TOLEDO, OHIO, AND TORONTO — Health Care REIT Inc. (NYSE: HCN) and Revera Inc. (Revera) have entered into a definitive agreement to acquire Regal Lifestyle Communities Inc. (Regal) (TSX: RLC) through an existing 75/25 joint venture for a total value of approximately CA$766 million, or US$623 million.
Company News
CARMEL, Ind. — Skilled nursing facility developer Mainstreet has formed a new broker-dealer named Mainstreet Capital Partners LLC. The company is registered with the Financial Industry Regulatory Authority (FINRA) and was created to institutionalize Mainstreet’s fundraising business.
ORLANDO, Fla.— CNL Healthcare Properties, a real estate investment trust (REIT) focused on seniors housing and healthcare facilities, has named Kevin Maddron chief financial officer, treasurer, and chief operating officer. He will also continue to serve as senior managing director of asset management for CNL Financial Group, overseeing the company’s seniors housing and healthcare real estate portfolio.
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.