we should have an upgrade comming very soon.
we will eventually be going private... The question will be how cheap can McKay steal our company for....
I have a fealing there a lot more going on thn a couple of small minior restatements......The stock is trading on some temporary manipulation.....
Senior Housing M&A Activity Surges to All-Time High
The senior housing mergers and acquisitions market continues to bubble with activity across all property types and reach new heights annually and quarterly, according to the latest report from Irving Levin Associates, Inc.
The second quarter of 2014 saw 60 publicly announced senior care M&A transactions, the highest volume ever recorded for the period, up form 56 acquisitions during the second quarter of 2013, according to The SeniorCare Investor, an Irving Levin publication.
Stepping back to take a bigger picture look at the M&A market for the first half of the year, acquisitions were up 53% from the prior year’s period to 123 announced deals during the first two quarters of 2014.
Compared to years past, 2014 has already shaped up to be a record-setting period well before its end.
“This level of activity is unprecedented in the seniors housing and care market,” stated Steve Monroe, editor of The SeniorCare Investor newsletter. “More transactions are getting done in six months than in the entire years of 2008, 2009 and 2010.
The surging deal volume has also led to higher dollar amounts among total transaction values. In the first half of the year, the total value of the transactions reached $10.8 billion, a 137% increase from the first half of 2013. In the second quarter alone, total transaction values were $5.2 billion, 78% greater than the same period a year.
“The capital inflow to the seniors housing and care sector continues to grow as more investors view the market not only as a strong real estate sector with above-average returns, but also one that has proven to be recession resistant,” Monroe stated.
A number of factors continue to contribute to high M&A activity and the growing dollar volume being pumped into the sector, including lower cost of capital, increased interest and willingness from lenders to get involved in the market, as well as a number of new participants in turn spurring greater competition.
“In addition, there has been an increase in new players in the acquisition market, who are able to take advantage of the low cost of capital available,” Monroe stated.
In particular, health care real estate investment trusts (REITs) and smaller, non-traded REITs, have increased their M&A activity by more than 50% in the first half of this year when compared with the first half of last year, according to the data.
“Combined with a rise in private equity groups looking to cash in on the relatively high real estate returns, the total supply of capital for senior care acquisitions has now approached that in the last senior care bull market of 2006 and 2007,” Monroe said.
As long as interest rates remain low, the high levels of acquisition volume will continue, however, risks remain.
“The only dark cloud on the horizon could be the increasing pace of new development if all the assisted living and memory care communities that are being discussed actually get built,” Monroe stated. “That will be when the cracks begin to appear in this bull market.”
the largest shareholder is Mother.SNH at 8%... Thenext biggest is somewhere around 5... Fve is only about 40% institutional the rest retail..which is small on the average...Let's face it ..right now McKay need to show a. Clean set of books...which is causing the stock to lagg...After that...we ll see....Nobody could have figured Zell and Portney would have kissed and done a friendly deal on CWH holdings of SIR.... so that's ..that. SNH right now is the gate keeper for FVE....SNH is open for any type of hostile expressions just like what going on at GTIV.... Which would send FVE through the roof....so yes..FVE languishes for now...while trading at less than 1x book ..where most peers at 2 or 3x... So we wait
stock was trading at $7 three months ago....
We know the assets of FVE are worth between 7 and $9 bucks all by its self...
you don't own FVE for divy income...you own it because eventually someone will force the assets to be privatized and sold....SNH does nt have enough voting power to stop the shareholders at this point.
Is there a 5c ?... Ai though the .5 divy was going the owners of the stock on June 8... The registration date....On the basis that the deal is ratified.?
The proxy vote registration date was june 8....The ones buying now would be expection a higher price..they dont get an actual vote though...It could be petroflow buying all the scraps..it could be lawdale...its could be Monclair,...what we do know...is this deal will be ratified..unless a white knight comes out early next week...with a higher all cash offer.
I will vote to endorse the deal... if monclair can partner a better deal as a L.P and put a $6.00 all cash they better come forth soon.
Stock those pencils fritzeee..your departure days may come sooner than you think ..my regards to adam an barry for me.
Looks like lakewood is going to start this battle.... see NR letter... this is all about the lawers set to oust the board...WOW.. yes the Sharks smell blood..and its all portneys.
Looks like we have alied coalition forming.... read the letter..this reads like a another proxy war forming.
Read NR .... This is great stuff...
Lakewood Capital Issues Letter to Select Income REIT Board of Trustees
RMR now in the line of fire again..see NR
The money is real with Credit Swiss backing petro-flow and klapco... Shareholder will endorse with the extra divy comming their way....Setting up a clasic window for a late white knight ...
O.k Klapco..you did your part.... I'll do my part....Montclair speak now or forever hold your peace... your window is short,
Debt Commitment Letters
On April 30, 2014, Petroflow entered into a first lien debt financing commitment letter with Credit Suisse Securities (USA) LLC and Credit Suisse AG and a second lien debt financing commitment letter with Sankaty Credit Opportunities Fund V-A, L.P., Sankaty Credit Opportunities Fund V-B, L.P., Sankaty Middle Market Opportunities Fund II-F, L.P., Sankaty Middle Market Opportunities Fund II, L.P., and Sankaty Middle Market Opportunities Fund II-A, L.P. Under such commitment letters, the applicable financial institutions party thereto have committed, subject to certain terms and conditions, to provide or syndicate a $235 million first lien term loan (the “First Lien Facility”) and a $100 million second lien term loan (the “Second Lien Facility” and collectively with the First Lien Facility the “Credit Facilities”) for the transactions contemplated by the Arrangement Agreement.
I would say that is a very good question..Its probably going to be 50/50....half by shareholders...the other half by Portney and Mckay.... You can see the results as Private equity turned big profits from sunrise private management..and the privatizartion of ALC assets.