Seniors Housing Weekly Update - Senior Care M&A Market Continues Surge

September 18, 2012


 

September 18, 2012. 60 Seconds with Steve Monroe. After a record August, senior care M&A activity remains robust......

Senior Care M&A Market Continues Surge

So, after a record M&A month in August, at least in terms of number of transactions, you would think there might be a slowdown? Wrong. Health Care REIT finally announced who would be the buyer of the Sunrise Senior Living management business. It is a joint venture with KKR, Beeken Petty O’Keefe and Coastwood Senior Housing Partners, and they will be paying $130 million. Care Investment Trust, the smallest of the publicly traded health care REITs, nearly doubled the size of its portfolio with a $106.5 million acquisition of seven assisted living and memory care properties in three states from Juniper Communities using a RIDEA structure. That comes to about $260,000 per unit, but the communities have an average 94% occupancy rate. And global investment firm Safanad, in partnership with Formation Capital, just announced the acquisition of a portfolio of 68 skilled nursing facilities in East Coast states for about $750 million. What a week.

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