The number of health care companies that filed for Chapter 11 bankruptcy jumped to a record high in the second quarter of 2016—and the financial downfall of some senior living organizations played a part. “It’s one thing to say that the distress in the second quarter of 2016 is the highest it’s ever been, but these […]
Category: Finance & Development
(Rendering of The Veranda at Groveway, located in Roswell, Ga. — Photo courtesy of McShane Construction Company) Construction: Planned New $10 Million Senior Living Community Planned A new assisted living and memory care community plans to break ground in October in Bethalto, Ill. Cedarhurst Assisted Living and Memory Care will comprise 62,476 square feet and […]
Senior housing construction costs are nearing pre-recession levels and will likely continue to rise, despite the labor challenges also impacting the industry. That’s according to two new issue briefs published by the American Seniors Housing Association (ASHA) and Iowa-based national construction firm The Weitz Company. The tight labor market is becoming a major issue for […]
This week on Senior Housing News, our readers learned about the unrealistic salary expectations of new senior living workers, as well as the nation’s largest homebuilder taking advantage of the senior housing opportunity. Otherwise, readers followed along with our coverage of second quarter earnings results, including Brookdale Senior Living’s (NYSE: BKD) targeted plan to improve […]
As outside capital flows into the senior housing space, two partners seasoned in the industry are looking to seize on the opportunities by launching their own development company with a distinct approach to the process. Scottsdale Arizona-based Drive Development Partners was recently co-founded by Brendan Morrow and Michael Hass, a pair that have built over […]
(Rendering of The Harry and Jeanette Weinberg Campus, located in Bridgeport, Conn. — Photo courtesy of Perkins Eastman) Construction: Planned Omega Communities Plans New Senior Living Community A partnership between Greenbrier Development, Omega Communities and Eagle’s Landing First Baptist Church has sparked plans for a new senior living community in south Atlanta, Lake Vista. The community will […]
Global real estate giant Blackstone Real Estate has filed to create a $5 billion non-traded real estate investment trust (REIT) that will primarily invest in income-oriented real estate, potentially including senior living. The new REIT will be called Blackstone Real Estate Income Trust, Inc. and will be externally managed by its adviser BX REIT Advisors LLC, […]
Greystone Provides $49.4 Million in Freddie Mac Financing for Seniors Housing in California and Colorado Greystone, a real estate advisory, investment and lending firm, announced it provided $49.9 million in Freddie Mac loans to refinance two assisted living and memory care communities in Denver, Colorado, and Carmichael, California. Greystone Managing Directors Scott Kavel and Cary […]
Another well-known name in senior living now is linked to a high-profile community being developed in one of the nation’s most populous markets. Welltower Inc. (NYSE: HCN) has tapped Sunrise Senior Living to be the operator of the real estate investment trust’s (REIT) community being developed in midtown Manhattan. The project involves a 125,000-square-foot, 15-story […]
The nation’s biggest homebuilder has expanded its business to offer affordable age-restricted housing for adults who want to remain at home as they age. While the company is not overtly positioning itself as a competitor to senior living communities, the move signals another company seizing a business opportunity in helping people stay in single-family dwellings […]
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