Transactions & Financings: Five Star Restructuring Complete; HJ Sims Arranges $219M Construction Financing

Cindat, Omega partner on $232M UK portfolio deal Chinese investment firm Cindat Capital Management entered into a joint venture with health care real estate investment trust, Omega Healthcare Investors (NYSE: OHI), on a 49% stake in a 67-property senior housing portfolio in the United Kingdom from Irvine, California-based health care REIT, Healthpeak Properties (NYSE: PEAK). […]

Transactions & Financings: CIT Group’s $64M Refinancing; Focus Healthcare Partners’ $65M Virginia Acquisition

CBRE arranges $65 million acquisition financing for Virginia CCRC CBRE National Senior Housing Vice Chairman Aron Will and First Vice President Austin Sacco arranged a $65.2 million acquisition financing package for The Virginian, a 306-unit rental continuing care retirement community (CCRC) in Fairfax, Virginia. Will and Sacco worked on behalf of Focus Healthcare Partners to […]

Focus Fund To Yield Up To $900 Million In Senior Housing Investments

Senior housing veterans with resumes that include stints at Fortress Investment Group (NYSE: FIG), Brookdale Senior Living (NYSE: BKD) and GE have now closed an impressive private equity fund to make investments in the sector, which could total $900 million. Focus Healthcare Partners LLC, a Chicago-based private real estate investment firm targeting the senior housing […]

Senior Housing Investments & Transactions: Sunrise Buys St. Louis Community

Cushman & Wakefield Arranges Sale of Senior Community Near St. Louis Cushman & Wakefield announced it advised a joint venture of Provision Living Senior Communities and real estate investment trust Welltower (NYSE: HCN) in the sale of Provision Living at Webster Groves to Sunrise Senior Living, for an undisclosed price. Provision Living is an assisted living and […]

Senior Housing Investments & Transactions: Capital Senior Living

American House Acquires Spring Lake, Michigan Community Bloomfield Hills-based American House Senior Living Communities is acquiring a 111-unit comment in Spring Lake, Mich., and has plans to renovate it, according to local reports. The community, now American House Lloyd’s Bayou, contains a mix of one- and two-bedroom apartments that range in size from 670 to […]

CCRC Business Model Proves Resilient, But Not Without Bruises

The housing market crash along with the worst economic downturn since the Great Depression has reshaped the way continuing care retirement communities (CCRC) are conceived, developed and operated. While the downturn proved too much for some projects to handle, the market has largely performed well over time, those active in the market say. “The challenged […]

Private Equity Investment in Senior Housing All About “Operator, Operator, Location”

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 […]

Will CCRCs See Billions More Lost in Bankruptcies?

With more defaults expected in the continuing care retirement community (CCRC) space among those financed with tax-exempt bond financing that opened around the time of the economic downturn, private equity investors are being presented with opportunities that could yield substantial returns. “There will be billions of dollars of defaults in that space in the next […]

Senior Housing Investments and Acquisitions (2/11/13)

REIT Buys N.C. ALF for $9.7 Million in Sale-Leaseback Transaction with Meridian Meridian Senior Living recently sold an assisted living community to Cornerstone Core Properties REIT Inc., an investment fund of Irvine, Calif.-based Cornerstone Real Estate Funds, for $9.7 million in a sale-leaseback transaction, reports The Business Journal. Danby House is a 100-bed, 27,129-square-foot community […]

[Correction] Capitol Seniors Housing Acquires Fla. Assisted Living Community for $28.5 Million

[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 […]