NREI_SENIORS HOUSING_ Penton Media August 31, 2009 If you want to view this on the web go to: http://enews.penton.com/enews/nrei/v/731 SENIORS NEWS --HCP Acquires $720 Million Stake in Nursing Home Chain By Jane Adler Making a bold statement in a recessionary environment, real estate investment trust HCP has purchased a $720 million stake in the first mortgage of HCR ManorCare, one of the nation's largest nursing home owners and operators. The debt was purchased at a discount of about $590 million, making it one of the biggest seniors housing deals so far this year. The seller of debt, which was not disclosed, financed 72% of the purchase price. HCP contributed $165 million in equity. Stock analysts anticipate HCP's levered rate of return will range from 21% to 27%, depending on when the debt is repaid. To view the full article go to: http://nreionline.com/seniorshousing/hcp_nursing_home_0831/ --Bucking Trend, Community Bank Finances Seniors Housing By Jane Adler Even as most conventional lenders avoid commercial real estate altogether, Sunwest Bank is carving a niche in seniors housing. The Tustin, Calif.-based bank began lending on retirement projects in 2009 after studying the market for several years. "There's a great opportunity now for community banks like Sunwest," says Benjamin Frank, vice president and relationship manager at Sunwest Bank. Community banks are thought to have stronger balance sheets than many large banks and could be a source of capital for seniors housing owners and operators who need to refinance their properties. Large lenders are busy with existing loans, notes Meredith Oppenheim, senior vice president at real estate investment banking firm Savills in New York. "They're working through situations on their books before they lend more money." To view the full article go to: http://nreionline.com/seniorshousing/community_bank_bucks_trends_0831/ ROUNDUP --Fannie Mae Provides $512.9 Million Mortgage to Giant REIT Staff report In one of the largest mortgages secured by seniors housing properties ever provided by Fannie Mae, Seniors Housing Properties Trust (NYSE: SNH) closed on a $512.9 million loan in early August. The 10-year loan originated by Citibank is secured by first liens on 28 senior living properties in 16 states. Based in Newton, Mass., Seniors Housing Properties Trust owns 221 senior living communities totaling 25,840 units. The giant publicly traded REIT also owns two rehabilitation hospitals, 10 wellness centers and 40 medical office buildings. To view the full article go to: http://nreionline.com/seniorshousing/fannie_mae_512_million_0831/ Advertisement ---------------------------------------- http://www.nicmap.org ---------------------------------------- Featured Research ---------------------------------------- *Top 25 Brokerages 2009 (http://nreionline.com/research/nrei-top-25-brokerages-0401/) *Seniors Housing Research (http://nreionline.com/seniorshousing/research-offer/index.html) *Distressed Real Estate (http://nreionline.com/distressedinventory/) *2009 Real Estate Investment Outlook (http://nreionline.com/research/2009_real_estate_investment_outlook/) ---------------------------------------- Advertisement ---------------------------------------- Learn how Freddie Mac is here for the multifamily market. 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Contact us for your seniors housing valuation needs including the new 232 Lean Program. http://www.principlevaluation.com/ ---------------------------------------- ---------------------------------------- For additional information on seniors housing, please visit: http://www.cambridgecap.com/filebin/pdf/CambridgeProvides159MillionFHAInsuredHUD232LoanToRefinanceSkilledNursingHomeinILJuly105.pdf ---------------------------------------- ABOUT THIS NEWSLETTER You are subscribed to this newsletter as #email# To subscribe to this newsletter go to: http://subscribe.nreionline.com/?tc=NLSUB To unsubscribe from this newsletter go to: http://subscribe.nreionline.com/?tc=NLSUB&cid=#message_id#&lid=#list_id#&email=#email# For information on advertising in this newsletter, please contact Marianne Rivera at 312-840-8466 or by email at mailto:marianne.rivera@penton.com. 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