Tommyboy... some point I'll give you for sure... Portney knows the value of Fve assets..as a package would be much higher than 325 million..GPA was esentially a non starter unless they were actively demonstarting financing was in place...I also said if portney wanted to sell these assets on a startegic review we'd be looking at 650 million..these places have the highest rents in the sector at an ave of $4200 a month... the Mariott of seniors homes.. if the GPA can come forward and demonstrate they have a backer.. KKR or some other Private equity firm...would take them along way and the stock with it.
Tommyboy..your sounding alot like jonesy..who we hav'nt seen in a dogs age..bottom line..in todays news Genesis(gen) just sold there home and hospice busness for 10X EBITDA... factor that in to your slide rule for FVE... thats pushes the evelope closer to 500 million for those 31 facilities owned outright by FVE.... back up the truck..because i'm all over a yes vote on taking fve private and putting up to $10 a share in my pocket.
We still flow alot more free cash than CSU.. a reason why GPA wants a shot at FVE.
CSU......Our adjusted EBITDAR was $38.2 million in the fourth quarter of 2015
FVE..... Adjusted EBITDAR, was $59.4 million for the fourth quarter of 2015 compared to $58.8 million for the same period in 2014.
insiders no..SNH does nt have enough to block... Blockrock yes..demensional yes... for $8.25 a share you'd have everything wraped up in about 2 days of trading.
they could eventually take an offer directly to the shareholders for all outstanding shares of FVE..if they have 325 million allready lined up..425 would nt be stretch.. or $8.25 a share.. We hav'nt seen the GPA come out with any real substance yet on whose backing them financially..so its still pie in the sky talk for now... should they disclose the players with the cash ..different story.
sunrise was bought out and the management side spun out afterwards for 170 million in itself...
basicly fve has 450 million in hard assets... 325 bid from GPA in a low ball..they might come up higher on the next attempt.
sandloor... these guys can turn a profit whenever they want.. I like that they took the litigation charge in the 4th quarter... CSU is running the same way... FVE is buying up small aquisitions..spending CF on upgrades and green green grass..eventually the tide will turn and privitization will be in the cards.
(c) Within the last 60 days, a donor advised fund maintained by a community foundation in Tulsa, Oklahoma effected the following transaction in a secondary market in the fund’s trading account based on the advice of Mr. R.D. Thomas and Mr. W. F. Thomas:
Date Purchase/Sale Quantity Cost Cost/Share
02-11-2016 Purchase 10,000 $21,793 $2.18
Within the last 60 days, Gemini Properties effected the following transaction in a secondary market in Gemini Properties’ trading account:
Date Purchase/Sale Quantity Cost Cost/Share
02-12-2016 Purchase 100,000 $220,347 $2.20
(d) Not applicable
its not great... and believe GPA is protecting our investment.. FVE should be privatized..the EQC deal is different..they said value of EQC is 31 ish.. that was at $19..they have about 1.8 billion in cash now..stock is at $24....
Portneys will need to face the music if the GPA moves for proxy battle and puts an offer to the shareholders.
lets not get so excited... BKD brookdale is having the same issues right now..and they are the biggest operator... CSU is fighting off ahedge fund that wants to put in a startegic review.... all in all... were not great..but were no worse than anyone else in a soft market....
9.2 EBITDA......... GPA sending out signals that a proxy battle is setting up next... RMR will privatize fve with an offer of $7 a share before they allow GPA to solidify them on the ropes...lots of positive from here, considering were at the bottom.
i would think so..you went froma 19 million award to three after the insurance...and maybe to nothing if you read the notes at the bottom... that takes away alot of uncertainty going forward... getty up
Item 8.01 Other Events.
On February 23, 2016, the Company settled its previously disclosed litigation with the estate of a former resident of a senior living community operated by the Company. The complaint asserted claims for pain and suffering as a result of improper treatment constituting violations of the Arizona Adult Protective Services Act and wrongful death. In May 2015, a judgment was rendered in the Company’s favor on the wrongful death claim and against the Company on the remaining claims, and damages of approximately $19.2 million were awarded to the plaintiff, consisting of $2.5 million in pain and suffering and the remainder in punitive damages.
Pursuant to the settlement agreement, the Company and the plaintiff have agreed that the plaintiff will be paid approximately $7.3 million in exchange for a customary release. The Company did not admit to, and specifically denied, any and all liability, wrongdoing, responsibility or fault relating to the claims. The parties have agreed to file a joint stipulation with the court to vacate the judgment and dismiss the case with prejudice.
The Company’s liability insurer has agreed to reimburse the Company $3.0 million of the approximately $7.3 million settlement amount. The Company believes its liability insurer may be financially responsible for more than $3.0 million and is seeking additional payments from its liability insurer; however, the Company cannot predict the outcome of any future negotiations or litigation with its liability insurer.