NorthStar, Partners Close on Extendicare JV


Network with your peers from across the country at RealShare national conferences. RealShare STUDENT HOUSING in Dallas on September 1-2. RealShare APARTMENTS in Los Angeles on October 21-22 and RealShare HEALTHCARE REAL ESTATE. Make your arrangements today!

Jeanneault’s company, NorthStar Healthcare, owns 36,67% of the JV.

NEW YORK CITY—NorthStar Healthcare Income and its two joint venture partners, Formation Capital LLC and Safanad Management Ltd., has closed on the acquisition of operator Extendicare International. The $1.1-billion deal includes a portfolio of 158 seniors housing and care facilities.

According to an SEC filing, NorthStar Healthcare indirectly owns 36.67% of the JV, FC Domino Acquisition LLC. Affiliates of Dubai-based Safanad own 46.66% and Formation affiliates own the remaining 16.67%. In the works since this past fall, the deal for Extendicare’s 152 skilled nursing facilities and six assisted living facilities includes the assumption of about $682 million in debt…

NorthStar, Partners Close on Extendicare JV

Categories : Uncategorized

Leave a Reply

You must be logged in to post a comment.