Genesis Healthcare (NYSE: GEN), one of the nation’s largest post-acute providers, announced Monday that the company has sold 18 of its assisted living assets located in Kansas. The financial terms of the sale and the buyer were not disclosed. Kennett Square, Pennsylvania-based Genesis used the sale proceeds to repay $54.2 million of its existing bridge loan […]
Skilled Healthcare Group
American House Acquires Spring Lake, Michigan Community Bloomfield Hills-based American House Senior Living Communities is acquiring a 111-unit comment in Spring Lake, Mich., and has plans to renovate it, according to local reports. The community, now American House Lloyd’s Bayou, contains a mix of one- and two-bedroom apartments that range in size from 670 to […]
Genesis HealthCare announced today it has signed a definitive agreement to merge with Skilled Healthcare Group, Inc. (NYSE: SKH) in a 100% stock transaction. Once the transaction is complete, the new company will operate under the Genesis HealthCare name and will be traded on the NYSE. The combined entity will operate a total of 449 […]
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 […]
Grandbridge Seniors Housing Group Facilitates Acquisition Financing Grandbridge’s Seniors Housing and Healthcare Finance Team facilitated bridge financing for the joint venture between Focus Healthcare Partners and Artemis Real Estate Partners on the 192-unit Skagit Valley Senior Village in Burlington, Wash. As the project had been purchased without debt, the loan allowed the joint venture to […]
Greystone Closes $117 Million Portfolio Acquisition of Affordable & Senior Housing Greystone recently announced the closing of a $117 million multifamily transaction in Georgia to be used toward the acquisition and rehabilitation of 44 affordable housing properties, more than half of which are designated senior housing. The portfolio contains 1,362 units that serve low-income households in […]
Cambridge Closes $42.8 Million of Senior Housing & Care Loans Cambridge Closes $14.9 Million Nursing Home Loan Cambridge Realty Capital Companies recently announced the closing on a $14.9 million loan to refinance Green Park, a 188-bed skilled nursing home in St. Louis, Mo., announced chairman Jeffrey Davis. The fully-amortized, 36-year term loan was arranged for […]
Sabra Prices 5 Million Shares of Series A Stock Sabra Health Care REIT, Inc. (Nasdaq:SBRA) announced last Thursday the pricing of an underwritten public offering of 5,000,000 shares, or $125.0 million, of 7.125% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) at a price of $25.00 per share, pursuant to an effective […]
Standard & Poor’s Ratings Services removed six nursing home companies’ from CreditWatch, stating uncertainty over the specifics of the mandated 2% cut required as a result of the Budget Control Act of 2011. S&P affirmed the ratings for Drumm Investors LLC (rated ‘B+’), Genoa Healthcare LLC (‘B’), HCR Healthcare LLC (‘B’), Kindred Healthcare Inc. (‘B+’), Skilled […]
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