American Healthcare REIT is gearing up for its initial public offering (IPO) and is aiming to raise $700 million, Bloomberg reported on Tuesday. The REIT’s primary operating partner is Louisville, Kentucky-based Trilogy Health Services, which is one of the nation’s largest senior living and skilled nursing providers. “Trilogy constitutes more than a third of American Healthcare REIT’s […]
Bank of America
The management team at Ventas (NYSE: VTR) is seeing its highest senior housing unit revenue in years as operating partners set rates higher for the coming year — but even that is not enough to get the company back to desired margins as cost pressures continue to eat into the bottom line. The Chicago-based real […]
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 […]
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 […]
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 […]
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 […]
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, […]
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