The Carlyle Group has plans to take HCR ManorCare public in an offering that could raise roughly $500 million according to a report from Reuters. Citing unnamed sources, the IPO could give the nursing home and assisted living facility operator an enterprise value of up to $2 billion. In 2007, Carlyle paid $4.9 billion for […]
Category: Stocks
Sunrise Senior Living (NYSE: SRZ) said it completed the purchase of the remaining 80% ownership interest in AL US Development Venture, a joint venture between a group of funds affiliated with Morgan Stanley. Originally announced in April, the deal gives Sunrise 100% membership interest in 15 senior living communities. “We are most excited to own […]
Sunrise Senior Living (NYSE: SRZ) said it entered into an agreement with the Pennsylvania Department of Public Welfare (DPW) to have its Quadrangle Continuing Care Retirement Community in Haverford, Penn., license reinstated after it was revoked in April for what the agency called gross incompetence, negligence and misconduct. An investigation into the facility using a hidden camera recorded three employees […]
Diversified Global Holdings Group (OTCQB: DGHG) completed the acquisition of Banyan Development LLC by purchasing the 48% of the outstanding equity of the development. Banyan Development is an Elder Care management and investment company and is developing a 100 bed Assisted Living Residence offering standard care options, as well as care for Alzheimer’s and other dementia […]
While I’d like to think we’re pretty clever here at SHN, Peter Slatin from Real Capital Analytics came up with one of the best headlines I’ve ever read. Using his column over at Forbes, Slatin writes that REIT Investment Is Viagra for Senior Housing. “REIT M&A activity in the suddenly hot senior housing market has made that […]
The U.S. Court of Appeals for the Sixth Circuit issued a ruling affirming a 2009 jury verdict, where HCP (NYSE:HCP) must award approximately $102 million in damages to Ventas, Inc (NYSE: VTR). According to Ventas, the lawsuit was filed due to tortious interference with business expectation arising out of its acquisition of Sunrise Senior Living REIT in April […]
Grubb & Ellis Healthcare REIT II, Inc. reported net operating income of approximately $4.8 million in the first quarter of 2011, an increase of more than 30% compared to the $3.7 million during the fourth quarter of 2010. Funds from operations came in at $1.3 million, up from $236,000 in the fourth quarter of 2010. […]
Atria Senior Living has completed a deal to merge its senior living portfolio with Ventas (NYSE: VTR). As part of the agreement, Atria will manage the portfolio of 118 senior living communities acquired by Ventas. Ventas acquired the portfolio valued at more than $3.1 billion through mergers of Atria Senior Living Group, Inc. (ASLG) using […]
Emeritus Corporation (NYSE: ESC) recently announced its first quarter 2011 results that showed a 28% rise in quarterly revenues compared to Q1 2010 but reported a net loss of $22.6 million for the quarter. The company’s same community average monthly revenue per occupied unit improved by 2.1% to $3,796 and its same community average occupancy […]
Brookdale Senior Living Inc. (NYSE: BKD) announced its first quarter 2011 results that showed a net loss of $12.3 million upon quarterly revenues of $569.4 million. The revenue in Q1 2011 was up 4.6% compared to Q1 2010 based upon increases in occupancy and increases in average monthly revenue per unit. Average monthly revenue per unit […]
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