Red Mortgage Capital provided permanent financing for three assisted living senior communities in Ohio using the Federal Housing Administration’s 232 program and Ginnie Mae’s MBS. Premier Senior Living, a New York based owner and operator used the loans to pay off interim financing provided by Red Capital Partners. The three FHA LEAN loans totaling $19,920,000 […]
Category: Assisted Living
Nevada H.A.N.D., a non-profit affordable housing provider, recently celebrated the opening of Silver Sky at Deer Springs, a low-income assisted living community in Deer Springs, Nevada. The facility was developed and funded with help from the State of Nevada Housing Division’s ARRA stimulus funds through the Low-Income Housing Tax Credit Exchange Program, City of Las […]
Seniors housing properties continue to be in demand, as assisted living facility prices rose dramatically in 2011, although skilled nursing prices fell somewhat, according to The SeniorCare Investor. The nationwide average prices per unit for assisted living facilities increased to $161,700 in the 12 months ended Sept. 30, 2011, representing a 57% increase over calendar […]
Capital Senior Living Corporation (NYSE:CSU) recently announced a $30 million acquisition of three senior living communities, located in North and South Carolina. The levels of care offered in the portfolio include independent living, assisted living and memory care. The portfolio was financed with approximately $22 million of 10-year fixed rate debt that is non-recourse to […]
Midwest Health, headquartered in Topeka, Kan., recently negotiated the purchase of Park Lane Development’s Assisted Living Communities, including West View Assisted Living in Osceola, Maple Ridge Assisted Living in Oskaloosa, Prarie View Assisted Living in Creston, and Park Lane Assisted Living and Memory Care in Knoxville. Midwest owns and operates 38 senior living communities in […]
Senior Living Investment Brokerage, Inc. announced this week that it has brokered senior housing deals totaling $56.23 million. The properties include assisted living and skilled nursing facilities spanning five states. “Acquisition activity across the country remains strong with a wide range of investors continuing to have a positive impact on the market for senior living […]
Love Funding Corporation recently closed on a $9.22 million construction loan for Orchard Park of Murphy, a 90-bed senior assisted living and Alzheimer’s community located in Murphy, Tex. McFarlin Group, a senior housing developer based in Dallas, Tex., recently broke ground on the $13 million project, which is slated for completion during the summer of 2012. […]
Nursing homes and assisted living facilities financed with loans insured by the Department of Housing and Urban Development’s 232 program could see a bit less regulation as a result of the U.S. House of Representatives Committee for Transportation Housing and Urban Development (THUD) appropriations bill. According to a report submitted by Tom Latham (R-Iowa), Subcommittee […]
A senior housing facility in Vermont recently received a a $575,000 grant for an expansion project that will be a “major part” of the drive to get new units built, reports the Brattleboro Reformer. “It is always a challenge to come up with the funding for a project like this, and receiving one of the […]
Senior living provider TLC Management and real estate development company Leo Brown Group recently broke ground on a $17 million senior living community in Newburgh, Indiana. The project, named The Village at Hamilton Pointe, will offer a full continuum of senior care, allowing residents to age in place thanks to the campus’s multiple senior living […]
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