News

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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24

Oct
2013

Summit Healthcare REIT, Inc.

Summit Healthcare REIT, Inc.

Cornerstone Core Properties REIT, Inc. Changes Name to Summit Healthcare REIT, Inc. Irvine, Calif., (October 24, 2013) – Cornerstone Core Properties REIT, Inc. announced today that it has changed its name to Summit Healthcare REIT, Inc. (the “Company” or “SH REIT”). After a strategic repositioning of the Company’s portfolio into senior housing facilities, the new name is intended to better reflect SH REIT’s investment focus…

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8

Oct
2013

North Carolina Portfolio

North Carolina Portfolio

Summit Healthcare REIT, Inc.  Acquires Assisted Living Portfolio.  Irvine, Calif., (October 8, 2013) – Summit Healthcare REIT, Inc. (“Summit”) announced today that it acquired three assisted living facilities in North Carolina for a purchase price of approximately $15.3 million on October 4, 2013. The three facilities acquired include Carteret House in Newport, N.C., a 29,570 square foot facility with 64 beds built in 1994; Hamlet…

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3

Jul
2013

Aledo

Aledo

  Summit Healthcare REIT, Inc.  Acquires Assisted Living Facility  Through Joint Venture Irvine, Calif., (July 3, 2013) – Summit Healthcare REIT, Inc. (“Summit”) announced today that it acquired on July 2, 2013, a 66-unit assisted living facility built in 2006 located in Aledo, Illinois for approximately $8.6 million. The facility has recently enjoyed an occupancy rate at or above 95%. The facility has been triple-net…

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6

Feb
2013

Danby

Danby

  Summit Healthcare REIT, Inc. Acquires Skilled Nursing Facility Through Joint Venture Irvine, Calif., (February 6, 2013) – Summit Healthcare REIT, Inc. (“Summit”) made an investment in a joint venture that acquired a 99-bed assisted living and memory care facility in Winston-Salem, North Carolina in an $9.7 million transaction. The facility has been leased to the current operator pursuant to a ten-year triple net lease. The…

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31

Dec
2012

Pacific

Pacific

  Summit Healthcare REIT, Inc. Acquires Skilled Nursing Facility Through Joint Venture Irvine, Calif., (December 31, 2012) – Summit Healthcare REIT, Inc. (“Summit”)  made an investment in a joint venture that acquired a 78-bed skilled nursing facility in Tigard, Oregon in an $8.2 million transaction.* The facility has been leased to the current operator, Dakavia Management, pursuant to a 15-year triple net lease. Dakavia Management has…

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19

Sep
2012

Farmington & Friendswood

Farmington & Friendswood

  Summit Healthcare REIT, Inc. Acquires Memory Care & Skilled Nursing Facilities Through JV Irvine, Calif., (September 19, 2012) – Summit Healthcare REIT, Inc. (“Summit”) made an investment in a joint venture that acquired a 71-bed memory care facility in Medford, Oregon in an $8.5 million transaction and a 150-bed skilled nursing facility in Galveston County, Texas in a $15.0 million transaction.* Both facilities were acquired…

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27

Aug
2012

Fernhill & Sheridan

Fernhill & Sheridan

Summit Healthcare REIT, Inc. Acquires Portfolio of Skilled Nursing Facilities through Joint Venture Irvine, Calif., (August 27, 2012) – Summit Healthcare REIT, Inc. made an investment in a joint venture that acquired that acquired two skilled nursing facilities on August 3, 2012, collectively known as the “Portland Properties,” located in the greater Portland, Oregon metropolitan area in an $8.6 million transaction.* The Portland Properties have 102 beds in operation…

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