On June 1, 2009, Nationwide Health Properties, Inc. (the “Company”) entered into an amendment to the Contribution Agreement (the “Amendment”) between NHP and Pacific Medical Buildings LLC, (“Pac Med”), and certain of its affiliates, that provides NHP/PMB with a right of first offer with respect to four of the six properties that were eliminated from […]

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Brookdale Senior Living (the Company) disclosed earlier this week in conjunction with its secondary public offering that the company entered into the First Amendment to the Second Amended and Restated Credit Agreement (the “First Amendment”), where the maximum revolving loans that can be outstanding at any time under the Second Amended and Restated Credit Agreement […]

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Cambridge Realty Capital Companies recently announced that it completed its first refinance using HUD’s new Lean funding process for the 83-bed (58 skilled and 25 personal care beds) Beaver Dam Nursing & Rehab Center in Beaver Dam, Kentucky.  Cambridge Chairman Jeffrey A. Davis said a $4.2 million FHA-insured loan was arranged for the owner and […]

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As the world of finance continues to sputter, another area that is experiencing the “hurry up and wait” feeling is funding for not-for-profit projects.  A reader sent a story/link to the Center For Civil Society Studies at the Johns Hopkins Institute for Policy Studies that examines stalled projects from non-profits that contribute infrastructure services to […]

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In one of the better examples of how the credit crisis is affecting both senior housing developers and municipalities, the News Herald in Burke County, North Carolina ran an article recently detailing Morgantown’s repurchase of land from Steven D. Bell & Company.  According to the article, the 6.8 acre parcel was sold in 2006 for […]

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Brookdale Senior Living Inc. (NYSE: BKD) announced today that it plans to raise $150 million in a public offering of its common stock. Brookdale intends to use the net proceeds from the offering to repay the $125 million of indebtedness that is currently outstanding under its credit agreement, and the remainder for working capital and […]

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Australian based real estate investor, the GPT Group, is feeling the effects of the strain of the global housing & credit market when it showed a $3 billion dollar loss for 2008.  This is a different take from when GPT acquired and interest in Benchmark Assisted Living and a portfolio of New England assisted […]

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TrinityCare Senior Living, Inc. (OTC Bulletin Board: TCSR) ("TrinityCare" or the "Company"), which develops, manages and owns faith-based senior living facilities, announced its operating results for the first quarter of 2009 last week that showed that for the three months ended March 31, 2009, total revenues rose approximately 19% to $1,547,001, compared with revenues of […]

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SEASONS at Compton, an 84-unit affordable rental community that blends limited-income seniors, adults with developmental disabilities, and seniors who care for dependents with developmentally disabilities, was recently awarded a $350,000 grant from the Weingart Foundation and a Gold Award from the National Association of Home Builders (NAHB) 50+ Housing Council.  LINC Housing Corporation, a Long […]

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Capital Senior Living Corporation (NYSE:CSU), one of the country’s largest operators of senior living communities, announced operating results for the first quarter of 2009 a few weeks ago that show the company is facing broad challenges ranging from slowing revenue growth from a a lack of new projects to higher taxes as a result […]

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The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign group of skilled nursing, rehabilitative care services and assisted living companies, reported record results earlier this month for the first quarter of fiscal year 2009.  The company reported total revenue of $130.3 million, a 14% increase from the same period in 2008 and […]

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The Alaska Housing Finance corporation (AHFC) announced that the AHFC board Tuesday approved loans totaling $1.5 million for the project known as Eklutna Estates Senior Housing that consists of a four-story, fifty-nine new units of affordable senior housing jn Anchorage.  The housing project will be located on Centennial Circle, approximately 3-1/2 miles northeast of the […]

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