Private equity is largely absent from the senior housing market, but it will return pending its ability to mitigate some of the risk involved in the sector, industry experts said at a November panel hosted by The SeniorCare Investor and the American Seniors Housing Association. While many private investors have exited, it doesn’t mean they’re […]
Category: Assisted Living
CLW Health Care Services Group recently announced its advisory role to MMA Realty Capital Advisors, Inc. in the $11.35 million sale of Crystal Terrace, an Oregon senior housing community. Located in Klamath Falls, the 87-unit property was sold to Quail Park of Klamath Falls, LLC, an affiliate of Seattle, Wash.-based Living Care, which owns and […]
It might be closing time for hundreds of assisted living facilities in Florida as state legislators prepare to increase regulatory oversight in response to statewide industry scandals exposed by the Miami Herald earlier this year, and a Grand Jury report criticized the state for for not doing enough to enforce existing regulations. In September, the […]
In the past couple of years, Pennsylvania has worked to develop a middle ground between personal care homes and nursing homes, with the expectation that many personal care homes would become licensed for “long-term care assisting living.” However, a surprisingly small number of facilities have actually done so, reports the Pittsburgh Post-Gazette. Then-Governor Ed Rendell’s […]
The Obama Administration recently awarded $23.7 million in funding to convert existing multifamily projects into assisted living senior housing. Seniors in Connecticut, Indiana, Minnesota, New York and Ohio will benefit from the Department of Housing and Urban Development grants, which will enable them to age in place in apartments designed to meet their physical needs. […]
Ohio-based Health Care REIT, Inc., (NYSE:HCN) acquired an assisted living facility on Nov. 7 for approximately $69.2 million. The facility, called Belmont Village Senior Living, is located in Cardiff by the Sea, California. The building is approximately 100,000 square foot, and was sold by Belmont Village LP, of Houston, Texas. Health Care REIT now has a real estate […]
Love Funding recently closed an $8.91 million construction-to-permanent loan for Orchard Park of Odessa, a 97-bed assisted living and memory care center under development in Odessa, Tex. The loan was secured by Love Funding vice president Joshua Hausfeld through the Department of Housing and Urban Development’s Section 232 New Construction Lean program. The program enables […]
Granger Cobb, president and CEO of Emeritus (NYSE:ESC) says that assisted living is about to turn the corner. Sitting down with National Real Estate Investor, Cobb says that while it expects the sector to turn around, it’s being cautious. I’m absolutely convinced that it is only a matter of time before we see occupancies and rental rates improve. […]
Brandywine Senior Living has acquired four assisted living communities from Springpoint for an undisclosed sum. Based in Mt. Laurel, NJ, Springpoint said the sale allows the business to focus on and dedicate its resources its core business of continuing care retirement and affordable housing communities for older Americans. The four assisted living communities are Haddonfield […]
KeyBank Real Estate Capital has agreed to provide Freddie Mac funding totaling $28.6 million to Emeritus Corp. (NYSE:ESC) for three of its seniors housing properties. The funding will allow Emeritus to refinance the three properties, located in Ohio, Colorado and Kentucky. The properties are all assisted living facilities, two of which include Alzheimer’s facilities. The […]
Subscribe
Receive industry updates and breaking news from SHN