New York City Housing officials, SKA Marin and Local Development of Crown Heights recently celebrated the grand opening of Crown Heights Apartments, an eight-story affordable housing development in Crown Heights, Brooklyn.  The complex offers 143 affordable rental units for low-income seniors and was constructed through HDC’s Low Income Affordable Market Place Program (“LAMP”).  Crown Heights [...]

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Enterprise Homes, a housing developer in the mid-Atlantic, recently held a topping off ceremony for the Greens at Libertry Road senior housing project.  The $15.6 million project will have 105 green, affordable apartments for seniors in Northwest Baltimore County. The four-story building will have 81 one-bedroom and 24 two-bedroom apartments and 12 units will have [...]

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Last week, HCP (NYSE:HCP) announced that it was going to offer 12 million shares for sale and subsequently increased the offering to a total of 13.5 million shares based upon strong investor demand.  The offering was priced last week at $33 per share and HCP’s closing price on Friday afternoon was $32.72 per share. Net [...]

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Courtesy of Reverse Mortgage Daily While members of the US Senate and House of Representatives meet to negotiate the final version of Wall Street reform legislation, Senators Claire McCaskill (D-MO) and Herb Kohl (D-WI) recently sent a letter to the members of the conference committee urging them to preserve language they feel will improve consumer [...]

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Brookdale Announces Refinancing Transaction Brookdale Senior Living Inc. (NYSE: BKD) recently announced that the Company has obtained a $117.0 million first mortgage loan from Berkadia Commerical Mortgage and Fannie Mae. The mortgage debt has a 10 year term and bears interest at a fixed rate of 5.98%. The Company simultaneously repaid $119.0 million of mortgage [...]

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Omega Healthcare Investors, Inc. (NYSE:OHI) announced last week that it closed on its option to purchase 63 long-term care facilities from affiliates of CapitalSource Inc. for $293 million in cash.  The option to purchase, previously announced in November of 2009, represents 6,607 available beds located in 19 states and are part of 30 in-place triple [...]

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The Illinois Housing Development Authority (IDHA) and Gundaker Commercial Group celebrated the opening of Wingate Manor, a state-funded affordable housing development for low-income seniors in Shiloh, Illinois.  Wingate Manor, a 48-unit project, is part of a two-phase, master-planned senior community spanning 172 acres and was named Green Affordable Multifamily Project of the Year by the [...]

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Cambridge Realty Capital Cambridge Realty Capital Companies recently announced the closing of a a $10.02 million FHA-Insured HUD LEAN mortgage for Villa Health Care, a 212-bed skilled nursing and assisted living facility in Sherman, Illinois.  The property has 99 skilled nursing and 113 assisted living beds and financed through HUD’s 232(a)7 – LEAN program.  

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Are you concerned about Fannie Mae’s and Freddie Mac’s continued commitment to serve the senior housing market in their current state of receivership?  If so, now is the time to speak up.  The Federal Housing Finance Agency (FHFA) has sent to the Federal Register a proposed rule implementing provisions of the Housing and Economic Recovery [...]

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Chartwell Seniors Housing Real Estate Investment Trust (CA:CSH.UN) announced that it completed the previously-announced acquisition from ING Real Estate Investment Management Australia PTY Limited and its affiliates ("ING") of the remaining 50% ownership interests in six retirement home properties located in the United States ("Meridian portfolio"). Chartwell expects to complete the previously-announced acquisition from ING [...]

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NHC Acquires Home Care National HealthCare Corporation (NYSE-Amex: NHC) (NYSE-Amex: NHC.PRA) recently announced that its affiliate has recently purchased the assets of Home Health of South Carolina, Inc., increasing the number of homecare offices from four to seven in the state and 36 offices throughout the south. The new locations are in Rock Hill, Summerville, [...]

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Sun Healthcare Group, Inc. (NASDAQ: SUNH) announced Monday that it intends to separate the company into two separate publicly traded companies.  The split will separate all of Sun’s operating subsidiaries and continue to use the Sun Healthcare name and brands as the real property portfolio will be spun off into a real estate investment trust [...]

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