Emeritus Corp.’s portfolio has just gotten a lot bigger. In a joint venture with Blackstone Real Estate Advisors VI L.P. and Columbia Pacific Advisors, it closed the $1.2 billion acquisition of a 144-property seniors housing portfolio from Stayton SW Living L.L.C., which parted with the assets as part of its Chapter 11 plan of reorganization.
Health Care REIT Inc. and independent- and assisted-housing owner/operator Merrill Gardens L.L.C. announced plans for a partnership valued at $817 million, joining forces to own and operate a 38-property portfolio of independent-living, assisted-living and dementia-care communities in various coveted markets on the West Coast. Executives at both firms believe the timing is perfect–for their own strategies and to address the demands of the seniors housing market.
Colliers International unveils a seniors housing specialty group.
According to a statement by Fitch, Health Care REIT will use the proceeds to repurchase a portion of its 4.5 percent convertible senior notes due in 2026 and 2027.
According to Harrison Street co-founder, president and CEO Christopher Merrill, the fund expects to raise $500 million, or $1.75 billion in purchasing power.
The 63 facilities comprise 6,607 available beds in 19 states and are part of 30 in-place triple-net leases among 18 operators. The leases generate about $34 million in annualized revenue.
Mississauga, Ont.-based Chartwell Seniors Housing Real Estate Investment Trust can claim full ownership of a six-property senior housing portfolio in the U.S. now that the company has closed the $110 million acquisition of its joint venture partner’s 50 percent ownership stake in the high-quality assets.
Taking advantage of an opportunity presented by its Securities Purchase Agreement with commercial lender CapitalSource Inc., Omega Healthcare Investors Inc. has decided to enhance its real estate holdings with the acquisition of a group of 63 long-term care facilities from CapitalSource affiliates for $295M.
Stockholm-based development and construction group Skanska has been tapped to build the $47.6 million Smyth County Community Hospital in Marion, Va.
Newport Beach, Calif.-based Nationwide Health Properties has acquired five additional medical buildings with an aggregate transaction value of $211 million.