The Dealmakers Forum E-Newsletter- September 26, 2012

 

Bringing You Senior Care M&A Deals and News
 

September 26, 2012 Issue:

  1. Seniors Housing Weekly Update: 60 Seconds with Steve Monroe
  2. Recent Senior Care M&A Deals 
  3. IL/AL Combined Acquisition Market
  4. Webcast Calendar 

Seniors Housing Weekly Update: 60 Seconds with Steve Monroe
Legal Problems For Some Operators. Unfortunately, the senior care business has been making a lot of legal headlines lately. First of all, a federal grand jury finally indicted Jon Harder, founder and former CEO of Sunwest Management, on 56 counts including mail and wire fraud, money laundering and criminal forfeiture, claiming he defrauded investors out of $130 million.......Read More
 

CIT Healthcare 
CIT Healthcare is committed to helping healthcare companies grow. We offer comprehensive financing solutions and advisory services across the healthcare industry, such as Leverage Finance, Asset-Based Lending, Mergers & Acquisitions, and Healthcare Real Estate Finance. With deep expertise and experience, and a focus on middle market companies, we offer tailored products and advice that meet our clients’ most complex challenges.  For more information, visit cit.com/healthcare or call 800-547-7026.

 

Recent Senior Care M&A Deals

LONG-TERM CARE

Acquirer

Target

Price

Care Investment Trust

7 Juniper Communities ALFs

$106.5 million

KKR Joint Venture

Sunrise Sr. Living Management Co.

$130.0 million

Cornerstone Core Properties REIT, Inc.

 71-bed Memory Care Facility

 $8.5 million

Cornerstone Core Properties REIT, Inc.

150-bed Skilled Nursing Facility

$15.0 million

 

Upcoming Interactive Webcast:
Design For Flexibility: New Looks, New Footprints
Thursday, September 27, 2012, 1:00 pm ET            
Can we expect a “sea change” in senior living design in the near term? Some architects and interior designers believe that’s exactly the case. Our panel of experts will analyze what the future holds: Susan Brecht (Moderator), President, Brecht Associates; Derek Dunham, Mature Marketing Strategist, Varsity; Rockland Berg, Principal and Director of Development, three: Living Architecture; Christine Kennedy, Executive Director, Institute for Age-Friendly Housing; Leslie Moldow, Managing Principal, Perkins Eastman. Go to http://www.levinassociates.com/conferences/1209b-online-conference or call 800-248-1668 to register.

 

IL/AL Combined Acquisition Market
A nice little campus in Washington was recently purchased by National Health Investors (NYSE: NHI) for approximately $22.8 million, or $170,300 per unit/bed.  Closing costs and additional adjustments took the total cost higher.  Built in 1994 on 13 acres and well-maintained, the campus includes 48 assisted living units, 43 independent living cottages, and a 47-bed short-term-stay skilled nursing center.......Read More

 

Webcast Calendar...Click here to see more