Lexington Health Care Network recently announced plans to incorporate WellAWARE Systems’ Sleep Well Be Well program and advanced “smart sensor” technology into its independent and assisted living communities. Illinois-based Lexington Health, which manages more than 2,000 skilled nursing beds in 10 different long-term care buildings, will integrate the program into its Lexington Square Senior Residence [...]
CRL Senior Living Communities recently completed the construction of its second Illinois location, and plans to continue its expansion into the Chicago area, reports REJournals.com. The company’s CEO, Ari Weinberger, is the majority shareholder along with chairman Douglas Cameron, and the duo is looking toward senior housing acquisitions rather than construction when it comes to [...]
HCP, Inc. (NYSE:HCP) recently announced its intentions to promptly pay the approximately $102 million judgment that awards compensatory damages to Ventas, Inc. (NYSE:VTR). In September 2009, a jury verdict awarded Ventas with the judgment after they filed a suit accusing HCP of tortious interference with business expectations concerning Ventas’ acquisition of Sunrise Senior Living REIT in [...]
Kindred Healthcare, Inc. (NYSE: KND) announced its subsidiary signed a definitive agreement to acquire the equity of Professional HealthCare for $51 million in cash. Professional is a provider of home health, hospice, and private duty nursing services and durable medical equipment with 27 locations in California, Arizona, Nevada, and Utah. According to Kindred, the company is generating [...]
Men are generally considered “tough customers,” and it’s a hard sell to get them into assisted living facilities, especially as those facilities are often female-oriented, says a recent Washington Post article. Facilities need to find ways to cater to a wider variety of people, including males, if they want to attract more residents. “We need [...]
AARP Foundation announced the launch of a grant program that will award $2 million to support the changing lives of vulnerable older Americans by helping them meet their everyday needs. The program will fund a diverse range of projects that may include basic eduction to interventions spearheaded by organizations that address the social and behavioral aspects [...]
Love Funding, a provider of multifamily and healthcare financing had a record number of closings in July, with 11 transactions totaling $216.7 million. The company shattered its last monthly record set in December 2010, when the company closed on 14 loans totaling $127.5 million. The closings were led by four cross-collateralized loans totaling $118.5 million for [...]
AdCare Health Systems said it has signed a definitive agreement to purchase a skilled nursing and assisted living community in Ohio for $13.5 million. The community has 193 beds and generates an estimated $12 million in gross annualized revenue said AdCare in a statement. Expected to close before the end of the year, AdCare plans [...]
Senior housing operators looking for quick funding as well as long-term financing have a new option from Fannie Mae. The FNMA ARM 7/6 is a 1-month LIBOR-based product that allows for acquisitions or refinances and comes with attractive features for borrowers looking for flexibility. “This new Fannie Mae option lets assisted living providers get a [...]
