Lancaster Pollard Helps Two California-Based Senior Living Providers Refinance Communities Lancaster Pollard recently helped two California-based clients refinance their senior housing properties using the Fannie Mae Seniors Housing program. First, Lancaster Pollard assisted Sterling Senior Communities in completing a $19 million refinance of Tanner Springs, a 115-bed assisted living and memory care community in Oregon. […]
This week, our most read stories revolved around a record-high False Claims Act settlement for a Tennessee-based skilled nursing provider; newly launched digital shadow boxes for memory care communities; and a new entrant into the senior housing lending business. Here in the newsroom, we enjoyed listening to a 92-year-old comedian do a stand-up routine at […]
Recently, owners of continuing care retirement communities (CCRCs) have been spending more money than usual to expand and keep their existing communities looking fresh. In fact, capital spending for CCRCs in the United States has reached its highest level since the Great Recession, according to a new report from Fitch Ratings. Median capital spending for CCRCs […]
Many Chicago Cubs fans feel like they’ve been waiting a lifetime for their team to win the World Series. Some fans in Chicago-area senior living communities have been. Take Alice Segal, a resident at The Breakers at Edgewater Beach, a Senior Lifestyle community in Chicago. “I’m 85 years old, but I’ve been a Cubs fan for 86 […]
Life Care Centers of America, Inc. has agreed to pay a record-high settlement to the U.S. Department of Justice (DOJ) for violating the False Claims Act, the department announced Monday. The Cleveland, Tennessee-based skilled nursing provider owns and operates more than 220 skilled nursing facilities nationwide. Life Care Centers of America and its owner, Forrest […]
A major name in U.S. banking has now joined the ranks of senior housing lenders through a recently announced acquisition. SunTrust Banks, Inc. (NYSE: STI) announced Thursday it has entered into a definitive agreement to acquire substantially all of the assets of the operating subsidiaries of Pillar Financial, LLC, a direct lender for health care and […]
Senior housing heavyweight Daniel Baty plans to make even bigger waves in the Chinese senior care market—with the help of $250 million in new financing. Baty, co-founder and former chairman of Emeritus Corp. until its merger with Brookdale Senior Living (NYSE: BKD) in 2014, also served as the chairman of Holiday Retirement Corp. from 1987 to 2007. […]
Grandbridge Facilitates Funding of $125 Million Seniors Housing Portfolio Grandbridge Real Estate Capital’s Seniors Housing and Healthcare Finance Group recently facilitated the purchase of a $125 million seniors housing portfolio secured by four independent living seniors housing communities in four states. Funding for the assumption and supplemental loans was funded via Fannie Mae’s DUS® Seniors […]
The U.S. Department of Housing and Urban Development’s (HUD) Lean mortgage insurance program for senior housing may have finally hit a turning point after experiencing a few years of declining loan volumes. During the fiscal year ended Sept. 30, 2016, senior housing loan volume from the federal agency actually rose for the first time in […]
The future’s bright for nonprofit senior living, or at least those providers that are executing on some key plays to remain competitive in a marketplace that’s changing quickly. Operator sophistication, size and scale were frequently discussed topics at the 2016 Ziegler Annual Senior Living Finance + Strategy Conference, which took place late last month in Ponte Vedra Beach, Florida, according […]