Prudential Real Estate Investors Raises $629M for Seniors Housing Investments

MADISON, N.J. — Prudential Real Estate Investors (PREI) has completed the capital raise of Senior Housing Partners V (SHP) with a total of $629 million in capital commitments. SHP is the fifth in a series of dedicated, closed-end funds designed to invest in the seniors housing industry. PREI is the real estate investment and advisory business of Prudential Financial. (NYSE: PRU).

HCN Sells Interest in MIT Buildings for $573.5M to Reinvest in Seniors Housing

CAMBRIDGE, Mass. — Forest City Enterprises Inc. (NYSE: FCE-A) has entered into a share purchase and redemption agreement to acquire Health Care REIT Inc.’s (NYSE: HCN) 49 percent equity interest in seven life-science office properties and two parking facilities at University Park at the Massachusetts Institute of Technology (MIT) in Cambridge for $573.5 million.

AdCare Completes Public Stock Offering

ATLANTA — AdCare Health Systems Inc. (NYSE: ADK), an investment company specializing in seniors housing, has closed an underwritten public offering of 575,000 shares of its 10.875 percent Series A cumulative redeemable preferred stock at a public offering price of $25.75 per share.

NHI Obtains $78 Million in Fannie Mae Financing

MURFREESBORO, Tenn. — National Health Investors Inc. (NYSE:NHI) has obtained $78 million in Fannie Mae financing through KeyBank National Association. The debt financing consists of interest-only payments at 3.79 percent and a 10-year maturity.

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