In the Pipeline: Erickson Living to Redevelop Marriott HQ Into CCRC

Erickson Living Plans Retirement Community at Marriott International HQ Erickson Living announced this week it would repurpose Marriott International’s 775,000 square-feet global headquarters in Bethesda, Maryland, into a continuing care retirement community, once the hotel conglomerate relocates to its new headquarters in downtown Bethesda, in 2022. Marriott broke ground on the 1 million square-foot project […]

Welltower Scales Back on Brookdale Portfolio, Forms JV With New Operator Pegasus

Brookdale Senior Living (NYSE: BKD) and Welltower Inc. (NYSE: WELL) have agreed to an early termination for Brookdale’s triple-net lease obligations on 37 senior living communities, in a “mutually beneficial” move that reduces Welltower’s participation with Brookdale and allows more flexibility for the largest senior housing operator in the nation. At the same time, Welltower has formed […]

Welltower Takes Occupancy Hit in Challenging Senior Housing Environment

Welltower Inc.’s (NYSE: WELL) senior housing occupancy declined as expected in the first quarter of 2018, according to an earnings report published late on Wednesday. The Toledo, Ohio-based health care real estate investment trust (REIT) also announced it has reached an agreement to acquire Quality Care Properties (NYSE: QCP) in a $1.95 billion, all-cash transaction.  In […]

Welltower, ProMedica Reportedly Pursuing $2 Billion QCP Acquisition

Welltower (NYSE: WELL), one of the “Big 3” senior housing real estate investment trusts (REITs), is rumored to be in talks to purchase Quality Care Properties Inc. (NYSE: QCP).  Welltower and ProMedica, a nonprofit hospital network operator, reportedly made a $2 billion offer to acquire skilled nursing-focused QCP, Reuters reported Wednesday, citing people familiar with the situation.  This […]

Transactions & Financings: Chicago Pacific Founders, CBRE

MidCap Closes First Mortgage Loan for Florida Community MidCap Financial, a commercial finance firm that concentrates on middle-market transactions, recently closed a transaction with Zon Living Concepts, LLC. The senior housing and senior care company owns and operates Zon Beachside, a Class A assisted living and memory care community in Indian Harbour Beach, Florida. The […]

Transactions & Financings: Welltower’s $130 Million CCRC Acquisiton

Welltower Acquires CCRC in Florida for $130 Million Toledo, Ohio-based health care real estate investment trust (REIT) Welltower, Inc. (NYSE: WELL) has officially acquired Stratford Court of Boca Pointe, a 527-bed continuing care retirement community (CCRC) in Boca Raton, Florida, for $130 million, according to the South Florida Business Journal. The seller was Newton, Massachusetts-based REIT Senior Housing Properties […]

Transactions & Financings: Welltower’s New NYSE Ticker Symbol

Welltower to Change NYSE Ticker Symbol to “WELL” Health care infrastructure company Welltower, Inc. has announced a change to its New York Stock Exchange (NYSE) ticker symbol, from “HCN” to “WELL.” The Toledo, Ohio-based company will begin trading under “WELL” on February 28. “Welltower owns, manages and has developed the largest network of premium residential senior care […]

Welltower Taps New Exec, Adds Investor in NYC Project

Welltower Inc. (NYSE: HCN) ended 2017 with a few new additions. Specifically, the Toledo, Ohio-based real estate investment trust (REIT) announced on Wednesday a new addition to its executive team, as well as a new investor in its planned midtown Manhattan senior living development. Mark Shaver is set to join Welltower as the REIT’s senior […]

Tax Reform Could Strike Blow to Nonprofit CCRCs

Comprehensive tax reform took a big step forward with the passage of a Senate bill in the early hours of Saturday morning. As House and Senate lawmakers now work on hammering out a single version of the legislation, senior housing stakeholders are speaking out about their top concerns–including, notably, a provision that could deal a major blow […]