Presbyterian Senior Living (PSL) and Springwood Real Estate Services recently held a ground breaking ceremony for Westminster Place at Stewartstown. Westminster Place at Stewartstown is a $16.2 million dollar, 96-apartment affordable housing community that will offer 71 one bedroom and 25 two bedroom apartments to seniors 55 and over. The project was designed by Murphy [...]
Ventas, Inc. (NYSE: VTR) announced last week that it closed on a commitment for $50 million of additional credit capacity under its Revolving Credit Facilities to mature in 2012. The additional commitment comes from a financial institution that will join Ventas’s bank group as a new lender. Upon closing of the additional commitment, the Ventas’s [...]
Last installment for 2009’s movers and shakers. Send your 2010 staff announcements to movers-shakers@seniorhousingnews.com. Looking to advertise positions for new & future movers and shakers? Check out our Senior Housing Jobs section for more information.
NorthStar Realty Finance Corp. (NYSE: NRF) said it has completed the sale of 18 assisted living facilities containing approximately 1,300 beds located in North Carolina to a private investor group for $95 million. The company said it expects the sale to generate approximately $36 million of cash proceeds to NorthStar after transaction costs and repayment [...]
Even though the 65 and older crowd make up less than 10 percent of current web users, their numbers are growing quickly. Over the last five years the number of seniors actively using the Internet has increased by more than 55 percent, from 11.3 million active users in November 2004 to 17.5 million in November [...]
Grant’s Ferry Cove, a newly designed master planned community designed for active adults 55 and older, recently opened in Brunswick, Georgia. The community, which is limited to 115 homes, includes an array of amenities that include a spectacular lakeside clubhouse with a state-of-the-art fitness center and yoga studio, card room, and business center, community tennis [...]
Erickson Retirement Communities (Erickson) announced last week that it has selected Redwood Capital Investments LLC as the successful bidder to acquire substantially all the assets of the company, subject to court approval. Erickson Retirement Communities received two qualified bids for the purchase of the company and the auction occurred on December 22, 2009 and specific [...]
Greenblock® Worldwide Corporation announced that its Insulated Concrete Form (ICF) Wall System has been selected for use in the new senior community featured at the Yuma Senior Terraces in Yuma, Arizona. This private, resort-style neighborhood will feature 60 apartment homes and a “Community Life Center”, each designed and built with Greenblock high-performance insulated concrete form [...]
Cambridge Realty Capital Companies recently announced that it has provided a $13.4 million FHA-insured “Lean” first mortgage loan to refinance Astoria Nursing and Rehab Center, a 218-bed skilled nursing home facility in Sylmar, California. The transaction was coordinated by National Origination Manager Hymie Barber of Catalyst/Cambridge Healthcare Finance, the company’s West Coast affiliate. It was [...]
