The New York Times ran an article entitled “Helping Elderly Leave Nursing Homes for a Home” that provided a positive review of the Money Follows the Person (MFP) concept. The concept is a federal initiative to help states reduce their reliance on institutional care for people needing long-term care, and expand options for elderly people [...]
Health Care REIT, Inc. (NYSE:HCN) recently announced the expiration of its tender offer (the “Offer”) to purchase for cash any and all of its outstanding 8.00% Senior Notes due 2012 (the “Notes”). As of the Expiration Date, $161,424,000 aggregate principal amount of outstanding Notes had been validly tendered and accepted which is approximately 68% of [...]
Lifespace Communities, Inc., is the new corporate name and identity being launched on October 1, 2009, by the former Life Care Retirement Communities Inc., a not-for-profit organization that owns and manages 11 senior living communities in the U.S. The organization’s new name change includes a corporate identity system that adds “A Lifespace Community” to each [...]
Last week the National Investment Center (NIC) hosted its annual conference in Chicago and had over 1500 attendees learning about current senior housing trends and networking amongst peers. The conference highlighted that while senior housing maybe down along with the broader commercial real estate market, it is more resilient than other real estate investment classes [...]
The City of Rancho Mirage and The Olson Company celebrated the ground breaking of a new senior retirement community that culminates several years of planning, entitlement and design work. The San Jacinto Villas community will become the city’s newest age and income restricted rental community set on 8.7 acres and will consist of 82 one [...]
Last week, GE Capital’s Healthcare Financial Services business announced that it deployed approximately $1 billion for more than 45 transactions that included refinance of existing debt, supporting working capital needs and funding growth initiatives in the U.S. healthcare market. “There is no doubt the economic downturn has presented challenges and opportunities in the healthcare real [...]
Last week, the U.S. Department of Housing and Urban Development announced a new set of principal limit factors for the Federal Housing Administration (FHA) HECM reverse mortgage program. The changes will lower the principal limits for the HECM by 10%. Set to go into effect for FHA Reverse Mortgages assigned on or after October 1, [...]
Abundant Life Fellowship, a non-denominational Christian Church located in Edgewater, NJ, is finalizing plans for creating mixed-use community featuring affordable apartments for low-income seniors as well as a regional medical center on a 52-acre site that the Church owns in Delanco, N.J. The campus, to be called Living Springs, will be developed on the former [...]
Lancaster Pollard, a boutique investment bank focused on health care and housing finance, is announcing the expansion of its operations with the opening of a new Western region office in Los Angeles. The Columbus, Ohio-based firm’s seventh location will be managed by veteran public finance banker Anthony J. Taddey, Managing Director. Mr. Taddey will serve [...]
