Former Senior Lifestyle Corp. executive Adam Kaplan is in the process of launching a new senior living company: Solera Senior Living. The company is preparing to launch as a developer of senior living communities in high barrier to entry markets, Kaplan tells SHN. He will serve as CEO of the new company. “Solera is a niche […]
Category: Finance & Development
Welltower Announces Closing of Expanded $3.7 Billion Unsecured Credit Facility Toledo, Ohio-based real estate investment trust (REIT) Welltower Inc. (NYSE: HCN) announced it has closed an approximate $3.7 billion unsecured credit facility, consisting of a $500 million term loan, a $3 billion revolving line of credit and a CAD 250 million term loan ($193.5 million at exchange […]
Senior housing companies may soon find it easier to obtain financing through the U.S. Department of Housing and Urban Development (HUD), thanks to changes that the agency has proposed in a new draft handbook for the Section 232 Healthcare Mortgage Insurance Program. Assisted living and other residential care facilities can use Section 232, also known […]
Executives at not-for-profit senior living companies are largely optimistic about the economy and are pursuing expansion plans, positioning for growth as they face increased competition from for-profit peers and other threats. Compared with last year, 41% of nonprofit executives are more optimistic about the current economic outlook, according to survey findings from Irving, Texas-based Greystone Communities and […]
After a bumpy start to 2016 marked a drop in senior housing transactions, some cited high deal prices that sidelined major players. But the pendulum may now swing, as peak pricing may have already come and gone, according to Beth Mace, chief economist and director of capital markets research National Investment Center for Seniors Housing & […]
(Tribute at Heritage Village — A senior living community in the Washington, D.C. metro area developed and operated by Atlanta-based Thrive Senior Living) Construction: Planned Civitas Senior Living Plans Summer Construction for Texas Community Officials with Fort Worth, Texas-based Civitas Senior Living and Summerlin Asset Management announced last week that construction will begin this summer […]
Mainstreet Health Investments to Seek $95 Million in Canadian Share Offering Toronto-based Mainstreet Health Investments Inc. is planning to raise $95 million by listing on the Toronto Stock Exchange and selling shares in Canada. Mainstreet Health Investments, which owns 11 seniors housing and care properties in Illinois, is controlled by Carmel, Indiana-based real estate developer Mainstreet Property Group. […]
At the outset of the year, it appeared investors might find skilled nursing sexy again in 2016. One quarter in, skilled nursing is garnering a lot of attention, but some investors are attracted while others appear to be rejecting these assets as too risky. At least, that’s judging by questions asked and some heated discussions […]
The nation’s largest developer of transitional care properties has hired a high-profile constitutional lawyer to sue the state of Indiana over its skilled nursing and transitional care moratorium. Mainstreet Property Group, LLC has filed a lawsuit challenging the state of Indiana’s moratorium on new transitional care facilities, arguing that the moratorium violates both the Indiana and […]
(Rendering of a new Allegro Senior Living community under construction in Orlando, Fla. — photo courtesy of Allegro Senior Living, LLC) Construction: Planned National Church Residences to Break Ground Next Week for $35 Million Ohio Project National Church Residences, a not-for-profit senior housing provider, plans to break ground May 9 for Inniswood Village, a new senior living […]