A North Carolina-based senior housing owner and operator has more than tripled the size of its management portfolio, and is setting the stage for a gradual pipeline of new communities over the next decade. Raleigh-based Navion Senior Solutions assumed operations of 10 communities in Kentucky, South Carolina, Tennessee and Virginia through a partnership with Longview […]
The Blackstone Group
Blackstone Buys Two Denver Communities for $27 Million The Blackstone Group, a New York-based private equity firm, purchased two senior living communities southeast of Denver as part of a billion-dollar deal to buy 64 Brookdale Senior Living (NYSE: BKD) properties, announced in late March. The two communities, located in Arapahoe County, were purchased for more […]
Global real estate giant Blackstone Real Estate has filed to create a $5 billion non-traded real estate investment trust (REIT) that will primarily invest in income-oriented real estate, potentially including senior living. The new REIT will be called Blackstone Real Estate Income Trust, Inc. and will be externally managed by its adviser BX REIT Advisors LLC, […]
Long Beach, Calif.-based HCP Inc. (NYSE:HCP) recently bought 30% of a United Kingdom nursing home chain’s junior debt, according to Sky News. In the deal, HCP acquired about £175 million (about $264 million USD) of borrowings from Barchester Healthcare’s property arm at a discount from Isobel, a joint venture between private equity firm The Blackstone Group […]
The use of RIDEA structures in REIT acquisitions is becoming more commonplace in the senior housing sector as a model that helps drive long-term growth, and analysts say the days of healthcare REITs enjoying healthy margins are far from over. “We see the RIDEA structure as a way for the REITs to remain competitive within […]
A federal judge has dismissed the Securities and Exchange Commission’s (SEC) request to slap Sunwest Management Inc.’s former chief executive officer Jon Michael Harder with at least $180 million in civil penalties. The SEC accused Harder of overseeing a corporate fraud scheme that caused investors to lose more than $130 million, but U.S. District Court Judge […]
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