Public companies have made a statement so far in June, with a couple of REITs, one publicly traded operator and two foreign firms announcing acquisitions this week. First, across our border, Ontario-based Sienna Senior Living added one more Ontario retirement community to its portfolio. The 70-unit community in the town of Kingston sold for approximately […]
Just a week after announcing it exercised a purchase option on five assisted living/memory care communities from Bickford Senior Living, National Health Investors has made another large purchase, including two Connecticut CCRCs for $56.3 million, or $119,787 per unit/bed. Built in 1968 with a 2009 renovation, the 241-unit/bed community in Bridgeport features 186 independent living […]
Further expanding its relationship with Bickford Senior Living, National Health Investors exercised its purchase option to acquire five assisted living/memory care communities from Bickford for $87.5 million, or $315,884 per unit, with an approximate cap rate of 8.3%. Although the properties are not included in the existing joint venture between the two entities, the companies […]
National Health Investors (NYSE: NHI) made plenty of news this month, starting with the unexpected announcement that CEO Justin Hutchens was stepping down to become the CIO of HCP. The company also made three acquisitions this month, totaling $33.5 million. First, in a sale/leaseback transaction, NHI acquired a 42-unit independent/assisted living community in Roscommon, Michigan […]
As many of you may know, National Health Investors and Bickford Senior Living are in the middle of their joint venture to build 36 assisted living/memory care communities in eight states. The joint venture is mostly funded with borrowings on NHI’s unsecured bank credit facility, but KeyBank National Association recently announced that it secured $78 […]