NEW YORK CITY — Bridge Investment Group Partners and its subsidiary ROC Seniors Housing Fund Manager have announced a new initiative to invest more than $2 billion in independent living, assisted living and memory care assets in the United States.
Company News
MURFREESBORO, Tenn., and OLATHE, Kan. — National Health Investors Inc. (NYSE: NHI) has signed an agreement with its joint venture partner Bickford Senior Living to convert all of the partnership’s 32 seniors housing leases from a RIDEA structure to triple net.
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.