While real estate investment trusts haven’t typically invested too much into continuing care retirement communities, HCP says it’s been looking into the sector for years, and the recent joint venture with Brookdale came at the right time. “We’ve looked at the asset class for several years,” said Paul Gallagher, chief investment officer and executive vice […]
Category: CCRCs
Construction: Planned $10 Million Assisted Living Community Planned for Jackson, Michigan Lloyd Ganton Retirement Centers, a Michigan-based senior living provider, will invest at least $10 million into a new living center that will house about 190 seniors in Jackson, MI, reports MLive. Project plans call for independent and assisted living units, as well as a […]
From investing in a new senior housing sub-sector to exploring opportunities abroad, HCP logged a solid first quarter and thumbed its nose at industry speculation that REITs’ value has been diminished through the planned Brookdale-Emeritus merger. Perhaps the highlight of the quarter was HCP’s agreement with Brookdale Senior Living to form a new, $1.2 billion […]
In case you missed it… here are the top five headlines grabbing SHN readers’ attention this week. Dished: Grind Dining Redefines Menus in Memory Care—In SHN’s very own Dished series, we covered what one food-focused duo is doing to improve menus—and the overall dining experience—in memory care. Meet Grind Dining. Senior Living Developers Find Big […]
Construction: Planned Pacifica Senior Living to Convert Florida Hotel into Assisted Living Pacifica Senior Living will soon convert a Comfort Suites hotel in St. Augustine, Florida into a 125-unit assisted living community, reports The St. Augustine Record. Pacifica was granted a preliminary approval for the project back in December from the St. Johns County Growth Management […]
After a relatively flat market for continuing care retirement community finance following the housing crash and subsequent recession, financing activity is coming back—and then some—in even the hardest hit areas like Florida. SantaFe Senior Living, a not-for-profit affiliate of SantaFe Healthcare, Inc. saw the product of the downturn firsthand when it brought a strategic repositioning […]
Brookdale Senior Living (NYSE:BKD) will soon become a driving force in the industry for continuing care retirement communities (CCRCs) with the capital backing of new joint venture partner HCP, Inc. (NYSE:HCP), analysts say. The companies announced Wednesday they would enter a joint venture agreement to own and operate a $1.2 billion portfolio, that at its […]
Construction: Planned Kendal at Ithaca Plans $39 Million Expansion and Renovation Project Kendal at Ithaca, a senior living community in New York, recently announced plans for a $39 million expansion that will include renovations to the community’s dining, wellness and fitness programs, among other areas, reports Ithaca.com. The 105-acre campus is currently awaiting final approval […]
A Florida continuing care retirement community has emerged from Chapter 11 bankruptcy after successfully restructuring about $62 million of debt. The Jacksonville-area CCRC, sponsored by not-for-profit organization Life Care St. Johns d/b/a Glenmoor, entered a formal restructuring process in early July 2013, with its plan receiving near-unanimous approval by all parties involved. At the time […]
Construction: Planned Validus Senior Living to Break Ground on New Florida Assisted Living Project Tampa, Florida provider Validus Senior Living will team with a local developer to create a combined assisted living and memory care community that the company says will feature innovative programming and life-enhancing technology. Validus anticipates breaking ground on the new InspiredLiving […]
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