In addition to promoting Shankh Mitra to CEO on Monday, Welltower (NYSE: WELL) announced its second nine-figure senior housing sale in the last week. The Toledo, Ohio-based health care real estate investment trust (REIT) is under contract to sell an 80% stake in a six-property, 507-unit portfolio in Massachusetts for $200 million. That represents a […]
Newmark Knight Frank
Senior living capital markets are stabilizing, six months after the coronavirus pandemic forced lenders to the sidelines and created an environment of “peak volatility.” Lenders returning to the space are chasing core deals, while value-add deals are harder to complete. But a historically low interest rate environment, coupled with stabilizing expenses, may help facilitate value-add […]
Brookdale Senior Living (NYSE: BKD) made another move to shore up its financial position during the coronavirus pandemic. The Brentwood, Tennessee-based owner and operator on Thursday announced it obtained a 10-year, $221 million refinancing package for the majority of its outstanding 2020 and 2021 debt maturities. The refinancing was provided by Newmark Knight Frank (Nasdaq: […]
One thing is certain as the coronavirus pandemic enters its sixth month in the U.S.: Covid-19 is not going away. “We are going to have to live with Covid-19 in the world,” Brookdale Senior Living (NYSE: BKD) CEO Cindy Baier told Senior Housing News. And, in many regards, the senior living industry is in fact […]
Senior housing capital markets are settling down, with many lenders returning to the space, weeks after the coronavirus pandemic sent them scurrying to the sidelines. Meanwhile, equity investors are sitting on billions and are viewing senior housing favorably. Deals are still being completed, albeit with a bit more due diligence and less leverage than before […]
Columbia Pacific-Singapore Press Holdings Canadian portfolio deal Columbia Pacific Advisors and Singapore Press Holdings mutually agreed to terminate a previously announced sale of a six-property, 717-unit Canadian senior housing portfolio due to global market instability stemming from the Covid-19 pandemic. The acquisition price was about $175 million, Deal Street Asia reported Wednesday. Singapore Press Holdings […]
Genacross Lutheran Services, Benedictine affiliation planned Toledo, Ohio-based Genacross Lutheran Services signed a letter of intent to join Benedictine Health System, a Duluth, Minnesota-based senior care provider. The 160-year-old Genacross provides post-acute care, senior housing, and family and youth services across northwest Ohio and southeast Michigan. Benedictine provides services across a continuum of care including […]
Ventas (NYSE: VTR) is pitching for sale a portfolio of eight Atria Senior Living communities in six states, at a value of about $400 million. That’s according to real estate publication Real Estate Alert, which cited recent marketing materials in its reporting. Ventas confirmed to Senior Housing News that the communities are being marketed for […]
Cindat, Omega partner on $232M UK portfolio deal Chinese investment firm Cindat Capital Management entered into a joint venture with health care real estate investment trust, Omega Healthcare Investors (NYSE: OHI), on a 49% stake in a 67-property senior housing portfolio in the United Kingdom from Irvine, California-based health care REIT, Healthpeak Properties (NYSE: PEAK). […]
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