Many questions have been raised by the rumor that Brookdale Senior Living (NYSE: BKD) is negotiating with the Blackstone Group and other potential buyers over a sale of the company. Perhaps foremost among these questions: What is the value of Brookdale’s real estate, and what deal structures appear most likely? The real estate piece is […]
Rumors that private equity giant Blackstone Group is in talks to acquire Brookdale Senior Living (NYSE: BKD) circulated Tuesday afternoon. Shares of the nation’s largest senior living owner and operator surged, ending the trading day up nearly 15%. The talks are at an early stage and involve other suitors in addition to Blackstone, according to […]
Despite chatter about development, many senior living industry giants seem to be focusing more on repositioning, renovating, and rebranding their communities than on building new ones. Brookdale Senior Living spent $7.9 million of net cash in the third quarter as part of its multi-million Program Max initiative to expand, redevelop, and reposition many of its […]
Last week, Emeritus Corporation (NYSE:ESC) agreed to purchase Nurse on Call, Inc., the largest Medicare-licensed home healthcare provider in Florida. Emeritus, the nation’s largest assisted living and memory care provider, will pay $102 million in cash for 91% of Nurse on Call’s parent company. The remaining equity will be owned by certain members of Nurse […]
HCP Inc.’s (NYSE:HCP) $1.73 billion acquisition of the Blackstone-Emeritus joint venture was the pitch the largest healthcare REIT was waiting for—”a fastball, right down the middle of the plate,” according to chairman and CEO Jay Flaherty on the third quarter earnings call. During a first quarter earnings call, an analyst had mentioned HCP’s “relatively low […]
This past week, HCP (NYSE:HCP) was the latest healthcare real estate investment trust to make a mammoth move in the senior housing space with the $1.73 billion acquisition of a 133-property portfolio owned by an Emeritus Corp. (NYSE:ESC) and Blackstone Group joint venture. By all accounts, it seems like it was a good deal for […]
