As unemployment figures creep towards double digit numbers, seniors who are now finding themselves unemployed or under-employed are adding fuel to the next wave of foreclosures. These seniors facing job cuts or reduced hours are putting a further strain on the already tenuous housing market. While the Obama administration’s efforts to stem the tide of [...]
Skilled Healthcare Group, Inc. (NYSE: SKH) announced the completion of its special investigation relating to the understatements of its accounts receivable reserves in its financial statements for the periods January 1, 2006 through March 31, 2009. Skilled Healthcare has completed the restatement of its consolidated financial statements for the three years ended December 31, 2008 [...]
Cornelia C. Hodgson, the architect leading the senior living studio of design for national architecture firm Dorsky Hodgson Parrish Yue (DHPY), has been appointed to the International Council on Active Aging’s (ICAA) Visioning Board. Hodgson is a committed advocate for the use of innovative design in improving environments for seniors, with particular thought for how [...]
HCP (NYSE:HCP) announced today that it has filed complaints Sunrise Senior Living, Inc. (NYSE:SRZ) and its subsidiaries (“Sunrise”) based on Sunrise’s defaults under management and related agreements covering 64 HCP-owned properties operated by Sunrise. The complaints, filed in the Delaware Chancery Court on June 29, 2009, allege, among other things, that Sunrise systematically breached various [...]
The UCLA Center for Health Policy Research and the Insight Center for Community Economic Development released new data last week that showed that a senior living along in Los Angeles would need twice the media income (based upon $17,029) to survive. In all 58 California counties, long-term health care is far out of reach for [...]
Many seniors are looking for advice on what to do and where to go and are looking for people that they can trust most importantly. In response to this need, Emeritus Senior Living (NYSE: ESC) recently announced a partnership with the Financial Planning Association (FPA®) that will allow its more than 26,500 residents and prospective [...]
The Senior Housing Investment Survey – Spring 2009 Edition, was provided by Senior Living Valuation Services Inc. and confirms trends that our readers are seeing in the marketplace nationwide. The highlights of the Senior Housing Investment Survey include: A material uptrend in overall capitalization rates for all senior housing categories from 2007 to 2009 The [...]
Ashford Landing, a 117-unit mid-rise affordable apartment development for independent seniors, celebrated its grand opening last week in Atlanta, Georgia. The opening represents the second phase of a multi-phase redevelopment of a new mixed-use community, Brookleigh, on the site of the former Johnson Ferry East public housing project in north DeKalb County. When the entire [...]
New Sheriff in town at Brookdale? Not really, the old Sheriff (W.E. Sheriff) had his employment agreement amendend last week as Brookdale Senior Living announced an extension and modification. The agreement calls for Sheriff to serve as Brookdale’s Chief Executive Officer for the next 5 years. Mr. Sheriff will continue to be employed as Chief [...]
