Omega Healthcare Investors Snags Small REIT
Omega agrees to buy MedEquities Realty Trust in a cash and stock deal worth $632 million plus assumed debt. I hope everyone had a good break these past few days. Everyone, that is, except the folks at Omega Healthcare Investors and MedEquities Realty Trust (MRT). Omega announced today that it is buying MedEquities in a stock and cash transaction valued at about $633 million plus $265 million of net debt. Shareholders are receiving a very healthy 50% premium. MRT owns 34 facilities in seven states with 2,755 beds run by 10 different operators. About 75% of the beds are skilled nursing with some assisted living, and the remainder is a smattering of LTACs, IRFs, behavioral health and an MOB.... Read More »
Jingle WELLs
‘Twas the night before NIC… ‘Twas the night before NIC And all through the building Not a broker was stirring. Not even brothers Hilding Multifamily developers had forgotten to take their meds While visions of loose money danced in their heads And KBG in her kerchief, and Lerner in his cap Had just settled down for one last look at NIC Map When down in the bar, there arose such a clatter Arnie Whitman sprang into action to see what was the matter Michael and John had just stepped into the ring To see which one had the best swing The swoon of the WASH members was too much to bear As everyone lost interest and headed for the stair When, what to a... Read More »
The Battle For The Post-Acute Patient
LTACs did not look too good in a recent OIG report, but SNFs fared better. Last month we hosted a timely webinar on who was going to win the battle for the post-acute patient, when and how. The “when” is still a subject of debate, but the “who” and “how” much less so. The who is definitely leaning towards skilled nursing facilities. But part of the problem is the name, which is just one reason why providers are changing their names to transitional care, post-acute care, rehab care…anything to get the reference to “nursing home” out of the equation. How many 35-year old’s would go to a nursing home for their post-op rehab? Not many. Transitional care? No problem. The “how” is a no-brainer:... Read More »
Brookdale Activist Saga Goes On
Here we go again. Land & Buildings Investment Management LLC is stirring up the pot with shareholders yet again after meeting with several members of Brookdale Senior Living’s board in what appears to be a very friendly meeting. Everyone would like Brookdale’s share price to be much higher than it is, and Land and Buildings is still pursuing the concept of spinning out the owned real estate assets into a new REIT using the RIDEA structure. But in a new twist, they want the best properties spun out into this REIT. They claim that it would produce $1.00 per share of cash flow (adjusted funds from operations), and that the market multiple on that would be in the mid to high teens,... Read More »
Great Financing Product For Acquisitions
Bridge loans are becoming increasingly important for acquisitions and renovations projects. Find out the details on this important webinar. If you are in the market for acquisitions, especially value-add acquisitions, or you want to do some major renovations on your existing building, do I have a financing product for you. I am talking about bridge loans, which are basically short-term loans to get you from point A to point B with your real estate. Their popularity has been increasing in the past few years, with more lenders and more types of products, providing even more liquidity to the seniors housing and care sector than before. Plus, some of the bridge lenders have created their own... Read More »Schedule a demo
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