Post Acute & Senior Living: Ventas pulls trigger on its announced SNF spin-off, creating new REIT
CHICAGO – Ventas Inc. (NYSE: VTR) recently acted upon its previously announced plan to create a new spin-off entity, a skilled nursing facility (SNF) REIT. According to a Form 10 registration statement filing with the SEC, the new entity is known as Care Capital Properties Inc. (CCP), a publicly traded REIT. The new company holds […]
Transactions: RREEF affiliate acquires Mass General-anchored MOB for $123.3 million
BOSTON – A 10-story, 193,230 square foot MOB on the campus of Massachusetts General Hospital in Boston has been sold for $123.3 million, or about $638 PSF.
Industry Pulse: Crowdfunding is being used to raise funds to invest in medical office buildings (MOBs). iStock
Crowdfunding website raises funds to invest in U.S. MOBs You’ve probably heard of “crowdfunding” or “crowdsourcing.” That’s when someone funds a venture by raising small amounts of money – often just a few dollars per person – from many investors, usually online. Kickstarter and similar websites have raised funds for everything from business startups to […]
Transactions: Norvin closes $66M deal in New York
NYU to repurpose Long Island City industrial building for ambulatory care facility By John B. Mugford An affiliate of the New York-based real estate private equity firm Norvin Healthcare Properties has acquired a two-story, 45,000 square foot property in one of New York’s hottest neighborhoods in a transaction valued at about $66 million, or $1,467 […]
Post Acute & Senior Living: Prudential Real Estate Investors tops expectations with $629M capital raise
MADISON, N.J. – Madison-based Prudential Real Estate Investors (PREI), a division of Prudential Financial Inc. (NYSE: PRU), recently closed a $629 million comingled fund, its fifth and largest such fund. The company says it is investing the capital in three popular types of senior housing: memory care, assisted living and senior apartments.
Industry Pulse: On the Record – Danny Prosky
What are your investment goals regarding different product types?
Capital Markets: MOBs with a high number of tenants
It’s important to use a lender with medical office experience when financing By Erik Tellefson Medical office buildings (MOBs) with a high number of tenants (average 1,500 square feet or less per tenant) are often found in metropolitan statistical areas with high population densities where space is at a premium and the subject tenancy utilizes […]
Industry Pulse: Everyone seems to have their eye on this sector
What does healthcare real estate have to do with the oil and gas industry? Read on. Those of us who have been involved in healthcare real estate (HRE) for a decade or more can remember a time when most investors didn’t give the HRE sector the time of day. Today, it seems like a new […]
Post Acute & Senior Living: NorthStar pays $640M for CCRCs
The REIT acquired 3,637 units from subsidiaries of Fountains Senior Living By Erin E. Porter New York-based NorthStar Healthcare Income Inc. recently entered a purchase and sale agreement and joint escrow arrangement for the $640 million purchase a portfolio of 15 continuing care retirement communities (CCRCs) with 3,637 units, according to a Form 8-K filing […]
Post Acute & Senior Living: SNH acquisition tops $790 million
Trust closed May 1 on 37-community deal with CNL Lifestyle Properties Inc. By Erin E. Porter Senior Housing Properties Trust (NYSE: SNH), a Newton, Mass.-based real estate investment trust (REIT), recently announced that it has closed on the acquisition of a $763 million portfolio containing 37 private pay senior living communities across 16 states.
REIT Report: A new REIT joins healthcare arena
Community Healthcare Trust to focus on properties in rural healthcare By Connie M. McCaffrey On the surface, it might look as if a newly launched, medical-focused real estate investment trust (REIT) is joining an already too-crowded healthcare real estate (HRE) arena.
Publisher’s Letter: It’s a deluge of deals
We’re busy tracking more and bigger transactions Dear Reader: There are a number of ways to track the volumes of sales of medical office building (MOBs) and other healthcare real estate (HRE). Some people turn to the commercial real estate data services, including Real Capital Analytics (RCA) Inc. and Revista. Others rely on reports from […]
Companies & People: ARCO/Murray Construction begins development of 31,200 square foot facility in Brandon, Fla.
BRANDON, Fla. – ARCO/Murray Construction recently began developing a 31,200 square foot facility for Community Health Centers in Brandon, about 12 miles east of Tampa. Community Health Centers is a not-for-profit organization that provides health services to underserved communities. The facility will house the organization’s corporate headquarters and a variety of healthcare services, including general […]
Companies & People: Wells Fargo meets senior housing development boom with specialty finance group
CHARLOTTE, N.C. – San Francisco-based Wells Fargo & Co. (WFC) recently created a new specialty finance group dedicated to the growing demand for senior housing.
Companies & People: JLL names Susan Silverman as SVP leading new business development and projects
NEW YORK – Jones Lang LaSalle (NYSE: JLL) announced that healthcare facilities veteran Susan Silverman has been named senior VP of the firm’s New York-based Project and Development Services Group.