Last week, Senior Housing Properties Trust announced its third quarter earnings showing that net income was $29.1 million, or $0.25 per share, for the quarter ended September 30, 2008, compared to net income of $20.6 million, or $0.25 per share, for the quarter ended September 30, 2007. The results include the gain on sale of […]
Category: Finance & Development
Oregon Business News recently printed an emailed letter from Sunwest’s CEO, Jon Harder, to U.S. Senator Gordon Smith’s office that pleaded for assistance. According to the article, Harder’s lawyer confirmed its authenticity but the tone of the letter paints a shocking picture of the challenges it faces with its lenders and its operations. If Mr. […]
The State Division of Housing and Community Renewal (DHCR) and the US Department of Agriculture (USDA) recently announced they would be jointly funding an affordable housing residence for low-income senior citizens in the Village of Unadilla in Otsego County. The new construction of 24 units will include two units that are fully accessible and adapted […]
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 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 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 […]
With the recent government take over of Fannie Mae and Freddie Mac, many people are proclaiming that this may be the first step towards setting the housing market back on the right course. Whether you agree with this or not, its important to realize that this will provide some additional support for the senior housing […]
The Grubb & Ellis March 2008 Report for healthcare properties was sent over to us recently and it had some pretty interesting facts: The 65 and over age group will grow by 36 percent between 2010 and 2020 compared with nine percent for the general population. The 65 to 74 age group made an average […]
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 […]
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 […]