Newcastle Investment Corp. (NYSE:NCT) continues to bet big in the senior housing space with more than $300 million worth of acquisitions on the horizon and ongoing talks of possibly spinning off its senior living business. The company is currently under contract to acquire 15 senior housing properties for a total purchase price of $319 million, […]
Newcastle Investment Corp.
In addition to compiling the top senior living providers by unit count for 2014, the Assisted Living Federation also ranked the top property owners in the sector by number of units and properties nationwide. Among the top owners, six of the top seven are real estate investment trusts, with the remaining owner being private equity […]
Newcastle Investment Corp. (NYSE: NCT) said Friday that it is considering spinning off its senior living business and is planning future acquisitions in its pipeline in the neighborhood of $300 million. Recently, Newcastle spun off its media-related investments into its own entity, New Media Investment Group Inc. (NYSE: NEWM). Now, the company may be looking […]
Newcastle Investment Corp. (NYSE:NCT), which made waves last year by acquiring 52 Holiday Retirement communities for $1 billion, has officially solidified its focus on senior housing. The real estate investment trust last week spun off its media-related investments into New Media Investment Group Inc. (NYSE:NEWM), which began trading on the New York Stock Exchange on February […]
HealthLease Commits to Co-Investment Relationship with Mainstreet HealthLease Properties Trust has invested $20 million in Mainstreet Development Fund II, L.P., which will be used to develop between 12 to 16 seniors housing and care facilities in the United States over the next year. HealthLease’s investment will consist of $15 million of mezzanine financing, which is […]
Newcastle Investment Corp. (NYSE:NCT), a real estate investment trust managed externally by Fortress Investment Group (NYSE:FIG), made a major foray into the senior housing market with the $1 billion acquisition of a chunk of Holiday Retirement’s portfolio, and they’re gearing up for more. The REIT previously concentrated investments in CDOs (collateralized debt obligations) along with […]
Newcastle Investment Corp. (NYSE:NCT) announced today it has completed its acquisition of 51 independent living properties from an affiliate of Holiday Retirement for $1 billion. Total transaction costs amounted to $1.04 billion—the purchase price funded with $720 million of non-recourse, fixed-rate mortgage debt and $320 million of equity. The debt has a weighted average coupon […]
National Health Investors (NYSE: NHI) today completed the previously announced purchase of 25 former Holiday Retirement properties from Holiday Acquisition Holdings for a total of $491 million plus transaction costs. NHI initially announced the acquisition in November, following an announcement by Newcastle Investment Corp. (NYSE: NCT) that it would acquire a 52-property portfolio of senior housing […]
Similar to 2011 and 2012, the senior housing industry was no stranger to mergers and acquisitions in 2013, with transactions ranging in size from one or two properties to chunks of high-profile portfolios and even entire companies. We’ve gathered the top 10 U.S.-based transactions that were announced or closed throughout the past year, starting with […]
Capital One Bank Announces $115 Million in Financial Transactions Capital One Bank recently announced it acted as a joint bookrunner for an $85 million, seven-year senior secured term loan to subsidiaries of Parkwood Properties, Inc. and a $30 million revolver loan to Palm Garden Healthcare Holdings, LLC. Parkwood Properties will use the term loan to refinance […]
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