Carol Galante, current acting Federal Housing Administration commissioner, made it one step closer Tuesday to holding a permanent spot in FHA’s chief position. A Senate committee voted Tuesday in favor of making Carol Galante’s position permanent, following her nomination from President Obama in October. The decision now goes to a full Senate vote. The Senate […]
Grubb & Ellis Healthcare REIT II announced Wednesday that it has agreed to acquire eight medical office buildings for an aggregate total of $112 million. Through two separate agreements, the acquisitions of the eight properties will total roughly 451,000 square feet across seven states. The healthcare real estate investment trust (REIT) now has more than […]
Most seniors cannot afford to pay for long-term care on their own, and it is the nation’s middle class that can “fall through the cracks,” when it comes to long-term care, the Chicago Tribune reported Thursday. As many seniors see insurance running out, experts advise saving sooner and planning for long term care at a […]
In Ohio, job cuts are running deep as a result of recent cuts to Medicare reimbursement rates and state cuts that have gone into effect this year. The job losses amount to more than one third in skilled nursing facilities, with potentially more pain on the way, says a study conducted by two senior living […]
A new senior housing operating company, Capital Health Holdings, has emerged from Akard Street Partners, the investment partnership announced Wednesday. The new entity will acquire and selectively develop private pay senior housing assets with a focus on assisted living and memory care facilities, Akard Street Partners said. “Due to an aging population, the healthcare industry […]
LIG Assets, through a non-wholly owned subsidiary, World SeniorCare Services, Inc., announced this week that it has entered the senior care industry with plans to grow. The new subsidiary has entered into a contract to purchase all lots in a 13-plus acre subdivision in Burleson, Texas, to be created specifically for senior care living. The […]
After missing its most recent debt-service payments and failing to reach an agreement with bondholders, an Ohio continuing care retirement community (CCRC) filed for Chapter 11 bankruptcy protection in late November, marking the second bankruptcy filing in the course of a month for the Franciscan Sisters of Chicago. Stepping in to assist the St. Mary […]
The senior care industry touted its use of technology in past weeks with new gadgets to address important needs of residents in assisted living, continuing- and long-term-care facilities. Here are a few of their favorite things. 1. GeckoSystems: Mobile Robots and Collision-Free Cars GeckoSystems is teaming up with a Japanese mobile robot solutions company, ZMP, […]
There’s room in the senior housing industry for both REITs and lenders, a Capital One healthcare real estate executive told NIC Insider. And Capital One intends to take advantage of the opportunity. “The market need for a bank with a strong balance sheet and capability to lend on a national level coupled with the significant […]
Budget cuts sustained across the Department of Housing and Urban Development for the 2012 fiscal year come at a bad time, and without any relief in sight for Section 202 housing, says one senior advocacy group. The HUD budget, signed into law this month as the result of an appropriations “mini-bus” bill, provides HUD funding […]
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