While real estate investment trusts (REITs) are known for being long-term asset holders, some private investors are pursuing a shorter term, value-add strategy, often in the hopes of attracting REITs’ deep pockets. Rather than hold senior housing properties long term, another strategy is to make one-off acquisitions that may be undesirable to or overlooked by […]
Capitol Seniors Housing
Low capitalization rates for many high-quality senior housing transactions has made for a “seller’s market” the past several quarters. But senior living buyers may become more cautious as interest rates climb following rises in 10-year Treasury yields. In mid-June, Ben Bernanke, chairman of the Federal Reserve, announced plans to taper off the quantitative easing program—through which […]
For private equity investors interested in entering the senior housing space, it’s all about the operator, agreed a panel on tapping into private equity during NIC’s 2013 Regional Conference held March 5-7 in San Diego. While criteria in real estate often hinges on “location, location, location,” in senior housing, it’s more like “operator, operator, location,” said […]
Greensboro, N.C.-based Bell Partners Inc. has sold off the last two senior apartment properties in its portfolio to Capitol Seniors Housing for a combined $47.5 million. Alta Oakridge, in Raleigh, N.C., was built in 2009 and sold for $24.25 million. Alta Walk, in Durham, N.C., was built in 2008 and sold for $23.25 million. The […]
[Correction: This article previously incorrectly listed Capital Seniors Housing as the buyer. It has been updated to list Capitol Seniors Housing as the buyer. We apologize for the error.] Capitol Seniors Housing recently acquired St. Joseph’s Assisted Living and Memory Care community in Jupiter, Fla., in a $28.5 million transaction with joint venture partner Harvard Management […]
Washington, D.C.-based Capitol Seniors Housing recently purchased two Texas independent living communities from Franklin Development Co. for an undisclosed amount in a transaction brokered by Marcus & Millichap Real Estate Investment Services. The two properties are Franklin Park Canyon Creek in Plano, Tex. and Franklin Park Hometown in North Richland Hills, Tex., both developed by […]
Capitol Seniors Housing recently purchased an assisted living/memory care community located in Escondido, Ca. for $9.5 million with the help of its capital partner and lender, Capital Funding Group. The Southern California community, Garden Park Villas, has 89 units, 59 of which are currently assisted living. However, Capital Seniors Housing plans to convert up to […]
With healthcare real estate investment trusts (REITs) having such a low cost of capital, it’s often difficult for private equity firms to compete when it comes to stabilized, “Class A” senior housing and care assets, but there’s room for investment when it comes to turnaround deals and development. REITs are grabbing the “lion’s share” of […]
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