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Private Equity Groups Sold Sunrise Stake for $400 Million

The three private equity groups that invested in Sunrise Senior Living’s management business sold their stake for $400 million, according to a letter to investors obtained by Bloomberg News. Kohlberg Kravis Roberts & Co. L.P. (KKR), Beecken Petty O’Keefe & Company, and Coastwood Senior Housing Partners LLC purchased an 80% stake in the business for… Read More »

Sunrise CEO Out After Only 5 Months, Winkle to Take Over

After only five months as chief executive officer of Sunrise Senior Living, Penny McIntyre is being replaced according to a statement from the operator. Announced the same day as the closing of the recapitalization of Sunrise by Revera Inc. and Health Care REIT, the board has chosen Chris Winkle to lead the company as chief executive officer,… Read More »

Doppler Radar Tech Coming to Senior Living

The senior care market is brimming with remote monitoring technologies, with devices tracking the health and well-being of elders via motion sensors, Wi-Fi and now Doppler radar. Like many remote monitoring tech companies dedicated to helping seniors age in place, the Doppler Frequency Signature developed by Villanova University’s College of Engineering wants to revolutionize, as… Read More »

Long-Term Care M&A Logs Red-Hot First Quarter

Transaction activity in the long-term care space continued at a red-hot pace in the first quarter of 2014, up more than 36% from last year, according to an Irving Levin report on M&A in the health care industry.  Deal volume for the nine health care services sectors tracked in The Health Care M&A Report, released in… Read More »

How to Finance Your Non-Profit Senior Housing Acquisition—Sign Up Now

When a for-profit seniors housing owner/operator decides to acquire a nonprofit senior living facility, how does it successfully get from the offer to the closing table? Sign up to learn how. Brought to you by Lancaster Pollard and Senior Housing News, this FREE webinar, How to Successfully Finance the Acquisition of a Nonprofit Community will provide… Read More »

Largest Senior Living Associations Abandon Merger Talk

The senior living industry’s two main trade groups have decided that a proposed merger is “not in the cards” at this time—or maybe ever, according to an email sent by the co-chairs of a unifying initiative. In February, Senior Housing News obtained meeting minutes discussing the possibility of a merger between the Assisted Living Federation of… Read More »

Revera Completes Management Buyout of Sunrise Senior Living

Canadian senior living operator Revera Inc. is now officially the majority owner of Sunrise Senior Living’s (NYSE: SRZ) management company following the completion this week of a previously announced transaction. The completed transaction arrives two months after Health Care REIT (NYSE: HCN), which owned 20% interest in Sunrise’s management company, agreed to recapitalize its ownership… Read More »

Senior Housing Becoming Mainstream Asset Class for Investors

Senior housing is looking like the ‘flavor of the month’ for investment, its appeal increasing thanks to favorable demographic and performance trends that are expected to continue, investors say. Private equity firm Kayne Anderson Real Estate Advisors has invested more than $700 million into senior housing assets in recent months and believes the sector is… Read More »

Green House Model Gains Traction as Providers See Payoff

With increasing regulatory pressures and focus on quality care metrics, more than 100 skilled nursing facilities (SNFs) have turned to a new model of care to help them adapt their operations. Now with several years of history under way, providers are starting to say with confidence that the “Green House” model also nets savings in… Read More »

Senior Living Provider Finds “Dementia Tours” Help Family, Caregivers Relate

Virtual “dementia tours” being offered by senior living provider Senior Star are giving caregivers and family members of those with dementia the opportunity to experience the effects of the struggles that come with dementia.  The new program being offered at Senior Star at Elmore Place in Davenport, Iowa, is working to help people understand what… Read More »

Mainstreet Uses Crowdfunding To Finance New Senior Living Development

Mainstreet is taking a crowdsourcing approach to the financing of senior care development. As a means to finance its ongoing growth efforts, short-term rehabilitation and boutique nursing home developer Mainstreet is rolling out a direct investment initiative that connects crowdfunding with its latest project, a Bloomington, Indiana short-stay transitional care and assisted living facility. By… Read More »