News

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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2

Nov
2015

Summit Healthcare REIT, Inc. announces the election of Suzanne Koenig as the newest member of its Board of Directors

Lake Forest, Calif., (November 2, 2015) – Summit Healthcare REIT, Inc. (“Summit”) announced today that Suzanne Koenig has joined the Summit Board of Directors effective October 28, 2015, pursuant to an election held at the annual meeting of stockholders. Ms. Koenig is president and founder of SAK Management Services LLC, a nationally recognized long-term care management and healthcare consulting services company. With over 20 years…

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24

Jun
2015

Summit Healthcare REIT, Inc. President and COO speaks at IBC’s Healthcare Facilities ASIA in Singapore

Lake Forest, Calif., (June 24, 2015) – Summit Healthcare REIT, Inc. (“Summit” or the “REIT”), announced today that its president, Kent Eikanas, recently spoke at IBC’s Healthcare Facilities ASIA conference which was held June 8-11, 2015 at the Carlton Hotel in Singapore. He was asked to speak on the topic of “Finding the Right Partner for Healthcare Investment.” Industry professionals from around the world, including…

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1

May
2015

Summit Healthcare REIT, Inc. Announces Joint Venture

Lake Forest, Calif., (May 1, 2015) – Summit Healthcare REIT, Inc. (“Summit” or the “REIT”), announced today that its wholly-owned affiliate Summit Healthcare Operating Partnership (“Summit OP”) entered into a joint venture with Best Years, LLC (“Best Years”). The new joint venture entity will own six properties in the REIT’s portfolio, with 10% of the interests owned by Summit OP and 90% of the interests…

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29

Jan
2015

Summit Healthcare REIT, Inc. Expands to Virginia

Lake Forest, Calif., (Jan. 29, 2015) – Summit Healthcare REIT, Inc. (“Summit”) announced today that it acquired an 84-bed assisted living facility in Front Royal, Virginia for a purchase price of $14.3 million on Jan. 23, 2015. The 46,844 square foot facility will be operated by and leased to an affiliate of Meridian Senior Living, LLC (“Meridian”) pursuant to a 15-year triple net lease. Meridian…

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7

Jan
2015

Summit Healthcare REIT, Inc. Acquires Two Senior Living Facilities

Lake Forest, Calif., (Jan. 7, 2015) – Summit Healthcare REIT, Inc. (“Summit”) announced today that it acquired two senior living facilities on December 31, 2014, for a total purchase price of approximately $14.2 million. The two facilities acquired include Gateway Care and Retirement Center, a 38,034 square foot facility located in Portland, Oregon that has 59 beds dedicated to skilled nursing services and 32 independent…

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6

Nov
2014

Summit Healthcare REIT, Inc. Acquires Skilled Nursing Facility

Lake Forest, Calif., (Nov. 6, 2014) – Summit Healthcare REIT, Inc. (“Summit”) announced today that it acquired a 55-bed skilled nursing facility in Myrtle Point, Oregon for a purchase price of approximately $4.2 million on Oct. 31, 2014. The 18,105 square foot facility will be operated by and leased to Dakavia Management Corp. (“Dakavia”) pursuant to a 15-year triple net lease. Dakavia has over twenty years…

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29

Sep
2014

Summit Healthcare REIT, Inc. Expands to Colorado

Lake Forest, Calif., (Sept. 29, 2014) – Summit Healthcare REIT, Inc. (“Summit”) announced today that it acquired two skilled nursing facilities in Colorado for a purchase price of approximately $8 million on Sept. 22, 2014. The two facilities acquired include Juniper Village at Lamar, which is a 22,000 square foot skilled nursing facility located in Lamar, Colorado, and Juniper Village at Monte Vista, which is…

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5

Sep
2014

Summit Healthcare REIT, Inc. Appoints New CFO

Lake Forest, Calif., (September 5, 2014) – Summit Healthcare REIT, Inc. (“Summit”) announced today that Elizabeth A. Pagliarini has been appointed Chief Financial Officer effective September 1, 2014. Ms. Pagliarini joined Summit in June 2014 as its Controller. Ms. Pagliarini is a seasoned executive with over 20 years of experience in financial services and investment banking. Her background includes experience in finance, accounting, operations, compliance,…

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31

Dec
2013

Redding

Redding

Summit Healthcare REIT, Inc. Completes First Acquisition  Irvine, Calif., (December 31, 2013) – Summit Healthcare REIT, Inc. (“SH REIT”) announced today that it has completed its first acquisition since changing its name from Cornerstone Core Properties REIT, Inc. in October 2013. On December 18, 2013 for approximately $3.5 million, SH REIT acquired a 40-unit assisted living facility located in Redding, California that was built in 1992….

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