A recent study by the National Association of Home Builders (NAHB) and the MetLife Mature Market Institute (MMI) shows that Baby Boomers prefer to age in place but many are choosing to move to retirement communities that are better designed to meet their needs. The NAHB considers this an important fact as that generation will […]
Category: Finance & Development
HCP (the “Company”) (NYSE:HCP) announced results for the quarter ended March 31, 2009 that showed funds from operations (“FFO”) applicable to common shares was $128.0 million, or $0.50 per diluted share, for the quarter ended March 31, 2009, compared to FFO applicable to common shares of $121.5 million, or $0.56 per diluted share, in the […]
Sunrise Senior Living, Inc. (NYSE: SRZ) announced it has entered into a twelfth amendment to its Bank Credit Facility, which eliminates all financial covenants, except a minimum liquidity covenant, through the December 2, 2009 maturity date. In addition to eliminating all financial covenants, except for a minimum liquidity test, the twelfth amendment relieves Sunrise’s lenders […]
Prudential Mortgage Capital Company recently announced that it had arranged a $756 million construction loan for a new hospital in Hopewell Township, N.J., the largest in Federal Housing Administration history. Prudential’s (NYSE: PRU) FHA-lending business arranged the loan through the FHA’s Section 242 Hospital Mortgage Insurance program. The hospital, located in the Trenton N.J. area, […]
Cambridge Realty Capital Companies recently reported the firm processed 19.5 percent fewer loan origination requests during the first quarter of 2009 than it did for the same period last year. Cambridge Chairman Jeffrey A. Davis said the company reviewed 74 loan origination requests totaling $1.19 billion through the first three months of this year. This […]
The McGregor Foundation last weekend presented awards to three architectural firms — including a shared first and second place to Dorsky Hodgson Parrish Yue of Beachwood, Ohio — at the conclusion of a weekend public competition to design affordable multi-family housing for seniors in Cleveland’s inner city. A panel of five judges chose the winners […]
Will manufacturers of senior housing products begin to invest in real estate as the demand for their products wanes with the economic downturn? That appears to be the case with a Florida-based manufactured housing maker. Nobility Homes, a manufacturer of manufactured homes, has announced its first quarter results that show a .03 loss per share […]
Should the phrase “only the strong survive” be changed to “only those with cash survive” become the new calling card for the senior housing real estate investment trust industry? Industry experts are predicting a huge amount of merger and acquisition activity in the broader REIT sector over the remainder of 2009 and into 2010 as […]
As money from the Department of Housing and Urban Development begins being distributed to housing agencies across the country, many local agencies and politicians are eager to demonstrate that stimulus money is being put to work quickly for important project for low and moderate income constituents. Last week, leaders of the Tacoma Housing Authority held […]
Are you confused about reverse mortgages? Well, don’t be ashamed. A recent article in the Wall Street Journal (WSJ) entitled, Older Borrowers, Out in the Cold which describes the challenges that many senior homeowners are facing with their mortgages and the lack of solutions that the government provides for senior homeowners. The article and author […]
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