More New Capital Enters Seniors Housing
A fully-integrated real estate firm that is well known in the student housing world announced its foray into the seniors housing industry. Landmark Properties focuses on the development, construction, acquisition, investment management, and operation of high-quality residential communities, but the company’s intent is to invest in ground-up development and acquisition opportunities in seniors housing through partnerships with best-in-class operators. It cited the industry’s recovery and the incoming supply and demand imbalance as part of its motivation to enter. Landmark Properties appointed industry executive Shashank Goel as Senior Director of U.S. Senior Housing Investment Management.... Read More »
Inspirit Senior Living Appoints New President
Torey Riso is heading back to the operating world, joining Inspirit Senior Living as President as of March 16. He joins Dave McHarg, who is the CEO of Inspirit and Founding Partner of the company. Since its founding in 2015, Inspirit has grown to 37 properties under management, with Inspirit holding an equity interest in around half of those. The platform is also well positioned to continue its growth trajectory through both management opportunities and strategic value-add/turnaround equity investments with institutional partners. Inspirit could take advantage of several REITs’ desire to grow their SHOP portfolios. Plus, it continues to work closely with Venue Capital, founded by Care... Read More »
Janus Living’s IPO Results
Janus Living has completed its initial public offering, raising $878 million after deducting the underwriting discount and estimated expenses payable by the company. The REIT sold 48.3 million shares of its Class A-1 common stock at $20 per share, including the full exercise of the underwriters’ 6.3 million-share option. It made its New York Stock Exchange debut March 20 under the ticker “JAN,” with shares trading well out of the gate. The stock opened at $23.50, climbed as high as $23.96 intraday and closed at $23.61. The net proceeds received from the offering are expected to be used to pursue acquisitions and investment opportunities, in addition to general corporate purposes. The... Read More »
Janus Living Goes Public After Upsizing IPO
Janus Living, a Healthpeak Properties-formed REIT and now the only publicly traded U.S. REIT fully dedicated to seniors housing with its entire portfolio structured under RIDEA, has launched its initial public offering of Class A-1 common stock. The company is now listed on the NYSE under the ticker “JAN.” It plans to pay a quarterly dividend of $0.1425 per share, or $0.57 annually, representing an approximate 3% yield. The night prior to the IPO, the company upsized the offering to 42 million shares, from 37 million, and priced the deal at the top of its $18 to $20 per share range. At pricing, Janus Living was expected to raise $840 million, up from its previous range of $666 million to... Read More »
State of the Healthcare M&A Market Webinar
LevinPro HC convened a panel of healthcare dealmaking experts to talk about M&A trends across the healthcare services spectrum, valuation metrics, private equity activity and regulatory headwinds. The conversation also covered our latest healthcare M&A statistics. Ben Swett, Managing Editor of LevinPro HC moderated the panel, which included John Tiedmann, Managing Director of Physician Growth Partners, Bill Hoffman, Shareholder of Polsinelli, and Matt Bogle, Managing Director of Intrinsic. Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
