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SHREVEPORT, LA. — Care Capital Properties Inc. (NYSE: CCP), the skilled nursing REIT that spun off from healthcare giant Ventas in August, has completed its first major transaction. CCP acquired eight skilled nursing facilities and one assisted living facility, all located in Shreveport in northwest Louisiana near the Texas border, for $190 million. The seller was not disclosed. The properties contain a total of 1,174 beds, with an average occupancy rate of approximately 88 percent. The company immediately entered into a long-term, triple-net lease with Texas-based operator Senior Care Centers LLC (SCC) to operate the acquired portfolio. SCC concurrently acquired the portfolio’s operations, which include a rehabilitative therapy company, four hospice agencies and an interest in an affiliated pharmacy provider. In conjunction with the acquisition, CCP made a $20 million five-year, fully amortizing loan to SCC. The initial cash lease yield on the properties is 8.25 percent, and the loan bears interest at a rate of LIBOR plus 5 percent, which escalates 25 basis points annually. As a result of the transaction, SCC is expected to account for approximately 16 percent of CCP’s net operating income on a pro forma basis. On Tuesday, CCP’s stock price closed at $30.87 per …

COLLEGE PARK, MD. — Capital One has served as sole lead arranger, sole bookrunner and administrative agent for an $80 million syndicated loan to finance the construction of a 297-room, four-star hotel located near the entrance to the University of Maryland in College Park. The borrower, Southern Management Corp., is a privately owned residential property management company in the Mid-Atlantic region. The 10-story, 365,681 square-foot hotel, which is scheduled to open in 2017, will include 43,832 square feet of meeting space, an indoor/outdoor pool, a fitness center, concierge service and executive-level amenities. The property will also include a nine-story parking garage above 43,212 square feet of ground-floor retail space, much of it devoted to dining. Additional amenities planned for the hotel include a steak-and-seafood restaurant, two ballrooms with space for up to 1,000 people, a high-end spa and a Bagels ‘n Grinds coffee shop on the first floor. “Capital One’s commitment to learning the details of our business ensured that the transaction met our needs and proceeded smoothly to closing,” says David Hillman, CEO of Vienna, Va.-based Southern Management Corp. Sadhvi Subramanian, senior vice president and market manager, and Brian Gormley, senior vice president, in Capital One Commercial Real Estate’s …

WICHITA, KAN. — U.K.-based private equity real estate firm Henley has teamed up with WaterWalk Hotel Apartments to construct and open five WaterWalk franchises in Florida, North Carolina and New York. As part of the $100 million agreement, Henley has selected individual sites in Albany, Charlotte, Fort Lauderdale, and North Orlando, with construction starts slated for January 2016. WaterWalk’s hybrid model of hotel and apartment combines traditional hotel services into a gated, purpose-built community, and offers amenities such as all-inclusive pricing, full-sized appliances, high-speed Internet, DirecTV, housekeeping, fitness memberships, a community bicycle program, local transportation and free breakfast. Wichita-based WaterWalk Hotel Apartments was started by Jack DeBoer, the founder of Residence Inn, Summerfield Suites, Candlewood Suites and Value Place, and opened its first site in 2014. The deal with Henley marks the first investment in the WaterWalk franchise by a foreign investor. It also represents Henley’s first transatlantic agreement. The firm currently holds around £600 million (U.S. $923 million) in assets under management. “WaterWalk’s versatility as a hybrid property type gives investors and franchisees an unmatched opportunity in the real estate industry by providing the strong revenue potential associated with upscale, extended-stay hotels and the capital structure and valuation of an …

PACIFIC GROVE, CALIF. — Domaine Hospitality Partners LLC has announced plans to build Project Bella, a luxury 160-room, waterfront hotel in Pacific Grove, a town two miles north of Monterey, Calif., along Monterey Bay. The hotel will be located across the street from the Monterey Bay Aquarium and Stanford University’s Hopkins Marine Station. The hotel will be situated within the American Tin Cannery at the end of historic Cannery Row. The town of Pacific Grove is located in the Monterey Peninsula and offers four miles of shoreline along Monterey Bay. “My partners and I have been dreaming about building one of the leading iconic hotels in the U.S. and maybe the world. We believe we will drive significant additional visitors to the Monterey Peninsula, benefitting all businesses,” says Ron Meer, president and CEO of Domaine Hospitality Partners. “Additionally, we look forward to being a meaningful contributor to the marine research community by supporting great efforts underway in the Monterey National Marine Sanctuary and by being strong supporters of ocean sustainability, preservation and protection.” Mark Hornberger of Hornberger + Worstell designed each hotel room to feature views of Monterey Bay. The hotel will include conference and meeting facilities targeted for private …

CHARLOTTE, N.C. — Charlotte-based Belk Inc., the nation’s largest family-owned fashion department store company, has entered into a definitive merger agreement whereby investment funds managed by New York-based private equity firm Sycamore Partners will acquire 100 percent of Belk in a $3 billion transaction. Under the terms of the transaction, Tim Belk will remain CEO of Belk and the company will continue to be headquartered in Charlotte, N.C. The merger, which was unanimously approved by Belk’s board of directors, is expected to be completed by the fourth quarter. No store closings or layoffs are planned as part of the transaction. There are currently 300 Belk stores located in 16 Southern states. Plans call for the company to open additional brick-and-mortar stores as well as expand online offerings, according to the Charlotte Business Journal. Founded in 1888 by William Henry Belk in Monroe, N.C., the company is in the third generation of Belk family leadership. “We are delighted to have found a financial partner that sees what we see in Belk: a 127-year-old brand that remains relevant today with exceptional customer loyalty in small, medium and large cities throughout the South,” says Tim Belk, chairman and CEO of Belk. “We plan …

SANTA FE, N.M. — Gemini Investments (Holdings) Ltd., a Hong Kong company, and Santa Fe-based Rosemont Realty have formed a joint venture, Gemini Rosemont Realty LLC, to acquire and manage Class A commercial office properties in U.S. markets. According to media reports, the Chinese company has acquired 75 percent of Rosemont in a deal valued at more than $100 million. The new company will pursue a three-year acquisition strategy of more than $3 billion. “Gemini Investments’ financial strength coupled with Rosemont’s existing platform, management team and superior track record creates a powerful partnership,” says Michael Mahony, CEO of Gemini Rosemont. “We see great opportunities to continue acquiring high-quality real estate in the U.S. market while also harvesting value for our investors, both existing and new. The possibilities for this venture are tremendous.” According to a news release, Gemini Rosemont will launch a multi-year acquisition program utilizing the joint venture’s access to capital in the United States and throughout the world. The company’s investment strategy will build on Rosemont’s previous targeting of Class A properties in gateway, primary and secondary U.S. markets. In addition, a substantial portion of Rosemont’s existing portfolio, comprised of 135 buildings representing approximately 15.9 million square feet …