Seattle-based senior housing management company Leisure Care recently took over the management contract of a five-property portfolio of Texas independent living communities, marking a 17% growth for the company’s management portfolio. The contract is for all of The Conservatory Senior Living’s retirement communities, and includes 1,053 apartments. Leisure Care now manages more than $1.5 billion [...]
Commercial real estate brokerage Healthcare Realty Brokerage, headquartered in Clayton, Mo., recently represented a Midwest regional operator to lease the company’s Kentucky skilled nursing facility to Advocat Inc., a publicly traded skilled nursing provider based in Brentwood, Tenn. The lease for Arbor Place of Clinton has an initial 10-year term with two five-year renewal options, [...]
Nursing home operator Five Star Quality Care, Inc. (NYSE:FVE) saw its net income plunge 91% in the first quarter ended March 31, 2012 to $369,000, compared to $4.1 million in the same period last year, due in part to Medicare reimbursement cuts that went into effect in October 2011. This represents a net income per [...]
Ventas, Inc. (NYSE:VTR) announced on Feb. 23 that it’s looking for new tenants for 64 healthcare assets that are currently leased to Kindred Healthcare, Inc. (NYSE:KND) under four master leases, after the healthcare services company opted not to renew the majority of its leases with the REIT. “We believe these assets will be attractive to [...]
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 [...]
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 [...]
