News

13

Nov
2017

Summit Healthcare REIT, Inc. acquires an interest in six skilled nursing, assisted living, and independent living facilities in Iowa

Lake Forest, Calif., (November 13, 2017) – Summit Healthcare REIT, Inc. (“Summit”) announced that it has acquired an interest in six skilled nursing/assisted living/independent living facilities throughout Iowa on November 8, 2017. The facilities, acquired for a total purchase price of $29.5 million, consist of a total of 551 licensed beds, and will be leased to a third party operator on a NNN lease. The…

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14

Aug
2017

Summit Healthcare REIT, Inc. acquires an interest in nine skilled nursing facilities in the Northeast

Lake Forest, Calif., (August 14, 2017) – Summit Healthcare REIT, Inc. (“Summit”) announced today that it has acquired an interest in nine skilled nursing facilities located in the Northeast on August 10, 2017. The facilities, acquired for a total purchase price of $60 million, consist of a total of 1,285 licensed beds, and will be leased back to the existing operator. The acquisitions were made…

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18

Jul
2017

Summit Healthcare REIT, Inc. acquires an assisted living/memory care facility in Arizona

Lake Forest, Calif., (July 18, 2017) – Summit Healthcare REIT, Inc. (“Summit” or the “REIT”) announced today that it has acquired an assisted living and memory care facility located in Chandler, Arizona on July 17, 2017. The facility, acquired for a total purchase price of $13.4 million, consists of a total of 90 licensed beds, and will be leased to Compass Senior Living (“Compass”), an…

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7

Mar
2017

Summit Healthcare REIT, Inc. acquires an interest in two skilled nursing facilities in the Northeast

Lake Forest, Calif., (March 7, 2017) – Summit Healthcare REIT, Inc. (“Summit” or the “REIT”) announced today that it has acquired an interest in two skilled nursing facilities located in the Northeast on February 28, 2017. The facilities, acquired for a total purchase price of $27.0 million, consist of a total of 318 licensed beds, and will be operated by and leased to the existing…

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10

Nov
2016

Summit Healthcare REIT, Inc. acquires an interest in two assisted living and memory care facilities in California and Oregon

Lake Forest, Calif., (November 10, 2016) – Summit Healthcare REIT, Inc. (“Summit” or the “REIT”) announced today that it has acquired a twenty percent interest in a 78-bed assisted living and memory care facility located in Citrus Heights, California and a twenty percent interest in a 48-bed memory care facility located in Corvallis, Oregon, on October 31, 2016. The total purchase price for the two…

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6

Sep
2016

Summit Healthcare REIT, Inc. acquires an interest in two skilled nursing facilities in Delaware

Lake Forest, Calif., (September 6, 2016) – Summit Healthcare REIT, Inc. (“Summit” or the “REIT”) announced today that it has acquired an interest in two skilled nursing facilities located in the communities of Millsboro and Smyrna, Delaware, for a total purchase price of $54.1million on September 2, 2016. The facilities consist of a total of 332 licensed beds, and will be operated by and leased…

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19

Jan
2016

Company Profile: Summit’s sharp strategic shift

Company Profile: Summit’s sharp strategic shift

By: Jeff Shaw, Managing Editor SENIORS HOUSING BUSINESS Summit Healthcare REIT purchased Riverglen House of Littleton, an assisted living community in New Hampshire, for $8.5 million in November. The purchase marked the end of a $53.9 million acquisition spree by the company that month. Non-traded REIT sells off industrial assets in order to invest heavily in seniors housing. Summit Healthcare REIT survived the Great Recession,…

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18

Nov
2015

Summit Healthcare REIT, Inc. expands to New Hampshire

Lake Forest, Calif., (November 18, 2015) – Summit Healthcare REIT, Inc. (“Summit”) announced today that it has acquired a 50-unit/59-bed assisted living facility in Littleton, New Hampshire, for a purchase price of $8.5 million in a sale-leaseback transaction on November 17, 2015. Summit has assumed the HUD loan collateralized by the property in the amount of approximately $4.7 million. The 34,684 square foot facility is…

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5

Nov
2015

Summit Healthcare REIT, Inc. acquires four assisted living and memory care facilities in Wisconsin

Lake Forest, Calif., (November 5, 2015) – Summit Healthcare REIT, Inc.. (“Summit” or the “REIT”) announced today that it has acquired four Wisconsin assisted living and memory care facilities. The properties are located in the cities of Green Bay and Appleton, and were purchased for approximately $18.4 million on November 2, 2015. The facilities, which have a total of 125 units, have been triple-net leased…

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4

Nov
2015

Summit Healthcare REIT, Inc. acquires an interest in four skilled nursing facilities in Texas

Lake Forest, Calif., (November 4, 2015) – Summit Healthcare REIT, Inc.. (“Summit” or the “REIT”) announced today that it has acquired a 10% interest in four skilled nursing facilities located in the cities of Granbury, Woodville, Jacksonville, and Longview, Texas, for a purchase price of $27 million in a sale-leaseback transaction on October 30, 2015. The facilities consist of a total of 483 licensed beds,…

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