{"id":1004079719,"date":"2013-07-05T10:16:12","date_gmt":"2013-07-05T18:16:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004079719"},"modified":"2022-12-08T23:22:05","modified_gmt":"2022-12-09T07:22:05","slug":"formation-capital-buys-400m-seniors-housing-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/formation-capital-buys-400m-seniors-housing-portfolio\/","title":{"rendered":"Formation Capital Buys $400M Seniors Housing Portfolio"},"content":{"rendered":"<p><i>By Barbra Murray, Contributing Editor<\/i><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/Formation-Capital.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004079722\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/formation-capital-buys-400m-seniors-housing-portfolio\/formation-capital\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/Formation-Capital.jpg\" data-orig-size=\"246,369\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Formation Capital\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/Formation-Capital.jpg?w=246\" class=\"alignleft size-medium wp-image-1004079722\" alt=\"Formation Capital\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/Formation-Capital.jpg\" width=\"200\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/Formation-Capital.jpg 246w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/Formation-Capital.jpg?resize=200,300 200w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><\/a>Sizeable seniors housing portfolios are not easy to come by, but Formation Capital has gotten its hands on one. In a partnership with global principal investment concern SAFANAD, the private investment management firm snapped up a group of 36 seniors housing communities in a transaction valued at approximately $400 million.<\/p>\n<p>Spanning 13 states and consisting of 2,600 units, the collection of assets is 65 percent assisted living, 18 percent independent living and 16 percent memory care.<\/p>\n<p>&#8220;This transaction demonstrates Formation Capital&#8217;s continued focus on expanding its real estate footprint in private pay seniors housing,&#8221; Brian Beckwith, CEO of Formation Capital, said in a prepared statement.<\/p>\n<p>Senior Lifestyles Corp., Frontier Management, Prestige Senior Living are among the entities that will manage the properties.<\/p>\n<p>The transaction marks the second time in less than a year that Formation Capital and SAFANAD have partnered on a purchase. In September 2012, the team grabbed a 68-property portfolio of skilled nursing facilities on the East Coast for $750 million. The companies made their first buy together in 2011, buying 36 assets in three separate deals.<\/p>\n<p>News of Formation and SAFANAD&#8217;s most recent acquisition comes just days after another major transaction in the seniors housing sector. Just before the Fourth of July holiday, Health Care REIT Inc. announced the closing of the final phase of its $4.3 billion acquisition of the 10,000-unit Sunrise Senior Living Inc. portfolio.<\/p>\n<p>Timing is everything, and it appears that the present is not a bad time at all for seniors housing investment. As noted in a 2013 trends report by PwC and the Urban Land Institute, &#8220;The sheer number of Americans aging into retirement promises steady demand for seniors\u2019 housing over the next decade.&#8221;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sizeable seniors housing portfolios are not easy to come by, but Formation Capital has gotten its hands on one. <\/p>\n","protected":false},"author":952,"featured_media":1004079722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21754,21742],"tags":[],"class_list":["post-1004079719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-medical-office","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Formation Capital Buys $400M Seniors Housing Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/formation-capital-buys-400m-seniors-housing-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Formation Capital Buys $400M Seniors Housing Portfolio\" \/>\n<meta property=\"og:description\" content=\"Sizeable seniors housing portfolios are not easy to come by, but Formation Capital has gotten its hands on one.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/formation-capital-buys-400m-seniors-housing-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-07-05T18:16:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:22:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/Formation-Capital.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"246\" \/>\n\t<meta property=\"og:image:height\" content=\"369\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/formation-capital-buys-400m-seniors-housing-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/formation-capital-buys-400m-seniors-housing-portfolio\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"Formation Capital Buys $400M Seniors Housing Portfolio\",\"datePublished\":\"2013-07-05T18:16:12+00:00\",\"dateModified\":\"2022-12-09T07:22:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/formation-capital-buys-400m-seniors-housing-portfolio\\\/\"},\"wordCount\":284,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/formation-capital-buys-400m-seniors-housing-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/07\\\/Formation-Capital.jpg\",\"articleSection\":[\"Investment\",\"Medical Office\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/formation-capital-buys-400m-seniors-housing-portfolio\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/formation-capital-buys-400m-seniors-housing-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/formation-capital-buys-400m-seniors-housing-portfolio\\\/\",\"name\":\"Formation Capital Buys $400M Seniors Housing Portfolio - 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