Property Types Seniors Housing
Colorado Seniors Housing Project Scores $41M Financing
June 10, 2009
The Denver regional office of NorthMarq Capital arranged a $41 million construction/permanent loan for The Carillon at Boulder Creek, a 117-unit senor living community located at 2525 Taft Drive in Boulder, Colo.
Cambridge to Buy Up Seniors Housing, Healthcare Debt
May 06, 2009
Cambridge Investment and Finance Co. plans to begin acquiring outstanding senior housing/healthcare loans from lenders and financial institutions that are seeking to create liquidity by removing that debt from their balance sheets.
Relative Stability of Seniors Sector Helps Borrower Bring in $90M in Loans
April 28, 2009
As is the case with the multi-family industry, seniors housing is faring better than such real estate sectors as office and retail, and can still rely on the government for financing assistance in the midst of the credit crunch. In both cases, it is market fundamentals that are buoying the sectors. A case in point is Cambridge Realty Capital Cos.' recent closing of $90.6 million of HUD-insured Section 232 loans on behalf of an Illinois-based borrower for the refinancing of a group of 10 skilled nursing facilities, referred to as the Granite Portfolio.
Health Care REIT Closes $133M Freddie Mac Loan
April 08, 2009
Health Care REIT Inc. closed a $133 million first mortgage loan secured by 12 senior housing properties. The 10-year debt has a fixed interest rate of 6.10 percent. KeyBank Capital Markets Inc. originated the loan and intends to sell it to Freddie Mac.
Economic Update -- Seniors Housing Specialist on Tenterhooks
March 04, 2009
The prospect of un-refinanceable debt has yet another commercial property company on thin ice, in this case McLean, Va.-based Sunrise Senior Living. The assisted- and independent-living specialist not only lost $305.6 million in the fourth quarter of 2008 (and $439.2 million for all of 2008), it's also facing an imminent--end of March--deadline on renegotiating about $95 million in debt and $24.4 million in outstanding letters of credit.
Seniors Housing Loans, Capitalization Rates Feel Credit Crunch
Feb. 02, 2009
As the economy continues its downward spiral and credit markets suffer, loan performance and capitalization rates in seniors housing and care feel the heat, too, according to third quarter 2008 data tracked by the National Investment Center for the Seniors Housing & Care Industry (NIC).
Clarett Group Buys FountainGlen
Jan. 13, 2009
The Clarett Group acquired FountainGlen Portfolio Management Inc., a developer and operator of age-restricted residential communities located in California cities such as Huntington Beach, Pasadena, Anaheim Hills and Valencia.
Emeritus Closes Refi Deal, Extends $73M Debt
Jan. 05, 2009
Assisted living and Alzheimer's care facilities provider Emeritus Corp. capped the end of the year by ensuring there would be no material maturities hanging over its head in 2009. The company wrapped up the $36.3 million refinancing of seven properties through Freddie Mac, a move that allowed it to pay down and extend an existing debt with Capmark.
Ventas Closes $126M in Refis on 8 Assisted Living Communities
Dec. 08, 2008
Ventas Inc. has closed eight first-mortgage loans totaling $126 million through Freddie Mac on eight senior housing communities in three states managed by Sunrise Senior Living Inc. Proceeds of the loan were used to repay in full $71 million of existing debt, secured by the same facilities that was due to mature in mid-2009.
Health Care REIT Nixes $643M Seniors Housing Investment
Nov. 03, 2008
It's a sign of the times. Almost exactly two months after revealing it had entered into an agreement to acquire an Arcapita Inc. affiliate's 90 percent stake in a joint venture owning 29 senior housing properties, Health Care REIT Inc. has announced that the $643.5 million deal has been aborted.
Chartwell Completes Acquisition of Remaining JV Interests in Quebec Property Manager, Properties
Oct. 30, 2008
Chartwell Seniors Housing Real Estate Investment Trust and Groupe Melior has announced that Chartwell has completed the acquisition of the remaining 50 percent interest owned by Residences Melior (an affiliate of Groupe Melior) in seven retirement properties in the Province of Quebec, as well as Melior's 50 percent interest in the joint venture property management company managing all of Chartwell's senior housing communities in Quebec.
Emeritus Wraps Up $299M Assisted Living Deal
Oct. 22, 2008
Four months after it first announced it was buying 29 communities from Health Care REIT Inc. for $299 million, Emeritus Corp. has completed the second part of the transaction with the acquisition of the last 10 assisted living communities for approximately $77.2 million.
Parkbridge Completes $32M Financing, Closes on Seniors Communities
Oct. 07, 2008
Parkbridge Lifestyle Communities Inc. has announced the completion of a $32 million financing of one of its properties. The financing generated net proceeds of $13.2 million after repayment of a pre-existing first mortgage loan and associated transaction costs. The net proceeds were used to repay a $9 million secured facility and to partially repay amounts drawn under the corporation's operating lines.
HCP Completes Integration of $3B Slough Portfolio
Oct. 01, 2008
About six weeks after concluding its offering of 14.95 million shares of common stock, Long Beach-headquartered HCP Inc. has completed the integration of its $3 billion acquisition of Slough Estates USA Inc. that closed in August 2007. The Slough portfolio is primarily located in San Diego and San Francisco, two of the three largest life science clusters in the country.
Chartwell to Buy Out Seniors Housing JV
Sept. 05, 2008
Residences Melior, an affiliate of Groupe Melior, of Montreal, has exercised its right under a joint venture agreement with Chartwell Seniors Housing REIT to sell to Chartwell the remaining 50 percent interest owned by Melior in seven assisted-living properties in the Province of Quebec.
Health Care REIT Makes $643M Seniors Buy
Sept. 03, 2008
Health Care REIT Inc. has agreed to acquire a 90 percent interest in a portfolio of 29 seniors housing properties from an affiliate of Arcapita Inc., an investment bank based in Atlanta, for $643.5 million.
Survey of Seniors Shows Demand on Rise for Fitness Facilities
Sept. 02, 2008
The days of relying solely on the golf course for exercise in post-retirement years are quickly disappearing, according to a survey conducted by Orlando-based Crossman & Co., Central Florida's largest third-party leasing and management company.
Healthcare REIT Snaps Up Wellness Centers in $100M Sale-Leaseback Deal
Aug. 28, 2008
Four wellness centers operated by Life Time Fitness Inc. have come under the ownership of Senior Housing Properties Trust, courtesy of a $100 million deal. Life Time Fitness will continue to occupy the properties under a triple-net lease agreement through its subsidiary, LTF Real Estate Co.
Emeritus to Lease 11 Seniors Housing Properties from HCP
Aug. 26, 2008
Assisted living services provider Emeritus Corp. will soon bring a new group of seniors housing properties under its umbrella now that it has signed an agreement with affiliates of HCP Inc. to lease 11 communities accounting for an aggregate 1,462 units in six states from California to Massachusetts. The lease carries a 10-year term and allows Emeritus the option to acquire the assets during the period commencing with the close of the fifth year of the lease until its expiration. If the company decides to acquire the portfolio, the price tag will be a minimum $300 million.
Senior Living Facilities Draw More Men
Aug. 18, 2008
Senior living communities, traditionally home to populations of predominantly female residents, are now experiencing significant growth of their male populace. The trend is particularly prevalent at independent living facilities--be they dedicated independent living properties or housing units within continuing care retirement communities.
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