Cornerstone Growth and Income REIT Completes Purchase of Dallas, Texas Assisted Living Facility

Cornerstone Growth & Income REIT, Inc. recently announced that it finalized the purchase of a 91 unit, assisted living facility near the Highland Park area of northern Dallas, Texas. The property marks the first acquisition in the REIT and spotlights the strategic alliance that was formed between Cornerstone Real Estate Funds and Servant Healthcare investments. […]

Miller-Valentine Group Announces Lyons Place Elderly Housing

Miller-Valentine Group recently announced the beginning of construction of Lyons Place Elderly Housing, a project with long-time partner, St. Mary Development Corporation (SMDC). Lyons Place will provide 67 affordable units (62,000 square feet) on SMDC’s existing Hoover Place campus at 1300 Genesis Way, Dayton, Ohio. These units are designed specifically for the lifestyle needs of […]

Ventas Announces 4th Quarter and FY 2008 Results And Provides Guidance For 2009

Ventas, Inc. (NYSE:VTR) (“Ventas” or the “Company”) announced yesterday that normalized Funds From Operations (“FFO”) for the year ended December 31, 2008 rose two percent to $2.74, from $2.69 for the comparable 2007 period. Normalized FFO for the year ended December 31, 2008 increased 16 percent to $383.2 million, from $330.6 million for the comparable […]

Florida’s Fiscal Insanity With Nursing Home Funding

For those people who thought sub-prime mortgages and fancy CDO/CMOs were creative accounting, you haven’t seen the latest iteration of creating accounting: increased state taxation in order to receive more funding from Medicaid. Florida Health News’s article, Please Tax Me So I Can Earn More, is a fascinating view into the crazy funding crisis Florida […]

Nationwide Health Properties Names New Chairman and Declares Dividend

Nationwide Health Properties, Inc. (NYSE: NHP) announced yesterday that NHP’s Board of Directors elected Douglas M. Pasquale as Chairman of the Board and Robert D. Paulson as Lead Independent Director. Both Mr. Pasquale and Mr. Paulson are currently directors and will take effect prior to this year’s Annual Meeting of Stockholders. Mr. Pasquale will succeed […]

Citi Community Development Grant Funds Senior Housing in Miami Beach

The Citi Foundation last month announced it is providing funding to local community development organizations in 20 urban communities across the country to support innovative, physical development and rehabilitation projects – known as “place-based initiatives” – that champion the long-term or large scale revitalization of low- and moderate-income communities. The Citi Foundation is offering the […]

Skilled Healthcare Group Announces 4th Quarter and 2008 Earnings

Skilled Healthcare Group, Inc. (NYSE:SKH) announced its unaudited consolidated financial operating results for the three- and twelve-month periods ended December 31, 2008 with a net income of $10.3 million in the fourth quarter of 2008 and net income in 2008 of $37.2 million, or $1.01 per diluted share (full press release or 8-K).  Revenues were […]

Management Consultants See Trouble For Senior Care

Management consulting and restructuring firm, FTI Consulting, is looking to add staff this year and specifically mentioned that senior housing companies will need assistance this year. The Reuters article talks in broad generalities around assisted living facilities and retirement homes without naming specific names. FTI is a top-tier management consulting firm with its root in […]