Chicago-based private equity firm Harrison Street Real Estate Capital, LLC and development company The Engel Burman Group have agreed to purchase five senior living communities for $290 million from a Canadian-Australian joint venture partnership. Canadian REIT Chartwell Seniors Housing (TSX:CHS.UN) and ING Real Estate Australia Pty are selling the five-property Bristal-branded portfolio, all located in New […]
Category: Assisted Living
The assisted living concept has been around for roughly 25 years, but there’s still a struggle to educate policy makers and regulators at the state level about the industry, according to panelists at the Assisted Living Federation of America’s annual event held last week in Dallas, Tex. “The biggest barrier is a lack of understanding […]
Change in lifestyle is a crucial issue that has a huge impact on someone’s decision to enter a senior living community. As senior living communities market to new residents, there is a critical time period—it can be as short as a few minutes—during which they engage or lose the potential customer. That engagement revolves directly […]
As assisted living regulations evolve and tighten, Medicare and Medicaid reimbursements fluctuate, and healthcare reform begins to take effect, many states are facing their own challenges as they continue to develop, operate, and implement new rules and programs. Here is a collection of long-term care related stories from across the nation that are worth reading. […]
Lifecare Properties, LLC, a real estate development and operating company, recently announced it has acquired property in Arlington, Tex. on which it plans to build a 67-unit assisted living facility. The 5.2 acre site is located at 7708 S. Cooper Street and was bought from Anwar A Lalani and Sultana A. Lalani, trustees of Lalani […]
Here’s a list of possible turnaround opportunities for senior care facilities, ranging from troubled facilities that have lost Medicare/Medicaid licensing, to ones that have been shut down by the state, to places that plan to close their doors voluntarily for various reasons. From SCNow.com—Troubled S.C. Assisted Living Facility Closing Its Doors Place: Magnolia Gardens Assisted […]
Ohio assisted living residents give their facilities a higher average satisfaction rating than do nursing home residents, according to the Ohio Department of Aging’s 2011 nursing home and residential care facility resident satisfaction surveys. Residents in Ohio nursing homes gave an overall satisfaction score of 87.1%, while individuals in assisted living facilities averaged a 92.33% […]
Canadian Leisureworld Senior Care Corporation (TSX:LW) entered acquisition agreements on April 26 to buy three luxury retirement residences in the Greater Vancouver Area in British Columbia for an aggregate purchase price of $119.8 million, including a mark to market on assumed debt and excluding a performance-based earn-out of up to $6 million. Two of the […]
Senior Living Investment Brokerage, based in Glen Ellyn, Ill., recently brokered the sale of seven senior living properties across three states for a total of $30,350,000. “All signs point to a surge during the last several months in investor interest in senior living properties. Buyers are extremely motivated. For skilled nursing facilities as well as seniors housing, […]
The cost of care among facility-based providers has steadily risen in the past five years, according to the results of Genworth’s 2012 Cost of Care Survey, while the cost of in-home care services has remained relatively flat. The cost of a single-occupancy assisted living unit, with a national median monthly rate of $3,300, rose 1.19% […]
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