The Midwest is a key area for growth when it comes to senior housing development thanks to a lack of supply compared to other geographic locations and a growing number of seniors, two analysts say. And while the Great Recession hasn’t made it easy for many senior-oriented projects to get construction financing, the Toledo, Ohio […]
Category: Finance & Development
In 2009, Alpharetta, Ga.-based Formation Development Group and Radnor, Pa.-based Shelbourne Healthcare Development Group and their respective capital arms formed a joint venture, called Formation-Shelbourne Senior Living Services. The partnership brought together a team of members with extensive background in the senior living industry, allowing former Sunrise Senior Living principals and EdenCare Senior Living executives […]
Health Care REIT Closes New $250 Million Canadian Loan with Accordion Feature Health Care REIT, Inc. (NYSE:HCN) announced on Thursday, May 24 that it had closed on a $250 million Canadian denominated unsecured term loan (approximately $244 million in U.S. dollars). The loan is coterminous with the REIT’s $2 billion (USD) unsecured revolving credit facility, […]
Everest Real Estate Advisors Closes $12 Million Loan for Minn. Senior Housing Community Everest Real Estate Advisors, headquartered in Minneapolis, Minn., recently closed on a $12 million refinancing loan for Select Senior Living, a 90-bed senior housing facility in Coon Rapids, Minn., reports Real estate Journals. The advisory firm provided the refinancing through HUD’s Section 232/223(f) […]
Healthcare real estate investment trust Health Care REIT (NYSE:HCN) recently released its first quarter earnings report and held an earnings call discussing the quarter; highlights include a focus on its partnership with Genesis HealthCare; increasing value through private pay portfolios; and growing a post-acute platform. Back in February 2011, Health Care REIT acquired most of […]
As America’s older population grows, so does the demand for affordable senior housing—especially following the economic downturn. Considering nonprofit providers’ need to access capital at a reasonable cost in order to supply an increasingly necessary commodity, Lancaster Pollard recently updated its “Financing Options for Nonprofit Senior Living Organizations” guide. The guide is meant to “demystify” […]
Credit ratings can be useful for senior living providers—even the smaller companies—for improving access to capital, gaining economic value through demonstrating financial health, and benchmarking performance against other similar organizations, said a group of panelists during an online senior living conference held in March, reports Healthcare Finance. “At its core, credit ratings provide transparency and […]
Love Funding Secures $8.56 Million Construction Loan for Fla. ALF Love Funding recently closed an $8.56 million loan for the construction and permanent financing of Viera Manor Assisted Living Facility, a new senior living center in Viera, Fla., meant to provide housing for U.S. veterans. Laura Saull-Smith, a senior director at Love Funding out of […]
Healthcare real estate investment trust HCP Inc. saw its net income attributable to common shares more than double in the first quarter ended March 31, 2012, to $175.3 million, compared to $63.9 million the previous year. Net income applicable to common shares rose to $0.43, compared to $0.17 in 2011. FFO per share increased 60% in […]
In the current credit environment, financing through the U.S. Department of Housing and Urban Development (HUD) has become a favorite of borrowers. With its low, long-term fixed rates, flexibility, nonrecourse feature and other benefits, HUD is often the best available option for a borrower seeking to refinance or finance new construction or rehabilitation of a […]
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