It’s getting harder for men to find a nursing home bed compared to women, according to a post on the New York Times’ The New Old Age blog, because the female census so heavily outweighs the number of male residents and skews roommate logistics. Nursing homes are heavily female, like the elderly population itself. A [...]
Healthcare Transactions Group, Inc., based in Baltimore, Md., announced that it closed the sale of an Illinois long-term care facility portfolio on Dec. 30, 2011. The portfolio includes eight skilled nursing facilities and one assisted living facility, located mainly in the greater Chicagoland area and in Central Illinois, for a total of 1,540 beds. The [...]
The nation is gearing up for President Obama’s final State of the Union address in his current presidential term, but the American Health Care Association (AHCA) announced today that there are plenty of topics within long-term care that should also be addressed. “Our profession has made great strides, yet we are struggling to meet growing [...]
Most seniors cannot afford to pay for long-term care on their own, and it is the nation’s middle class that can “fall through the cracks,” when it comes to long-term care, the Chicago Tribune reported Thursday. As many seniors see insurance running out, experts advise saving sooner and planning for long term care at a [...]
Love Funding has secured $8.06 million in Federal Housing Administration funding for the refinancing of a New Jersey assisted living community. A 120-bed community in Toms River, New Jersey, Magnolia Gardens will receive the funding through the Department of Housing and Urban Development’s (HUD) 232/223(a)(7) loan program. The program will allow for the property owner [...]
Even though many Americans are aware they will likely need long-term care down the road, many are dragging their feet when it comes to actually preparing for their future health requirements, shows Genworth’s 2011 Financial Reality Check Study. Circumstances that triggered survey respondents to looking into buying a long-term care policy include knowing someone who experienced [...]
The Community Living Assistance Services and Supports Program, known as the CLASS Act, is down after being suspended last month, and now the GOP is kicking it by trying to permanently get rid of the program. On Tuesday, Nov. 15, the House Energy and Commerce Subcommittee on Health approved H.R. 1173, the Fiscal Responsibility and [...]
Many are aware of the costs of long-term care (LTC) and the possibility of their future LTC needs, but few are actively saving, says a new Northwestern Mutual study. Although 77% of Americans acknowledge the increasing need for LTC planning, nearly half, at 45%, say they’re “not sure” how they plan to address future LTC needs, [...]
Medicaid finances 43% of all long-term care spending including some associated with independent living, a Kaiser Family Foundation report finds. Although the population who rely on long-term care are diverse and comprise only 6% of the total Medicaid population in 2007, they accounted for nearly half of total Medicaid spending that year, the findings state. [...]
Are Private Equity Firms the Next Big Investor in Senior Housing?
Most will agree that 2011 was the year of the REITs, with healthcare real estate investment trusts going on a $20 billion spending spree, writes the National Real Estate Investor, but in 2012, private equity firms could be the “next big investors in seniors housing.” “Private equity will be active this coming year in seniors [...]
Healthcare M&A Spending Swells 11% in 2011 to $227 Billion
Last year saw $227.4 billion worth of healthcare merger, acquisition, and takeover activity, representing an 11% increase from the $205.6 billion spend in 2010, according to Irving Levin Associates, Inc. In terms of financing dollars, 2011 was the fourth-largest year of the past decade, although the actual number of deals announced in the year decreased [...]
Challenges and Prospects in Repurposing Old Buildings for Assisted Living
When various types of buildings end up vacant and in disuse, sometimes the next logical step is to repurpose them for senior housing, especially as the nation’s senior demographic grows at a rapid pace. Old hospitals, hotels, and schools are probably the three most common types of buildings that can be converted into an assisted [...]
Financing Senior Care Renovation: Less Risky Alternative to New Construction?
New construction starts remain significantly below peak 2007 levels, according to data from the National Investment Center for the Seniors Housing & Care Industry, and with financing largely unavailable for ground-up construction, is renovation or rehabilitation of senior care facilities a less-risky alternative for lenders? With nursing homes across the nation an average of nearly four [...]
Recent Senior Housing Finance Activity: Love, Ziegler, KeyBank
Love Funding Secures a $4.6 Million Loan Refinance for Illinois ALF Love Funding announced on Jan. 3 that it closed a $4.6 million refinancing through the Department of Housing and Urban Development’s 232/223(f) loan program for an assisted living and memory care center located in Milan, Illinois. Avonlea Cottage of Quad Cities is a 46-unit [...]
