In case you missed them, here are the top headlines grabbing SHN readers’ attentions this week: Brookdale-Emeritus Merger Averted REIT Mega-Deal—It turns out Brookdale Senior Living (NYSE:BKD) wasn’t the only suitor looking to acquire Emeritus, but was just one among several other unnamed interested buyers, several of which analysts suggest may have been real estate […]
Fortress Investment Group
Fortress Investment Group is unloading more than 19 million shares of Brookdale (NYSE: BKD) stock, almost its entire stake in the company, through an underwritten public offering announced Tuesday. The offering of 19.4 million shares, later priced at $33 per share, is being underwritten by certain Fortress affiliates, Brookdale stated in a press release. Based on today’s current […]
Newcastle Investment Corp. (NYSE: NCT) said Friday that it is considering spinning off its senior living business and is planning future acquisitions in its pipeline in the neighborhood of $300 million. Recently, Newcastle spun off its media-related investments into its own entity, New Media Investment Group Inc. (NYSE: NEWM). Now, the company may be looking […]
Cahill Group Buys $250 Million Senior Care Portfolio Cahill Group recently announced it has completed the $250 million acquisition of the Rosewood skilled nursing and health care portfolio, based in St. Louis, Missouri. The acquisition includes skilled nursing facilities, senior living, home health, and other related management and service companies in St. Louis and Illinois, […]
Newcastle Investment Corp. (NYSE:NCT), which made waves last year by acquiring 52 Holiday Retirement communities for $1 billion, has officially solidified its focus on senior housing. The real estate investment trust last week spun off its media-related investments into New Media Investment Group Inc. (NYSE:NEWM), which began trading on the New York Stock Exchange on February […]
Newcastle Investment Corp. (NYSE:NCT), a real estate investment trust managed externally by Fortress Investment Group (NYSE:FIG), made a major foray into the senior housing market with the $1 billion acquisition of a chunk of Holiday Retirement’s portfolio, and they’re gearing up for more. The REIT previously concentrated investments in CDOs (collateralized debt obligations) along with […]
Newcastle Investment Corp. (NYSE:NCT) announced today it has completed its acquisition of 51 independent living properties from an affiliate of Holiday Retirement for $1 billion. Total transaction costs amounted to $1.04 billion—the purchase price funded with $720 million of non-recourse, fixed-rate mortgage debt and $320 million of equity. The debt has a weighted average coupon […]
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 […]
Newcastle Investment Corp. (NYSE:NCT) announced Monday an agreement to acquire a 52-property portfolio of senior housing properties from affiliates of Holiday Retirement for approximately $1.01 billion. Newcastle is a real estate investment trust primarily focused on senior housing along with other types of real estate and debt and is externally managed and advised by an […]
A number of global investors are joining local Chinese real estate developers as both look to bank on a senior housing boom sparked by the country’s massive elderly population, Wall Street Journal reports. Global property firms such as Merrill Gardens Related, a joint venture between real estate developer Related Cos. and senior housing operator Merrill […]
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