-
“Recession Resistant” Health Care REITs Raise $22.5 Billion
By Elizabeth Ecker| September 27, 2011Healthcare Real Estate Investment Trusts (REITs) are gaining steam as a property sector, having raised a total of $22.5 billion in the 18 month period ending June 30, a recent Jones Lang LaSalle report states. And in spite of the scale of the sector, healthcare real estate has only marginal penetration by real estate investors, […]
-
Senior Housing Operators Use Special Programs to Drive Up Occupancy Rates
By Alyssa Gerace| September 13, 2011After home values tanked as much as 30% from 2006 levels in certain parts of the country, according to Case-Shiller home price indices, some senior housing operators have been forced to purchase seniors’ homes in order to attract new residents to their facilities. Home purchase programs function as an agreement that a senior housing company […]
-
Clarion Acquires Two Assisted Living Facilities for $64.5 Million
By John Yedinak| September 12, 2011Clarion Partners acquired two assisted living facilities for $64.5 million from Kisco Senior Living. The portfolio sale includes two properties based in California, the Village on the Green and the Buena Vida Apartments. Village on the Green is a 264 unit complex in Rancho Cucamonga, CA, that was 97 percent occupied at time of sale and closed […]
-
Profits for Skilled Nursing Facilities will Flatline from Medicare Cuts
By Alyssa Gerace| August 24, 2011Profits for skilled nursing facilities will flatline as a result of the 11.1% reduction in Medicare reimbursement rates, a new Avalere Health analysis says. Funded by the Alliance for Quality Nursing Home Care (AQNHC), the report estimates that the payment reduction and group therapy changes in the fiscal year 2012 skilled nursing facility final rule […]
-
Home Health Care 75% Cheaper than Nursing Home Care
By Alyssa Gerace| August 21, 2011Home care is more affordable that many realize, as 49% overestimated the cost by more than $6 an hour, a recent Home Instead Senior Care poll shows. Around 73% of surveyed seniors and their families who receive paid home care found it to be at a good value and were satisfied with their care; the […]
-
The Centers for Medicare and Medicaid Services’ (CMS) decision to cut payments to skilled nursing facilities by $3.87 billion in fiscal year 2012 will have significant negative economic impact on many of the nation’s states, according to a new report funded by the Alliance for Quality Nursing Home Care (AQNHC). Conducted by Avalere Health, the report […]
-
Brookdale Senior Living, Inc. (NYSE:BKD) experienced a substantial net loss in the second quarter of more than 250%, which its CEO attributed to the poor economic climate and the recently announced reductions in Medicare reimbursement. Brookdale lost nearly $34 million in the second quarter ending on June 30, 2011, more than triple the amount lost […]
-
Omnicare, Inc. (NYSE:OCR) reported its second quarter results that show an increase in its GAAP net income to .32 per share versus .20 per share for the same period in 2011 and an adjusted EBITDA of $146.3 million compared to $144.5 million in Q2 2011. Omnicare’s cash flow from continuing operations during Q2 saw a […]
-
Grubb & Ellis REIT II Secures $71.5 Million Credit Facility
By Alyssa Gerace| July 12, 2011Grubb & Ellis Healthcare REIT II, Inc. (NYSE: GBE) recently entered into a secured revolving credit facility with KeyBank, National Association, the corporation announced. The credit facility is for $71.5 million, but this amount can be increased to $100 million if Grubb & Ellis meets certain conditions. “Since March 2010, Grubb & Ellis Healthcare REIT II […]
-
AARP Releases Pandora-Like Radio for 55+ Demographic
By Elizabeth Ecker| July 7, 2011An online music player specifically catering to the 50+ demographic launched this week through AARP’s website, AARP.org. The player launched through a team effort including AARP and Concord Music Group. The streaming music player, which operates similarly to mainstream music players like Pandora and Slacker, features 18 channels spanning several genres of music. The music […]