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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 […]
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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 […]
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Oxford Finance, a specialty finance firm that provides senior debt to life science and healthcare services companies, today announced that it closed a $1.5 million credit facility with American Senior Living Communities (ASLC). The line of credit will be used to fund ongoing operations and provide working capital for an acquired skilled nursing facility in […]
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AEGON USA Realty Advisors, a commercial real estate investment and management arm of AEGON and manager of a Low-Income Housing Tax Credit fund for Google (NASDAQ:GOOG) announced it has added has added an additional property to the fund with a new $47 million investment from the search giant. The new property, the Towers at Kuhio Park Terrace […]
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GlobeSt.com recently sat down with Cary Tremper, who was recently brought on to expand KeyBank Real Estate Capital’s Seniors Housing Agency Lending Group. During the last two years, Tremper said the lack of new construction has increased occupancies to 87% industry wide, with four consecutive quarters of occupancy increases. “Overbuilding will always be a concern because it’s […]
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Equity LifeStyle Properties (NYSE:ELS) agreed to purchase 76 manufactured home communities from certain affiliates of Hometown America for $1.43 billion. The properties contain 31,167 sites on approximately 6,500 acres located in 16 states said the REIT on Tuesday. Assuming the acquisition was completed on January 1, 2010, ELS estimates the purchase price represents a cap rate of approximately 6.7%, and that […]
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REITs Responsible for 94% of All Senior Housing Deals
By John Yedinak| May 22, 2011While I’d like to think we’re pretty clever here at SHN, Peter Slatin from Real Capital Analytics came up with one of the best headlines I’ve ever read. Using his column over at Forbes, Slatin writes that REIT Investment Is Viagra for Senior Housing. “REIT M&A activity in the suddenly hot senior housing market has made that […]
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RCA and NIC to Enhance Senior Housing Transaction Data
By John Yedinak| May 12, 2011Real Capital Analytics (RCA) and the National Investment Center for the Seniors Housing and Care Industry (NIC) announced an agreement to enhance senior housing industry data and help facilitate investment decisions within the sector. As part of the agreement, NIC will provide RCA with its database of senior housing information and RCA will enhance the […]
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The Long Beach Senior Arts Colony celebrated its ground breaking last month in Long Beach, California. The ceremony, hosted by developer Meta Housing Corporation, included representatives from a variety of agencies, including Long Beach Mayor Bob Foster, First District City Councilmember Robert Garcia and Eugene Lee, chief of the TOD and Infill Section of the […]
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The MedCottage, a portable, modular dwelling, announced its commerical debut earlier this month with an initial distribution in five U.S. markets. The 12 by 24 foot dwelling is designed as an alternative to allow familes to provide care for their loved ones on their property as an alternative to long-term care facilities. Each dwelling unit […]