New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 14, 2014
08:38 EDTHCNHealth Care REIT expands relationship with Sunrise Senior Living
Health Care REIT has completed the acquisition of 11 premium-quality seniors housing communities $257M in cash from Gracewell Healthcare. Sunrise Senior Living, LLC, the management company in which HCN owns a 24% interest, will separately purchase Gracewell’s management company and manage the Portfolio going forward. The Portfolio is concentrated in Southern England and comprised of purpose-built, premium private-pay communities with 767 units. A majority of the Portfolio was built since 2012 and is still in lease up. Upon stabilization of the Portfolio, HCN expects to achieve approximately an 8% NOI yield. HCN owns the Portfolio under the RIDEA structure, allowing the company to capture the Portfolio’s strong NOI growth potential. Additionally, HCN and Sunrise entered into a development agreement with Gracewell’s founders, Tim Street and Daniel Kay, who will continue to be financed by Patron Capital, a pan-European institutional investor focused on property-backed investments. DevCo will own and operate a separate company that will develop premium-quality seniors housing communities, which HCN expects to own upon completion of construction and have managed by Sunrise. The agreement includes the redevelopment of one community in the Portfolio and a near-term development pipeline of 11 additional communities with 812 units located primarily in Greater London and Southern England, markets with tremendous demographics. The near-term pipeline is expected to be developed over the next two years and acquired by HCN upon completion of construction for a fixed price, representing an acquisition pipeline of $269M. Upon stabilization, HCN expects these developments to achieve high-single to low-double-digit NOI yields.
News For HCN From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
May 26, 2015
09:58 EDTHCNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: L Brands (LB) upgraded to Conviction Buy from Buy at Goldman... Dollar General (DG) upgraded to Conviction Buy from Buy at Goldman... Accenture (ACN) upgraded to Outperform from Market Perform at Cowen... Expedia (EXPE) upgraded to Outperform from Market Perform at JMP Securities... The Fresh Market (TFM) upgraded to Neutral from Underperform at Longbow... Marvell (MRVL) upgraded to Overweight from Equal Weight at Morgan Stanley... Health Care REIT (HCN) upgraded to Buy from Neutral at Mizuho... Gold Fields (GFI) upgraded to Buy from Hold at HSBC... eBay (EBAY) upgraded to Buy from Hold at Axiom... CNOOC (CEO) upgraded to Neutral from Underweight at JPMorgan... Quintiles (Q) upgraded to Buy from Neutral at SunTrust... DCT Industrial (DCT) upgraded to Neutral from Underperform at Credit Suisse... Pebblebrook Hotel (PEB) upgraded to Outperform from Neutral at Credit Suisse... Fortinet (FTNT) upgraded to Buy from Hold at Needham... BB&T (BBT) upgraded to Buy from Neutral at Guggenheim... Hercules Technology (HTGC) upgraded to Outperform from Neutral at Macquarie... InterXion (INXN) upgraded to Buy from Hold at Stifel.
08:11 EDTHCNHealth Care REIT, Healthcare Realty Trust upgraded at Mizuho
Subscribe for More Information
06:02 EDTHCNHealth Care REIT upgraded to Buy from Neutral at Mizuho
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use