Avoidable rehospitalizations are one of the most significant issues in acute and post-acute care, and because a substantial number of Medicare beneficiaries are readmitted to hospitals after having been discharged, at high costs to Medicare, the Alliance for Quality Nursing Home Care has detailed an interim initiative to reduce hospitalizations from skilled nursing facilities (SNFs)—or else [...]
Greenfield Senior Living, Inc. announced on Nov. 7 its acquisition of two senior living facilities located in Memphis, Tenn., for a total transaction cost of $5.6 million. Waverly Gardens, a 168-unit independent living community, was purchased from Waverly Gardens of Memphis LLC. Waverly Glen, a 52-unit assisted living and memory care community, was purchased from [...]
The recession has left in its wake many empty hotels, shopping centers, churches, malls, and other buildings. While the situation can look bleak, it is in fact an opportunity for senior housing developers, who often see the abandonment of such properties as a chance to retrofit, reuse, and adapt them into retirement communities, senior apartments, or assisted living facilities. [...]
Even though many Americans are aware they will likely need long-term care down the road, many are dragging their feet when it comes to actually preparing for their future health requirements, shows Genworth’s 2011 Financial Reality Check Study. Circumstances that triggered survey respondents to looking into buying a long-term care policy include knowing someone who experienced [...]
Through one of the first of Fannie Mae’s new ARM 7-6 loans, Red Mortgage Capital has secured $5.62 million in financing for a Colorado memory care facility. The non-recourse financing, which has been made available by Fannie Mae earlier this year, was provided to Balfour Senior Living to refinance its Balfour Cherrywood Village Memory Care [...]
The Texas Department of Housing and Community Affairs (TDHCA) along with State Representative Jim Pitts announced on Monday the awarding of a $950,000 loan to private developers who are constructing Terrace at MidTowne, a new affordable rental property in Midlothian, Tex. The loan, made through the Department’s HOME Investment Partnerships Program, is funded through the [...]
Fannie Mae’s asking for a $7.8 billion bailout as its single-family portfolio continues to struggle with growing default rates, but its seniors housing loan performance is doing just fine with no seriously delinquent loans or contributions to credit loss. The seniors housing asset class makes up 8% of the Multifamily Guarantee Book of Business, with [...]
The growing senior population in the United States is facing a variety of concerns as they head into retirement, and the LGBT (lesbian, gay, bisexual, & transgender) community has its own share of worries, especially regarding where they will live, according to The Aging and Health Report which surveyed 2,560 LGBT older adults. The survey estimates that [...]
Construction has begun on The Terraces at Bonita Springs, Fla., for a $70 million senior living community that is 80% reserved. Investment bank Ziegler announced on Thursday that is has closed a $143,120,000 non-rated, fixed-rate issue for the community. “Start-up senior living communities are among the most difficult project financings to complete in today’s challenging [...]
