A couple of REITs announced transactions at the end of May: a small one in North Dakota and one large deal abroad. First, North Dakota-based Edgewood Real Estate Investment Trust announced it plans to acquire a financially distressed senior living community in the town of Dickinson (western North Dakota). The seller was First International Bank and Trust, which foreclosed on the community in 2015. Dickinson State University owns the land the community sits on, and will continue to do so. Edgewood will lease the community to its operating subsidiary, Edgewood Healthcare, upon closing.

Then across the pond, Omega Healthcare Investors vastly increased its holdings in the United Kingdom, acquiring 18 care homes from Gold Care Homes for approximately $113 million. The REIT now owns 53 facilities in the country, 35 of which it leases to its other British operating partner, Healthcare Homes Group. In conjunction with the acquisition, OHI also entered into a new $1.8 billion senior unsecured revolving and term loan credit facility, comprised of a $1.25 billion multicurrency revolving credit facility, a $425 million term loan and a $129 million (£100 million) term loan. OHI also amended and restated a $250 million senior unsecured term loan and, its subsidiary, OHI Healthcare Properties Limited Partnership, entered into a new $100 million senior unsecured term loan credit facility. All facilities were effective May 25, 2017. With that, we expect to see a few more deal announcements to flow into our inboxes soon.