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 Investments & Transactions: Benchmark Senior Living

Benchmark Senior Living Buys CCRC Near Boston A continuing care retirement community (CCRC) near Boston has a new owner. Benchmark Senior Living, which is based in Waltham, Massachusetts, acquired New Pond Village, a 199-unit senior living community in Walpole, Massachusetts. National real estate services firm Cushman & Wakefield negotiated the sale. New Pond Village is an 199-unit entrance-fee CCRC that […]

In the Pipeline: Senior Housing Construction Projects (3/27/17)

Construction: Planned Senior Community Planned in California  Located in Morgan Hill, California, Steadfast Senior Living is planning a new community with 67 senior apartments for assisted living and memory care. The community will be 62,000 square feet and will have options of studio, one-bedroom and two-bedroom residences. The apartments will range between 400 and 1000 […]

Mainstreet Unveils New Model, Ushers In New Execs

Changes are afoot at Mainstreet. Mainstreet Property Group, the nation’s largest developer of skilled nursing/transitional care properties, has seen significant churn in its top leadership over the past several months. At the same time, the skilled nursing sector as a whole has been struggling through stiff industry headwinds. However, these issues are not holding back Mainstreet […]