Love Funding recently announced that it has closed an $11,467,400 refinance loan for nine assisted living facilities located throughout the Boise, Idaho area. The borrower, The Cottages II, LLC, closed the transaction with the HUD 232/223(f) loan program where terms of the deal included a 6.47 percent fixed interest rate at a 35-year amortization. The […]
Category: Development
Five Star Quality Care, Inc. (NYSE Alternext US: FVE) recently announced its financial results for the quarter and year ended December 31, 2008 showing a net loss for the fourth quarter of 2008 was $7.4 million compared to net income of $6.7 million for the same period last year. The company earned $.01 per share […]
Merchandising Plus announced recently that it has been selected to design and furnish Brighton Bay, a new senior independent living facility in Jacksonville. Brighton Bay is expected to be completed in May of 2010 and will have 183 suites on four stories with 30 percent of the 212,000 square foot building is dedicated to community […]
Is Jon Harder a west coast Bernie Madoff? According to the SEC charges, Harder and Sunwest were raising funds from investors and using the new money to pay other investors and operating expenses in a kind of ponzi scheme. The Securities and Exchange Commission (SEC) filed civil fraud charges against Sunwest Management, Inc, Jon Harder, […]
The Sisters of the Most Precious Blood of O’Fallon held its groundbreaking ceremonies for a renovated senior living facility and multiple-use development last month. The Sisters and McEagle Properties partnered for the joint venture to develop the Village of St. Mary’s which includes senior living apartments and patio homes, skilled care, and the development of […]
Brookdale Senior Living Inc. (NYSE: BKD) (the “Company”) reported financial results for the fourth quarter of 2008 earlier this week with a net loss, including a non-cash impairment charge of $220.0 million in the fourth quarter, for the quarter and twelve months ended December 31, 2008 was $(278.8) million and $(373.2) million, respectively, or $(2.75) […]
Company ceases new construction and auditors give ‘going concern’ opinion Sunrise Senior Living announced its fourth quarter results that show a net loss for the fourth quarter and twelve months ended December 31, 2008 was $305.6 million and $439.2 million, or $6.07 and $8.72 per fully diluted share, respectively, as compared to net loss of […]
Late last month Cherry Gardens, a 42-unit apartment community dedicated to serving seniors with low incomes, celebrated its groundbreaking in Charlotte, North Carolina. The Affordable Housing Group of North Carolina, Inc. and StoneHunt, LLC have teamed up to provide this senior apartment complex as parts of their efforts to implement a neighborhood revitalization strategy, which […]
Ventas, Inc. (NYSE:VTR) recently announced that closed on the sale of Samaritan acute care hospital to affiliates of the University of Kentucky (“UK”) for $35.0 million in an all cash transaction. The property is located in Lexington, Kentucky and is currently operated by UK. The purchase price represents a 6.8 percent capitalization rate on cash […]
Windsor Place of Wilmington, an assisted living community for seniors which includes a wing for individuals with memory impairment, announced today that project development is on schedule and nearing completion. Windsor Place iwill include 88 distinctive luxury suites in a variety of floor plans and sizes with classic New England shingle style architecture on a […]
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