Recently, owners of continuing care retirement communities (CCRCs) have been spending more money than usual to expand and keep their existing communities looking fresh. In fact, capital spending for CCRCs in the United States has reached its highest level since the Great Recession, according to a new report from Fitch Ratings. Median capital spending for CCRCs […]
Category: Finance & Development
A seven-property, assisted living and memory care portfolio has been acquired for $186.25 million by an affiliate of health care real estate investment trust (REIT) HCP Inc. (NYSE: HCP). Chicago-based Senior Lifestyle Corp., the eighth-largest provider in the nation, will take over operations. Senior Lifestyle operates senior living communities in 27 states and offers independent living, […]
(Photo of The Georgian Lakeside Assisted Living and Memory Care, located in Roswell, Georgia —Photo courtesy of KTGY Architecture + Planning) Construction: Planned Updates to Wisconsin Senior Living Community Planned Located in Sun Prairie, Wisconsin, Tallgrass Senior Living (formerly KindredHearts) is planning to start a $2.5 million renovation to the community, if the plans are […]
Grandbridge Facilitates Funding of $125 Million Seniors Housing Portfolio Grandbridge Real Estate Capital’s Seniors Housing and Healthcare Finance Group recently facilitated the purchase of a $125 million seniors housing portfolio secured by four independent living seniors housing communities in four states. Funding for the assumption and supplemental loans was funded via Fannie Mae’s DUS® Seniors […]
When you think of a Howard Johnson hotel, what comes to mind? Likely not a bustling home to more than 100 seniors. Well, that’s the vision for The Grand at Twin Lakes, a newly opened independent living community in Palatine, Illinois. The building was originally constructed in 1968 and has taken on many forms over […]
The U.S. Department of Housing and Urban Development’s (HUD) Lean mortgage insurance program for senior housing may have finally hit a turning point after experiencing a few years of declining loan volumes. During the fiscal year ended Sept. 30, 2016, senior housing loan volume from the federal agency actually rose for the first time in […]
A popular immigration program that helps finance senior housing projects was recently extended, but the means of the extension have been called into question—and one group even has filed a lawsuit asking for the program to be declared dead. Meanwhile, some experts on the program are trying to calm the fears of developers relying on it […]
A shareholder that has been putting public pressure on Five Star Senior Living (Nasdaq: FVE) to sell off assets now is seeking a larger stake in the company. Based in Newton, Massachusetts, Five Star is one of the largest senior living providers in the nation. Nearly 7% of outstanding Five Star shares are held by […]
Photo of The Sheridan and Creve Coeur, located in Creve Coeur, Mo.— Photo courtesy of Senior Lifestyle Corporation Construction: Planned Land Purchased for Senior Community, Calif. Carlton Senior Living based in Concord, Calif. has acquired 3.68 acres of land in Santa Rosa, Calif. for its newest senior housing community. It is anticipated to cost over […]
Investors are starting to increase activity in the senior housing space and are eyeing independent living in particular, but they appear to be less inclined to take on risk than in the past. “We have these outside challenges, such as the election, Brexit, the Chinese economy, and I think people are just being a little […]