Senior Housing Finance Activity: NorthStar, NHI, Ziegler

Three Pillars Senior Living Communities Issued $22.8 Million Bonds Cain Brothers served as sole underwriter in the issuance of the Three Pillars Senior Living Communities Series 2013 bonds, issued as unenhanced fixed rate bonds and rated “A-” by Fitch on the underlying credit strength of Three Pillars. The $22.82 million bond issuance was used to […]

NHI to Acquire 17 Assisted Living Communities for $135 Million

National Health Investors, Inc. (NYSE: NHI) announced today that its RIDEA joint-venture with Bickford Senior Living has acquired 17 assisted living and memory care communities for a total purchase price of $135 million. The 17 communities are comprised of 14 communities purchased from a subsidiary of Care Investment Trust, Inc. (OTCQX: CVTR) for approximately $123 […]

Healthcare REITs Don’t All Have Appetite for New Construction

Not all healthcare real estate investment trusts (REITs) are putting their money into new developments in senior housing, several REIT executives told attendees of the Assisted Living Federation of America’s conference held in Charlotte, N.C. last week. Some REITs are more willing to work with operators to fund new developments, but others are less interested. Ventas, […]

RIDEA: Not the Best Fit for All Senior Housing Operators

To RIDEA or not to RIDEA? That was one of the questions addressed by executives of healthcare Real Estate Investment Trusts (REITs) during the Assisted Living Federation of America’s annual expo and conference in Charlotte, N.C. last week. RIDEA, which stands for the REIT Investment Diversification and Empowerment Act, was adopted in 2008 and allows REITs and […]

NHI Must Buy Back Senior Care Assets from Nonprofit in $40 Million Settlement

National Health Investors, Inc. (NYSE:NHI) and its largest tenant, National Healthcare Corporation, announced last Friday an agreement that resolves a long-standing dispute surrounding accusations they overpriced assets sold to two nonprofit senior care entities they helped establish. The settlement includes the sale of 14 nursing homes and liquidation of the nonprofits’ assets, which will ultimately […]

National Health Investors Makes $26.3 Million Skilled Nursing Acquisition

National Health Investors, Inc. (NYSE: NHI) announced today that it will acquire a total of 254 skilled nursing beds in two Texas facilities for $26.3 million.  The facilities, each less than two years old, are located in Canton and Corinth, Texas.  “These two newly-constructed, strong-performing assets are a great fit for NHI’s diversified portfolio,” said […]

NHC Buys 6 Senior Care Centers from NHI for $21 Million

National HealthCare Corporation (NYSE MKT:NHC) recently acquired six skilled healthcare centers from National Health Investors (NYSE:NHI) for $21 million in a transaction that closed on Dec. 31, 2012. The senior care centers are located in Columbia, Knoxville, and Springfield, Tenn., Madisonville, Ky., and Rossville, Ga. and have been leased by NHC since 1991. The portfolio […]