Ballard Nursing Center was sold to Resurrection Health Care, a not for profit, that owns six hospitals and six nursing facilities in the Chicago area. The sale was facilitated by Senior Living Investment Brokerage and was a strategic acquisition that provides specialized acute medical services and care for residents that require ventilators, dialysis, and tracheotomy care. [...]
SKH Subsidiary to Acquire Home Health Care Agency Skilled Healthcare Group, Inc. (NYSE: SKH) has announced that one of its subsidiaries has agreed to acquire Altura Homecare & Rehab, a home health care agency serving the Albuquerque, New Mexico market. Chris Tapia, Altura’s majority owner and operator since 2009, will continue to manage the business and be active in [...]
The Coronet, a new 150 unit affordable senior housing complex in San Francisco, CA, celebrated its grand opening last week. The building will provide housing and health services for approximately 225 independent senior citizens in San Francisco’s Richmond district, and was financed in part by a $19.4 million tax credit equity investment from Union Bank. Developed by BRIDGE [...]
Construction has begun on a new senior care facility for Tockwotton Home, which is expanding and relocating from Providence to East Providence, Rhode Island. Groundbreaking for the construction comes on the heels of completing financing for the $53.2 million project. Tockwotton Home, which offers memory care, an assisted living facility, and a skilled nursing home, [...]
AdCare Health Systems Inc. will pay $38.5 million for 15 skilled nursing facilities in four states. Located in South Carolina, North Carolina, Virginia and Tennessee, the facilities have 1,995 beds and generate an estimated $93 million in gross annualized revenues according to their most recent financials. AdCare said its annualized run rate is expected to exceed $268 [...]
For the first time in eight months, home prices saw a month-over-month increase in April according to the Standard & Poors/Case-Shiller Home Price Indices. During April, the 10- and 20-City composite indices increased 0.8% and 0.7% respectively, compared with their March 2011 levels. Both indices remain below their April 2010 levels. “In a welcome shift [...]
Senior Housing Properties Trust (NYSE: SNH), a Real Estate Investment Trust (REIT) that owns assisted-living communities, nursing homes and rehabilitation hospitals said it would sell at least 6.5 million shares on Monday. Proceeds would be used to reduce the amount due under the company’s revolving credit facility and for general business purposes, which could include funding [...]
Harrison Street Real Estate Capital (“HSRE”) has completed its third real estate private equity fund, Harrison Street Real Estate Partners III, L.P. (HSREP III). The firm said exceeded its original goal of $500 million, receiving $595 million total. Investors in the fund include U.S and European pension funds, insurance companies, endowments, foundations and family offices. The Fund already [...]
Construction for a $35 million Springpoint Senior Living community is underway in Red Bank, New Jersey, and the need for senior housing is clear as nearly all of the building’s 60 units have already been spoken for. The construction will be an addition to the already-existent The Atrium, which features luxury continuing care retirement, assisted living [...]
