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 […]
Senior Housing Properties Trust
Senior Housing Properties Trust (NYSE:SNH) is trying to sell nine senior living communities in an ongoing effort to limit the REIT’s exposure to Medicaid and Medicare reimbursement exposure. The portfolio that SNH is looking to divest has 708 units, and a majority of the combined revenues the communities generate come from government-funded programs, the REIT […]
Ventas tops ASHA’s annual list of largest U.S. senior housing owners for the third year in a row, followed by Health Care REIT, which edged above #3 Brookdale Senior Living for the second spot in 2013. The American Seniors Housing Association’s Top 50 list was released by the National Real Estate Investor with data compiled […]
Senior Housing Properties Trust (NYSE: SNH) today agreed to acquire two Boston medical office buildings (MOBs) for $1.125 billion, following an announcement last month that the company would strengthen its focus on private-pay assets. The acquisition agreement includes SNH acquiring two 15-story biotech MOBs, which include a connected, three-level parking garage in Boston’s burgeoning Seaport […]
Senior Housing Properties Trust’s (NYSE: SNH) sale this week of two hospitals for $90 million looks to further reduce the company’s Medicare and Medicaid footprint and focus in on private pay senior housing assets in its portfolio. SNH announced December 31, 2013 that it closed the sale of two rehabilitation hospitals to a joint venture […]
Capital Senior Living Buys Mass. Assisted Living Community Cassidy Turley, a commercial real estate services provider, arranged the sale of a Massachusetts assisted living community to Capital Senior Living for an undisclosed purchase price. The community, Whitcomb House, located in Milford, Mass., includes three interconnected buildings containing 68 total units within 48,565-square-feet. Two of the […]
Senior Housing Properties Trust (NYSE: SNH) announced Friday that it has entered into an agreement to sell two rehabilitation hospitals to a joint venture for $90 million. The two hospitals to be sold are the 198-bed New England Rehabilitation Hospital located in Woburn, Massachusetts, and 166-bed Braintree Rehabilitation Hospital in Braintree, Mass. Currently leased to […]
Washington Trust Finances $5 Million ALF Washington Trust’s Commercial Real Estate Group provided $5,000,000 in construction financing to Scandinavian Home, Inc. for a 2,000 square feet addition to an assisted living facility in Cranston, RI as well as renovations to existing facilities. Founded in 1930, Scandinavian Home is a non-profit community located in the Edgewood […]
Much ado is made about the blockbuster deals made in recent quarters by the Big 3 REITs, but while Ventas, HCP, and Health Care REIT fight for the large, high-quality senior housing portfolios, smaller-cap REITs are quietly snatching up their own deals at more stable—and reasonable—cap rates. Senior Housing Properties Trust (NYSE:SNH), for example, is […]
Despite a smaller first quarter acquisition pipeline than previously projected and a dwindling number of large, available portfolios, the CEO of Senior Housing Properties Trust (NYSE:SNH) expects the pace will start picking up soon. The REIT is aiming for $300-400 million acquisition pipeline in 2013 but so far has only completed $75 million of acquisitions: […]
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