Welltower (NYSE: WELL) improved its near- and long-term liquidity. The Toledo, Ohio-based health care real estate investment trust closed on an expanded $4 billion unsecured revolving line of credit. This will replace an existing $3 billion credit facility. Additionally, Welltower has two existing facilities outstanding: a $500 million term loan and a $250 million Canadian […]
Fitch Ratings
Lifespace Communities continues to make progress in its efforts to streamline its portfolio for growth. The West Des Moines, Iowa-based nonprofit continuing care retirement community operator announced it is turning over ownership and management of two campuses — Deerfield, in Des Moines, Iowa; and Grand Lodge at the Preserve in Lincoln, Nebraska — to Immanuel […]
Healthpeak Properties (NYSE: PEAK) continues to shore up its financial position. The Denver-based health care real estate investment trust (REIT) announced cash tender offers for up to $550 million in senior notes due in 2025. The offerings consist of $250 million in senior notes carrying a 3.4% interest rate, and $300 million in senior notes […]
The Covid-19 pandemic put serious pressure on senior living providers’ bottom lines, but for continuing care retirement communities (CCRCs), those headwinds didn’t gust quite as hard. In fact, CCRCs’ resilience will be talked about for years to come, Eric Mendelsohn, CEO of National Health Investors, said in a recent SHN+ TALKS. As that conversation gets […]
Cambridge Realty Capital found a way to place new debt during the coronavirus pandemic. The West Palm Beach, Florida-based financial services firm announced it closed on $446 million in interest rate reduction (IRR) loans from April 2020 through December 2020 — activity driven by the firm’s proactiveness to help clients reduce debt load during the […]
Charter Health Care Group is expanding its post-acute care platform. The Cucamonga, California-based provider acquired The Providence Hospice and The Providence Home Health Services, a Houston-based in-home health care provider. Financial terms of the transaction were not disclosed. This is now Charter’s sixth acquisition since early 2020, now serving 4,500 patients in seven states. Charter […]
Welltower (NYSE: WELL) is improving its liquidity debt maturities situations. The Toledo, Ohio-based health care real estate investment trust closed a $750 million offering of 2.8% senior unsecured notes, due in June 2031. Welltower will use the net proceeds to redeem $340 million of outstanding 3.75% senior notes due March 2023, and $335 million of […]
Focus Healthcare Partners is adding more independent living to its senior housing portfolio. The Chicago-based health care real estate investor acquired four independent living communities in the metro Atlanta market, totaling 559 units, for $164.5 million. The communities are operated by Edmond, Oklahoma-based owner and provider, Mansions Senior Living. Focus purchased the portfolio through its […]
The National Investment Center for Seniors Housing & Care (NIC) is strengthening its data analytics platform. The industry group this week announced the acquisition of VisionLTC, a data analytics platform based in Raleigh, North Carolina. The platform will be integrated into the group’s NIC MAP data service to create a new platform, NIC MAP Vision. […]
The Pennant Group (Nasdaq: PNTG) gave itself more financial flexibility a year into the coronavirus pandemic. The Eagle, Idaho-based company amended its revolving credit facility to $150 million, of which only $18.3 million was drawn as of February 22. Coupled with strong cash flow, expands Pennant’s ability to opportunistically target senior housing, home health and […]
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