Social Security Cost of Living Adjustment Doesn’t Cover Inflation in Senior Housing Expenses

The Social Security Administration announced today that monthly Social Security and Supplemental Security Income benefits will increase 5.8% in 2009.  This increase isn’t enough to offset the increases that many seniors have seen in their housing expenses including their property taxes and insurance, let alone any increases in rent or mortgage payments.  More than 55 […]

Fitch Rates $42MM Masonic Home of Kentucky 2008 Revs ‘BBB’; Outlook Stable

Fitch Ratings has assigned a ‘BBB’ rating to the expected issuance of $42.2 million Kentucky Economic Development Finance Authority healthcare facilities revenue bonds series 2008 A&B (Masonic Homes of Kentucky, Inc. [MHKY]). Rating Outlook is Stable.  MHKY was established by the Grand Lodge of Kentucky Free and Accepted Masons in 1867 to provide a home […]

AgeSong Expands into Emeryville with New Independent and Assisted-Living Community

AgeSong at Bayside Park, a 116,400 square-foot, 125-apartment community that will offer independent and assisted living apartments for senior adults breaks ground today in Emeryville, expanding AgeSong’s holistic approach to elder care in the East Bay. A five-story residence, AgeSong at Bayside Park sits on a corner site at 1440 40th Street (and Horton), within […]

Health Care REIT to Acquire 29 Sunrise Senior Living Properties

Premier Assets Valued at $715 Million Concentrated in New York, Los Angeles and Chicago TOLEDO, Ohio–(BUSINESS WIRE)–Sept. 2, 2008–Health Care REIT, Inc. (NYSE:HCN) has entered into an agreement with an affiliate of Arcapita, Inc. to acquire its 90% interest in a venture owning 29 senior housing properties managed by Sunrise Senior Living, Inc. (NYSE:SRZ) for […]

REX & Equity Key: A Reverse Mortgage Alternative?

US News & World Report journalist Emily Brandon wrote about San Diego, CA based Equity Key’s product which can be used as an alternative to a reverse mortgage.  Equity Key’s product will provide a cash advance on a house in exchange for the right to share in the homes future appreciation.  A typical borrower is […]

Ventas Shows Growth Through Acquisition But For How Long?

In April 2007, Ventas acquired approximately $2 billion in senior housing complexes formerly owned by Sunrise Senior Living.  The deal brought properties into the Ventas portfolio that rely on private-pay residents rather than their traditional subsidize model.  This acquisition relied on Ventas’ ability to use leveraged finance to acquire the properties and extinguish the short […]