Mirabella San Francisco Bay Construction Delayed

A few weeks ago, we posted about Mirabella Seattle opening early and just last week the San Mateo County Times ran a piece about Mirabella San Francisco Bay being delayed due to its inability to find construction financing. The developers are looking to resume construction once financing has been obtained but the letter from the […]

Ventas Closes On Sale of Four Senior Housing Assets

Ventas, Inc. (NYSE:VTR) (“Ventas” or the “Company”) announced last week that it has closed on the sale of four seniors housing assets to affiliates of Benchmark Assisted Living (collectively, “Benchmark”) for an aggregate sale price of $58.7 million. The assets are located in Massachusetts and contain 403 units. The sale was made pursuant to a […]

Senior Housing Layoffs Begin In 2009 At Erickson

Last week, the Baltimore Sun reported that Erickson Retirement Communities laid off 260 employees and blamed the layoffs on the recession. The company announced that most of the jobs cuts came from positions at its corporate headquarters and included staff in the construction and development areas. This trend seems to follow some of the other […]

NHP Looking To Raise Capital $129 Million In Capital

Last week, National Health Properties, Inc. (NHP) entered into a sales agreement with Cantor Fitzgerald & Co. to sell up to 5,000,000 shares of its common stock through a controlled equity offering with a proposed aggregate value of over $129,000,000 based upon last week’s stock price. The company intends to use the proceeds for general […]

NHC Announces Expansion of South Carolina Hospice Operations

National HealthCare Corporation recently announced the addition of five hospice locations in South Carolina. With this latest addition, NHC now operates six hospice programs in the state of South Carolina. This expansion is the result of the January 1st purchase of the assets of Advantage Hospice and Home Care’s South Carolina operations. The new hospice […]

Alternative Lenders Needed To Close Assisted Living Construction Loans

As the credit crisis worsens, many developers are having to turn to non-traditional lenders to finance their projects. Metro Funding Corp. (MFC), a private asset-based lender, headquartered in Paramus, N.J., recently announced the funding of a $1,300,000 loan for the construction of an assisted living facility in Big Bear, CA. The loan was cross-collateralized with […]

Sunwest CEO Files For Personal Bankruptcy

Last week the CEO of Sunwest Management filed for personal bankruptcy as part of an effort to restructure the company. The turnaround consulting firm, Hamstreet and Associates of Portland, Ore., took over Sunwest Management and filed the Chapter 11 bankruptcies last week for different entities affiliated with Sunwest Management. The most interesting part of this […]