In a move that reflects the ongoing conflict between a major global asset management firm and an activist shareholder, NorthStar Asset Management (NYSE: NSAM) announced it has formed a special committee of independent directors to continue to work on strategic alternatives to recapture shareholder value. However, one shareholder is questioning the independence of the directors. […]
NorthStar Realty Finance Corp.
Amid stock market turmoil, one senior housing real estate investment trust (REIT) is about to shake things up with a buyback plan. NorthStar Realty Finance (NYSE: NRF) has announced its plans to sell its interests in a senior housing portfolio for a gross price of approximately $900 million, with $648 million of mortgage financing in […]
Trends, influenced by tailwinds and headwinds, blow strong and then can change course over short periods or over a span of many years. On an airplane, these tailwinds and headwinds create turbulence, causing temporary discomfort that typically passes with smoother air ahead. So even though a slight tailwind at the senior housing industry’s back is […]
Changes could be in store for one the nation’s major owners of senior housing real estate, if an activist shareholder prevails. Land and Buildings, a New York-based hedge fund, has urged NorthStar Asset Management (NYSE: NSAM) to recombine with NorthStar Realty Finance (NYSE: NRF), a publicly traded real estate investment trust (REIT). The asset management […]
Chartwell Acquires Five Premier Ontario Residences for C$254 Million Chartwell Retirement Residences, Canada’s largest owner and operator of seniors housing, has entered into a definitive agreement to acquire five premier retirement residences in Ontario, Canada, for an aggregate purchase price of C$254 million from five distinct groups of vendors. The properties include Hollandview Trail Retirement Community in […]
As large portfolio deals in the U.S. senior housing sector have become rarer, some major investors are closing big transactions in foreign markets. Prominent U.S. real estate investment trusts have posted noteworthy Canadian deals recently, but they also are active overseas, dramatically ramping up activity in European markets in the last year. Europe-based investors reduced […]
Health care real estate investment trusts (REITs) have been the most active investors in senior housing properties of late, dishing out hundreds of millions of dollars to acquire massive portfolios. But the full force of their blockbuster potential may still be yet to come. Currently, health care REITs own about 12% of all the institutional […]
New Senior Investment Group Inc. (NYSE: SNR) announced today that it has entered into an agreement to acquire a 28-property portfolio from affiliates of Holiday Retirement for approximately $640 million. The portfolio, which includes private-pay independent living communities, contains 3,298 units across 21 states with an average occupancy of 88%, according to the company. Holiday […]
The CEOs of the “Big Three” health care real estate investment trusts (REITs) all were among the 25 highest-paid U.S. equity REIT chief executives in 2014, with HCP Inc.’s Lauralee Martin leading the pack. Martin, president and CEO of HCP (NYSE: HCP), took the No. 8 spot on the recently released rankings, compiled by business intelligence services […]
In case you missed them … here are the top headlines grabbing Senior Housing News readers’ attention this week: 5 Ways Memory Care Will Change By 2025—Senior housing providers recognize the rapidly growing need for memory care services. Yet, the future will bring not only more buildings designed specifically for these specialized services, but new […]
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