News

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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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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