Possible Foreclosure, Lawsuit Point to Further Signs of Financial Distress at Mainstreet

Two new developments point to signs of financial distress at Mainstreet. First, a former Mainstreet executive is suing the Carmel, Indiana-based organization, alleging that it terminated him in November 2017—“in plain violation” of his employment contract and “without cause”. The move, the plaintiff claims, was made so that Mainstreet could save money, as it was facing […]

Senior Housing Finance Activity: Ziegler, Ensign Group

Ziegler Closes $17.63 Million Valley Vista Care Corporation Financing Chicago-based investment firm Ziegler has provided $17,630,000 in series 2017A&B financing for Valley Vista Care Corporation. Valley Vista Care Corporation and Valley Community Housing Corporation are Idaho-based not-for-profit corporations and are the sole members of the Obligated Group. The Obligated Group operates 147 skilled nursing and […]

Senior Housing Investments & Transactions: Enlivant, Ensign Group

Enlivant Acquires Four Senior Living Communities In Indiana and Ohio Enlivant, a national provider of senior care services, has purchased three senior living communities in Indiana and one in Iowa, according to a press release. The terms of the deal were not disclosed. The new Enlivant communities are Elkhart Place (formerly Beardsley House) in Elkhart, […]

NHI on the Hunt for Skilled Nursing As Other REITs Flee

With some of the major real estate players making moves and taking shots at one another’s skilled nursing assets, one real estate investment trust (REIT) is standing its ground with its own skilled operators and continuing to increase its exposure in the space.  Tennessee-based National Health Investors Inc. (NYSE: NHI) is distinguishing itself among its […]

In the Pipeline: Senior Housing Construction Projects (11/19/15)

Construction: Planned Presbyterian SeniorCare Plans Memory Care Community for Pa.  Presbyterian SeniorCare this week announced plans to build a new memory care community—the first of its kind for Washington County, Pa. Woodside Place of Washington will be based on the Woodside Place of Oakmont community, one of the first residential Alzheimer’s care facilities in the […]

In the Pipeline: Senior Housing Construction Projects (10/29/15)

(Photo: Élan Westpointe in New Braunfels, Texas by Titan Senior Living) Construction: Planned Lakewood Manor CCRC Plans Expansion in Va. Virginia Baptist Homes recently announced a plan that will bring significant changes to Lakewood Manor, a continuing care retirement community (CCRC) in Richmond, Va. Although plans are currently in the research and development phase, Virginia Baptist […]

Senior Housing Investments & Transactions: NHI, LTC, Ziegler

NHI Acquires Ohio Assisted Living and Memory Care Community for $21 Million National Health Investors (NYSE: NHI) announced on Aug. 3 that its NHI-Bickford Senior Living joint venture has acquired Fairfield Village, an assisted living and memory care community in Lancaster, Ohio, for $21 million in cash. The 92-unit Fairfield Village was built in 2006 […]

Senior Housing Investments & Transactions: Greystone, Avamere

Greystone Real Estate Advisors Close Sale on 180-Unit Property in Texas Greystone, a real estate lending, investment and advisory company, recently announced its Real Estate Advisors group has closed the sale of Aspens at Twin Creeks in Allen, Texas. Kayne Anderson Real Estate Advisors of Boca Raton, Fla., acquired the stabilized property from Cadence Capital […]

NYTimes: Boom in Post-Acute Care Creates Fatal Risks for SNFs

Investors are scooping up senior care facilities that are raking in Medicare dollars for post-acute care, but the rush to make money on these services might be putting patients’ health—and even lives—at risk, according to a lengthy New York Times article published Tuesday. Struggling with razor-thin margins for long-term care residents, skilled nursing facilities and […]

Senior Housing Investments & Transactions: Capital Senior Living

American House Acquires Spring Lake, Michigan Community Bloomfield Hills-based American House Senior Living Communities is acquiring a 111-unit comment in Spring Lake, Mich., and has plans to renovate it, according to local reports. The community, now American House Lloyd’s Bayou, contains a mix of one- and two-bedroom apartments that range in size from 670 to […]