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). […]
Formation Development Group
Nationwide senior housing occupancy is near a historic low, as many providers across the U.S. are grappling with oversupply. The average U.S. senior housing occupancy increased to 88% percent in the third quarter of this year, while construction versus inventory in the U.S. was 6.7%, according to data from the National Investment Center for Seniors […]
Construction: Planned Formation Development Group Plans Two Senior Living Communities Atlanta-based developer and investor, Formation Development Group will begin construction soon on two new senior living projects. The first will be a 180-unit community with a mix of independent living, assisted living and memory care units, located in Cranberry Township, Pennsylvania. The community will be constructed on […]
CNL Healthcare Properties II Breaks Escrow Orlando, Florida-based CNL Healthcare Properties II, Inc., a non-traded real estate investment trust (REIT) focused on seniors housing and health care properties, has raised proceeds sufficient to break escrow in all states except Pennsylvania, Ohio, and Washington through its continuous public offering. CNL Healthcare Properties II has accepted subscription […]
(Rendering of Solana Mount Pleasant, an independent, assisted living and memory care community being developed by Formation Development Group in Mount Pleasant, S.C.) Construction: Planned Formation Development Group Obtains Zoning for S.C. Project Formation Development Group, an Atlanta-based senior living developer and investor, has obtained zoning approval for a new senior housing community in Mount Pleasant, […]
Senior Living Investment Brokerage Facilitates Sale of Virginia Assisted Living Facility Glen Ellyn, Illinois-based Senior Living Investment Brokerage Inc. facilitated the sale of Lexington at Tazewell, a 42-unit, 33,480-square-foot assisted living facility in Tazewell, Virginia, for $2.15 million. The seller was the lender who had financed the renovations and then foreclosed on the developer. The buyer […]
Construction: Planned Senior Lifestyle Corp. to Break Ground on New Fla. Community Chicago-based Senior Lifestyle Corporation announced last week it will break ground this spring on its newest community, The Sheridan at Cooper City, a 111-unit assisted living and memory care facility in Cooper City, Fla. The Sheridan at Cooper City will feature 72 assisted […]
Construction: Planned Spectrum Affiliate Plans $16.6 Million Assisted Living Community in St. Louis S-K Dougherty Ferry LLC, an affiliate of Denver-based Spectrum Retirement Communities, is planning to build a $16.6 million senior living community in St. Louis County, reports St. Louis Business Journal. The four-story community will include 100 beds, 24 of which will be […]
In case you missed it, here are the top five stories grabbing Senior Housing News readers’ attention this week: Freddie Mac Unveils New Senior Housing Product, Greystone First to Market—Freddie Mac released a revolving credit product specific for senior housing borrowers. Greystone was the first to secure the credit facility for a developer client, in […]
American Realty Capital has completed the acquisition of a Class A senior housing community in Katy, Texas, purchased for $71.25 million from Formation Development Group, LLC and affiliates of The Carlyle Group. HFF marketed The Solana at Cinco Ranch, a 184-unit independent living, assisted living, and memory care community, on behalf of the sellers. The […]
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