Last week the CEO of Sunwest Management filed for personal bankruptcy as part of an effort to restructure the company. The turnaround consulting firm, Hamstreet and Associates of Portland, Ore., took over Sunwest Management and filed the Chapter 11 bankruptcies last week for different entities affiliated with Sunwest Management. The most interesting part of this […]
Category: Senior Housing
A few weeks ago, the government rolled out a revised and simpler, “five star” quality rating system approach to how it evaluates nursing homes and provides a simpler search for families looking to do research on nursing homes. The Centers for Medicare & Medicaid Services (CMS) site, Nursing Home Compare, provides rating on nursing homes […]
Last month, the board of the New York State Housing Finance Agency (HFA) approved $10.3 million in financing for the construction of Birches at Chambers, a 67-unit affordable senior citizen housing development in the Town of Ulster in Ulster County. The Ulster approval was included in a total package of $64.2 million in funds approved […]
Will lenders look at senior housing projects that have only sold half of their inventory thus far half empty or half full in 2009? Crain’s Chicago Business ran an article about foreclosure proceedings on a north shore senior housing project that had sold approximately half its inventory. The article outlined the history of the project […]
Mirabella Seattle, a new Continuing Care Retirement Community (CCRC), recently opened ahead of schedule in the South Lake Union neighborhood of Seattle. Mirabella is a 12-story residential community for seniors age 62 and better who want to live in Independent Living apartments and penthouses with views of Seattle. There are also Assisted Living apartments that […]
Brookdale Senior Living Inc, (NYSE:BKD) announced on December 30th, 2008 after the markets closed that its Board of Directors has voted to suspend the Company’s quarterly cash dividend indefinitely. The company is looking to retain capital for financial flexibility. The company had been paying a quarterly dividend of 25 cents per share this year. “Given […]
Thank you for supporting and subscribing to Senior Housing News in 2008. It has been a tremendous year of growth for our readership and we’re excited for what 2009 has to bring to the senior housing industry and how we can communicate relevant stories and content to our readers. Please pass our site along to […]
Earlier this month, Steven D. Bell & Company, on behalf of Bell Fund II LLC, has recently purchased senior living communities in both Charlotte, N.C. and Charleston, S.C., bringing to 26 the number of senior living properties in the Bell Senior Living portfolio. For a combined cost of approximately $15 million, the Bell company has […]
Over the weekend, the San Francisco Chronicle provided a good article on how the credit crunch has impacted the market for tax credits and their use in financing various housing projects with a specific focus on California. The article entitled, Lack of tax-credit market hurts building trade, profiles a Napa Valley Senior Housing Project that […]
For those looking for blend a style of Japanese and California architecture and style for a retirement community, look no further. An Arleta, California assisted living facility, Nikkei Senior Gardens, is nearing completion and is marketing itself as a blend of east-west cultures by providing three nutritious Japanese and Western meals daily. The facility will […]