Healthcare real estate investment trust CNL Healthcare Properties announced today that is has increased its original credit line by $155 million, which will allow CNL take advantage of new investment opportunities as they arise. Its original $120 million line of credit was increased to $275 million, with the option to access additional capacity up to […]
CNL Healthcare Properties
BMA Management Tapped to Operate 2 New Ill. Communities BMA Management has been picked to operate two senior living communities currently being developed in Illinois. Both will serve low-income seniors through the state’s Supportive Living Facility program. Goldblatts Senior Living Community is being developed in the historic Goldblatts Department Store building in Chicago’s Back of […]
Construction: Planned Smith/Packett Planning 102-unit Assisted Living Project in Virginia Senior housing developer Smith/Packett has plans to build a 102-unit assisted living community in Tabb, Virginia, reports Williamsburg Yorktown Daily. An application for the project submitted by Smith/Packett outlines a two-story building totaling about 90,000-square-feet, including amenities such as activity rooms, a commercial kitchen, dining room, […]
CNL Healthcare Properties real estate investment trust has acquired four senior housing communities in Washington for a total of $88.3 million. The properties—all of which are managed by Prestige Senior Living—contain a combined 457 units including 136 independent living units, 297 assisted living units and 24 memory care units. CNL said in announcing the acquisition […]
Construction: Planned Prestige Senior Living and Nevada Health System to Develop Memory Care Prestige Care, Inc., and Prestige Senior Living, LLC, are teaming with Carson Tahoe Health to develop a memory care community on the health system’s Specialty Medical Center campus in Carson City, Nevada. As a first step in the relationship between these organizations, […]
Wall Street’s self-regulator, the Financial Industry Regulatory Authority, is planning some rule changes for non-traded real estate investment trusts, reports the Wall Street Journal. Those changes include requiring this segment of the REIT market to improve disclosures on fees, along with a faster timeline for reporting changes to property values in their portfolios. “The move […]
Similar to 2011 and 2012, the senior housing industry was no stranger to mergers and acquisitions in 2013, with transactions ranging in size from one or two properties to chunks of high-profile portfolios and even entire companies. We’ve gathered the top 10 U.S.-based transactions that were announced or closed throughout the past year, starting with […]
Real estate investment trust CNL Healthcare Properties has acquired a 12-property senior living portfolio for $302 million, the company announced Monday. The 12 properties are located in the northwest United States, and span independent living, assisted living and memory care units. The 12 properties are based in Idaho, Montana, Nevada and Oregon and will be […]
CNL Healthcare Properties announced today it has secured a $120 million corporate credit line that will fuel future acquisitions in the senior housing and medical office building sectors. The credit line includes an accordion feature that allows CNL the option to expand the credit line to $325 million, through an arrangement made by KeyBank N.A. […]
In case you missed it, here are the top five stories grabbing Senior Housing News readers this week: 1. AARP Ranks Best Retirement Cities for 2013—AARP released its annual list of best cities for retirement, with this year’s selections based on affordable costs of living for retirees. 2. Senior Living Growth Potential Lies Outside Community […]
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