Earnings Announcements Feature Major M&A Moves

The mid-summer M&A doldrums abruptly ended this year with the earnings announcements from the publicly traded REITs. They started with Welltower, which announced its $1.8 billion Benchmark Senior Living portfolio sale (for 48 properties) and several major portfolio acquisitions with existing partners Sunrise Senior Living and Discovery Senior Living and new partners Balfour Senior Living […]

Welltower Makes Major M&A Moves

Welltower made M&A waves in its latest earnings report, announcing a major disposition of its Benchmark Senior Living assets but countering that with several large acquisitions and development agreements. The company signaled that despite the Benchmark sale, it is not lowering its position in the senior living market, offsetting the 48 properties sold with a […]

REITs Are Moving Assets Again

Just when we thought it was safe to go outside again, it was revealed that Welltower had transferred the operations of 20 memory care and Alzheimer’s communities from one of its formerly favored tenants, Silverado Senior Living, to a formerly much smaller tenant, Frontier Management. These 20 properties represent 50% of Silverado’s memory care operations, […]

Welltower Pays $100 Million-Plus for Denver Community

Welltower has picked up a Denver, Colorado senior living property to the tune of $118 million, or roughly $581,000 per unit. Originally built by the seller, AEW, in late 2014 for approximately $74 million, the community featured 203 total units with a mix of independent living, assisted living and memory care and was operated by […]

Welltower Acquires Two South Bay Partners Properties

Welltower announced that it has added two more San Antonio senior living properties to its portfolio. Originally developed by the seller, South Bay Partners, these communities opened in 2016 adjacent to each other in the Dominion area of northwest San Antonio. They combine for 335 units of independent living, assisted living and memory care. Welltower […]

Genesis HealthCare Buys and Divests

As it continues to improve its capital structure and rationalize its lease exposure, Genesis HealthCare has joint ventured with Next Healthcare Capital to buy 15 skilled nursing facilities with 2,147 total beds previously leased from Welltower located in Pennsylvania (6), New Jersey (4), Connecticut (3), West Virginia and Massachusetts. Genesis will own a 46% stake […]

Sale of Quality Care Properties Approved

By a margin of 26-1, shareholders approved the sale of Quality Care Properties to Welltower for $20.75 per share in cash, with Welltower teaming up with ProMedica Health System, which will own the HCR ManorCare operating business, lease the facilities from Welltower, and also own the home health and hospice business. Shareholders also approved the […]