Senior Housing News will be observing the Thanksgiving holiday this Thursday and Friday, but we will return to our regular posting schedule on Nov. 30. In the meantime, SHN would like to wish our readers a safe and enjoyable Thanksgiving.
For now, here are a few of the recent happenings in the senior housing sector.
Senior Living Veteran Charged with $190 Million Investment Scam—Christopher Brogdon, president and director of Global Healthcare REIT, stands accused of defrauding investors in senior care properties. According to the U.S. Securities and Exchange Commission, Brogdon has raised $190 million from investors through municipal bond and private placement offerings since 1992—and the money was being used to support Brogdon’s other businesses and his wife’s lavish lifestyle.
AR Capital Halts Fundraising for Senior Housing REIT—One of the largest sponsors of non-traded REITs has announced it will suspend new capital fundraising by the end of the year. The company, AR Capital, has placed the blame on uncertain regulatory changes for non-traded REITs, but is also embroiled in its own legal troubles.
Brookdale Cuts Costs, Hospitalizations with Checklist Tool—Brookdale Senior Living has achieved cost savings and improved resident outcomes by using a modified version of a free, well-known program designed for skilled nursing facilities. At assisted living centers that implemented INTERACT, results included reductions in the mean number of hospitalizations, 30-day readmissions and emergency department trips.
Spreading Holiday Cheer
After receiving a grant from AMCOR, Evangelical Homes of Michigan (EHM) decided to use the funding to pack and distribute free meals to 20 Meals on Wheels homebound seniors. Volunteers from EHM and AMCOR packed and delivered the free meals today, with additional plans to do so over Christmas.
Pictured below are some of the volunteers from today’s event. Thanks for spreading holiday cheer!
Written by Mary Kate Nelson