CRL Senior Living Communities recently completed the construction of its second Illinois location, and plans to continue its expansion into the Chicago area, reports REJournals.com. The company’s CEO, Ari Weinberger, is the majority shareholder along with chairman Douglas Cameron, and the duo is looking toward senior housing acquisitions rather than construction when it comes to […]
Category: Assisted Living
Men are generally considered “tough customers,” and it’s a hard sell to get them into assisted living facilities, especially as those facilities are often female-oriented, says a recent Washington Post article. Facilities need to find ways to cater to a wider variety of people, including males, if they want to attract more residents. “We need […]
AdCare Health Systems said it has signed a definitive agreement to purchase a skilled nursing and assisted living community in Ohio for $13.5 million. The community has 193 beds and generates an estimated $12 million in gross annualized revenue said AdCare in a statement. Expected to close before the end of the year, AdCare plans […]
Senior housing operators looking for quick funding as well as long-term financing have a new option from Fannie Mae. The FNMA ARM 7/6 is a 1-month LIBOR-based product that allows for acquisitions or refinances and comes with attractive features for borrowers looking for flexibility. “This new Fannie Mae option lets assisted living providers get a […]
Mainstreet Property Group has plans to build a senior care campus in Wabash, Ind. and will invest more than $15 million in the project. The campus will include hotel-style living, private rooms, and social amenities, like restaurant-style dining. The facility will offer care to seniors who require skilled nursing and assisted living, as well as […]
Marcus & Millichap Real Estate Investment Services recently arranged the sale of a $40 million portfolio consisting of two New England assisted living care facilities. The first property, Village at Fillmore Pond in Bennington, Vt., sold for $20.9 million, and has 101 units consisting of 30 independent-living units units, 45 assisted-living units, 12 memory-care units and […]
An investor group led by affiliates of Westport Capital Partners LLC recently announced it has closed on the sale of a senior housing property to a publicly traded senior housing property owner-operator. The property, The Inn at Fillmore Pond, represents the fourth and final sale of a four-facility portfolio, acquired in April 2007 by the […]
Although the Medicaid program is a boon to thousands of low-income seniors, it may pose some difficulties for assisted living facility residents to remain where they’ve chosen to live. Sometimes, residents who began as private pay eventually spend down their funds and can no longer afford to pay for their care out of pocket. In […]
Occupancy rates are holding steady for seniors housing in the second quarter of 2011, while the pace of rent growth is rising, says NIC MAP, a data analysis service of the National Investment Center for the Seniors Housing & Care Industry (NIC). Rent growth increased fairly significantly on a quarterly basis, going from 0.9% to […]
National Health Investors, Inc. (NH) recently announced that it will be funding a second mortgage for the development and construction of Brentwood at Fore Ranch, an assisted living and memory care community in Ocala, Florida. The three-year loan, which is for $2.5 million, will be fully funded at closing with an annual interest rate of […]