Press Releases
April 5, 2011Formation Capital Concludes Sale of Genesis HealthCare Corporation Real Estate to Health Care REITAlpharetta, GA, April 5, 2011 -- Formation Capital (Formation), a leading investor in the seniors housing and health care industry, announced the completion of the $2.4 billion disposition of Genesis HealthCare Corporation’s (Genesis) real estate assets to Health Care REIT on April 1, 2011. Health Care REIT acquired 147 post-acute, skilled nursing and assisted living facilities located in 11 states in the Northeast and Mid-Atlantic and will lease the operation and management of the facilities back to Genesis through a long-term, triple-net lease. |
April 1, 2011Formation Capital Announces New CEOFormation Capital (Formation), a leading investor in the seniors housing and health care industry today announced the hiring of Brian Beckwith as Chief Executive Officer, effective April 18, 2011. |
February 28, 2011Genesis HealthCare Announces Acquisition of its Real Estate Assets by Health Care REIT, Inc.Kennett Square, PA, February 28, 2011….Genesis HealthCare (Genesis), a leading provider of short-term post-acute, rehabilitation, assisted living and long-term care services, along with its owners Formation Capital and JER Partners, today announced that Health Care REIT, Inc. (HCN), a health care real estate investment trust has signed a definitive agreement to acquire substantially all of Genesis’ real estate assets for a purchase price of $2.4 billion. |
December 2, 2010JER Partners and Formation Capital Purchase Skilled Nursing Facilities Owned by Adventist HealthcareTOWSON, Md., Dec. 2, 2010 /PRNewswire/ -- Genesis HealthCare, a leading provider of skilled nursing facilities in Maryland, has added a group of nursing homes previously owned by Adventist HealthCare to its network in order to expand quality care to a growing senior population. |
July 20, 2009Formation Capital and Shelbourne Capital form Formation Shelbourne PartnersFormation Capital of Alpharetta, Georgia and Shelbourne Capital of Radnor, Pennsylvania have formed a new venture to develop and own senior living communities.The venture, Formation Shelbourne Partners, combines the investment capital of its founders and takes advantage of the development capabilities of their respective subsidiaries, Formation Development Group, LLC and Shelbourne Healthcare Development Group LLC. |
July 13, 2007Formation Capital and JER Partners Acquire Genesis HealthCareDownload Press Release [PDF] Formation Capital and JER Partners announced today they have completed the acquisition of Genesis HealthCare Corporation. The total enterprise value of the transaction was approximately $2.0 billion. Pursuant to the terms of amended merger agreement entered into on May 19, 2007, Genesis' shareholders received $69.35 in cash for each share of Genesis' common stock that they held. |
May 30, 2007Genesis HealthCare Shareholders Approve Merger Agreement with Formation Capital and JER PartnersDownload Press Release [PDF] KENNETT SQUARE, Pa.-- May 30, 2007-- Genesis HealthCare Corporation ("GHC" or "Genesis") (NASDAQ: GHCI) today announced that, at the Company's reconvened annual meeting, Genesis shareholders approved the amended merger agreement between Genesis and a venture between affiliates of Formation Capital, LLC ("Formation") and JER Partners ("JER"). |
January 16, 2007Genesis Healthcare to be Acquired by Formation Capital and JER Partners for $63 per Share in CashDownload Article [PDF] Genesis HealthCare Corporation (“GHC”) (NASDAQ:GHCI) today announced that it has entered into a definitive agreement to be acquired, in an all-cash transaction for $63.00 per share, by a joint venture between affiliates of Formation Capital, LLC and JER Partners. |
September 1, 2006A Much Rejuvenated Nursing Home SectorNational Real Estate Investor Magazine Link to original article Now, Formation Capital is cashing in on its investments. In June, Chicago-based GE Healthcare Financial Services agreed to buy Formation Capital's six portfolios for $1.4 billion. The deal, which includes 186 skilled nursing facilities, is scheduled to close sometime in the third quarter. |
July 12, 2006Tandem Healthcare Sells for $620MCommercial Property News View original article Behrman Capital has sold portfolio company Tandem Health Care Inc. to a consortium of JER Partners and Formation Capital L.L.C. in a transaction valued at $620 million, the company said today. |
July 1, 2006Formation Capital Deals, Largest Private Sale of SNFs Goes to GEThe Senior Care Investor Download Article [PDF] For more than a year, the market knew that privately held Formation Capital was looking to recapitalize the vast majority of its skilled nursing holdings. The most talked about option was to transfer these assets into a newly formed Canadian REIT and to then take it public. There are some obvious downsides to being a public company, but the Canadian REIT alternative provided management with some flexibility that a U.S. REIT structure couldn’t, especially with regard to acquisitions and some of the ancillary service businesses that come with them. |
June 26, 2006GE Healthcare Financial Services to Expand Real Estate Equity Presence Through $1.4 Billion Transaction With Formation CapitalLink to press release at Forbes.com GE Healthcare Financial Services has signed a definitive agreement to acquire six senior housing portfolios valued at $1.4 billion from Alpharetta, Ga.-based Formation Capital LLC, which invests in and provides services to the senior housing and care industry. The transaction - expected to close in the third quarter of 2006 - will bring GE Healthcare Financial Services' real estate investments to over $4 billion. |
