HCP Renegotiates Leases for 333 HCR ManorCare Properties

HCP, Inc. (NYSE: HCP) and HCR ManorCare today announced an agreement to amend a master lease encompassing a portfolio of 333 properties ranging from post-acute, skilled nursing and assisted living facilities owned by HCP.  Beginning April 1, the real estate investment trust (REIT) will provide an annual rent reduction of $68 million to the Toledo, […]

[Update] Brookdale and HCP to Acquire 35 Chartwell Communities for $849 Million

Brookdale Senior Living Inc. (NYSE: BKD) and HCP, Inc. (NYSE: HCP) have entered into a definitive agreement to acquire 35 private pay senior living communities from Chartwell Retirement Residences for $849 million. The properties — which represent the entirety of Chartwell’s U.S. portfolio — will be acquired using a RIDEA joint venture structure with HCP and Brookdale owning 90% […]

HCP: Bullish on Brookdale Joint Venture and Ready for Growth

Real estate investment trust HCP Inc. (NYSE: HCP) is undeterred by recent lackluster results from Brookdale Senior Living (NYSE: BKD), and is growing its continuing care retirement communities joint venture with the provider, company officials said in an earnings call Tuesday. A $1.2 billion strategic joint venture with Brookdale Senior Living (NYSE: BKD) was the […]

Brookdale Off to Rocky Start Post-Merger

Big growth doesn’t come easy. Brookdale Senior Living (NYSE:BKD) knows all too well. After offering a preliminary glimpse into the company’s financials for the fourth quarter last week, Brookdale today released further insight into its performance, reiterating many of the same factors that have increased expenses and led to a 70 basis point drop in […]

Brookdale Banks on Renovating 150 Emeritus Communities in 2015

As Brookdale Senior Living (NYSE: BKD) continues to work through its post-merger growing pains, the company has big plans to renovate more than 150 former Emeritus communities this year. In its second earnings-related announcement since completing the $2.8 billion merger with Emeritus, Brookdale today reported its anticipated preliminary financial results for the fourth quarter ending December […]

Health Care REIT: No Predictability in Entry-Fee CCRCs

While some of the largest senior housing investors have been ramping up interest in entry-fee continuing care retirement communities (CCRCs), for Health Care REIT (NYSE: HCN), growing that sector of its portfolio is of minimal concern, according to several of the company’s top executives during an earnings call this week. Whereas other investors have increased […]

Brookdale Begins to Feel the Growing Pains Post-Emeritus Merger

The senior housing industry’s first blockbuster merger might be complete, but the integration of Brookdale and Emeritus is creating significant challenges for the nation’s largest provider. In the first earnings release since its completion of a $2.8 billion merger with Emeritus and a $1.2 billion joint venture with HCP, Brookdale Senior Living (NYSE: BKD) says the […]

Robust UK Pipeline Pushes HCP to Open London Office

Following HCP, Inc.’s (NYSE: HCP) $630 million debt investment in a United Kingdom senior housing portfolio acquisition, the real estate investment trust (REIT) will be opening an office in London to manage its overseas operations, the company announced during its third-quarter earnings call. “We are pleased to announce that in January we will be opening […]

HCP Backs $630 Million Investment In UK Senior Housing Portfolio

HCP, Inc. (NYSE: HCP) announced Monday that it is the lead investor in the financing for Formation Capital and Safanad Limited’s pending acquisition of NHP, which owns 273 nursing and residential care homes representing more than 12,500 beds in the United Kingdom. HCP will provide a loan facility totaling £394.5 million (approximately US$630 million), secured by […]