Medicare payments to skilled nursing facilities will be 11.1% lower starting Oct. 1 according to the Centers for Medicare & Medicaid Services. The change will result in a net reduction of $3.87 billion for fiscal year 2012 was made to correct for an unintended spike in payment levels and to better align Medicare payments with costs. “CMS [...]
SeniorLiving.net (SLN) has been acquired by RealPage, Inc. for $4.5 million in cash with the potential to earn additional consideration upon achieving future financial targets through June 2014. SLN is an internet lead generation platform for the senior housing market that helps families with aging parents find care providers. According to RealPage, the company generates leads [...]
Five Star Quality Care, Inc. (NYSE:FVE) reported a 36% decrease in net income for the second quarter 2011, with $5.2 million, down from from $8.2 million in 2Q 2010, due in part to a loss of income from discontinued operations. However, it experienced a 3.4% increase in total revenues to $312.6 million in the second quarter [...]
Cambridge Realty Capital Companies has provided a $9.04 million loan insured by the Federal Housing Administration to refinance Brittany House, a 126-bed assisted living facility in Long Beach, Calif. Brittany House is a part of Health Care Group Activcare Residential Alzheimer’s Care Community. Based in San Diego, the group manages nine senior housing facilities that provide more [...]
Although the Medicaid program is a boon to thousands of low-income seniors, it may pose some difficulties for assisted living facility residents to remain where they’ve chosen to live. Sometimes, residents who began as private pay eventually spend down their funds and can no longer afford to pay for their care out of pocket. In [...]
Health Care REIT, Inc. recently announced the closing of a new, $2 billion unsecured revolving credit facility. The facility, which has a four-year term, replaces a $1.15 billion unsecured revolving credit facility scheduled to mature in August of next year. The new facility provides the options of an additional one-year extension at the company’s discretion, [...]
Senior Housing Properties Trust (NYSE:SNH) reported a 107% increase in net income in the second quarter 2011, as a result of the sales of several of its properties in the quarter. Net income for the quarter ending on June 30, 2011 was $51.05 million, or $0.36 per share, up from last year’s $24.56 million and $0.19 [...]
Tryko Partners announced it has acquired the Kearsley Apartments and Kearsley Square and skilled nursing services at Kearsley Long Term Care for $8 million. The Kearsley campus has been part of the NewCourtland Network since 2004. Overlooking the Bala Golf Course, all three properties are located on a 13-acre campus at 2100 N. 49th St. Kearsley Apartments features [...]
Occupancy rates are holding steady for seniors housing in the second quarter of 2011, while the pace of rent growth is rising, says NIC MAP, a data analysis service of the National Investment Center for the Seniors Housing & Care Industry (NIC). Rent growth increased fairly significantly on a quarterly basis, going from 0.9% to [...]
