In case you missed it, here are the top five stories grabbing Senior Housing News readers this week:
Newcastle to Acquire 52 Holiday Retirement Properties for $1 Billion—The REIT, a Fortress-affiliate, will purchase the properties in a deal expected to close in December. The properties were 91% occupied on average, as of the third quarter.
Which Senior Living Communities Earned Top Ratings in 2013?—Online senior housing data hub Seniorhomes.com compiled data across many of the nation’s metros to find out which senior living communities received highest marks. Find out how your community stacks up.
Real Estate Developer Plans Massive, 161-Acre CCRC—Rising India, Inc., a real estate developer based in Tustin California, is planning the 3,000-unity community in Coachella Valley with development costs estimated around $300 million. The community will comprise independent, assisted living and memory care units.
NHI to Acquire 25 Holiday Retirement Communities for $491 Million—On the heels of the Newcastle announcement a day earlier National Heath Investors REIT said it would buy 25 Holiday properties with average occupancy at 89%.
Senior Housing Construction Boom Only Getting Started—A National Real Estate Investors report published this week shows not only are senior living developers building today, but they have plans to keep building into 2014 and beyond. Two thirds, or 67% of senior living survey respondents said they have new construction planned in the next six months.
Written by Elizabeth Ecker