Sabra Health Care REIT, Inc. (NASDAQ:SBRA) recently announced the acquisition of a nine-property portfolio of senior housing communities located in Michigan for $49 million. The sale/leaseback transaction includes a triple-net master lease agreement with affiliates of Retirement Living Management, featuring a 10-year initial term with two five-year renewal options. The lease provides for annual rent […]
Sabra Health Care REIT
Sabra Health Care REIT, Inc. (NASDAQ:SBRA) recently acquired five senior care properties in Texas and Minnesota in two transactions for a total of $40.2 million. The Texas portfolio consists of three skilled nursing facilities and one assisted living community. The other acquisition was for a skilled nursing facility in Minnesota. Sabra funded the transactions with […]
Sabra Health Care REIT, Inc. (NASDAQ:SBRA) recently acquired two senior care communities in separate transactions for a combined $42.5 million. The first is a 48-unit memory care community in Aurora, Colo., purchased for $16 million from an affiliate of New Dawn Holding Company. The REIT also entered into a triple-net lease agreement with the New […]
Sabra Health Care REIT, Inc. (NASDAQ:SBRA) has committed to a forward purchase program to acquire newly-constructed senior housing properties that will be developed by First Phoenix Group, LLC. Through the pipeline agreement, Sabra will eventually purchase and also provide certain interim construction funding for up to 10 assisted living and memory care facilities through at […]
Headed into the second half of 2012, Sabra Health Care REIT Inc. (NYSE:SBRA) is planning to turn its attentions to the senior housing market, said its chairman and CEO Rick Matros during REITWeek 2012: NAREIT’s Investor Forum. Sabra’s portfolio is currently dominated by skilled nursing assets, but it may start looking more diversified in the next few months. The […]
LTC Properties Privately Places $85.8 Million of Debt Financing LTC Properties, Inc. (NYSE:LTC) announced on Monday it had entered into a private placement of 12-year senior unsecured notes amounting to $85.8 million to a group of institutional investors. The notes have a 5.03% interest rate and mature on July 19, 2024, with scheduled annual principal […]
Prudential Closes $13.7 Million Construction Take-Out Loan for Ohio Community Prudential Mortgage Capital Company, the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU), recently closed a $13.7 million construction take-out loan for an Ohio senior living community. Parker Place is a three-story, 124-unit independent living complex located in Mentor, Ohio. The loan term is […]
Sabra Health Care REIT, Inc. (Nasdaq:SBRA) recently acquired four skilled nursing facilities in two separate transactions for a total of $27.5 million. The first three properties were acquired on June 1 in a sale-leaseback transaction with affiliates of Aurora Health Management, LLC for $21.8 million. Two of the facilities are located in Connecticut, and the […]
Sabra Health Care REIT, Inc. (NASDAQ:SBRA) recently acquired two skilled nursing facilities located in Pennsylvania for $29.9 million, and also funded a mezzanine loan investment for Meridian Equity Investors. The nursing facility acquisitions were a sale-leaseback transaction with affiliates of the sellers; the purchase prices was funded with available cash. Each facility has 60 licensed […]
There was widespread uproar in the skilled nursing industry last summer when the Centers for Medicaid & Medicare Services (CMS) announced an upcoming cut to Medicare reimbursement rates. The cuts have been in effect for a full quarter now, and it looks the industry is still hanging on—for now. REITs: Less Impacted Than Expected HCP, […]
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