REIT

CareTrust REIT Acquires Two Illinois Memory Care Facilities with New Operator Relationship

Retrieved on: 
Tuesday, May 2, 2023
Nursing, Commercial Building & Real Estate, Construction & Property, REIT, Professional Services, Managed Care, Health, Seniors, Hospitals, Consumer, Finance, Housing, NNN, Investment, The Chapters Live, Chapter, Acquisition, Growth, NYSE, Real estate, Property management

CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has acquired a 136-unit, two-facility memory care portfolio located in the greater Chicago metropolitan area.

Key Points: 
  • CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has acquired a 136-unit, two-facility memory care portfolio located in the greater Chicago metropolitan area.
  • The facilities will be operated by affiliates of Chapters Living, LLC, a new operator relationship for CareTrust.
  • Chapters Living is a seniors housing and memory care operator based in the Midwest led by industry veteran Danny Stricker.
  • Chapters took over operations at the facilities from the outgoing operator on May 1, 2023 pursuant to a 15-year NNN master lease agreement.

CareTrust REIT Grows in Georgia with New Operator Relationship

Retrieved on: 
Monday, May 1, 2023
Nursing, Health, Hospitals, Commercial Building & Real Estate, Managed Care, Construction & Property, REIT, NNN, Culture, Elevation, Tenant, Acquisition, The Elevation Group, Growth, NYSE, Investment

CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has acquired a 148-bed skilled nursing facility located in the greater Atlanta metropolitan area.

Key Points: 
  • CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has acquired a 148-bed skilled nursing facility located in the greater Atlanta metropolitan area.
  • The acquisition represents CareTrust’s second skilled nursing facility in the State of Georgia.
  • Concurrently with the acquisition, CareTrust has entered into a new tenant relationship with Elevation Group, LLC, a Florida-based skilled nursing operator led by two industry veterans and brothers Ken and Dan Funk.
  • James Callister, CareTrust’s Chief Investment Officer commented that, “We are tremendously excited that this acquisition begins CareTrust’s relationship with Elevation Group.

Boston Omaha Asset Management, LLC, a Wholly Owned Subsidiary of Boston Omaha Corporation, Acquires 100% Ownership Interest in 24th Street Asset Management, LLC

Retrieved on: 
Monday, May 1, 2023
Professional Services, Commercial Building & Real Estate, Finance, Construction & Property, Asset Management, REIT, 24th Street, MIPA, Statutory holdback, Sellers, Commercial property, Sale, Philosophy, Acquisition, Vulnerability and Risk Committee, BOC, BFR, NYSE, Bank

Boston Omaha Asset Management, LLC (“BOAM”), a wholly-owned subsidiary of Boston Omaha Corporation (NYSE:BOC) (“BOC” or the “Company”) has acquired the remaining ownership interest in 24th Street Asset Management, LLC (“24th Street”).

Key Points: 
  • Boston Omaha Asset Management, LLC (“BOAM”), a wholly-owned subsidiary of Boston Omaha Corporation (NYSE:BOC) (“BOC” or the “Company”) has acquired the remaining ownership interest in 24th Street Asset Management, LLC (“24th Street”).
  • Prior to the acquisition, BOAM owned a 48% beneficial interest in 24th Street.
  • 24th Street serves as the general partner of two funds and several joint ventures, which invest via equity and debt in commercial real estate assets.
  • As of December 31, 2022, 24th Street has approximately $123 million of assets under management, inclusive of two closed-end funds and multiple joint ventures.

CommonSpirit Completes Purchase of Steward’s Utah Operations

Retrieved on: 
Monday, May 1, 2023
REIT, General Health, Hospitals, Health, Construction & Property, CommonSpirit Health, MPT, Medical Properties Trust, NYSE, MPW, Geography, Nursing, Fine chemical, Hospital

Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today announced the commencement of its master lease with CommonSpirit Health (“CommonSpirit”) through CommonSpirit's wholly owned subsidiary of Catholic Health Initiatives Colorado (“CHIC”), to operate five general acute care hospitals in Utah.

Key Points: 
  • Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today announced the commencement of its master lease with CommonSpirit Health (“CommonSpirit”) through CommonSpirit's wholly owned subsidiary of Catholic Health Initiatives Colorado (“CHIC”), to operate five general acute care hospitals in Utah.
  • CommonSpirit, recognized as one of the country’s largest and most respected not-for-profit healthcare providers, becomes a top operator for MPT and furthers the Company’s long-term strategy to diversify by asset type, operator and geography.

Ellington Residential Mortgage REIT Announces Release Date of First Quarter 2023 Earnings, Conference Call, and Investor Presentation

Retrieved on: 
Monday, May 1, 2023
Commercial Building & Real Estate, Construction & Property, REIT, Telephone, NYSE

Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today announced that it will release financial results for the quarter ended March 31, 2023 after market close on Thursday, May 11, 2023.

Key Points: 
  • Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today announced that it will release financial results for the quarter ended March 31, 2023 after market close on Thursday, May 11, 2023.
  • The Company will host a conference call to discuss its financial results at 11:00 a.m. Eastern Time on Friday, May 12, 2023.
  • To participate in the event by telephone, please dial (800) 267-6316 at least 10 minutes prior to the start time and reference the conference code EARNQ123.
  • In connection with the release of financial results, the Company will post an investor presentation to accompany the conference call on its website at www.earnreit.com under "For Our Shareholders—Presentations" after market close on Thursday, May 11, 2023.

FCPT Announces First Quarter 2023 Financial and Operating Results

Retrieved on: 
Monday, May 1, 2023
REIT, Restaurant, Bar, Retail, Commercial Building & Real Estate, Construction & Property, Common stock, G&A, Sale, Interest, Treasury, FFO, ATM, Acquisition, Collection, NYSE, Commercial property, Security (finance), Video game

Four Corners Property Trust, Inc. (“FCPT” or the “Company”, NYSE: FCPT) today announced financial results for the three months ended March 31, 2023.

Key Points: 
  • Four Corners Property Trust, Inc. (“FCPT” or the “Company”, NYSE: FCPT) today announced financial results for the three months ended March 31, 2023.
  • “FCPT had a solid start to 2023, with continued high rent collection levels and opportunistic capital raising to further strengthen our financial position,” said CEO Bill Lenehan.
  • AFFO per diluted share for the first quarter was $0.41, representing flat results compared to the same quarter in 2022.
  • FCPT declared a dividend of $0.34 per common share for the first quarter of 2023.

National Storage Affiliates Trust Reports First Quarter 2023 Results

Retrieved on: 
Monday, May 1, 2023
Commercial Building & Real Estate, Construction & Property, REIT, Pressure, Intellectual property, Pros, Partnership, Housing, Share repurchase, Move It, OP, Jules Kroll, Retirement, NSA, NOI, NYSE, Video game, Security (finance)

National Storage Affiliates Trust ("NSA" or the "Company") (NYSE: NSA) today reported the Company’s first quarter 2023 results.

Key Points: 
  • National Storage Affiliates Trust ("NSA" or the "Company") (NYSE: NSA) today reported the Company’s first quarter 2023 results.
  • Reported net income of $40.4 million for the first quarter of 2023, a decrease of 9.8% compared to the first quarter of 2022.
  • Reported diluted earnings per share of $0.24 for the first quarter of 2023 compared to $0.24 for the first quarter of 2022.
  • Acquired 16 wholly-owned self storage properties for approximately $160.5 million during the first quarter of 2023.

VICI Properties Inc. Announces First Quarter 2023 Results

Retrieved on: 
Monday, May 1, 2023
Entertainment, Commercial Building & Real Estate, Lodging, Construction & Property, Travel, REIT, Casino, Gaming, Exercise, Gold Strike Tunica, Foxwoods Resort Casino, MGM Grand Las Vegas, MGM, Total, Partnership, MGM Resorts International, Las Vegas Strip, Mashantucket Pequot Tribe, Line of credit, Cherokee Nation, Cherokee Nation Businesses, Tenant, Gold Strike, Sale, FFO, ATM, Credit Accumulation and Transfer Scheme, Acquisition, Gold, VICI, Growth, Cherokee, Credit, Hand, NYSE, MGM Growth Properties, Vici Properties, PURE, Pure (Canadian band), Real estate, Holding company, Video game, Security (finance), Hard rock

VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended March 31, 2023.

Key Points: 
  • VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended March 31, 2023.
  • VICI’s international expansion opens up a new frontier of investment opportunities as VICI aims to be an owner of premier global experiential real estate.
  • AFFO per share was $0.53 for the quarter, an increase of 18.6% compared to $0.44 for the quarter ended March 31, 2022.
  • In March 2023, the Company entered into two forward-starting interest rate swap agreements with an aggregate notional amount of $250.0 million.