July 1, 2006

Formation Capital Deals, Largest Private Sale of SNFs Goes to GE
The Senior Care Investor

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.
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