Officials from the City of Chicago and local community members recently celebrated the grand opening of the the TRC Senior Village in Chicago’s Washington Park community. The 85,000 square foot independent living community features 70 one-bedroom apartments and is targeted for residents at least 62 years old and have an annual income less than 50 [...]
Cornerstone Healthcare Plus REIT announced last week that it has executed a definitive agreement to acquire Sunrise at Floral Vale in Yardley, Pennsylvania for $4.5 million. The 36 unit, 26,000 square foot community will be rebranded as River’s Edge of Yardley and continue to meet the needs of memory impaired residents. The acquisition of the [...]
Most people enjoy exercising while listening to music but that combination may have added benefits for seniors based upon the results of a new study. Researchers in Switzerland have published a study in the Archives of Internal Medicine that shows that a exercise program set to music provides measurable improvements for seniors in balance and [...]
Following passage of a similar bill by the Senate, the House of Representatives has passed a measure to extend the current reimbursement rate structure for doctors for 30 days. The House approved the measure passed by the Senate in a voice vote that will extend the current payment formula for Medicare doctors. The measure will [...]
Senior Management Advisors (SMA) and Valstone Partners have announced the acquisition of an assisted living and Alzheimer’s care residential community formerly known as Emeritus at Altamonte Springs and located in Altamonte Springs, Florida. As part of the acquisition, the community will be renamed the Grand Villa of Altamonte Springs. The joint venture partners expect to [...]
Senior Housing News is pleased to announce that it is moderating a panel for senior housing / home automation at the upcoming Silvers Summit at the Consumer Electronics Show (CES) on January 8, 2011. Silvers Summit, part of the Living in Digital Times program at CES, features panels, presentations, and interactive demonstrations on products and [...]
AdCare Health Systems, Inc. (NYSE Amex: ADK) announced earlier this month that it has signed a definitive agreement to purchase Mountain Trace Nursing Center, a 106‐bed nursing facility in Sylva, North Carolina, for $6.1 million. The transaction, which is expected to close by year end, will be finance through a bank loan guaranteed by the [...]
Morningside House Senior Living and Harrison Street Real Estate Capital of Chicago recently announced a $200 million joint venture agreement that will result in the immediate capitalization of six stabilized assisted living and memory care properties. The investment, made through Harrison Street Real Estate Partners III, LP, will provide recapitalization for six Morningside communities in [...]
Medicare’s Drug Benefit: A Remedy That Really Works
By William M. Matz, Jr., Major General, US Army Retired Five years in, Medicare’s prescription drug benefit is a striking success. The program, known as Medicare Part D, gives tens of millions of seniors access to life-enhancing medicines and dramatically lowers out-of-pocket spending. Better yet, Part D’s greatest flaw – the gap in coverage known [...]