SHAWNEE, Kansas — Granite Investment Group has acquired a 48-unit assisted living facility in the Kansas City suburb of Shawnee for $7.2 million. The transaction was completed at an all-in cap rate of approximately 8.4 percent and features a long-term bond net lease that expires in 2030.
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KEARNS, Utah — RED Capital Partners LLC, the proprietary debt and equity banking arm of comprehensive capital provider RED Capital Group LLC, has completed a $13.86 million balance sheet loan to Link Development LLC for the construction of Summit Senior Living, located just outside Salt Lake City.
NEW YORK — American Realty Capital Healthcare Trust II Inc., currently a non-traded real estate investment trust (REIT), plans to file an application to list its common stock on a national stock exchange. Subject to approval, the company expects its common stock to begin trading during the third quarter of 2015. Concurrent with the listing, the company intends to change its name to Healthcare Trust Inc. and list on the market as “HTI.”
VINCENNES, IND. — Flaherty & Collins Properties and Myszak + Palmer will host a grand opening ceremony for Clark’s Crossing, a senior living center in Vincennes, on March 18. The property is located at 300 N. 6th St. Clark’s Crossing features 47 one- and two-bedroom apartment homes, which include fully equipped kitchens with energy efficient appliances, hardwood flooring, oversized closets, and washers and dryers.
BRENTWOOD, TENN. AND IRVINE, CALIF. — Brookdale Senior Living Inc. (NYSE: BKD) and HCP Inc. (NYSE: HCP) have entered into a definitive agreement to purchase a portfolio of 35 private-pay seniors housing communities from Canadian real estate investment trust Chartwell Retirement Residences for $849 million.
SEBASTIAN, Fla. — Watercrest Senior Living Group, Walker & Company construction, MBV Engineering and Sebastian city officials have broken ground for Pelican Landing Assisted Living and Memory Care in Sebastian. Watercrest — the developer, owner and operator of the 65,000-square-foot, 89-unit senior living community — plans to open the building to residents in the spring of 2016.
TOLEDO, Ohio — Health Care REIT Inc. (NYSE:HCN) has added Colin Catherwood as vice president – investments, Canada. Catherwood will lead HCN’s new office in Toronto, Ontario. He is responsible for managing the company’s Canadian portfolio and identifying and managing growth opportunities in Canada.