India’s senior population is expected to grow 250% by 2050. This surge coupled with the country’s underdeveloped senior housing industry offers plentiful opportunities for providers looking to offer housing and related services for India’s older adults. The global aging phenomenon is opening doors of opportunity for the American senior living industry in multiple countries across [...]
There’s an impending housing crisis in the UK, according to one British retirement home provider who recently wrote to members of Parliament to support a National Planning Policy Framework draft proposing to make vital changes to the planning system and address the senior housing crisis. The letter details McCarthy & Stone’s first-hand experience with how the [...]
The Office for Budget Responsibility released a report this week that showed the UK may need additional austerity measures to combat the rising costs of healthcare and pensions for its 65+ population. The number of individuals over 65 is expected to account for nearly 26% of the country’s population by 2061 compared to 17% today. [...]
Right at Home International, a franchise operator for senior home care and assistance expanded the Chinese market through a master franchise license agreement in Beijing, China. According to the company, it’s the first U.S. in home senior care franchise to move into China. “The potential for growth is tremendous,” according to Allen Hager, Right at Home [...]
A new Real Estate Investment Trust (REIT) is being launched by Nexus Healthcare in the United Kingdom to acquire property occupied by elderly and specialist care providers reports the Financial Times. Run by entrepreneur Harry Hyman, the company already manages Primary Health Properties, but plans to launch the new company with a five year plan [...]
The Blackstone Group is getting blasted by union representatives in the United Kingdom after one of its former investments, Southern Cross, finds itself in financial trouble reports the New York Times Dealbook. Southern Cross, which houses more than 31,000 elderly people, said this week that it would have to defer 30 percent of its rent [...]
CRSA, a developer and manager of senior living communities announced an agreement with Guangdong Oursjia Retirement Communities Services Company, Ltd. of the People’s Republic of China (Oursjia) to develop and manage senior living communities across China on Tuesday. By 2020, the percentage of the Chinese population over the age of 65 is estimated to be at [...]
Leisureworld Senior Care Corporation (TSX:LW) announced that it has agreed to acquire two luxury retirement residences for a total consideration of $94.8 million in Kingston and Kanata, Ontario. The two properties have a total of 294 suites and upon completion of the acquisition will rename the facilities to ‘The Royale’. The Royalton in Kanata, Ontario is [...]
The number of middle income households in the United Kingdom who face a severe squeeze on their income in retirement is significant and increasing according to a new report from Chatham House. Around 15 million UK households in the middle income group risk a reduction in their income of almost 60% from their pre-retirement income. [...]
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 [...]
