The MetLife Foundation is calling for entries to its 16th Annual MetLife Foundation Awards for Excellence in Affordable Housing. This year’s competition is focusing on the area of green and service enriched affordable housing for seniors. The deadline for entries is May 31, 2011. “Decent affordable housing is needed in all sectors of our community, [...]
Mainstreet announced it completed construction on a $12 million campus with assisted living and nursing care with 138 units in Lawrenceburg, Indiana, and broke ground on two new faciliaties in Valparaiso and Marion. According to the company, the facilities bring new options to seniors who want a certain standard of care that would not be possible under [...]
The Federal Home Loan Bank of Dallas (FHLB Dallas) and Bank of the Ozarks awarded a $140,000 Affordable Housing Program (AHP) grant to the Southwest Arkansas Development Council (SWADC) to assist with home rehabilitation costs. Using the grant, SWADC will provide repairs to the homes of very low-income elderly and disabled homeowners in Miller County, Arkansas. [...]
Sunrise Senior Living, Inc. (NYSE: SRZ) disclosed that certain of its subsidiaries have entered into a purchase and sale agreement with a group of funds affiliated with Morgan Stanley for the purchase by the Company of the funds’ 80% ownership interest in a joint venture entity, AL US Development Venture, LLC, that owns 15 senior [...]
Oak Grove Capital Originates $20.7 Million in Financing for 2 Seniors Housing Communities Oak Grove Capital recently announced the origination $20.7 million in fixed-rate, permanent financing through its Fannie Mae DUS program for two senior housing communities operated by The Arbor Company and owned by a closed-end fund managed by Prudential Real Estate Investors. PREI [...]
Equity LifeStyle Properties, Inc. (NYSE: ELS) announced its results for the quarter ended March 31, 2011 that showed a rise in its funds from operations based upon a rise in its’ community rental incomes and lowered operating expenses for its properties. For the first quarter, Equity LifeStyle Properties’ Funds From Operations or FFO rose to [...]
After raising $108.7 million in capital from investors, Pacific Coast Business Times (PCBT) is reporting that LTC Properties (NYSE: LTC ) is well positioned to acquire new senior housing and long term care properties. Analyst Richard Anderson of BMO Capital Markets told PCBT that the firm likely doesn’t want to draw too much attention to [...]
Wichita Business Journal is reporting that senior living projects are adding millions of dollars to its local economy. At least five major area senior housing projects have been announced in recent months. “It’s a testament to the strength of the market,” says Pat Ayars, a partner in Oxford Development Holdings, which has projects in the [...]
The Los Angeles Times reported on the impact of the rising number residential retirement communities that are running into financial problems as a result of the downturn. Residents in the community are often evicted and it’s becoming commonplace in California, with incidents reported at board-and-care homes in Los Angeles, Orange, Riverside, Contra Costa, Alameda, San [...]
