Ventas recently reported its net income applicable to common shares for the quarter ended September 30, 2008 was $64.7 million, or $0.46 per diluted common share. These results were substantially better than last year but included a previously recorded contingent liability reversal, offset in part by the valuation allowance on real estate mortgage loans receivable […]
Category: Senior Housing
MetLife’s Mature Market Institute releases its annual survey of Nursing Home and Assisted Living costs. The Average rates for a private room in a nursing home remained essentially unchanged nationally from 2007, while semi-private rates increased 1.1%, from $189 daily or $68,985 annually in 2007, to $191 daily or $69,715 annually in 2008, according to […]
Capital Senior Living Corporation (NYSE:CSU) reported earning of $1.2 million dollars of net income for the fiscal third quarter. Operating expenses increased by $1.0 million or 4 percent from the third quarter of 2007. As a percentage of resident and healthcare revenues, operating expenses were 63.2 percent. Food costs in the third quarter of 2008 […]
Serena Senior Care, a leading Assisted Living and health management services company in Baja California Mexico, announces new services that allow American retirees living in Baja to fully enjoy their retirement, giving them peace of mind and quality of life. The company opened its doors in spring of this year offering high quality assisted living, […]
Oklahoma ABC affiliate KOCO ran a story recently on the fact that the state of Oklahoma is getting closer to building the nation’s first long-term care facility exclusively for sex offenders. The story quotes a non-profit organization that states approximately 30 sex offenders are living with other residents causing concern amongst residents and their families. […]
Last week, Senior Housing Properties Trust announced its third quarter earnings showing that net income was $29.1 million, or $0.25 per share, for the quarter ended September 30, 2008, compared to net income of $20.6 million, or $0.25 per share, for the quarter ended September 30, 2007. The results include the gain on sale of […]
The National Academy of Elder Law Attorneys (NAELA) and SNAPforSeniors® recently announced the launch of the NAELA Senior Housing Locator, an online navigational tool with listings for licensed senior housing communities in the country. This tool will now have access to the NAELA Senior Housing Locator through a link on www.naela.org . The online tool […]
Forbes Magazine and CFO.com both recently ran stories that painted a bleak picture for the outlook of Sunrise Senior Living (SRZ). Sunrise recently reported a $68.7 million third-quarter loss and that it does not expect to meet certain financial covenants before they come due at the end of 2008. The company is trying to refinance […]
Empire State Development recently announced that the former elementary school known as Academy Place in the Village of Gowanda will be converted into a mixed-use commercial and residential structure. With a total of $10.2 million being invested in this restoration project, Academy Place will offer the Gowanda community much-needed affordable senior housing, a day care […]
Oregon Business News recently printed an emailed letter from Sunwest’s CEO, Jon Harder, to U.S. Senator Gordon Smith’s office that pleaded for assistance. According to the article, Harder’s lawyer confirmed its authenticity but the tone of the letter paints a shocking picture of the challenges it faces with its lenders and its operations. If Mr. […]
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