2017 has been a wild ride for many industries—the senior living industry included. This year, industry news was once again dominated by Brookdale Senior Living (NYSE: BKD). There were takeover predictions, acquisition rumors and analyst think pieces, but ultimately no merger deals—at least as of Dec. 17. We also have a strong feeling that we […]
Blackstone Group
Senior Lifestyle Corp. has named new co-COOs and a new chief clinical officer as part of a leadership realignment. One of the new COOs, Justin Robins, is an internal promotion. The other, Jim Pusateri, most recently worked for Senior Lifestyle rival Brookdale Senior Living (NYSE: BKD). Robins has had a 21-year career with Chicago-based Senior […]
The nation’s largest senior living provider has struck a deal with an activist shareholder that’s given the company’s management team a bit of trouble over the last several months. Brookdale Senior Living (NYSE: BKD) on Wednesday announced that it had reached an agreement with Stamford, Connecticut-based Land & Buildings Investment Management LLC and appointed Marcus E. […]
Global private equity firms have been having a field day lately, making big investments in senior housing in the United States and other nations. Both China-based Cindat Capital Management and New York-based Blackstone Group (NYSE: BX), for instance, have placed bids for a 50% stake in the senior housing business of Sydney, Australia-based LendLease Group, Bloomberg […]
It looks as though the $5 billion non-traded real estate investment trust (REIT) that Blackstone Real Estate filed for last August is coming along nicely. The new Blackstone REIT is steadily adding to its pile of gold with buy-ins from “mom-and-pop investors,” to use a phrase from a May 23 Wall Street Journal report. Last month, […]
Private equity firm Blackstone Group (NYSE: BX) increased its senior housing holdings in the first quarter of 2017, acquiring 26 properties operated by Senior Lifestyle from real estate investment trust Welltower (NYSE: HCN) for $745 million.* This was one of the largest deals to close in the first quarter of the year, according to a […]
Late last year, Kindred Healthcare (NYSE: KND) announced its intention to completely exit the skilled nursing sector. Now, the Louisville, Kentucky-based post-acute care services provider is reportedly receiving takeover interest. The one-time skilled nursing giant is in “late-stage” discussions with several potential buyers for its skilled nursing business, according to Dealreporter. Still, Kindred is not […]
KeyBank Provides $703 Million for Blackstone’s 64-Community Senior Housing Acquisition KeyBank Real Estate Capital’s Healthcare platform recently provided a $703 million financing package to a joint venture led by Blackstone (NYSE: BX) that purchased a senior housing portfolio with 64 communities from HCP, Inc. (NYSE: HCP). The portfolio is made up of 5,973 units in […]
Blackstone Buys Florida Properties for $155 Million Blackstone Group (NYSE: BX) purchased four senior living communities from Welltower Inc. (NYSE: HCN) in South Florida for a combined $154.7 million. The acquisitions are part of a previously announced $1.13 billion deal between Blackstone and Brookdale Senior Living (NYSE: BKD). The transactions include: Mangrove Bay, a 155-unit complex […]
As confirmation hearings for President-elect Donald Trump’s Cabinet took place on Capitol Hill, we brought readers the most recent news in the senior housing world. Namely, private equity giant Blackstone Group is rumored to be in talks to acquire Brookdale Senior Living (NYSE: BKD); assisted living occupancy fell to its lowest level since 2010; and […]
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