On our last several earnings calls, I’ve discussed our pending acquisition activity and I'm happy to report that during the last 60 days most of this backlog has closed. Looking at our acquisition activity since April 1, we have completed $227 million of acquisitions, of which $45 million represents completion of the Bell portfolio we announced last year. The weighted average yield on these $227 million of acquisitions was 8%.We assume $64 million of mortgage debt along with these acquisitions at a weighted average interest rate of 5.6%. In fact, yesterday, we closed on the previously announced acquisition of a sale lease back of four private pay senior living communities with the new third-party private regional operator by the name of Stellar Senior Living for $37 million. The lease was underwritten at 1.2 times rental coverage based on historical results and the initial yield will be 8%.
Senior Housing Properties' CEO Discusses Q2 2012 Results - Earnings Call Transcript
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