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 […]
Meridian Realty Advisors
(Shavano Park Senior Living, an assisted living and memory care community in San Antonio, Texas — Photo courtesy of Pi Architects) Construction: Planned O’Reilly Development, Arrow Senior Living Gain Approval for $30 Million Mo. Project Springfield, Mo.-based O’Reilly Development and St. Charles, Mo.-based Arrow Senior Living Management this week announced they have received the approved Certificate […]
(Rendering of Cascade Manor at night – Photo courtesy of Ankrom Moisan Architects) Construction: Planned Aldersgate CCRC in North Carolina to Undergo $70 Million Transformation Formerly known as The Methodist Home, non-profit continuing care retirement center (CCRC) Aldersgate is undergoing a campus-wide expansion that will transform the more than 70-year-old, 234-acre campus in Charlotte, N.C. […]
Construction: Planned Starling Senior Living to Break Ground on Third Fla. Project Jacksonville, Fla.-based Starling Senior Living is gearing up to break ground on its third senior living community in the state come January, the company told SHN in an email. In July, the company successfully rezoned a five-acre parcel located on Amelia Island, Fla., […]
Construction: Planned Developers Near Construction on $30MM Michigan Senior Living Village Brighton, Mich.-based Unified Property Group is readying a groundbreaking next month on its latest endeavor, a $30 million “senior living village” in Pittsfield Township, Mich., reports MLive. The Pittsfield Township Planning Commission recently approved the final site plans presented by Unified Property Group, which call […]
Net income and funds from operation (FFO) dropped for Sabra Health Care REIT, Inc. (NASDAQ:SBRA) in the second quarter ended June 30, 2013 as new senior living construction activity picked up. The REIT currently has an approximately $300 million development pipeline. FFO dropped 64% to $0.13 in the second quarter compared to $0.36 one year […]
Construction: Planned Foreign Investment Program Propels Assisted Living Project With the help of a program that recruits foreign investors, Ridgeline Management Group is looking to break ground on a senior living community in Oregon as early as mid-summer, reports the Albany Democrat Herald. The 92-bed assisted living community will be a three-story 72,000-square-foot building on […]
Prudential Mortgage Capital Closes Two Senior Housing Loans Totaling 19.8 Million Prudential Mortgage Capital Company recently closed two senior housing loans totaling nearly $20 million. The first was a $2.8 million, 20-year, fixed-rate loan to refinance Camino Retirement Apartments, a 98-bed assisted living and independent living community in Albuquerque, N.M. The second was a $17 […]
The senior housing industry’s cyclical nature means it’s a matter of when, not if, the sector eventually gets overbuilt, and the biggest danger is in the lease-up phase—especially if there are several new developments in the same market. “In certain submarkets and certain product types, it will be overbuilt,” said Jeff Kraus, managing director of […]
Construction: Planned Meridian Realty Advisors Acquires Site to Build Memory Care Community Dallas-based developer Meridian Realty Advisors, LP recently acquired a site in southwest Fort Worth, Tex. with plans to develop a 52-unit memory care and assisted living community. Silverado Senior Living-Fort Worth will be located on a five acre site and will be the […]
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