Communities “Future-Proofing” With FiOS for Senior Care, Entertainment

“The nation’s most reliable network” can be found all over the United States, including in senior living communities like The Virginian, a continuing care retirement community in Fairfax, Va. that recently installed Verizon FiOS (Fiber Optic Service) TV, phone, and Internet along with implementing Healthsense technology. The combination of a wireless FIOS platform and Healthsense’s […]

Build Green to Save Green: The Lure of LEED in Senior Housing

A trend has sprouted among companies nationwide as more businesses seek eco-friendly development plans during early construction stages, and it’s spreading to senior living. For many developers, the decision to “go green” is based on the benefits of long-term financial savings and future returns on investments (ROI), according to the U.S. Green Building Council (USGBC).  […]

Fitch: No Impact to CCRC Ratings Expected from FASB Entrance Fee Refund Changes

Changes issued earlier this year by the Financial Accounting Standards Board (FASB) regarding refundable entrance fees for continuing care retirement communities (CCRCs) aren’t expected to impact community ratings, according to a new Fitch Ratings report, but consumer reassurance may be required as a result. The change has to do with whether income from refundable entrance fee […]

Troubled Senior Community Facing Lawsuits Over Inability to Refund Entrance Fees

An independent living community that’s part of a continuing care retirement community (CCRC) in Kansas is getting sued for its inability to refund some entrance fees, reports the Kansas City Star.  The Villas at Grace Gardens, an upscale retirement center in Leawood, Kans., is sponsored by Baptist Senior Ministries, Inc., a subsidiary of nonprofit organization […]

Offering Options for CCRC Entrance Fee Refunds: Savvy, or Not So Much?

With the economic downturn and housing market decline, more continuing care retirement communities (CCRCs) are offering alternative entrance fee refund options to help attract prospective residents, but while many say it’s good business to do so, not all have adopted this practice. There’s a clear trend toward communities offering 50% and even 0% refund options […]

“Ripple Effect” of Distressed CCRCs: Sector Under Increased Scrutiny

Although the number of continuing care retirement communities that have experienced severe financial distress in the past few years is small compared to the number that have remained stable, it’s piqued the curiosity—and concern—of potential consumers. There are almost 1,900 CCRCs in the U.S., according to LeadingAge, and since the recession began, only about 1% […]

CCRCs Positioning for the Future, Avoiding Pitfalls of Financial Distress

Defaults and bankruptcies by continuing care retirement communities (CCRCs) are the exception and not the norm in the senior living industry, but the ability to avoid financial pitfalls and adapt to consumer demand is crucial in attracting and reassuring prospective residents, executives agree. Only a small percentage of the industry’s 1,900 CCRCs—about 80% of which […]

Concordia Lutheran Ministries Buys Ohio CCRC from Receiver for $23 Million

Tampa, Fla.-based CLW Senior Housing recently represented a court-appointed receiver in the $23 million sale of an Ohio continuing care retirement community. Concordia of Ohio, a subsidiary of Concordia Lutheran Ministries, acquired Sumner on Ridgewood, a ‘Type C’ CCRC built in 2003, from Jeffrey T. Heintz of Brouse McDowell. The 64-acre property’s overall occupancy was at […]

Undeterred by Clare Bankruptcy, Franciscan Sisters Seek More Bond Financing [Update]

A spectacular $229 million bond default in 2011 by The Clare, a luxury senior living community  sponsored at the time by the Franciscan Sisters of Chicago Service Corporation, hasn’t deterred an affiliated Catholic senior living organization from seeking $160 million in tax-exempt bond financing. Like many other senior living providers, both non-profit and for-profit, Franciscan Communities […]

Brookdale Loses $12 Million in Q3 Despite Record Number of CCRC Sales

Brookdale Senior Living (NYSE:BKD) reported a net loss of $12 million, or $(0.10) per diluted common share, in the third quarter ended Sept. 30, 2012, despite the company’s entrance fee CCRCs producing a record number of independent living sales. “We were pleased with our overall performance in the third quarter,” said Bill Sheriff, Brookdale’s CEO, […]