For further reading, click on the links below for news from around the web related to the senior housing industry.
–Skilled nursing home Centralia Manor, located in Centralia, Ill., recently obtained refinancing through a $8.6 million U.S. Department of Housing and Urban Development (HUD) Lean Loan arranged by Cambridge Reality Capital Companies.
—Red Mortgage Capital, LLC, the mortgage banking arm of RED CAPITAL GROUP, recently refinanced three non-recourse Federal Housing Administration-insured loans for a total of $13,717,500 for three different Indiana senior housing communities.
–Equity LifeStyle Properties, Inc. (NYSE:ELS) recently closed on $100 million of secured financing, secured by 10 of the corporation’s manufactured home communities and two RV resorts. ELS is in the process of completing the acquisition of a 76-property portfolio, 51 of which have already been closed on. The recent financing is expected to be used to close on the remaining 25 acquisitions, and ELS plans to get an additional $125 million of secured financing in the next 60 days for further funding of the acquisition portfolio.
–Brookdale Senior Living (NYSE:BKD) received a ratings downgrade to “Neutral,” down from “Buy,” from Goldman Sachs, which cited a “lack of catalysts.”
–Sunrise Senior Living (NYSE:SRZ) has launched a blog geared toward seniors and senior caregivers that’s meant to provide online resources consisting of relevant news articles, tips, advice, and other senior living news. The blog is updated daily, and article topics include Alzheimer’s and memory care, finance and planning, and senior living options.