Evans Senior Investments, headquartered in Chicago, Ill., recently announced the sale of a Colorado senior housing community for $28 million, or $225,000 per unit, to VTR Vistas Longmont LLC, which was formed by Chicago-based REIT Ventas, Inc. (NYSE:VTR). Built in 2009, The Vistas, located in Longmont, Colo., is a 124-unit independent and assisted living community […]
Ventas
Brookdale Senior Living recently purchased Grand Court retirement home from Ventas Realty Limited Partnership for $15.95 million, reports the Business Review. The buyer is listed as BLC Fort Myers-GC LLC, with Chicago-based law firm Barack Ferrazzano Kirschbaum & Nagelberg LLP listed on the deed. Grand Court is a 183-unit independent living facility that features a […]
Ventas, Inc. (NYSE:VTR) announced on Feb. 23 that it’s looking for new tenants for 64 healthcare assets that are currently leased to Kindred Healthcare, Inc. (NYSE:KND) under four master leases, after the healthcare services company opted not to renew the majority of its leases with the REIT. “We believe these assets will be attractive to […]
Construction for seniors housing is still very low, according to the National Investment Center for the Seniors Housing & Care Industry, but if the most recent round of quarterly earnings calls are any indication, it looks like some real estate investment trusts (REITs) are cautiously beginning to finance some development projects. HCP, Inc.: Partnering with Brookdale for […]
Ventas, Inc. (NYSE:VTR) saw its normalized funds from operations (FFO) skyrocket 114% to $259.3 million for the fourth quarter ended Dec. 31, 2011, thanks to acquisitions made in the period. “Ventas delivered excellent results in 2011, as our portfolio performed well while we successfully integrated over $11 billion of accretive acquisitions,” Ventas Chairman and CEO […]
HCP, Inc. (NYSE:HCP) saw its funds from operation per common diluted share plunge 40% to $0.37 in the fourth quarter ended Dec. 31, 2011 compared to the previous year’s $0.67, after the company agreed to pay Ventas, Inc. (NYSE:VTR) a $125 million settlement. In the fourth quarter, HCP reported total revenues of $461.6 million, a 35% increase from […]
Healthcare real estate investment trusts (REITs) such as the Chicago-based Ventas, Inc. participated heavily in M&A activity in 2011, and with their low costs of capital, they effectively cornered the market. And with cap rates falling, these types of deals are getting more expensive and might not end up being very profitable, reports Crain’s, which could […]
Senior Housing News recently got the chance to speak with John Cobb, the senior vice president and chief investment officer of Chicago-based Ventas Healthcare REIT (NYSE:VTR). Although he’s only been with Ventas for about a year and a half, Cobb has a longstanding relationship with Ventas president Ray Lewis, with whom he’s worked for about […]
There’s been a growing spotlight on medical-related real estate in the past couple of years, especially considering the activity of real estate investment trusts (REITs) who took the healthcare industry by storm with mega million- and even billion-dollar deals. While most of those deals were for skilled nursing facilities and assisted living communities, medical office […]
Ventas, Inc. (NYSE:VTR) and Cogdell Spencer Inc. (NYSE:CSA) announced on Dec. 27 that the Boards of Directors of both companies have approved a definitive agreement under which Ventas will acquire Cogdell and its 72 high-quality medical office buildings in an all-cash transaction. At closing, Ventas’ investment, including its share of debt, is expected to approximate […]
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