National Health Investors (NYSE:NHI) closed on a $5.4 million purchase of Willow Run Retirement Center, a private pay 60 unit assisted living community with four independent living cottages in Greensboro, GA. As part of the transaction, NHI is renaming the property as Savannah Court of Lake Oconee, which will be leased to Senior Living Management. [...]
Brooks Rehabilitation recently began infrastructure development on its Bartram senior housing and care campus, located in Jacksonville, Fla., adding assisted living and memory care facilities to the services it will offer. The first phase of the project will break ground in early 2012, and will include a 61-unit assisted living facility (ALF), an 18-unit memory [...]
The Jamaica Plain Neighborhood Development Corporation (JPNDC) recently received a MetLife Foundation Award for Excellence in Affordable Housing for its work with the Julia Martin House in Jamaica Plain, Mass., after demonstrating outstanding leadership, innovation, effectiveness and quality operations and services in the affordable senior housing realm. JPNDC, along with three other winners, will receive [...]
Despite declining capital rates in assisted living and skilled nursing facilities, many senior housing and care executives see promise in the industry, especially when it comes to the assisted living sector. During an online conference of senior care investors hosted by Irving Levin Associates earlier in September, a group of panelists weighed in on M&A [...]
Berkadia Commercial Mortgage announced several hires to expand its presence in senior housing financing last week, as well as the pending acquisition of mortgage banking assets that will enable it to better bolster its senior housing platform. The company announced it is in the process of acquiring Tavernier Capital Partners, a privately owned commercial mortgage [...]
The Department of Housing and Urban Development awarded nearly $100 million in grants to help public and assisted housing residents find employment and help the elderly maintain independent living. The funding can also be used to retain or hire “service coordinators” or case workers for these HUD-assisted families to connect them to the supportive services that [...]
Care Investment Trust Inc. recently acquired three senior housing facilities from affiliates of Greenfield Senior Living, Inc., for $20.8 million in a sale lease-back transaction. Greenfield affiliates have leased back the three private pay assisted living facilities, located in Virginia, under a base term of 12 years with two ten-year renewal options. Care’s investment was [...]
Minnesotan Republican lawmakers are requiring seniors to get counseling prior to entering assisted living or other senior housing as part of a Health and Human Services budget bill meant to slow the state’s spending growth, upsetting many in the senior housing industry. Section 14 of Minnesota Statutes 2010, section 256B.0911 has been amended to read, “Registered [...]
The Alliance for Quality Nursing Home Care recently denounced President Obama’s plan to cut $42 billion from Medicare over 10 years in a move that would target post-acute care providers, essentially saying it will add insult to the injuries that will be sustained from a previously-announced 11.1% reduction in Medicare reimbursement rates. Skilled nursing facilities [...]
