Private Equity Bets On Health Care Real Estate
While private equity investors look for new ways to generate returns on their cash, one sector they appear to be turning their attention to is health care real estate – snapping up everything from medical offices to senior living spaces.
LCS Grows Real Estate Investment Portfolio
LCS<sup>®</sup> announced the company added to its real estate portfolio with the closing of Clarendale<sup>®</sup> at Indian Lake on March 28, 2017. The community will be located in Hendersonville, Tennessee. This is the fourth Clarendale senior living community for LCS and its partners, Ryan Companies and Harrison Street Real Estate Capital. The transaction was facilitated by LCS Real Estate and the community will be managed by Life Care Services, both LCS companies.
GreatCall Acquires VC-Backed Healthsense
<p>GreatCall Inc., the leader in connected health for active aging, has acquired Healthsense, the leading provider of passive remote monitoring services for the senior care continuum. The acquisition greatly expands GreatCall’s portfolio of connected health services for senior living and healthcare.</p>
<p>“As GreatCall continues to expand in these key markets, Healthsense is a natural fit – with our missions of increasing independence, reducing total cost of care and improving the resident, family and caregiver experience,” says David Inns, CEO of GreatCall. “Acquiring Healthsense brings important capabilities in predictive analytics that dovetail with our deep customer knowledge, expands our offering, as well as increases our exposure in senior living and healthcare.”</p>
Green Courte Partners Acquires Detroit Senior Living Communities
Green Courte Partners announced that its fourth investment fund, Green Courte Real Estate Partners IV, LLC and its affiliates, has acquired a portfolio of three independent living facilities located in suburban Detroit, Michigan.
Blackstone To Buy Senior Living Assets For $1.1B
HCP Inc. (NYSE:HCP) has agreed to sell a portfolio of 64 properties totaling 5,967 housing units leased to Brookdale Senior Living Inc. (NYSE: BKD) to affiliates of Blackstone Real Estate Partners VIII L.P. for $1.125 billion, or $189,000 per unit.
K4Connect Pulls In $8M
The round was led by Intel Capital. In addition to Intel Capital, this financing included new strategic investments by RGAx, LLC, a subsidiary of Reinsurance Group of America, Incorporated (NYSE: RGA), a global provider of life and health-related reinsurance with over $10B in revenue, and Traverse Venture Partners, a growth equity platform focused on accelerating the transition to more productive, flexible and valuable real estate, including senior living communities.
K4Connect Secures $8M In Series A Funding Led By Intel Capital
In addition to Intel Capital, this financing included new strategic investments by RGAx, LLC, a subsidiary of Reinsurance Group of America, Incorporated, a global provider of life and health-related reinsurance with over $10B in revenue, and Traverse Venture Partners, a growth equity platform focused on accelerating the transition to more productive, flexible and valuable real estate, including senior living communities.
Hines, Welltower Tap Sunrise Senior Living For NYC Project
Sunrise Senior Living was chosen to operate an upcoming senior living community under development by Welltower and Hines in Midtown Manhattan.
Welltower Acquires Senior Living Portfolio For $1.15B
Specialty real estate investment trust Welltower (NYSE: HCN) has acquired an expansive set of assets. The REIT, which focuses on senior care facilities, announced it has agreed to purchase a portfolio of such properties from peer Vintage Senior Living for $1.15 billion.
Northstar Commercial Partners Enters Senior Care And Medical Facilities Space
Today, Northstar Commercial Partners announced its recent acquisition and groundbreaking of a 1.56-acre vacant parcel of land in Denver's Stapleton neighborhood. Northstar will develop the property located at 2979 Uinta Street into an assisted living <span style="line-height: 20.8px;">and memory care senior living community. </span>