Health Care REIT On Buying Spree

February 17, 2011. In the course of a few weeks, spanning from the end of December 2010 into January 2011, Health Care REIT seemed to dominate the health care REIT investment market.  The company recently announced......

four new transactions, three of which have closed with the fourth pending, totaling $1.9 billion of new investments.  Only one of the transactions, for $600 million with Brandywine Senior Living (and a whopping $325,000 per unit), is the traditional sale/leaseback structure, while the other three are the newer RIDEA structures, which involve a management agreement rather than a lease.  In addition to Brandywine, Health Care REIT purchased from Australia-based GPT Group its 95% interest in 34 Benchmark Senior Living-operated properties for $845.5 million, seven properties from Senior Star Living for $236 million and 12 properties from Silverado Senior Living for $222 million.  Health Care REIT already owned some properties leased to Senior Star and Silverado that were contributed into those new ventures as well.  We will have more details on these transactions in the March issue of The SeniorCare Investor.   

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