Here’s an April Fools Day joke…Sunrise Senior Living (NYSE:SRZ) is doing just fine. With the amount of inquiries and traffic to Senior Housing News in the last 48 hours regarding Sunrise and the search term “sunrise senior living bankruptcy”, the internet rumor mills might be stirring up speculation of a pending bankruptcy filing but certainly [...]
Senior Living Investment Brokerage, Inc. (SLIB) recently announced the sale of a Midwest senior housing portfolio sale of five facilities in Illinois, Kentucky and Indiana. The facilities were sold by the Franciscan Sisters of Chicago Service Corporation, to Trilogy Health Services. The properties included 513 Skilled Nursing Beds and 238 Assisted Living Beds/Units for a [...]
Will the Clare stand up to the rich, Chicago Architectural past of Frank Lloyd Wright, Daniel Burnham and the others that set the standard for the city’s architectural heritage? An article in this weekend’s Chicago Tribune takes a close look at the architecture surrounding the construction of the Clare, a 54 story high rise that [...]
AF Evans Co., Inc. announced earlier this month that it has filed voluntary Petition for Relief under Chapter 11 of the United States Bankruptcy Code. The goal of the filing is to implement a reorganization of finances to enable the company to return to profitability. According to the company’s statement, AF Evans Co.(AFECo) is filing [...]
Marquette General Health System has completed the sale of Brookridge Heights Assisted Living to Brookridge Marquette Real Estate, LLC. The owners of Brookridge Marquette Real Estate, LLC, include Capital Health Group, LLC, and SeniorCare Communities, Inc. Together they own and/or manage 30 assisted living facilities throughout the country, including one in Cadillac, Mich. Under the [...]
Last Month, Irving Levin Associates, a research and publishing firm that tracks mergers and acquisitions in the seniors housing and health care markets, released the fourteenth edition of the The Senior Care Acquisition Report that showed the average price paid per bed for skilled nursing facilities dropped significantly in 2008 from 2007. The average sales [...]
Last month, the Federal Home Loan Bank of San Francisco announced the second portion of its 2008 affordable housing grants that will provide housing units in Arizona, California and Nevada. Grants from the FHLBank San Francisco’s AHP include $2.89 million for projects in the Oakland area congressional district of Rep. Barbara Lee (CA-9th), who was [...]
CARF-CCAC, the national non-profit accrediting body for continuing care retirement communities, announced that the accreditation for Shell Point Retirement Community has been renewed for another five year term, and that Shell Point has been certified as a Person-Centered Care Community with additional designations. These specialty designations are Person-Centered Long-Term Care Community: Dementia Care Specialty Program [...]
As a follow up to the article on Christian Living Communities, Ziegler Capital Markets with co-manager Stifel Nicolaus & Company, Incorporated more details on the completion of the first non-rated fixed-rate continuing care retirement community (CCRC) financing since September 2008 for Christian Living Communities. The strong demand from retail investors as well as solid institutional [...]
