Senior Housing Investments & Transactions: Fortis Files for Receivership

Fortis Management Group Files for Receivership Fortis Management Group filed for receivership in an agreement with its landlords, the company revealed on July 12. The Milwaukee-based management company operates 60 skilled nursing facilities and five independent and assisted living communities throughout Michigan, Minnesota, Wisconsin, Oregon, Washington and Idaho. Read the full story on Skilled Nursing […]

Senior Housing Finance Activity: Welltower’s $3.7 Billion Credit Facility

Welltower Announces Closing of Expanded $3.7 Billion Unsecured Credit Facility Toledo, Ohio-based real estate investment trust (REIT) Welltower Inc. (NYSE: HCN) announced it has closed an approximate $3.7 billion unsecured credit facility, consisting of a $500 million term loan, a $3 billion revolving line of credit and a CAD 250 million term loan ($193.5 million at exchange […]

NHC Renews $75 Million Credit Line, Plans Future Senior Living Investment

National HealthCare Corporation (NYSE: NHC) announced this week the renewal of a $75 million credit line with Bank of America that the company plans to use toward future expansion in senior living services including assisted living, skilled nursing, home care and hospice.  The company currently provides services to 68 long term care communities spanning 9,450 […]

LCS, Private Equity Firm Plan New $160 Million CCRC

A joint venture between an established senior living developer and operator and a private equity firm currently has two continuing care retirement communities (CCRCs) in pre-development with plans to expand a third at a time when activity in the sector has been largely halted related to the availability of financing. LCS-Westminster, a partnership between Des […]

Continuing Life Communities Gets $250 Million Construction Loan for Calif. CCRC

Carlsbad, Calif.-based Continuing Life Communities, a developer and operator of several continuing care retirement communities (CCRCs), recently signed a $250 million construction loan for its newest CCRC, Stoneridge Creek Pleasanton in Pleasanton, Calif. The loan represents one of the largest non-governmental construction loans signed since the beginning of the economic downturn, according to Justin Wilson, […]