Aviv Centers for Living is expected to close Friday on $50 million in financing that will centralize its skilled nursing and assisted living facilities onto a single campus. Expected to close on Friday, the financing will fund construction of a new 144-bed replacement skilled nursing facility on the Peabody, Mass., campus and refinance about $17 [...]
Washington will be the first state to clamp down on the explosive growth of elder care referral businesses according to a report from the Seattle Times. The providers help guide families through a range of options for their loved ones that can include assisting living or other senior housing that best fits their needs for [...]
Outer Marker Properties broke ground on a new $12.2 million, 53,000 sq. ft. assisted living and memory care facility in Buford, GA, last week. The project, Ivy Springs Manor, sits on 3.7 acres and will feature 78 total units with 54 of them dedicated to assisted living as well as another 24 that are devoted [...]
Senior Housing Properties Trust (NYSE: SNH) reported funds from operations (FFO) for the first quarter of 2011 came in at $62.1 million, or $0.44 per share. During the quarter, net income was $31.8 million, or $0.22 per share, up from $30.0 million, or $0.24 per share, for the quarter ended March 31, 2010. The weighted average number [...]
Lutheran Homes Society (LHS) held a ceremony on April 20, 2011, to bless the construction of The Labuhn Center for Rehabilitation Services, which will be located on the Lutheran Home at Toledo campus, 131 N. Wheeling Street, Toledo. The $4 million expansion will add 27 private rooms for short-term skilled nursing and rehabilitation services. The [...]
AT Home Care is partnering with WellAWARE Systems to offer a monitoring system designed to help seniors live more independently in their own homes as well as in long-term care facilities throughout Virginia. The technology passively monitors key wellness indicators without the use of cameras, microphones, or wearable devices to enhance patient health data. “We are [...]
Sunrise Senior Living (NYSE: SRZ) reported that Millennium Management LLC has a 5.3% stake in the company according to a recent filing from the U.S. Securities and Exchange Commission. Millennium Management is a global investment management firm with approximately 800 employees and $10.1 billion in assets under management. A portion of the company’s stake is [...]
Hurting for cash, some county governments are looking to unload long term care facilities to private companies according to National Real Estate Investor. Evans Senior Investments is one company that brokered the sale of a South Carolina continuing care community for $11.3 million to Madison Healthcare Management. Prestige Healthcare, based in Louisville, will operate the [...]
New research shows that individuals who purchased long term care insurance protection in 2010 favor limited duration policies according to the American Association for Long-Term Care Insurance. The trade organization found that after analyzing 153,000 policies, 57.1% of purchasers selected policies with a benefit period of 4-years or less. “Limited duration policies continue to become [...]
