TOLEDO, Ohio--(BUSINESS WIRE)--According to the Assisted Living Federation of America (ALFA), “the bar for what constitutes excellence in senior living has just been raised.”
Six senior housing operators in the Health Care REIT, Inc. (NYSE:HCN) portfolio were among the “Best of the Best” as published in the latest issue of Assisted Living Executive Magazine. The fifth annual awards program drew a record 140 submissions, and only 23 received recognition. HCN portfolio partners made up more than 25 percent of that list.
“We are proud of the six Health Care REIT portfolio partners that were recognized in ALFA’s 2011 ‘Best of the Best’ awards,” said Chuck Herman, Executive Vice President and Chief Investment Officer of Health Care REIT and member of the ALFA board of directors. “We believe that Health Care REIT has the highest quality partners in the industry. This level of national recognition by an organization as highly regarded as ALFA strengthens that sentiment.”
The list of award winners includes:
- Resident Health and Wellness: Senior Living Communities
- Sales and Marketing: Emeritus Senior Living
- Human Resources and Staff Development: Brookdale Senior Living
- Programs to Spotlight: Brandywine Senior Living; Senior Living Communities; Silverado Senior Living; Brookdale Senior Living
- Programs to Watch: Sonata Senior Living
According to the article (Assisted Living Executive, March/April 2011), this year’s submissions were reviewed based on five basic criteria:
- The uniqueness of the program, product or service
- Transformation of an ordinary business approach into an extraordinary one
- The difference made for seniors, families, staff, operations, processes, revenue generation, and/or business efficiencies
- The strength of quantitative results and qualitative feedback
- The strategic vision for the program, product or service
Earlier this year, HCN announced gross investments of $3.7 billion year-to-date in 2011, following $3.2 billion of new investments in 2010. The partnerships extend the company’s strategy of capitalizing on favorable fundamentals in the senior housing industry by investing with innovative operators who have a track record of quality care, profitability and growth through off-market transactions. The company anticipates earnings accretion in the short run and enhanced NOI growth potential over the long run.
“Relationships with best-in-class operators differentiate our company,” said Stephanie Anderson, Chief Acquisitions Officer – Senior Housing of Health Care REIT. “Industry knowledge, alignment of interests, trust and shared values make Health Care REIT the partner of choice in senior housing.”
Health Care REIT’s new partnerships reinforce the effectiveness of the company’s relationship investment strategy. Premier senior housing operators develop long-term business partnerships with Health Care REIT because of the company’s reputation as a trusted capital partner with unique and sophisticated structures that meet their capital and operational needs.
Health Care REIT’s relationship investment strategy has resulted in a record $6.9 billion in gross investments in 2010 and 2011 to-date. The company has 63 senior housing and care operator partnerships in its portfolio with embedded future investment opportunities, creating a platform for earnings growth for the next 10-15 years.
To learn more about Health Care REIT’s relationship investment strategy, view video interviews with the CEO’s representing the company’s new partners and read other interactive partnership highlight materials, visit the company’s website at www.hcreit.com/featuredpartners.
About Health Care REIT, Inc.
Health Care REIT, Inc., an S&P 500 company with headquarters in Toledo, Ohio, is a real estate investment trust that invests across the full spectrum of senior housing and health care real estate. The company also provides an extensive array of property management and development services. As of December 31, 2010, the company’s broadly diversified portfolio consisted of 683 properties in 41 states. More information is available on the company’s website at www.hcreit.com.
This document may contain “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. When the company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. The company’s expected results may not be achieved, and actual results may differ materially from expectations. This may be a result of various factors, including, but not limited to, competition within the health care and senior housing industries; the failure to make new investments as and when anticipated; negative developments in the operating results or financial condition of operators, tenants, management companies or partners; the failure of closings to occur as and when anticipated; the cooperation of partners including the ability to reach agreement on major decisions; unanticipated difficulties and/or expenditures relating to future acquisitions and the integration of multi-property acquisitions; the attainment of lender consents and the receipt of applicable healthcare licenses and governmental approvals; compliance with IRS guidance; and changes in rules or practices governing the company’s financial reporting. Additional factors are discussed in the company’s Annual Report on Form 10-K and in its other reports filed from time to time with the Securities and Exchange Commission. The company assumes no obligation to update or revise any forward-looking statements or to update the reasons why actual results could differ from those projected in any forward-looking statements.