Senior housing starts gained more than 50% during 2010-2011, but still fall short of their pre-recession level by nearly 10,000 units. Of current units under construction, nearly half are senior apartments, with the remaining half comprising assisted living, nursing care and independent living units, says a seniors housing industry report published in October. Independent Living […]
The Centers for Medicare & Medicaid Services (CMS) issued a final rule last Monday that will cause an estimated 2.31% decrease in payments to home health agencies in calendar year 2012. The rule, which updates the Home Health Prospective Payment System (HH PPS) rates for 2012, could amount to $430 million less in payments, the […]
National Health Investors, Inc. (NYSE:NHI) announced Monday a purchase and lease transaction of four skilled nursing facilities in Texas for a purchase price of $49.8 million. The facilities have an average age of two years and 498 beds, and are operated by affiliates of Legend Healthcare. NHI, a Murfreesboro, Tenn.-based healthcare real estate investment trust […]
A Senate Committee hearing held this week called for questions and answers about the way assisted living facilities are run in the United States and in Florida in particular. In the Select Committee on Aging titled “Ensuring Quality and Oversight in Assisted Living,” the committee heard testimony from people inside and outside of the assisted […]
Ventas Inc. (NYSE: VTR) reported an increase in normalized funds from operations (FFO) to $255.1 million, or $0.88 per diluted share, for the third quarter ended September 30, up 20.5% from the previous year’s $115.4 million, or $0.73 per diluted share during the third quarter of 2010. Net income attributable to common stockholders for the […]
National Health Investors (NYSE:NHI) is working toward scaling down skilled nursing and ramping up on senior housing volume in the coming two years, the health care real estate investment trust (REIT) president and CEO told NIC MAP in a recent interview. Additionally, the REIT has underwritten much more conservatively following 11.1% cuts to skilled nursing […]
Specialty investment bank Zeigler announced Monday that it has closed a $62 million fixed-rate issue for Episcopal Senior Communities (ESC), a California non-profit public benefit corporation that provides housing, related facilities and services for elderly people on a non-profit, religious and charitable basis. “ESC is among the highest rated and strongest multi-site senior living systems […]
Medicaid finances 43% of all long-term care spending including some associated with independent living, a Kaiser Family Foundation report finds. Although the population who rely on long-term care are diverse and comprise only 6% of the total Medicaid population in 2007, they accounted for nearly half of total Medicaid spending that year, the findings state. […]
Despite the dominance of government assisted financing and Real Estate Investment Trusts (REITs) in senior housing, more traditional balance sheet lending is coming back after the collapse of the market in 2007. While Real Capital Analytics, which tracks industry statistics, did not have specific data on the prevalance of bank financing in the market to […]
Proposals to shift skilled nursing facility (SNF) Medicare costs to beneficiaries themselves could lead to unfavorable unintended consequences, the Alliance for Quality Nursing Home Care said this week. The Alliance, a coalition of 12 post-acute and long term care organizations warned that recent cost-sharing proposals could have “serious unintended consequences,” such as an increase in […]
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