News

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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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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