National appraisal and advisory firm HealthTrust has had a busy month. On March 1, they closed on the purchase of the assets of the company from Sabra Health HealthCare REIT, which took over ownership as part of Sabra’s acquisition of Care Capital Properties last year. Care Capital had purchased HealthTrust when it was spun out […]
After already announcing that it has put on the market 35 of its properties leased to Genesis Healthcare, Sabra Health Care REIT has successfully sold 20 of them to an undisclosed buyer for $103 million. The memorandum of understanding with Genesis to market and sell these 35 properties followed Sabra’s merger with Care Capital Properties […]
Fresh off the heels of its $3.0 billion merger with Care Capital Properties in August and its $430 million joint venture acquisition of most of Enlivant’s assisted living properties for an investment of $371 million, Sabra Health Care REIT announced a $430 million acquisition of 24 skilled nursing facilities with 2,216 beds, or a price […]
Sabra Health Care REIT has entered into an agreement to invest in a 49% interest in a joint venture that will own 183 senior living properties operated by Enlivant with the remaining 51% held by TPG Real Estate, which currently owns 100%. They have valued the transaction at $1.62 billion, or $195,600 per unit, with […]
After some dissidents tried to torpedo the deal, shareholders decided bigger was better. Well, the vote is in, and it looks like the merger of Sabra Health Care REIT and Care Capital Properties will go through as planned. It wasn’t easy, and Sabra’s CEO Rick Matros had to deal with two dissident shareholders who controlled […]
By now, most everyone has heard of the problems LTC Properties has had with one of its tenants, Anthem Memory Care. The REIT has a master lease covering 11 Anthem memory care properties located in California, Illinois, Colorado and Kansas. Stand-alone memory care communities, at least those developed recently, have come under some fire as […]
If you go by the number of transaction announced from April 1, 2017 to June 30, 2017, the second quarter may seem a bit slow, especially when compared to the recent quarterly highs of 90 deals in the second quarter of last year and of 93 deals in the fourth quarter of 2016. Keep in […]
Big seniors housing and care companies are back in vogue as acquisition targets, and they are all occurring with the specter of a Brookdale Senior Living buyout looming over the market. First came Kayne Anderson Real Estate Advisors’ $825 million acquisition of Sentio Healthcare Properties and its portfolio of 34 seniors housing and medical office […]
When the Big Three healthcare REITs (Ventas, HCP and Welltower) largely divested their skilled nursing portfolios in the past few years, it prompted questions about the industry’s health. The exodus was kicked off in August 2015 by Ventas, which spun out most its skilled nursing/post-acute care portfolio into a separate REIT, Care Capital Properties (which […]
Long-term care has experienced a dip in M&A, but after nearly three straight years of 80+ transactions per quarter (starting in Q3:2014 with 83), with a couple exceptions, it is about time the M&A juggernaut slows down a bit. The first quarter’s volume fell to 76 deals, down from 93 in the previous quarter and […]