Construction: Planned Eastern Consolidated is marketing a 51.65-acre fully entitled development site in Brookhaven Long Island for $15 million, reports the National Real Estate Investor. The site includes approved plans for constructing a 408-unit senior housing project, Heritage Square Housing Development. The development plans feature a 392,400-square-foot residential building and a 20,000-square-foot building earmarked for [...]
Healthcare real estate investment trust Health Care REIT (NYSE:HCN) recently released its first quarter earnings report and held an earnings call discussing the quarter; highlights include a focus on its partnership with Genesis HealthCare; increasing value through private pay portfolios; and growing a post-acute platform. Back in February 2011, Health Care REIT acquired most of [...]
LTC Properties, Inc. (NYSE:LTC), a real estate investment trust that primarily invests in long-term care facilities, recently acquired a vacant 3.16 acre plot of land in the Denver area of Colorado for $1.9 million, with plans to build a senior care community. Simultaneous with the land purchase, LTC entered into a lease agreement and development [...]
Brookdale Senior Living is repositioning many of its units to meet current demand metrics, and it’s trending toward higher acuity, according to the senior living operator’s first quarter earnings call. “The product that is coming into the investment profile tends to be a higher acuity product. There’s a fair concentration there of adding assisted living where [...]
Where are seniors going after they retire? It’s one question research organization Esri set out to answer in a recent study of America’s changing demographics. In its exploration of real estate and housing preferences for the 55-plus population, and with the help of U.S. Census data, Esri narrowed down the five counties with the highest [...]
Given that the 55+ housing market represents the “largest growing group of buyers” the National Association of Home Builders has ever seen in that age category, paired with the organization naming multigenerational housing as a top trend in 2012, it remains to be seen how this will be reflected in upcoming construction projects. Senior housing [...]
Builders have tremendous opportunity in the 55+ housing market, which is currently the “largest growing group of buyers…ever seen” in that age category, according to the National Association of Home Builders. While builder confidence surveys indicate that no sectors in the 55+ housing market are performing “well,” per se, all are on an upward trend, and [...]
Lifecare Properties, LLC, a real estate development and operating company, recently announced it has acquired property in Arlington, Tex. on which it plans to build a 67-unit assisted living facility. The 5.2 acre site is located at 7708 S. Cooper Street and was bought from Anwar A Lalani and Sultana A. Lalani, trustees of Lalani [...]
On the Record: Steven Insoft, CFO & COO of Aviv REIT
While publicly traded healthcare real estate investment trusts (REITs) like HCP, Inc., Ventas, Inc., and Health Care REIT Inc. grab a lot of headlines, privately traded ones like Aviv REIT often seem to fly under the radar. But as Senior Housing News recently discovered after speaking with Aviv’s Steven Insoft, who holds dual roles of [...]
On the Record: Majd Alwan, Executive Director of LeadingAge CAST
With technological advancements tied so closely to the future of senior care, Senior Housing News recently interviewed Majd Alwan, Ph.D., the Senior Vice President of Technology and Executive Director of the Center for Aging Services Technologies (CAST) at LeadingAge, an association of not-for-profit, long-term care providers of senior services. At any given time, CAST is [...]
On the Record: Keith Reuben, EVP of Commercial & Specialty Lending at Capital One Bank
In the past 30 years, Capital One has transformed itself from “just” a credit card company into one of the U.S.’s top banks. And as part of its lending arm, Capital One Bank says it has a significant focus on its commercial and specialty finance business, which encompasses senior housing and care lending. Last Fall, [...]
On the Record: Adam Kane, SVP of Corporate Affairs at Erickson Living
In 2009, the company known as Erickson Retirement Communities, headquartered in Baltimore, Md., filed for Chapter 11 bankruptcy protection. In December of that year, Hanover, Md.-based Redwood Capital Investments LLC bought most of the bankrupt company’s assets for $365 million, out of which emerged Erickson Living. Senior Housing News recently caught up with Adam Kane, [...]
On the Record: David Reis, CEO of Senior Care Development
After seeing that Senior Care Development, LLC had placed a stalking-horse bid on the bankrupt Clare at Water Tower, in Chicago’s Gold Coast, Senior Housing News tracked down its chief executive officer David Reis for an exclusive interview. Reis has extensive experience in senior living development, and specializes in ground-up development of large-scale continuing care [...]
