While the economic downturn has impacted all segments of senior housing finance and construction, it has also taken a toll on a particular part of the market—non-profit institutions that run senior housing facilities. Non-profits are struggling generally in light of the downturn, with many reporting that they have had to cut staff and resources due […]
For continuing care retirement communities (CCRCs), the recent 11.1% cut to Medicare reimbursements to skilled nursing that took effect in October will not derail ratings for the communities, Fitch Ratings reported Monday. The global ratings agency said that a material number of downgrades are not expected for the CCRCs that it rates, citing the composition […]
The Center for Medicare and Medicaid Innovation announced this month that it will award a billion dollars in grants to heath care innovators who offer the most compelling ideas toward improved care and lower costs for those enrolled in government-sponsored health care programs including Medicare and Medicaid. Through its “Health Care Innovation Challenge,” CMS will […]
Love Funding has secured $8.06 million in Federal Housing Administration funding for the refinancing of a New Jersey assisted living community. A 120-bed community in Toms River, New Jersey, Magnolia Gardens will receive the funding through the Department of Housing and Urban Development’s (HUD) 232/223(a)(7) loan program. The program will allow for the property owner […]
The population of 90+ Americans is projected to more than quadruple over the course of the next four decades, Census data released this week states. That population nearly tripled over the past 30 years to reach 1.9 million in 2010, comprising 4.7% of the overall population. The growing demographic has strong implications for senior housing […]
The senior population suffers far more from poverty than previously thought, says a new U.S. Census report that includes supplemental poverty measures that reflect a more accurate portrayal of the poverty rate in America. Revised poverty measures show that the senior population is deeply affected by poverty in the U.S., at a rate of 16%, […]
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 […]
Investors are worried that deep cuts in Medicare spending will take a toll on skilled nursing operators and stifle skilled nursing facilities’ rent payments, a MarketWatch article published this week states. However, some analysts say that investor response, which can be seen in sharply fallen stocks, is a strong overreaction. “Even in an era of increased austerity, […]
Non-profit seniors and disabled housing providers will finally receive $750 million in grants from the Department of Housing and Urban Development that were allocated for 2011 and 2010, the department announced Wednesday. The announcement comes just two months following the decision by Congress to slash funding for the program from the U.S. 2012 budget, leaving […]
KeyBank Real Estate Capital has agreed to provide Freddie Mac funding totaling $28.6 million to Emeritus Corp. (NYSE:ESC) for three of its seniors housing properties. The funding will allow Emeritus to refinance the three properties, located in Ohio, Colorado and Kentucky. The properties are all assisted living facilities, two of which include Alzheimer’s facilities. The […]
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