Thirty-one senior living borrowers have missed a payment on their municipal bond debt for the first time in 2021, representing about $1.6 billion of muni bonds in default and tying the record number of senior housing defaults set last year. That’s according to the latest statistics from Municipal Market Analytics (MMA). The findings build on […]
Covenant Living
Senior living nonprofit Covenant Living has entered into a purchase agreement to buy a CCRC in New Hampshire that recently filed for Chapter 11 bankruptcy. The organization behind the continuing care retirement community (CCRC), The Prospect-Woodward Home, filed for Chapter 11 bankruptcy protection in New Hampshire, where the community is located. Covenant is seeking to […]
“When you’re in a chaotic environment, you white-knuckle the status quo. We just can’t do that. We really have to think about what is the ‘new next’ that we are going towards.” Those are the words of Sequoia Living President and CEO Sara McVey, and they capture a common sentiment among other top executives in […]
Construction: Planned Plans Advance for Zen-Inspired Kendal Life Plan Community in California The Healdsburg Planning Commission has awarded a series of approvals to the planners of Enso Village, a Kendal-affiliated life plan community in Healdsburg, California. Kendal is collaborating on the project with the San Francisco Zen Center. Plans call for a 221-residence community with […]
While for-profit senior living providers are still expanding at a much more rapid pace, nonprofits are continuing to gain scale and sophistication in the midst of Covid-19, and are strategizing about how best to compete and command market share coming out of the pandemic. The “optimum” nonprofit senior living system of the future likely will […]
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