Within the next 20 years, more than 70 million Americans will have reached retirement age, posing significant challenges for the senior housing industry and one the Department of Housing and Urban Development is looking to address. Speaking before the LeadingAge Annual Conference in Washington, DC, Shaun Donavan, Secretary for HUD said the growing need for senior [...]
Affiliates of Senior Lifestyle Corporation and AEW Capital Management, L.P. (AEW) announced the acquisition the Carlisle Palm Beach, an in independet and assisted living community in Florida. The acquisition is the sixth Florida based location it manages and one of 85 properties across the country. AEW acquired the property on behalf of AEW Senior Housing Investors, [...]
The U.S. Department of Health and Human Services announced four initiatives to give states more flexibility to adopt innovative new practices and provide better coordinated care for people with Medicaid and Medicare last week. According to HHS, fifteen states will receive federal funding to develop better ways to coordinate care for people with Medicare and [...]
ActiveCare (ACAR.OB) introduced the ActiveHome™ Monitoring System last week. The release comes after two years of development and combines ActiveCare’s mobile care service to assist seniors 24/7 no matter where they may be and allows seniors to live an independent yet safe lifestyle with their medical and everyday needs being met 24/7. “We are excited with ActiveCare’s [...]
Sunrise Senior Living (NYSE: SRZ) said it has entered into a commitment with KeyBank National Association for a $50 million senior revolving line of credit. Secured by the company’s 40% equity interest in a joint venture with wholly owned subsidiary of CNL Lifestyle Properties, the credit facility includes a $20 million sublimit to support standby letters [...]
WIth funding from Jonah Bank of Wyoming, Encore Partners will soon begin constructing a new 57 apartment, $9 million dollar assisted living community in Rock Springs, WY. Located on 4.5 acres adjacent to the Young at Heart Senior Center and will offer services to people 62 years and older and will be licensed to provide Alzheimer’s [...]
The cuts to senior citizens continue in the fiscal year 2011 budget according to the National Council on Aging. Under the FY 2011 Continuing Appropriations Act (H.R. 1473), $375 million, or 45%, is cut from the Senior Community Service Employment Program (SCSEP) and another $425 million, or 51%, was cut in the Section 202 Supportive Housing for the Elderly [...]
Care Senior Living paid $5.6 million for a 55 unit asslisted living facility located in Costa Mesa, CA. Purchased from two local investors, the facility has 112 beds and was approximately 50% leased at the time of sale said a statement from Grubb & Ellis, the firm representing the sellers. Grubb & Ellis Senior Housing [...]
Skilled Healthcare Group, Inc. (NYSE: SKH) said its Board of Directors is exploring strategic alternatives to maximize stockholder value, including a potential sale of the company’s real estate assets or the whole company. The company has engaged JP Mortgage Securities LLC to assist in analyzing whether the current favorable market conditions may enhance stockholder value. “There can be [...]
