CLW Health Care Services Group recently represented a national healthcare REIT in the sale of Brantleys Assisted Living, located in Milledgeville, Ga. The 40-unit senior housing community was built in 1987, with additions in 1989 and 1993. It is licensed for 48 beds. Senior Living Management Corporation, a senior housing operator and developer with communities [...]
The Department of Health and Human Services recently drafted a plan to address the nation’s growing Alzheimer’s problem, but its framework fails to fully acknowledge the role of assisted living in caring for those with the disease, the Assisted Living Federation of America (ALFA) recently pointed out. In response, ALFA is campaigning that assisted living’s [...]
Chelsea Senior Living, LLC, an assisted and independent living community operator with communities located in New Jersey, Pennsylvania, and New York, recently expanded its Northeastern presence with a New Jersey acquisition. The operator acquired senior residence Van Dyk at Bald Eagle Commons for an undisclosed sum, and has since renamed the community the Chelsea at [...]
Assisted living laws in Florida could go from one side of the spectrum to the other in the wake of the Miami Herald’s series on elder abuse that occurred in many state facilities, with little or no ramifications. Now, Florida lawmakers are looking to shift the state’s caretaker oversight from negligent to possibly the toughest [...]
Healthcare Transactions Group, Inc., based in Baltimore, Md., announced that it closed the sale of an Illinois long-term care facility portfolio on Dec. 30, 2011. The portfolio includes eight skilled nursing facilities and one assisted living facility, located mainly in the greater Chicagoland area and in Central Illinois, for a total of 1,540 beds. The [...]
When various types of buildings end up vacant and in disuse, sometimes the next logical step is to repurpose them for senior housing, especially as the nation’s senior demographic grows at a rapid pace. Old hospitals, hotels, and schools are probably the three most common types of buildings that can be converted into an assisted [...]
How much will an average assisted living cost? The answers vary widely depending on region, but the latest data from Northwestern Mutual indicates that assisted living residents face a single room average of $3,372.41 per month. For nursing home patients, the average is $246 per day. The costs are mounting at a time when Americans are [...]
Belmont Village Senior Living Breaks Ground in Dallas, Texas Belmont Village Senior Living broke ground in January for Belmont Village Turtle Creek, scheduled to open in Summer 2013. The senior living community will feature 201 private independent and assisted living units, as well as Alzheimer’s care, in a French-provincial style mid-rise building building that will house [...]
Of more than 38,000 assisted living communities across the nation, Caring.com sought to find the best facilities based on popular consumer vote. The site designated 119 communities “Caring Stars” of 2012 in recognition of service excellence, with the results announced this week. Across 24 states, the communities received the designation based on a yearlong compilation [...]
Are Private Equity Firms the Next Big Investor in Senior Housing?
Most will agree that 2011 was the year of the REITs, with healthcare real estate investment trusts going on a $20 billion spending spree, writes the National Real Estate Investor, but in 2012, private equity firms could be the “next big investors in seniors housing.” “Private equity will be active this coming year in seniors [...]
Healthcare M&A Spending Swells 11% in 2011 to $227 Billion
Last year saw $227.4 billion worth of healthcare merger, acquisition, and takeover activity, representing an 11% increase from the $205.6 billion spend in 2010, according to Irving Levin Associates, Inc. In terms of financing dollars, 2011 was the fourth-largest year of the past decade, although the actual number of deals announced in the year decreased [...]
Challenges and Prospects in Repurposing Old Buildings for Assisted Living
When various types of buildings end up vacant and in disuse, sometimes the next logical step is to repurpose them for senior housing, especially as the nation’s senior demographic grows at a rapid pace. Old hospitals, hotels, and schools are probably the three most common types of buildings that can be converted into an assisted [...]
Financing Senior Care Renovation: Less Risky Alternative to New Construction?
New construction starts remain significantly below peak 2007 levels, according to data from the National Investment Center for the Seniors Housing & Care Industry, and with financing largely unavailable for ground-up construction, is renovation or rehabilitation of senior care facilities a less-risky alternative for lenders? With nursing homes across the nation an average of nearly four [...]
Recent Senior Housing Finance Activity: Love, Ziegler, KeyBank
Love Funding Secures a $4.6 Million Loan Refinance for Illinois ALF Love Funding announced on Jan. 3 that it closed a $4.6 million refinancing through the Department of Housing and Urban Development’s 232/223(f) loan program for an assisted living and memory care center located in Milan, Illinois. Avonlea Cottage of Quad Cities is a 46-unit [...]
