David Scharf, the owner of several senior living projects to the south of Nashville, on Thursday submitted an application to build an assisted-living facility on six high-profile acres located at Franklin Road and Wilson Pike Circle in Brentwood. The project is one of several big plans that will soon go before city commissioners; Jonathan Romeo has all the details at Brentwood Homepage.
Analysts at Mizuho Securities have launched coverage of National Health Investors with a 'neutral' rating and a price target of $69, which leaves about 10 percent of upside from where the stock (Ticker: NHI) closed Wednesday. Shares of Murfreesboro-based NHI are up about 12 percent year to date.
Brookdale Senior Living has closed on its $1.2 billion joint venture with Long Island, Calif.-based HCP Inc. to own and operate 14 retirement communities.
Through the deal, the two companies will also amend leases on 202 HCP-owned senior living communities formerly operated by Emeritus Senior Living, which Brookdale acquired earlier this year.
"We are very excited about broadening our relationship with HCP through both the merger with Emeritus and this transaction, which creates attractive opportunities to build shareholder value for Brookdale and HCP," Andy Smith, Brookdale CEO, said in a release.
Shares of Brookdale (Ticker: BKD) were down 1 percent to $34.60 Tuesday afternoon. Year to date, they're up 27 percent.
Southern Care Inc. owner Richard Chavez has submitted plans to Franklin officials to build an assisted-living center behind the Williamson Square shopping center on Highway 96 in Franklin. The complex is planned to comprise 68 rooms as well as a row of townhomes. Michael Ackley has more at Franklin Homepage.
Brookdale Senior Living President and CFO Mark Ohlendorf last week cut his stake in the Brentwood-based senior living facilities company by a third, padding his bank account by $6.8 million. The series of sales came three weeks after Brookdale (Ticker: BKD) completed its acquisition of Emeritus and a week after former Emeritus boss Granger Cobb wrapped up the sale of $17 million worth of stock.
Also selling (again) last week was Director Mark Schulte, who has trimmed his Brookdale holdings by a third in recent weeks. Schulte's latest sales — view the details here and here — netted him about $2.7 million.
Diversicare Healthcare Services last week paid about $5 million to buy back all of its Series C Preferred Stock from Omega Health Investors. The move came after Omega officials called in their option — which had been redeemable since the fall of 2010 — to have Diversicare buy back the shares. Diversicare's common shares (Ticker: DVCR) have nearly doubled this year and opened Thursday trading at $8.81.
The board of National HealthCare Corp. has authorized a new $25 million stock buyback plan that will expire at the end of August of 2015. The plan replaces one of the same size that expired last month. NHC (Ticker: NHC) did not buy back any shares under the old plan.
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