Aviv REIT had a lot of news last week, announcing its acquisition of two skilled nursing facilities in Dallas, Texas for a combined purchase price of $28.5 million. Hot on the heels of that acquisition, Aviv and Omega Healthcare Investors announced their intent to merge, with Omega acquiring the stock of Aviv in a stock-for-stock merger. Aviv shareholders were probably pretty pleased with the deal, which priced their shares with 16.2% premium. Both Aviv and Omega focus on skilled nursing facilities, and the combined company will have 874 properties across 41 states.
Texas was in demand last week, as Titan SenQuest Senior Living also announced its acquisition of two properties with 116 total units – one located in Decatur, Texas (near Dallas/Fort Worth) and one in Brownwood, Texas.
Closer to home, the non-profit Elderly Housing Developing & Operations Corp., based in Sunrise, Florida, acquired a senior living tower which sits along Biscayne Bay on Brickell Avenue in Miami, Florida for $14 million.
