A few weeks ago, we posted about Mirabella Seattle opening early and just last week the San Mateo County Times ran a piece about Mirabella San Francisco Bay being delayed due to its inability to find construction financing. The developers are looking to resume construction once financing has been obtained but the letter from the [...]
Ventas, Inc. (NYSE:VTR) (“Ventas” or the “Company”) announced last week that it has closed on the sale of four seniors housing assets to affiliates of Benchmark Assisted Living (collectively, “Benchmark”) for an aggregate sale price of $58.7 million. The assets are located in Massachusetts and contain 403 units. The sale was made pursuant to a [...]
Last week, the Baltimore Sun reported that Erickson Retirement Communities laid off 260 employees and blamed the layoffs on the recession. The company announced that most of the jobs cuts came from positions at its corporate headquarters and included staff in the construction and development areas. This trend seems to follow some of the other [...]
Brookdale Senior Living Inc. announced last week that the Company’s average occupancy for the fourth quarter of 2008 was flat with the third quarter of 2008 and that the Company experienced a growth in revenue per unit. Bill Sheriff, Brookdale’s CEO, said, “During the quarter, in spite of a challenging market environment, we retained the [...]
Last week, National Health Properties, Inc. (NHP) entered into a sales agreement with Cantor Fitzgerald & Co. to sell up to 5,000,000 shares of its common stock through a controlled equity offering with a proposed aggregate value of over $129,000,000 based upon last week’s stock price. The company intends to use the proceeds for general [...]
According to a published report in the Boston Globe, US Representative Barney Frank stated that he wants to propose that the US Treasury buy $5 billion in low-income housing tax credits as a way to help re-start the development of affordable housing across the country and provide additional funding of $5 billion for states. Frank [...]
Amica Mature Lifestyles Inc. (“Amica” or the “Company”), a Canadian developer of luxury housing and services for mature lifestyles, announced it fiscal results for the 2nd quarter last week and showed that the economy affecting its operations. The company’s net income and cash flow were signifcantly lower compared to last year and the lower earnings [...]
Brightview Senior Living, a national retirement housing company with 17 communities in 8 states, has selected Crosby Marketing Communications as its advertising agency. Crosby is developing a new brand image for Brightview based upon the theme of “Live Vibrant”. Brightview Senior Living is the senior-focused part of The Shelter Group, a privately held real estate [...]
AARP CEO Bill Novelli pledged to work with Congress and the Administration to address the nation’s most serious challenges at an event where he outlined the organization’s annual legislative and advocacy priorities. In outlining the AARP agenda for the 111th Congress, Novelli stressed the need to provide economic relief for America, fix our health care [...]
