The Not-So-Secret Driver Behind the Health Care Deals

WASHINGTON, DC-Another day, another mammoth-sized health-care portfolio acquisition. This week Griffin-American Healthcare REIT II acquired 13-buildings known as the Pacific Northwest Senior Care Portfolio, plus an additional seven medical office buildings for $103 million. It follows by roughly seven days Health Care REIT’s announcement that it inked a definitive agreement to acquire Sunrise Senior Living for $1.9 billion.

The Sunrise Senior deal was the fourth M&A deal since 2010 involving a publicly traded US health-care REIT, according to SNL Financial analysis. Ventas was a chief player in this respect, acquiring Cogdell Spencer and Nationwide Health Properties in 2012 and 2011, respectively, for a total of more than $8 billion. Prior to those deals, Tiptree Financial Partners acquired Care Investment Trust in the second half of 2010, for $264 million.