» Four bidders have emerged
as finalists to buy Griffin-American Healthcare REIT II Inc., in a transaction that could value the company at more than $3.6 billion, according to people involved in the negotiations. The operator owns senior living and skilled nursing facilities, hospitals, medical office buildings, lab space and other related properties across 30 states and the United Kingdom. The list of bidders includes Ventas Inc.; Health Care REIT Inc., American Realty Capital Healthcare Trust; and a division of NorthStar Realty Finance Corp.
» Brookdale and real estate
investment trust HCP Inc. have announced plans to create a $1.2 billion continuing care retirement community joint venture. The deal means the companies will own 14 CCRCs, with Brookdale managing the properties. The portfolio, primarily in Florida, includes about 7,000 units that are independent living, assisted living, skilled nursing and memory care. Brookdale will own 51% of the venture, while HCP will own 49%. Brookdale will bring eight campuses to the table while HCP will contribute three HCP-owned properties leased to Brookdale, plus $334 million in cash.
From the June 01, 2014 Issue of McKnight's Long-Term Care News
