The National Labor Relations Board issued a final rule last week that requires employers put notices on bulletin boards informing employees about their rights to unionize under federal law. Starting November 14, 2011, private sector employers whose workplaces fall under the National Labor Relations Act will be required to post the employee rights notice where [...]
Wisconsin Lutheran Child & Family Service (WLCFS) is selling the Wisconsin Lutheran Care Center to Platinum Health Care LLC for an undisclosed sum. “We will continue to grow and transition our Senior Services division to better reflect the needs of aging generations, while working to help seniors stay independent and healthy in their private or assisted living homes,” says Dan Degner, [...]
Sunrise Senior Living, Inc. (NYSE: SRZ) announced its fourth quarter and full year 2010 results last week that showed continued progress in its restructuring efforts but remains cautious about its future performance. The company’s fourth quarter net income was $50 million versus $10.4 million during the same quarter of 2009. The increase in the company’s [...]
Five Star Quality Care, Inc. (NYSE: FVE) released its its financial results for the quarter and year ended December 31, 2010 that showed fourth quarter revenues increasing 5.4% to $315.7 million from $299.5 million for the same period the previous year and income from continuing operations for the fourth quarter of 2010 was $6.4 million [...]
Emeritus Corporation (NYSE: ESC) has announced the signing of an agreement with Columbia Pacific Advisors to manage an assisted living and memory care community. The agreement is the third between the two companies since 2010 and the agreements cover three communities in three states with over 260 units. Emeritus will manage the three communities for [...]
Ecumen has announced that it plans to develop senior housing in a new multi-generational community in the Memphis, Tennessee area with Edward Rose. The plan is to develop and manage 140 senior housing apartments in the new community project known as Irene Woods. The project will have 80 units designated as independent living, 30 as [...]
Senior Lifestyle Corporation recently announced the expansion of its services with the addition of new management contracts for 11 retirement communities in North and South Carolina, Tennessee and Texas. The new additions bring the number of units under management to approximately 10,000 which are a combination of independent, assisted living and memory care units. Of [...]
If you haven’t noticed, Senior Housing News has updated the job posting section that incorporates more job postings than ever before and from a wider range of employers in the senior housing and senior living industries. The listings incorporate Simply Hired’s network of job sites and aggregates all of those jobs in one place. What [...]
Last month, community leaders and project participants celebrated the ground breaking of a new Alzheimer’s and Memory Care Assisted Living Community in Tulsa, Oklahoma. Autumn Leaves of Tulsa, developed by Dallas-based The LaSalle Group, will have 38 units and accommodate approximately 46 residents. The project is the LaSalle Group’s fourth entry in the regional area [...]
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 [...]
