ActiveCare, Inc. (ACAR.OB) has secured a $10 million equity line of credit funding from a group of European investors. Led by Sapina, LTD., the funding is expected to help strategically align ActiveCare as a leader in the senior care market. The company plans to use the funding to complete a significant R&D project and realign [...]
A recent Seniors Housing Study released by National Real Estate Investor and Senior Housing Investment Advisor showed nearly half of survey respondents indicating HUD’s Lean 232 program had fallen short of their expectations, but lenders say this is due to the long waiting period from the backlog of applications for the program, not the program itself [...]
Ventas (NYSE: VTR) is flush with a new $2 billion unsecured revolving line of credit that can be expanded by $500 million using an “accordion feature”. Priced at 125 basis points over LIBOR, the facility replaces the company’s old $1 billion line that was priced at 280 basis points. “Our NHP acquisition resulted in a [...]
CapitalSource has expanded its Healthcare Real Estate and Credit Groups with the addition of three new finance professionals. Donald Kelly III has joined the company as a director, bringing 16 years of senior housing experience to the firm. Prior to joining CapitalSource, he was the founding principal and managing partner of Energy Court Capital. Glenn [...]
Social Security retirement benefits for nearly 55 million people will rise 3.6% in 2012, the first cost of living increase since 2009 said the U.S. Social Security Administration on Wednesday. Some other changes that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum [...]
The Congress Companies is nearing the halfway mark of a $17 million, multi-phase renovation of the Bel Air Health Care Center as it recently entered the third of six phases of construction, this one involving renovations on the middle floor of the facility’s three-story tower. Headquartered in Peabody, Mass., construction management company Congress has handled [...]
America’s nursing facilities have continued to improve in quality over the years, but quality measurement needs to shift to reflect the evolution of skilled nursing services, says a report from the Alliance for Quality Nursing Home Care and American Health Care Association (AHCA) that looked at data from the Centers for Medicare and Medicaid Services [...]
Cascade Health Care, a joint venture recently formed by Columbia Pacific and Emeritus Corporation, garnered NPR’s attention as the first foreign investor authorized to open an assisted living in Shanghai, China, but the country’s demand for senior housing must be met with affordable supply. “Definitely the demand is there in terms of the number of elderly people [...]
Equity LifeStyle Properties, Inc. (NYSE:ELS) reported a net loss of $2.9 million for the third quarter ending on Sept. 30, 2011, which the company attributed to $32.5 million spent in acquisitions. This represents a net loss per diluted common share of $0.07, down from the previous year’s net income per diluted share of $0.37. Funds [...]
