With the passage of Obama’s stimulus package, The Housing and Economic Recovery Act of 2008, and the President signing it into law, we can look at how the package will provide some housing opportunity although not nearly as much as some people would like. Many trade groups are patting themselves on the back and taking [...]
Cornerstone Growth & Income REIT, Inc. recently announced that it finalized the purchase of a 91 unit, assisted living facility near the Highland Park area of northern Dallas, Texas. The property marks the first acquisition in the REIT and spotlights the strategic alliance that was formed between Cornerstone Real Estate Funds and Servant Healthcare investments. [...]
Churches, such as First Lutheran Church in Sandpoint, Idaho, and their senior housing development partner Ecumen, see aging as an opportunity to help people live better and expand ministries. The two recently collaborated on Luther Park at Sandpoint, a new senior housing community that opened in December 2008. Ecumen, affiliated with the Evangelical Lutheran Church [...]
Miller-Valentine Group recently announced the beginning of construction of Lyons Place Elderly Housing, a project with long-time partner, St. Mary Development Corporation (SMDC). Lyons Place will provide 67 affordable units (62,000 square feet) on SMDC’s existing Hoover Place campus at 1300 Genesis Way, Dayton, Ohio. These units are designed specifically for the lifestyle needs of [...]
Ventas, Inc. (NYSE:VTR) (“Ventas” or the “Company”) announced yesterday that normalized Funds From Operations (“FFO”) for the year ended December 31, 2008 rose two percent to $2.74, from $2.69 for the comparable 2007 period. Normalized FFO for the year ended December 31, 2008 increased 16 percent to $383.2 million, from $330.6 million for the comparable [...]
Pilgram Home, a Christian nursing care home in the United Kingdom, faced a funding scare recently over the opinions of it’s residents regarding homosexuality. The local city council originally had revoked its grant to the nursing home because the home hadn’t been acting according to the requirements of the Labour government’s Equality legislation and Sexual [...]
After the release of Medicare’s Five Star Rating System for nursing homes in the United States, many small town newspapers and TV stations are running stories about their local facilities and the ratings that are provided by the system. Some of the coverage provides a balanced view of a nursing home’s rating while others focus [...]
Birchez Associates LLC, announced the start of construction for of The Birches at Chambers, a $15 million, green-friendly 66-unit development for seniors. The new senior housing project will be LEED® certified and comprised 52 one-bedroom and 14 two-bedroom units. Eight of the units will be income directed and the remaining 58 units are set according [...]
For those people who thought sub-prime mortgages and fancy CDO/CMOs were creative accounting, you haven’t seen the latest iteration of creating accounting: increased state taxation in order to receive more funding from Medicaid. Florida Health News’s article, Please Tax Me So I Can Earn More, is a fascinating view into the crazy funding crisis Florida [...]
