National Church Residences has completed the sale of $52,405,000 in bonds and invested another $10 million to allow First Community Village, a continuing care retirement community it sponsors, to emerge from Chapter 11 bankruptcy, the not-for-profit announced last week. The bond proceeds will also be used to fund the construction of more manor homes along […]
Category: Finance & Development
For senior care providers, gearing up for “March Madness” this year probably doesn’t mean filling out an NCAA tournament bracket—it means scrambling for ways to mitigate a new round of reductions to Medicare reimbursement rates currently en route to the industry. Barring Congressional action, skilled nursing and rehabilitation providers are in for a 2% sequestration-induced […]
Ziegler Closes $19.5 Million Appalachian Christian Village Financing Ziegler recently announced the closing of the $19.52 million tax-exempt, fixed-rate Series 2013 Bond issue for Appalachian Christian Village (ACV), a Tennessee not-for-profit corporation that owns and operates Appalachian Christian Village at Sherwood, a type-C CCRC, and Maple Crest, an independent living community, both in Johnson City, […]
A Virginia continuing care retirement community announced Tuesday it will file for Chapter 11 bankruptcy protection in order to restructure its debt, resulting in millions of dollars of losses to lenders and investors. The WindsorMeade of Williamsburg, sponsored by Virginia United Methodist Homes, is the latest in a number of CCRCs that launched during the […]
Senior living providers are looking for ways to drive revenue by diversifying their business lines and capabilities, in line with ancillary services accommodation being named as a top trend in senior living design for 2013 by the Building, Design & Construction Network. Brookdale reported growing revenues from its ancillary services programs during the third quarter of 2012, although its $11 […]
Senior Housing Properties Trust Reports Income Gain in Q4, Acquires 11 Properties Senior Housing Properties Trust (NYSE: SNH) reported a net income gain for the quarter ended December 31, 2012 at $44.6 million, or $0.25 per share. Total revenues for the same period was $194.1 million, up 42% from the fourth quarter in 2011. The […]
The Ensign Group, Inc. (NASDAQ: ENSG) reported a net income of $13.5 million, or $0.09 per diluted share, for the fourth quarter ended December 31, 2013. The company also reported fourth quarter revenues were up 9.6% to $211.1 million. For the year, revenues were up 10.1% to %55.7 million. Adjusted earnings per share climbed 27.1% to […]
Ventas Inc. (NYSE:VTR) saw its net income drop 55% to $86.3 million, or $0.29 per share, in the fourth quarter ended Dec. 31, 2012 compared to the previous year, when income was boosted by litigation gains. Last year’s fourth quarter profits of $192.9 million, or $0.66 per share, benefited from $116.9 million in litigation proceeds. […]
Valentine’s Day may be a little less sweet for the Federal Housing Administration (FHA) this year after getting added to the Government Accountability Office’s (GAO) “high risk” list, but with the spotlight on the agency’s single-family insurance fund, healthcare lending isn’t likely to be impacted. “The assignment to a “high risk” category is being driven […]
KKR to Provide $150 Million of Equity to Sentio Healthcare Properties Real estate investment trust Sentio Healthcare Properties, Inc. announced the signing of a definitive agreement with an affiliate of global investment firm Kohlberg Kravis Roberts & Co. L.P. (KKR) for a commitment to provide $150 million of convertible preferred equity to Sentio in the […]
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