OVERLAND PARK, Kan., and RICHMOND, Va. — GlynnDevins, an advertising and marketing agency specializing in senior living, has acquired two of its competitors: SB&A Integrated Marketing and Brooks Adams Research.
Company News
BOSTON and NEWPORT BEACH, Calif. — Clearwater Senior Living, a Newport Beach-based seniors housing developer, and Berkshire Group, a Boston-based multifamily investor, have formed a new joint venture that plans to develop and acquire $500 million in seniors housing communities in the Western United States.
IRVINE, Calif. — Lauralee Martin has left her position as president and chief executive officer at seniors housing investor HCP (NYSE: HCP). Michael McKee, the company’s executive chairman, will take over the position until a permanent replacement can be found.
HARTFORD, Conn. and PLANO, Texas — Cornerstone Real Estate Advisers has agreed to acquire ACRE Capital Holdings LLC, the agency lending subsidiary of Ares Commercial Real Estate Corp. (NYSE: ACRE). The $93 million transaction could close as early as the third quarter of this year.
NEW YORK AND LOS ANGELES — NorthStar Asset Management Group Inc. (NYSE: NSAM), Colony Capital Inc. (NYSE: CLNY) and NorthStar Realty Finance Corp. (NYSE: NRF) have entered into a definitive merger agreement under which the companies will combine in an all-stock merger to create a diversified global equity REIT with a total capitalization of $17 billion.