Ventas, Inc. (NYSE: VTR) released its results for first quarter 2010 that showed earnings fell to $52.6 million from $74.2 million a year earlier. Normalized Funds From Operations (“FFO”) for the quarter ended March 31, 2010 increased 9.9 percent to $105.2 million, from $95.7 million for the comparable 2009 period.  Average occupancy rates increased to [...]

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Alden Gardens of Bloomingdale, Illinois recently celebrated its official grand opening  with Harris, the Illinois Housing Development Authority (IHDA), National Equity Fund, other project participants and local elected officials more than a year after breaking ground.  The supportive living community for seniors will provide housing for over 80 seniors who are in need of an [...]

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Capital Senior Living Corporation (CSU) announced earlier this week that Midwest Portfolio Holdings, LP ("Midwest I"), a joint venture in which CSU held an 11 percent partnership interest, has sold five senior living communities to Health Care REIT, Inc. Upon closing the sale, the CSU leased the communities from HCN.  Capital Senior Living previously managed [...]

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On Friday, the attorneys for Erickson Retirement Communities LLC and its affiliated debtors announced that it has emerged from bankruptcy after the US Bankruptcy Court for the Northern District of Texas confirmed the debtors’ plan of reorganization and sale to Redwood Capital Investments LLC.  The exit from Chapter 11 culminated with Redwood Capital agreeing to [...]

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Skilled Healthcare Group, Inc. (NYSE: SKH) announced this week that it has entered into a $360 million term loan and a $100 million revolving credit facility that replace the senior secured term loan and revolving credit facility that were set to mature in June 2012. The new revolving credit facility was undrawn at closing.

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Ambling Development Partners (ADP) recently announced it will begin construction on a new residential development in Union City. ADP’s new 146,000 SF community, known as Woodbridge at Parkway Village, is situated on 6.67 acres and features 150 units.  The project, which consists of 120 Project Based Rental Assistance units and 30 Low Income units, is [...]

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The Board of Directors for Alaska Housing Finance Corporation recently announced that it approved an $846,000 mortgage loan to Lumen Park Associates for a 20-unit low- to moderate-income independent senior housing project to be located in South Anchorage, Alaska.  The facility will consist of a three-story building comprised of eight one-bedroom apartments and a dozen [...]

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Lancaster Pollard recently announced that it has closed on the first use of Federal Home Loan Bank credit enhancement by an Ohio health care provider. The transaction is only the fifth non-housing use of the enhancement by the Federal Home Loan Bank of Cincinnati, two of which have been health care projects.  The 80 units [...]

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Senior Quality Lifestyles Corporation (SQLC), a Texas-based nonprofit sponsor of senior living communities, announced that financing was recently completed for its latest project, Mirador.  Ziegler Capital Markets served as bond underwriter of the $79 million financing for the the 17-acre campus scheduled to open in 2011.  Construction is underway for the Corpus Christi, Texas gated [...]

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AdCare Health Systems, Inc. (NYSE Amex: ADK), an Ohio-based long-term care, home care and management company, recently announced it has executed a definitive purchase agreement for two privately-held nursing homes in Alabama for $18.5 million.  This acquisition follows the announcement of AdCare’s private placement offering in January 2010 to fund its growth initiatives.  The facilities [...]

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Lutheran Homes Society’s Covenant Harbor senior housing community announced the completion of construction on the second phase of new independent living apartments in Oak Harbor, Ohio.  The 24 new apartments feature one bedroom, a full kitchen, bathroom and living room. All apartments are designed for aging in place and are wheelchair accessible. An on-site service [...]

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National Health Investors, Inc.(NYSE:NHI) announced new investments totaling $7.2 million that include a purchase/leaseback of a 24-unit assisted living and memory care facility in Minnesota with Suite Living Senior Specialty Services (formerly known as Comforts of Home) for $4.2 million and the origination of a $3.0 million second mortgage secured by interests in three skilled [...]

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