Private Equity Giant KKR Is Benchmark’s New Capital Partner

Global investment firm KKR (NYSE: KKR) is the new financial partner for Waltham, Massachusetts-based senior living provider Benchmark. At the end of July, real estate investment trust Welltower Inc. (NYSE: WELL) announced that it had disposed of its ownership interest in Benchmark for a gross sale price of $1.8 billion. At that time, Welltower and […]

PharMerica to Merge with Home Care Giant BrightSpring, Continue Assisted Living Push

Long-term care pharmacy PharMerica intends to merge with BrightSpring Health Services, a large provider of home- and community-based care. The two companies will be under the private equity ownership of KKR, with an affiliate of Walgreens Boots Alliance (Nasdaq: WBA) holding a minority stake, according to an announcement issued Tuesday. Full financial terms of the transaction […]

New $2 Billion KKR Fund to Invest in Senior Housing

Global investment firm KKR & Co. (NYSE: KKR) recently closed a $2 billion real estate fund that will be used to purchase value-add or opportunistic properties, including senior housing. The new fund has already spent or committed approximately $250 million of the capital raised, and a portion of that $250 million is going toward senior housing, […]

Movers & Shakers: Brookdale’s New Board Chairman

Brookdale Appoints New Director and Non-Executive Chairman of the Board Brookdale Senior Living (NYSE: BKD), the largest senior living operator in the U.S., announced that its Board of Directors has appointed Daniel Decker as Class I director and the non-executive chairman of the board in replacement of the late Granger Cobb, effective Oct. 1. “Dan is […]

Private Equity Groups Sold Sunrise Stake for $400 Million

The three private equity groups that invested in Sunrise Senior Living’s management business sold their stake for $400 million, according to a letter to investors obtained by Bloomberg News. Kohlberg Kravis Roberts & Co. L.P. (KKR), Beecken Petty O’Keefe & Company, and Coastwood Senior Housing Partners LLC purchased an 80% stake in the business for […]

Senior Housing Finance Activity: KKR, Sentio Healthcare Properties, Cain Brothers, More

KKR to Provide $150 Million of Equity to Sentio Healthcare Properties Real estate investment trust Sentio Healthcare Properties, Inc. announced the signing of a definitive agreement with an affiliate of global investment firm Kohlberg Kravis Roberts & Co. L.P. (KKR) for a commitment to provide $150 million of convertible preferred equity to Sentio in the […]