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 [...]
Last week, Sunrise Senior Living (NYSE:SRZ) disclosed in a SEC filing that one of its wholly owned subsidiaries entered into a joint venture for the purchase of 29 senior living facilities valued at $630 million. When the transaction is complete, Sunrise will own 40% of the JV. Sunrise currently owns 10% of the current joint [...]
Morningside House Senior Living and Harrison Street Real Estate Capital of Chicago recently announced a $200 million joint venture agreement that will result in the immediate capitalization of six stabilized assisted living and memory care properties. The investment, made through Harrison Street Real Estate Partners III, LP, will provide recapitalization for six Morningside communities in [...]
The National Center for Assisted Living (NCAL) recently released results of its Performance Measurement Initiative illustrating that many assisted living providers are using a variety of methods to record the quality of care and services being delivered to residents. The Employee Vacancy, Retention, and Turnover (VRT) survey found that the overall retention rate for assisted [...]
Brookdale Senior Living (NYSE: BKD) announced its financial and operating results for the third quarter of 2010 that showed an increase in revenues of 10% compared to Q3 2009 and strong cash flow from facility operations of $59.7 million for the current quarter. However, it showed a loss of $16.9 million in Q3 2010 versus [...]
Last week, Ventas, Inc. (NYSE: VTR) announced that it executed an agreement to acquire the real estate assets of privately-owned Atria Senior Living Group for a total purchase price of $3.1 billion and will use 24.6 million shares of Ventas common stock, worth approximately $1.35 billion, $150 million in cash and the assumption or repayment [...]
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 [...]
