Genesis HealthCare Continues Restructuring

Genesis HealthCare announced additional changes to its capital structure and leased interests in skilled nursing facilities, all for the better. Genesis has partnered with a private investor to purchase 18 nursing facilities previously leased from Welltower and Second Spring Healthcare Investments. Genesis will have a 30% equity stake in these 18 facilities, and lease them […]

KeyBank Arranges Financing for Foundations Health Solutions

KeyBank Real Estate Capital secured an $11 million HUD loan for Foundations Health Solutions to pay down acquisition debt it used to buy a 150-bed skilled nursing facility in Columbus, Ohio. KeyBank had provided the original $87.5 million bridge loan, which supported the acquisition of this Columbus facility plus eight other facilities previously owned by […]

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 […]