Commercial & Residential Property Blog

Houston–Deutsche Bank Berkshire Mortgage (DBBM) recently provided Healthcare REIT, Inc., an equity real estate investment trust, an $81.9 million loan for the refinancing of eight skilled nursing facilities in Texas.

Capital Senior Living Corporation, one of the country’s largest operators of senior living communities, announced today that Midwest Portfolio Holdings II, LP, a joint venture in which it holds a 15% partnership interest, has entered into an agreement to sell three senior living communities to Health Care REIT, Inc. Upon closing the transaction, the Company will lease the communities from HCN. The Company currently manages the three communities in the joint venture under long-term management agreements.

Cleveland, Ohio-based Forest City announced late last month that the firm was selling off partnership interests in three of the multifamily developer and owner/operator’s supported-living apartment communities. The sale of the communities—a total of 869 units across properties in Teaneck, N.J.; Chevy Chase, Md.; and Yonkers, N.Y.—is further evidence of Forest City’s departure from the active-adult and seniors multifamily housing, a sector that has seen occupancy and revenue fundamentals hit hard by the economy.Cleveland, Ohio-based Forest City announced late last month that the firm was selling off partnership interests in three of the multifamily developer and owner/operator’s supported-living apartment communities. The sale of the communities—a total of 869 units across properties in Teaneck, N.J.; Chevy Chase, Md.; and Yonkers, N.Y.—is further evidence of Forest City’s departure from the active-adult and seniors multifamily housing, a sector that has seen occupancy and revenue fundamentals hit hard by the economy.

Weak financial results are creating more headaches for Mark Ordan, the former Mills Corp. chief executive who was brought in last year to help turn around Sunrise Senior Living Inc., an operator of senior housing.