Health Care Closes Benchmark Deal - Analyst Blog
30 Março 2011 - 6:30AM
Zacks
Health Care REIT Inc. (HCN), a health care real
estate investment trust has recently completed its $890.0 million
partnership deal with Benchmark Senior Living. The deal includes 34
high quality senior housing communities with an $890.0 million
investment balance.
The partnership extends Health Care’s strategy of expanding its
base in the senior housing industry, with best operators having a
track record of profitability growth and good quality care. This
deal has resulted in gross investments of $6.9 billion.
Following this partnership, Heath Care will receive a right to
fund future investments and developments by Benchmark. Health Care
is one of the premium investors, which aims at excellence in the
Senior Living market.
Benchmark is one of New England’s fastest growing companies and
one of the fastest growing assisted living providers in the nation.
Despite a challenging economic environment, Benchmark communities
have outstanding asset quality and have an average age of twelve
years and produce rental rates and occupancy in excess of industry
averages.
The partnership positions Benchmark with a strong capital
partner and offers it the potential for geographic expansion beyond
the New England markets.
Health Care is a real estate investment trust that invests
across the full spectrum of senior housing and health care real
estate. The long-term triple-net leases of the company are a steady
revenue source. Health Care currently retains a Zacks #3 Rank,
which translates into a short-term Hold rating.
We are also maintaining our long-term Neutral recommendation on
the stock. One of its competitors, Nationwide Health
Properties Inc. (NHP), currently retains a Zacks #3 Rank,
which translates into a short-term Hold rating.
HEALTH CR REIT (HCN): Free Stock Analysis Report
NTWDE HEALTH PR (NHP): Free Stock Analysis Report
Zacks Investment Research
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