Five Star Quality Care, Inc. (NYSE Alternext US: FVE) recently announced its financial results for the quarter and year ended December 31, 2008 showing a net loss for the fourth quarter of 2008 was $7.4 million compared to net income of $6.7 million for the same period last year. The company earned $.01 per share […]
Category: Finance & Development
The Sisters of the Most Precious Blood of O’Fallon held its groundbreaking ceremonies for a renovated senior living facility and multiple-use development last month. The Sisters and McEagle Properties partnered for the joint venture to develop the Village of St. Mary’s which includes senior living apartments and patio homes, skilled care, and the development of […]
Brookdale Senior Living Inc. (NYSE: BKD) (the “Company”) reported financial results for the fourth quarter of 2008 earlier this week with a net loss, including a non-cash impairment charge of $220.0 million in the fourth quarter, for the quarter and twelve months ended December 31, 2008 was $(278.8) million and $(373.2) million, respectively, or $(2.75) […]
Recently released information from the Federal Housing Administration is showing that reverse mortgage borrowers are getting younger. The average age of a borrower in 2008 was 73 years old whereas in 1990 the average age was 76 years. The reverse mortgage has been most popular among single females but according to the 2008 data, this […]
Late last month Cherry Gardens, a 42-unit apartment community dedicated to serving seniors with low incomes, celebrated its groundbreaking in Charlotte, North Carolina. The Affordable Housing Group of North Carolina, Inc. and StoneHunt, LLC have teamed up to provide this senior apartment complex as parts of their efforts to implement a neighborhood revitalization strategy, which […]
Ventas, Inc. (NYSE:VTR) recently announced that closed on the sale of Samaritan acute care hospital to affiliates of the University of Kentucky (“UK”) for $35.0 million in an all cash transaction. The property is located in Lexington, Kentucky and is currently operated by UK. The purchase price represents a 6.8 percent capitalization rate on cash […]
Senior Housing Properties Trust announced its year end results last week that showed net income for the fourth quarter was $32.4 million or $.28 a share. For the full year, the company showed a net income of $106.5 million dollars compared to $85.3 million in 2007. The results for 2008 include impairment charges of $8.4 […]
Windsor Place of Wilmington, an assisted living community for seniors which includes a wing for individuals with memory impairment, announced today that project development is on schedule and nearing completion. Windsor Place iwill include 88 distinctive luxury suites in a variety of floor plans and sizes with classic New England shingle style architecture on a […]
The Department of Housing and Urban Development released Mortgagee Letter 2009-07 which raises the national FHA loan limit for reverse mortgages (HECMs) to $625,500. The changes are effective immediately for loans closed on or after February 24, 2009. The speed at which this mortgagee letter was released is shockingly fast but most likely in response […]
Intercommunity Mercy Housing announced that it received a $8.2 million grant from HUD and that the funding will go toward IMH’s first affordable housing property for low-income seniors in Tacoma. Representatives from Intercommunity Mercy Housing, the city of Tacoma and the Washington State Housing Trust Fund celebrated the groundbreaking of the property this week called, […]
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