Canada Mortgage and Housing Corporation (CMHC) launched its new National Seniors’ Housing Survey this week that provides information collected from facilities in all provinces on vacancy rates and rents in seniors’ residences with services not offered in traditional rental structures. Vacancy rates varied considerably across the country, from a low of 3.4 per cent in [...]
Equity LifeStyle Properties, Inc. (NYSE: ELS) (the “Company” or “ELS”) announced on Monday that it has commenced an underwritten public offering of 4,000,000 shares of common stock and announced commitments for mortgages on four manufactured home properties. ELS, which is a fully integrated owner and operator of lifestyle-oriented properties, intends to use the net proceeds [...]
Rochester based not-for-profit PathStone Corporation recently celebrated the grand opening of CanalView apartments with government officials and residents, as well as the agencies and corporations that assisted in the transformation the three-acre site into a new affordable housing complex for senior citizens in the heart of the Village of Lyons. Construction began in February 2008 [...]
HCP (NYSE:HCP) announced that the management agreements on 15 communities operated by Sunrise Senior Living (NYSE:SRZ), Inc. or its subsidiaries (“Sunrise”) have been terminated effective October 1, 2009, for Sunrise’s failure to achieve certain performance thresholds. HCP expects to transition these facilities to new operators during the second half of 2009, reducing the Sunrise-managed properties [...]
Earlier this month, Comptroller of the Currency, John C. Dugan warned that reverse mortgages pose significant compliance risks and said regulators should get out in front of this issue, before real problems develop, so that these loans are made “in a way that is prudent for both lenders and borrowers.” This statement has brought up [...]
Sunrise Senior Living Inc. (“Sunrise”) (NYSE:SRZ) released an 8-K on Thursday that stated it and and its wholly owned subsidiary, Trinity (collectively, the “Sunrise Parties”) had entered entered into a Settlement Agreement (the “Agreement”) with the former majority stockholders of Trinity Hospice, Inc. (“Trinity”) (collectively, the “Selling Parties”), which, among other matters, provides for the [...]
The Village at Gleannloch Farms, a 25 acre master-planned development in Houston, Texas celebrated its official grand opening this week with excitement from residents and the surrounding Texas community. The Village at Gleannloch Farms is a not-for-profit community offering 123 independent living apartments and cottages for active seniors aged 62 and above. In addition, the [...]
Sun Healthcare Group, Inc. ("Sun") (NasdaqGS:SUNH) is participating and presenting at the Jefferies Healthcare Conference this week and released a copy of its presentation for the general public. The presentation gives investors an overview of its current business operations and presents some financial information from its first quarter 2009 operations. The company reports that it [...]
According to a recent national survey, assisted living remains enormously popular among seniors and their families despite the challenging economic environment. The 2009 Overview of Assisted Living, a comprehensive measure of the state of the industry conducted by the leading senior living associations, shows occupancy rates in 2009 are nearly 95 percent, only a slight [...]
