Transactions & Financings: Healthpeak’s $550M Cash Tender Offer; Bankruptcy Court Approves $76M Henry Ford Village Sale

Healthpeak Properties (NYSE: PEAK) continues to shore up its financial position. The Denver-based health care real estate investment trust (REIT) announced cash tender offers for up to $550 million in senior notes due in 2025. The offerings consist of $250 million in senior notes carrying a 3.4% interest rate, and $300 million in senior notes […]

Henry Ford Village, MED Healthcare Partners Agree on $69M Stalking Horse Bid

Henry Ford Village announced on Tuesday that it agreed to a $69 million stalking horse bid — a move which signals a potential exit from Chapter 11 bankruptcy protection for the 1,038-bed nonprofit continuing care retirement community (CCRC) in Dearborn, Michigan. The bidder is MED Healthcare Partners, a provider of assisted living, skilled nursing services […]

1,000-Bed CCRC Henry Ford Village Files for Bankruptcy Amid Covid-19 ‘Perfect Storm’

Henry Ford Village, a 1,038-bed nonprofit continuing care retirement community (CCRC), has filed for Chapter 11 bankruptcy protection. The spectre of financial distress has loomed over the senior living industry since Covid-19 began sweeping across the United States last spring, placing providers under enormous operational and financial pressure. Providers that were strained prior to the […]

How One CCRC Transformed Vacancies into Great Local Publicity

In senior housing, it may prove worthwhile to consider vacant units as unique opportunities, as opposed to just empty space waiting to be sold. That’s exactly what happened recently at Henry Ford Village in Dearborn, Michigan. The continuing care retirement community (CCRC) is the largest of its kind in Michigan as well as the third-largest CCRC […]