This past week, HCP (NYSE:HCP) was the latest healthcare real estate investment trust to make a mammoth move in the senior housing space with the $1.73 billion acquisition of a 133-property portfolio owned by an Emeritus Corp. (NYSE:ESC) and Blackstone Group joint venture. By all accounts, it seems like it was a good deal for […]
HCP Inc.
Walker & Dunlop Closes $28.5 Million Loan for Hawaii Senior Housing Community Walker & Dunlop, LLC recently provided $28.5 million in Fannie Mae financing for The Plaza at Mililani, a senior housing community in Mililani, Hawaii. The loan was to refinance the 72-unit, 128-bed property and was structured with a 10-year term and a 30-year […]
HCP (NYSE:HCP) announced on Tuesday that it will acquire a 133-property senior housing portfolio for $1.73 billion from a joint venture between Emeritus Corporation (NYSE:ESC) and Blackstone Real Estate Partners VI, an affiliate of The Blackstone Group. Emeritus will enter into a new triple-net master lease and continue to operate these communities. The company, which […]
Health Care REIT’s $845 million acquisition of Sunrise Senior Living at a 60% premium may have opened the door to a whole world of senior living industry-changing acquisition activity, reports Bloomberg, and Emeritus and Brookdale might be next. The takeover of Sunrise Senior Living Inc. at the biggest premium ever paid for an operator of […]
When Toledo, Ohio-based Health Care REIT (NYSE:HCN) announced on Wednesday that it was acquiring all of the approximately 58.3 million outstanding shares of national senior living provider Sunrise Senior Living (NYSE:SRZ) for $14.50 a share, it didn’t exactly get a bargain—but it did make a smart long-term investment, analysts agree. Despite the steep price tag, […]
Here’s a quick look at how senior housing and care-related real estate investment trusts fared during the second quarter of 2012, including FFO, net income, revenues, and, when available, guidance. We’ve also included acquisition and development activities and outlooks for some of the REITs based on what was said during their respective earnings calls. HCP’s […]
Ziegler Closes $8 Million Bond Issue for Nonprofit Senior Care Community Expansion Specialty investment bank Ziegler recently closed an $8,035,000 non-rated, fixed-rate issue for Nazareth Living Center, a not-for-profit corporation based in Missouri. The Nazareth community includes a 150-unit assisted living apartment building and a 140-bed skilled nursing center in St. Louis, Mo. It is […]
Mainstreet Property Group’s HealthLease Properties REIT Closes $25 Million Credit Line Mainstreet Property Group, LLC, announced on Tuesday that certain indirect subsidiaries of HealthLease Properties Real Estate Investment Trust (TSX:HLP.UN) have entered into a $25 million revolving credit facility with PNC Bank. The facility has an initial term of 36 months from closing and provides […]
Bickford Senior Living has assumed the operations of three Georgia assisted living communities and is beginning to transition the properties to align with its existing 45 independent living, assisted living, and memory care branches in seven Midwestern states. Dogwood Forest Buckhead Assisted Living and Memory Care, in Atlanta, Ga., Dogwood Forest Marietta Assisted Living and […]
HCP to Sell 7.8 Million Shares to Citigroup to Repay Debt, Possibly Make Acquisitions HCP, Inc. (NYSE:HCP) announced on Monday that it will sell 7,800,000 shares of its common stock to Citigroup (NYSE:C), as sole underwriter, in an underwritten public offering. On June 18, the sales price of HCP’s common stock on the New York Stock Exchange […]
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