New York state’s Division of Housing and Community Renewal (DHCR) announced the results of a Statewide Affordable Housing Needs Study. The report was the result of an outreach to gather first-hand information from local leaders and housing professionals who best understand the housing and community development needs of their own communities. The study started in [...]
Cambridge Realty Capital Companies announced the closing of $90.6 million of HUD-insured Section 232 loans to refinance a portfolio of 10 Intermediate and Skilled Care nursing facilities. The 10 HUD-insured loans were closed and funded simultaneously to accommodate the payoff of a single credit facility and included loans ranging from $3.1 million to $14.8 million. [...]
Sun Healthcare Group, Inc. (NASDAQ: SUNH) last week announced that its total net revenue for the quarter ended March 31, 2009, was $468.3 million, up 4.0 percent compared to $450.4 million for the comparable period one year ago. Net income for the quarter ended March 31, 2009, was $10.2 million, compared to net income of [...]
As senior housing becomes more global, the largest market for expansion is the Chinese market based upon sheer population size. The Center For Strategic and International Studies released a new report entitled, “China’s Long March To Retirement Reform”. The report warns that the aging of China’s population could usher in a new era of [...]
Trilogy Health Services celebrated last month the ground breaking on the construction of two new health care facilities scheduled to open in Montgomery County in late 2009. The sites are located in Englewood, Ohio and include a health campus offering a full continuum of services and a freestanding memory care facility based upon the company’s [...]
Assisted Living Concepts, Inc. ( ALC ) (NYSE:ALC) last week reported a net loss of $11.8 million in the first quarter of 2009. The company took a massive non-cash, non recurring impairment charge to write-off goodwill of $14.7 million dollars. Without the charge, the company would have reported net income of $2.9 million. The impairment [...]
Genworth Financial released its annual long term care costs survey for 2009 that finds that the costs for nursing home and in-home care as well as assisted living have continued to surge. The study shows that the cost of labor is the driving factor in the increases in the report and that the costs of [...]
KTGY Group, Inc. celebrated being named named “Architect of the Year” by 50+ Builder Magazine and is being recognized for its years of dedication to 50+ communities and the ability of its design and planning experts to meet the needs and wants of the senior housing market. The National Association of Home Builders’ (NAHB) 50+ [...]
Senior Living Investment Brokerage, Inc. announced recently the sale of two Skilled Nursing Facilities with a 90% occupancy rate at the time of sale and were located within 10 miles of each other in northern Florida. Built in 1959 and 1969, with renovations and an addition to one of the buildings in 1999, the facilities [...]
