Brandywine Senior Living has acquired four assisted living communities from Springpoint for an undisclosed sum. Based in Mt. Laurel, NJ, Springpoint said the sale allows the business to focus on and dedicate its resources its core business of continuing care retirement and affordable housing communities for older Americans. The four assisted living communities are Haddonfield [...]
The Clare at Water Tower has filed for bankruptcy protection from creditors after failing to make debt payments, reports Bloomberg, following a September default on municipal bonds used to fund the luxury senior living facility. Assets and liabilities were each as much as $500 million, the not-for-profit facility reported in its Chapter 11 filing, dated Nov. 14 [...]
The board of Grubb & Ellis Healthcare REIT II, Inc. announced last week that its management structure will be transitioning away from Grubb & Ellis Company and its affiliates, and will now be co-sponsored by American Healthcare Investors, LLC and Griffin Capital Corporation. The independent members of the board of directors for the health care REIT [...]
Nests are taking longer to get empty as the number of young adults living with their parents increased between 2005 and 2011, U.S. Census Bureau data shows, with about 15% more 25- to 34-year-olds staying at home. The percentage of men in that age group who remained living in their parent’s homes rose from 14% [...]
More than a third of skilled nursing facilities are expecting to lay off staff in the wake of Medicare reimbursement rate cuts, affecting the quality of care given, according to a survey conducted by Avalere Health for the Alliance for Quality Nursing Home Care. However, the impact would be less severe if the cuts were [...]
LTC Properties (NYSE:LTC) announced the acquisition of a skilled nursing property with 156 licensed beds in Colton, CA for $17.5 million. Built in 1990, the facility primarily operates a sub-acute program that consists mainly of managed care contracts and specialty government reimbursement said LTC. Simultaneous with the purchase, the LTC leased the property to an [...]
After a widespread outcry in the skilled nursing industry following the announcement of an 11.1% reduction in Medicare reimbursement rates, many SNF operators are finding ways to stay profitable and mitigate the effects of the cuts that went into effect at the start of the fourth quarter. Earnings conference calls for senior housing operators and [...]
While the Midwest is on its way toward recovery in the seniors housing and care market, Chicago’s progress may be impeded as a hefty construction pipeline might depress occupancy rates, said an industry analyst for the National Investment Center for the Seniors Housing & Care Industry (NIC) at the NIC MAP Midwest Market Briefing held [...]
The House Committee on Education and the Workforce recently approved the Workforce Democracy and Fairness Act (H.R. 3094),that helps curb the National Labor Relations Board (NLRB) and reaffirm protections for both workers and employers. The committee passed the legislation by a vote of 23 to 16. “We can’t wait for Democrats in Washington to wake [...]
