Cerenity Senior Care, a non-profit group based in St. Paul, Minn., recently announced that it’s closing two of its east metro nursing homes, Cerenity Care Center on Dellwood Place, and Cerenity Care Center-Bethesda, reports Pioneer Press. The two nursing homes will close by Nov. 11, affecting about 187 residents and more than 300 workers. “The [...]
Senior Housing Properties Trust (NYSE:SNH) recently announced its agreement to acquire $167 million worth of properties that are majority leased to medical office users and other tenants in medical-related businesses, from CommonWealth REIT (NYSE:CWH). The 13 properties, scattered in eight states across the nation, have an aggregate 1.3 million square feet, and are currently 95% [...]
In recognition of the growing senior housing industry, one West Coast school is bolstering its course offerings to suit the needs of those looking to enter the field in a professional capacity. Washington State University recently added a Senior Living Management class to its undergraduate curriculum, taught by executives and other professionals from four top [...]
In his plan to trim the federal deficit, President Barack Obama Monday proposed $320 billion in cuts to Medicare and Medicaid, largely by changing how the federal government pays health providers, slashing payments to drug companies, and dramatically changing the way it splits the costs of Medicaid with the states, according to a fact sheet [...]
Twelve lenders have joined the ranks of those approved by Freddie Mac (OTC:FMCC) to sell and service multifamily seniors housing conventional loans nationwide, after meeting new qualifications that reflect the specialized skills needed to originate these loans. Freddie Mac has provided seniors housing financing since 1998, and in June it had lenders apply for a [...]
Equity LifeStyle Properties, Inc. (NYSE:ELS) recently closed on $100 million of secured financing, which will be used to partially fund the acquisition of the remaining 18 properties of a 76-property portfolio. The loan has an interest rate of 5% per annum, and requires interest-only payments for the first two years; it will mature on Nov. [...]
With the majority of seniors choosing to stay home for as long as possible, there has been a steady demand for age-in-place design features, both in new construction and in remodels. According to a 2010 AARP study, 89% of householders over 45 want to age in place, and that trend is likely to continue. “Most [...]
The Robert Wood Johnson Foundation and NCB Capital Impact are providing a $10 million low-interest credit facility to finance the building of Green House homes, a community-based care that offers a high-quality alternative to traditional institutional skilled nursing facilities. The Green House model is designed to provide residents nursing support and clinical care without it [...]
Cypresswood Estates, an affordable housing community for active adults aged 55 or older, has been named by the National Association of Home Builders (NAHB) as a finalist for the Multifamily Pillars of the Industry award for its energy-efficient construction. Located in Houston, Tex., the community achieved NAHB’s recognition as the nation’s first affordable housing for [...]
