Aviv REIT Announces $29 Million Acquisition

CHICAGO, Oct. 23, 2014 /PRNewswire/ -- Aviv REIT, Inc. ("Aviv" or the "Company") (NYSE: AVIV) announced today it acquired two skilled nursing facilities ("SNF") in Dallas, Texas, for $28.5 million.  The properties are triple-net leased to existing Aviv operator Fundamental at an initial cash yield of 9.0%, for a term of 10 years.  Fundamental operates 77 facilities in eight states, 19 of which they lease from Aviv.

"We have already closed over $400 million of acquisitions this year and our deal flow is as strong as ever, with attractive opportunities we are actively sourcing through our extensive network of industry contacts, including our operator relationships," said Craig M. Bernfield, Chairman and Chief Executive Officer of Aviv.  Mr. Bernfield continued, "This off-market acquisition was sourced by Fundamental and brought exclusively to us because of our relationship.  Fundamental has become our fourth largest operator in less than two years and we intend to continue to grow our relationship with them."

About Aviv
Aviv REIT, Inc., based in Chicago, is a real estate investment trust that specializes in owning post-acute and long-term care SNFs and other healthcare properties. Aviv is one of the largest owners of SNFs in the United States and has been in the business for over 30 years. The Company currently owns 316 properties that are triple-net leased to 38 operators in 29 states.

For more information about the Company, please visit our website at www.avivreit.com.

Forward-Looking Statements
The information presented herein includes forward-looking statements. Examples of forward-looking statements include all statements regarding our future operator relationships, business strategy, projected growth opportunities and potential acquisitions. These forward-looking statements are made based on our current expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control, that could cause our actual results to differ materially from those matters expressed in or implied by these statements. These factors include, among others:  uncertainties relating to the operations of our operators; our ability to successfully engage in strategic acquisitions and investments; competition in the acquisition and ownership of healthcare properties; the availability and cost of capital; the amount and yield of any additional investments; and other factors disclosed under "Risk Factors" and elsewhere in filings made by us with the Securities and Exchange Commission. Except as required by law, we do not undertake any responsibility to release publicly any revisions to these forward-looking statements to take into account events or circumstances that occur after the date as of which such statements are made or to update you on the occurrence of any unanticipated events which may cause actual results to differ from those expressed or implied by the forward-looking statements contained herein.

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SOURCE Aviv REIT, Inc.

Related Links

http://www.avivreit.com