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 […]
Category: Stocks
Sunrise Senior Living (NYSE: SRZ) reported a loss of $31.8 million in the second quarter, compared to a profit of $8 million for the same quarter last year. Adding that to the first quarter loss of $33.1 million, the Mclean, Va.-based retirement community operator lost $64.9 million in the first six months of this year, […]
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 […]
Today Fannie Mae announced on September 3rd that they would be discontinuing their Home Keeper reverse mortgage product. With the Housing and Economic Recovery Act of 2008 being signed into law, the product has become obsolescent based upon that legislation. Below is a copy of the announcement from FNMA. As you are aware, Congress passed, […]
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 […]
A national task force from the American Association of Homes and Services for the Aging (AAHSA) recently released a report that the current survey and certification processes used to evaluate long-term care facilities nationwide is broken and beyond repair. The task force concluded in its final report, “Broken and Beyond Repair: Recommendations to Reform the […]
Real estate investment trust Senior Housing Properties Trust (SHPT) said Monday it bought four health and wellness centers operated by Life Time Fitness Inc. for $100 million that are located in Illinois, Texas, Georgia and Nebraska. It also entered into a long-term lease arrangement with Life Time for the properties, for yearly rent of $9.1 […]
The leader in the Senior Housing market is showing some major cracks in its financial statements that were released earlier this month showing that the Credit Crunch is affecting their operation in a major way when it comes to development of new inventory. The company posted a net loss of 70 million dollars when it […]
In April 2007, Ventas acquired approximately $2 billion in senior housing complexes formerly owned by Sunrise Senior Living. The deal brought properties into the Ventas portfolio that rely on private-pay residents rather than their traditional subsidize model. This acquisition relied on Ventas’ ability to use leveraged finance to acquire the properties and extinguish the short […]
HCP (NYSE:HCP) announced that it has placed $259 million of secured debt on 21 of its senior housing assets. The assets are cross-collateralized and the debt has a 7-year term with a fixed interest rate of 5.83%. Fannie Mae purchased the secured debt provided by Grandbridge Real Estate Capital LLC. HCP, Inc., an S&P 500 […]
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