Mainstreet Announces 3 New Hires Mainstreet, a Carmel, Indiana-based development and investment company, announced three new hires for the month of April. Scott Juetten has been named Mainstreet’s new vice president of financial operations for Mainstreet Health. He previously worked for Kindred Healthcare, where he was vice president and controller of the nursing center division. Mainstreet […]
HUD
A former senior housing operator with a troubled past is taking steps to arrive in greener pastures. AdCare Health Systems, Inc.’s (NYSE: ADK) board of directors is reviewing strategic alternatives for the company with the help of St. Louis-based financial advisory firm Stifel, the self-managed health care real estate investment company announced Tuesday. “AdCare is at […]
Capital One Appoints SVP, Chief Underwriter for Multifamily Finance Capital One announced the appointment of Cortney Mauldin as senior vice president and chief underwriter for multifamily finance. In this role, Mauldin will be responsible for the oversight and quality control of all underwriting functions related to Federal Housing Administration (FHA) insured transactions, including health care and senior […]
The Ensign Group Announces $250 Million Revolving Credit Facility The Ensign Group, Inc. (Nasdaq: ENSG), which is based in Mission Viejo, California, announced that Ensign and its operating subsidiaries have boosted its revolving credit facility by $100 million to an aggregate of $250 million, $105 million of which was drawn as of Feb. 1. The credit […]
Cushman & Wakefield Arranges $53.4 Million in Construction Financing for LCB Senior Living Developments in Massachusetts Cushman & Wakefield Senior Housing Capital Markets, a global real estate services firm, has arranged $53.4 million loan in construction financing and joint venture equity for LCB Senior Living’s two senior housing developments in Massachusetts. The Residence at Vinnin Square […]
Amid recent reports of patient harm and a lack of oversight within nursing homes, a new law could start holding nursing homes more accountable for low quality ratings. The Nursing Home Accountability Act, sponsored by U.S. Rep. Mark Walker (R-NC), aims to cut nursing homes with the lowest scorers from Department of Housing and Urban […]
Walker & Dunlop Arranges $39.7 Million Loan in Honolulu, Hawaii, $5 Million Construction Loan in Murfreesboro, Tennessee Walker & Dunlop, Inc. (NYSE: WD), a commercial real estate finance company providing financing and investment sales to owners of multifamily and commercial properties, announced it arranged a $39.69 million loan for Plaza at Pearl City in Honolulu, […]
Health Care REIT Purchases $56.7 Million Fort Collins Complex Health Care REIT (NYSE: HCN) purchased a senior living complex in southeast Fort Collins, Colorado for $56,740,000. The Ohio-based REIT bought the property, MacKenzie Place on Aug. 31, marking its eighth senior housing purchase in Colorado. The property is located at 4750 Pleasant Oak Drive and […]
As part of its ongoing plan to transition out of senior housing operations, AdCare Health Systems, Inc. (NYSE MKT: ADK) has signed agreements with third-party operators to lease seven of its skilled nursing facilities in Georgia and Ohio. The lease on the five facilities in Ohio will be effective upon securing approval from the Department […]
After a blockbuster year for The Department of Housing and Urban Development’s (HUD) lean mortgage insurance program in senior housing, volume fell more than 25% in fiscal year 2014, marking the end of a boom for government financing in the sector. But the news isn’t all bad, say the finance companies that work regularly with […]