With more defaults expected in the continuing care retirement community (CCRC) space among those financed with tax-exempt bond financing that opened around the time of the economic downturn, private equity investors are being presented with opportunities that could yield substantial returns. “There will be billions of dollars of defaults in that space in the next […]
Chicago Senior Care
With the economic downturn and housing market decline, more continuing care retirement communities (CCRCs) are offering alternative entrance fee refund options to help attract prospective residents, but while many say it’s good business to do so, not all have adopted this practice. There’s a clear trend toward communities offering 50% and even 0% refund options […]
Life Care Services registered a pretty large blip on our radar back in April when it put some skin into the game by investing in luxury senior community the Clare along with Senior Care Development through their new joint venture, Chicago Senior Care. We’ve previously spoken with David Reis, the CEO of Senior Care Development […]
A few high-profile bankruptcies by continuing care retirement communities have made waves in the senior housing industry, and there’s more drama to come—for at least four more years, says a New York-based owner-developer of CCRCs who specializes in acquiring distressed assets. During Senior Housing News’ inaugural Senior Housing Summit, held last Thursday in Chicago, Ill., […]
Multiple headlines in the not-too-distant past have trumpeted the struggles of some non-profit continuing care retirement communities (CCRCs) that are attributable—at least in part—to their financing structures, and there are bound to be more coming down the pike, those in the market say. But while bankruptcy has traditionally been the main option for these distressed […]
With the median age rising for entrants into the independent living portion of many continuing care retirement communities (CCRCs), providers are looking for ways to position their communities to attract younger incoming residents. Positioning communities to attract younger residents boils down to targeting a larger market space, and this can encompass a variety of methods: […]
Chicago Senior Care, LLC, a partnership between Senior Care Development, LLC, Fundamental Advisors LP, and Life Care Companies LLC, placed the winning bid on the bankrupt Clare at Water Tower, a luxury senior high rise located in Chicago’s Gold Coast. The acquisition was led by stalking horse bidder Senior Care Development, out of Harrison, N.Y., […]
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