Property Types Seniors Housing
Grubb & Ellis Healthcare REIT Takes 8 Properties
July 7, 2008
By: Denise L. Meyer, Contributing Correspondent

Grubb & Ellis Healthcare REIT Inc. has acquired eight properties in three separate deals.

First up is the acquisition of Renaissance Medical Centre, a five-story, Class A medical office building located in the Salt Lake City suburb of Bountiful, Utah.

Located at 1551 S. Renaissance Drive, Renaissance Medical Centre consists of approximately 112,000 square feet of gross leaseable area. The property is part of the larger Renaissance Towne Centre mixed-use development and is approximately 88 percent leased. The Renaissance Medical Centre was acquired from an unaffiliated third party represented by Chris Bodnar of CB Richard Ellis-Colorado Private Client Group.

In another transaction, Grubb & Ellis Healthcare completed its acquisition of Senior Care Portfolio 1 with the addition of two skilled nursing facilities in California. The portfolio is comprised of an aggregate of six properties, including four in Texas, which were acquired in March 2008. The two California properties of Senior Care Portfolio 1 were acquired from HCP Inc.

Located at 11900 Ramona Blvd. in El Monte and 1955 Lomita Blvd., in Lomita, each of the California properties comprises one single-story skilled nursing facility. The two properties total approximately 71,000 square feet of gross leasable area and are 100 percent leased to North American Healthcare which operates 219 patient beds.

And lastly, the firm announced the acquisition of Medical Portfolio 2. The portfolio consists of three medical buildings in Missouri: 5551 Winghaven, in O’Fallon, 969 North Mason St. and 909 North 14th St. both in St. Louis, as well as two in Texas: 180 Bear Creek Parkway in Keller and 1722 9th Street in Wichita Falls. Medical Portfolio 2 was acquired from affiliated entities of The Cirrus Group.

Last week amongst news of several transactions, CPN reported that after a series of high level personnel shufflings, former Grubb & Ellis Co. board chairman Anthony Thompson, who helped engineer a blockbuster merger with NNN Realty Advisors and is still the company's second-largest stockholder, is maneuvering to rejoin the firm’s board of directors.

 
Recent Seniors Housing Headlines
domaine Chartwell to Buy Out Seniors Housing JV
Sept. 05, 2008
Residences Melior, an affiliate of Groupe Melior, of Montreal, has exercised its right under a joint venture agreement with Chartwell Seniors Housing REIT to sell to Chartwell the remaining 50 percent interest owned by Melior in seven assisted-living properties in the Province of Quebec.
naperville north Health Care REIT Makes $643M Seniors Buy
Sept. 03, 2008
Health Care REIT Inc. has agreed to acquire a 90 percent interest in a portfolio of 29 seniors housing properties from an affiliate of Arcapita Inc., an investment bank based in Atlanta, for $643.5 million.
crossman Survey of Seniors Shows Demand on Rise for Fitness Facilities
Sept. 02, 2008
The days of relying solely on the golf course for exercise in post-retirement years are quickly disappearing, according to a survey conducted by Orlando-based Crossman & Co., Central Florida's largest third-party leasing and management company.
Healthcare REIT Snaps Up Wellness Centers in $100M Sale-Leaseback Deal
Aug. 28, 2008
Four wellness centers operated by Life Time Fitness Inc. have come under the ownership of Senior Housing Properties Trust, courtesy of a $100 million deal. Life Time Fitness will continue to occupy the properties under a triple-net lease agreement through its subsidiary, LTF Real Estate Co.
Emeritus to Lease 11 Seniors Housing Properties from HCP
Aug. 26, 2008
Assisted living services provider Emeritus Corp. will soon bring a new group of seniors housing properties under its umbrella now that it has signed an agreement with affiliates of HCP Inc. to lease 11 communities accounting for an aggregate 1,462 units in six states from California to Massachusetts. The lease carries a 10-year term and allows Emeritus the option to acquire the assets during the period commencing with the close of the fifth year of the lease until its expiration. If the company decides to acquire the portfolio, the price tag will be a minimum $300 million.
 

 

Fults to Start New Firm in Dallas
September 05, 2008
By: Tonie Auer, Southwest Correspondent --Despite a flat Dallas real estate market, Tracy Fults took a leap of faith in the creation of his new real estate firm of Fults Commercial, following in the footsteps of his late father and...

184-Acre Bioscience Park Breaks Ground on Former Army Site
September 05, 2008
By: Tonie Auer, Southwest Correspondent --Construction began Wednesday as part of the transformation of the former Fitzsimons Army Medical Center in Aurora, Colo., for the 184-acre business park called Colorado Science + Technology Park at Fitzsimons. The project is being...

Chartwell to Buy Out Seniors Housing JV
September 05, 2008
By: Scott Baltic, Contributing Editor --Residences Melior, an affiliate of Groupe Melior, of Montreal, has exercised its right under a joint venture agreement with Chartwell Seniors Housing REIT to sell to Chartwell the remaining 50 percent interest owned by Melior...

Gaylord to Develop Convention/Resort Facility in Mesa
September 05, 2008
By: Dees Stribling, Contributing Editor --Gaylord Entertainment has inked a deal to buy a parcel of land at the Mesa Proving Grounds in Mesa, Ariz., for the development of a resort and convention center. The development will occupy about 100...

REal Talk with Adam Perrotta-Wednesday
September 03, 2008
By Adam Perrotta, News Writer --While Manhattan's Downtown and Midtown South office submarkets have recently been billed as havens for smaller tenants looking to avoid the sky high rents of Class A Midtown space, such firms may still be able...

Expectation Alignment Key to 'Promise Management'
September 05, 2008
by Mike Myatt, Chief Strategy Officer, N2growth --The art and science behind making commitments and managing expectations has always been a critical skill set for senior executives and entrepreneurs to master. In fact, understanding how to come out on the...

It's All In The Message
August 29, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Top CEOs understand the power, influence, and leverage created by great messaging. Do you ever find yourself sitting back and marveling at those chief executives who always seem to have the right thing...

Do You Have A Bad Attitude?
August 22, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Show me a CEO with a bad attitude and I'll show you a poor leader. While this sounds simple enough at face value, I have consistently found that one of the most often...

Is Family Business a Good Idea?
August 15, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Oh what a conundrum! Family business: Should I, or shouldn't I? In my opinion there really isn't a right or wrong answer to this question. It is simply a matter of personal preference....

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...