Category: CCRCs

Forbes: 8 Major CCRC Considerations

Continuing care retirement communities (CCRCs) have been in the market for 70 years, but are rising in popularity among today’s retirees, writes Forbes in a recent article. Today, there are nearly 2,000 continuing-care communities in the U.S., servicing more than 570,000 residents. More than 80% of CCRCs are nonprofits. Forbes offers eight variables for those considering… Read More »

Movers & Shakers — People and Positions for July, Part III

WoodBine Senior Living Hires New CIO Maryland-based WoodBine Senior Living, LLC has announced that Daryl McCombs has joined the company as a partner and chief investment officer to lead its acquisition, finance and business development functions.  McCombs brings to the position more than 20 years and $2 billion of acquisition and finance experience within the… Read More »

Long Island CCRC Files Chapter 11 to Restructure $220 Million of Bond Debt

The Amsterdam at Harborside, a continuing care retirement community (CCRC) in Port Washington, N.Y., has filed a pre-negotiated chapter 11 bankruptcy petition to restructure an estimated $220 million in debt. Like many CCRCs that opened during the height of the recent recession, the community experienced significant financial stress upon opening due to the impact of… Read More »

Most Popular News of the Week: Old Nursing Home Models Require Face Lift To Compete

In case you missed them, here are the top headlines grabbing SHN readers’ attentions this week: Developers See Opportunity as Old Nursing Homes Become Obsolete — Shared living spaces and cafeteria-style dining are the nail in the coffin for decades-old post-acute care communities, senior living industry leaders agreed during a recent Senior Housing News Summit in… Read More »

Senior Living Leaders: New Product Must Emerge to Fill Care Gaps

Senior living providers must adapt to increasingly blurred lines between different senior housing products in order to stay competitive and be best positioned for tomorrow’s residents, industry experts agree. “Skilled nursing used to be long-term care — [but] no longer,” said Tom Grape, CEO of Benchmark Senior Living during the LINK LTC & Senior Living… Read More »

In the Pipeline: Senior Housing Construction Projects (7/24/14)

Construction: Planned Developers Near Construction on $30MM Michigan Senior Living Village Brighton, Mich.-based Unified Property Group is readying a groundbreaking next month on its latest endeavor, a $30 million “senior living village” in Pittsfield Township, Mich., reports MLive. The Pittsfield Township Planning Commission recently approved the final site plans presented by Unified Property Group, which call… Read More »

Indiana CCRC Leans on New Fee Model After Chapter 11 Bankruptcy Filing

An Indiana continuing care retirement community (CCRC) with $14 million of outstanding debt is leaning on Chapter 11 bankruptcy protection as well as a new fee model for independent living residents to help meet the community’s financial obligations. River Terrace Estates, a CCRC located in Bluffton, Ind., on Tuesday filed for Ch. 11 in the… Read More »

Developers See Opportunity as Old Nursing Homes Become Obsolete

The design elements for post-acute care facilities of the 1960s, such as shared rooms and cafeteria-style dining, have become dinosaurs of the industry. In their stead are upscale, hotel-style models that are redefining post-acute care communities, industry experts agree. “The transitional and long-term care facilities of 40 years ago are functionally obsolete,” said Zeke Turner,… Read More »

Capital Raise Launches $100 Million for China CCRC

A Hong Kong-based investor and a global capital raising firm have accumulated U.S. $100 million via insurance-based bonds for the development of a Chinese continuing care retirement community (CCRC). Assisted by Hong Kong’s First Equity Finance Company and IFA Capital, Chinese development company Jiangsu Suja Group Ltd. will raise the $100 million to construct a CCRC… Read More »

Senior Housing Investments & Acquisitions: Aviv REIT, Ensign Group, Capital Senior Living

Aviv REIT Announces $94 Million Acquisition Aviv REIT, Inc. (NYSE:AVIV) announced it has acquired two assisted living facilities and one skilled nursing facility for $82 million, in addition to two parcels of land for $12.2 million.  With the parcels of land, Aviv has gained the entitlements for construction of two new assisted living facilities and… Read More »

Most Popular News of the Week: Assisted Living Leads Senior Living Inventory Market

In case you missed them, here are the top headlines grabbing SHN readers’ attentions this week: Assisted Living Growth Rate Climbs to Highest Peak Yet — Assisted living’s inventory growth rate reached its highest level since 2007 in the second quarter, according to the latest data released by the National Investment Center for Seniors Housing &… Read More »