Hathaway Breaks Ground on 101 Units in Atlanta
Hathaway Construction Services, Inc. announced the start of construction on The Manor at Scott’s Crossing, a $13,000,000, 101 unit senior independent living community in Atlanta, Georgia. The project is owned by Prestwick Development Company, LLC and is located on a 5+/- acre site on the northwest side of Atlanta, Georgia. The project will consist of 101 affordable senior living units and is expected to be completed in the first quarter of 2012 and leasing will commence shortly thereafter.
Always Best Care Senior Services Expands to Canada
Always Best Care Senior Services recently disclosed that making expansion plans into Canada. With Canada’s senior population expected to double in size by growing to more than 9 million people by 2036, Always Best Care is expanding its quality home care and assisted living placement service to Canadians. The first area rights were awarded to Awnish Srivastava for the greater Toronto area. Over the past 17 years, Mr. Srivastava has held a variety of executive marketing positions with such organizations as Warner Bros., General Mills and The Pillsbury Company.
Emeritus Senior Living and Life Care Funding Group Partner to Provide Financing Options for Long Term Care
Emeritus Senior Living is partnering with Life Care Funding Group to educate seniors about the financing options available for covering long term care, including assisted living. Emeritus is actively working to raise awareness of the Assurance Benefit offered by Life Care Funding, which converts the death benefit of an active life insurance policy into a long term care benefit to help pay for the cost of long term care services. The Assurance Benefit plan is a unique option because there are no wait periods to qualify, no limitations, and no costs to apply or premium payments. Policy owners use their legal right to convert a life insurance policy to enroll in the benefit plan and are able to immediately direct payments to cover the costs of long term care.
Ensign Group, Inc. Acquires Renowned Utah Continuing Care Retirement Community
The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign group of skilled nursing, rehabilitative care services, hospice care and assisted living companies, has acquired CHRISTUS St. Joseph Villa, a continuing care retirement community located in Salt Lake City, Utah, and the CHRISTUS Marian Center, a behavioral health center operated within the St. Joseph Villa campus. St. Joseph Villa is a full-service senior care campus with 221 skilled nursing beds, 48 assisted living units and 60 independent living apartments. It also includes the Marian Center, the Salt Lake Valley’s premier long-term inpatient acute psychiatric program, with its 12 psychiatric beds. Founded in 1947 by the Sisters of Charity of the Incarnate Word, CHRISTUS St. Joseph Villa has long been a fixture in Utah’s senior care community.
"The transition is going even more smoothly than expected, thanks largely to the professionalism and dedication of the outstanding care staff assembled by CHRISTUS here at St. Joseph Villa," said Matt Church, who will serve as the CEO of the expansive continuing care campus.
Brookdale Expands Corporate Line of Credit to $230 Million
Brookdale Senior Living Inc. (NYSE: BKD) has entered into an agreement to increase the commitment under its credit facility from $200 million to $230 million. GE Capital, Healthcare Financial Services, acts as administrative agent, and Royal Bank of Canada, Bank of America, Mubadala GE Capital and PNC Bank now participate as lenders under the line of credit.
Bill Sheriff, Brookdale’s CEO, commented, "We are pleased that RBC and PNC have recently joined with the other lenders in our Line of Credit and that these five strong financial institutions have shown their support of Brookdale. This expansion of the credit line furthers our strategy of using positive cash flow to delever the Company’s balance sheet while simultaneously creating financial flexibility to pursue opportunities as they arise."