Senior Living Investment Brokerage, Inc. (SLIB) recently announced the sale of a Midwest senior housing portfolio sale of five facilities in Illinois, Kentucky and Indiana. The facilities were sold by the Franciscan Sisters of Chicago Service Corporation, to Trilogy Health Services. The properties included 513 Skilled Nursing Beds and 238 Assisted Living Beds/Units for a […]
Category: Finance & Development
AF Evans Co., Inc. announced earlier this month that it has filed voluntary Petition for Relief under Chapter 11 of the United States Bankruptcy Code. The goal of the filing is to implement a reorganization of finances to enable the company to return to profitability. According to the company’s statement, AF Evans Co.(AFECo) is filing […]
Last Month, Irving Levin Associates, a research and publishing firm that tracks mergers and acquisitions in the seniors housing and health care markets, released the fourteenth edition of the The Senior Care Acquisition Report that showed the average price paid per bed for skilled nursing facilities dropped significantly in 2008 from 2007. The average sales […]
Last month, the Federal Home Loan Bank of San Francisco announced the second portion of its 2008 affordable housing grants that will provide housing units in Arizona, California and Nevada. Grants from the FHLBank San Francisco’s AHP include $2.89 million for projects in the Oakland area congressional district of Rep. Barbara Lee (CA-9th), who was […]
As a follow up to the article on Christian Living Communities, Ziegler Capital Markets with co-manager Stifel Nicolaus & Company, Incorporated more details on the completion of the first non-rated fixed-rate continuing care retirement community (CCRC) financing since September 2008 for Christian Living Communities. The strong demand from retail investors as well as solid institutional […]
The Wall Street Journal ran an article yesterday entitled, “Mom and Dad, You’re Broke”, that addressed discussions that children may be having with their parents as a result of the economic down turn. The article discusses a variety of topics such as updating a will, financial planning and nursing home care. The article specifically talks […]
Last month, the Community Housing Partnership (CHP) and Tenderloin Neighborhood Development Corporation celebrated the groundbreaking of Zygmunt Arendt House, CHP’s first housing development to exclusively serve senior citizens. When opened in early 2010, the $16 million Zygmunt Arendt House will serve as a home for 47 formerly homeless seniors in San Francisco’s NoPa neighborhood. According […]
In the on-going Sunrise Senior Living financial saga, the Company (NYSE: SRZ) announced Monday that it had agreed with its lenders to an eleventh amendment to its Bank Credit Facility, further waiving compliance with certain financial covenants until April 30, 2009. The eleventh amendments is designed to provide Sunrise and its lenders with more time […]
Greystone Communities formally announced earlier this week that an employee group has purchased the company back from parent Sunrise Senior Living so as to once again be a privately-held company. Earlier this month, Senior Housing News reported this transaction in “Sunrise Senior Living To Sell Greystone Interest In An Effort To Raise Cash And Stem […]
The Ohio Housing Finance Agency (OHFA) Board approved its Annual Plan last week, which addresses the state’s affordable housing needs in Ohio. The plan is a strategic guide that highlights current affordable housing issues covering homeownership, multifamily development, and management. The OHFA Board also approved over $6 million to fund affordable housing. Approximately $2.15 million […]
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