Senior Care Inc. is expanding its assisted living business into Kentucky with with the purchase of two communities from Louisville-based Ethos Assisted Living for more than $23 million according to BizJournals. The two communities are based in Florence and Mount Washington. The Mount Washington property will be operated as Elmcroft of Mount Washington. The 68-bed community, […]
Category: Assisted Living
The Center for Excellence in Assisted Living (CEAL), and the University of North Carolina at Chapel Hill (UNC), recently released a report on seminal person-centered attributes and indicators, developed and approved unanimously by CEAL through an initiative funded by The Commonwealth Fund. “The creation of person-centered attributes along with measurable indicators developed by diverse national […]
While some are having success with co-ops for seniors housing, the developments are not widespread according to a report from National Real Estate Investor. However, in Minnesota’s Twin Cities, United Properties has found a niche with the developments. “Co-ops have been around in the Twin Cities for about 30 years,” says Brian Carey, senior vice president […]
Two California senior housing properties have recently been bought in a transaction coordinated by CB Richard Ellis National Senior Housing Group. The facilities, located in Beverly Hills and Livermore, Ca., sold for $31,925,000. The Beverly Hills facility, BridgePoint, was built in 2000 and has 60 independent and assisted living units. Rosewood Gardens, build in 1974, […]
AdCare Health Systems Inc. will pay $38.5 million for 15 skilled nursing facilities in four states. Located in South Carolina, North Carolina, Virginia and Tennessee, the facilities have 1,995 beds and generate an estimated $93 million in gross annualized revenues according to their most recent financials. AdCare said its annualized run rate is expected to exceed $268 […]
Harrison Street Real Estate Capital (“HSRE”) has completed its third real estate private equity fund, Harrison Street Real Estate Partners III, L.P. (HSREP III). The firm said exceeded its original goal of $500 million, receiving $595 million total. Investors in the fund include U.S and European pension funds, insurance companies, endowments, foundations and family offices. The Fund already […]
Construction for a $35 million Springpoint Senior Living community is underway in Red Bank, New Jersey, and the need for senior housing is clear as nearly all of the building’s 60 units have already been spoken for. The construction will be an addition to the already-existent The Atrium, which features luxury continuing care retirement, assisted living […]
The president and CEO of CRL Senior Living Communities, Ari Weinberger, hopes to accelerate his company’s growth with his and new chairman Douglas Cameron’s recent acquisition of a majority stake in the company. Weinberger, who worked in real estate investment banking for the health care and senior living markets before joining CRL, is looking ahead toward […]
Senior living community operator Arcadia Communities, based in Louisville, Ky., said it closed on the acquisition of the Trace Senior Living Community in Covington, La., for an undisclosed amount. The 77-apartment community provides independent living, assisted living, and memory care options for its residents. “We are very excited with the addition of the Trace to […]
The Carlyle Group has plans to take HCR ManorCare public in an offering that could raise roughly $500 million according to a report from Reuters. Citing unnamed sources, the IPO could give the nursing home and assisted living facility operator an enterprise value of up to $2 billion. In 2007, Carlyle paid $4.9 billion for […]