APPLETON, Wis. — Atrium Health and Senior Living – Midwest, a seniors housing operator based in Appleton, has renamed the 23 post acute care centers and senior living communities that it operates in Michigan and Wisconsin.
Company News
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).
CHATTANOOGA, Tenn. — Chattanooga-based healthcare finance company Contemporary Healthcare Capital and Atlanta-based lender Community & Southern Bank (CSB) have formed a strategic alliance to offer a wider variety of financing options for construction, acquisition and refinances in the seniors housing industry.
Brookdale Appoints Mark Parrell and Lee Wielansky to Board Of Directors with Sandell Approval
by Jeff Shaw
NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD) has appointed of Mark J. Parrell and Lee S. Wielansky to its board of directors as Class III directors. The two appointees were selected with approval of Sandell Asset Management Corp., a shareholder group within the company that was pushing for changes on the board and for Brookdale to spin off its real estate portfolio into a REIT.
WEST POINT, Pa. — Senior living provider ACTS Retirement-Life Communities has unveiled a multi-year strategic plan to renovate and reposition its portfolio of continuing care retirement communities (CCRCs). The renovations are expected to total approximately $300 million over the next three years.
Ventas to Acquire Ardent Health Services for $1.75B, Spin Off Skilled Nursing Portfolio
by Jeff Shaw
CHICAGO — Ventas Inc. (NYSE: VTR), a seniors housing and healthcare REIT, has signed a definitive agreement to acquire Ardent Medical Services Inc. for $1.75 billion in cash. Ardent Medical, a subsidiary of Nashville-based Ardent Health Services, is one of the 10 largest for-profit hospital firms in the United States. The privately owned Ardent Medical will be entitled to distribute up to $75 million in excess cash to its existing shareholders as part of the transaction.