In 2018, Discovery Senior Living CEO Richard Hutchinson had a vision for the future of the company — and for the industry. Four years later, he is executing on that vision with major plans underway and new partners in tow. On Wednesday, the company announced a new recapitalization with Coastwood Senior Housing Partners and Lee […]
Financings Brookdale Fefinances $220M Debt to September 2024 Brookdale (NYSE: BKD) announed it refinanced substantially all of its 2023 debt maturities, totaling $220 million, until its next maturity in September 2024. The debt has a variable interest rate of 2.45% over SOFT and is secured by priority mortgages on 24 of Brookdale’s 364 owned communities. […]
Discovery Senior Living and White Oak Healthcare REIT have acquired a 10-building portfolio, which will be operated by Discovery as part of the provider’s strategy of expanding through the creation of largely independent regional management companies. The sale, coming in at more than $100 million, includes communities in Louisiana, Mississippi and South Carolina and contains […]
Having transitioned out of 50-plus communities in two portfolios over roughly the last year, Senior Lifestyle Corp. is now rebuilding scale while continuing to navigate the challenges of Covid-19. The Chicago-based operator — which currently manages around 120 communities — is making progress on both those fronts, CEO Jon DeLuca and Vice Chairman/Chief Investment Officer […]
White Oak Healthcare REIT has closed on the sale of a 31-property portfolio of senior living communities formerly operated by Senior Lifestyle Corp. to two buyers. One of the buyers was Welltower (NYSE: WELL). The real estate investment trust (REIT) picked up 29 communities for about $147 million and tapped Chicago-based Pathway to Living to […]
The recent acquisition of 16 communities from Healthpeak (NYSE: PEAK) was the largest transaction in company history for Discovery Senior Living and marks the start of a strategic shift for the provider, to a structure of regional brands. The deal was publicly announced last week by Irvine, California-based Healthpeak, which is a real estate investment […]
White Oak acquires 4 property senior housing portfolio White Oak Healthcare REIT completed the acquisition of a four community, 482-bed senior housing portfolio which included two communities in Arkansas, one in Florida and one in Pennsylvania. The seller was Baltimore-based Capital Health Group (CHG), which retains a minority stake in the portfolio, completed renovations to […]
A new real estate investment trust (REIT), White Oak Healthcare REIT, is looking to invest $500 million in a mix of senior living and skilled nursing assets. That will equate to about $1.5 billion with leverage factored in, Jeff Erhardt, managing director and chief investment officer of the REIT, told Senior Housing News. The privately […]
