Of all the challenges senior living providers face during Covid-19, maintaining frontline staffing levels is one of the hardest and most expensive to address. The issue has many facets. The first is that, in looking after an at-risk population of older adults, senior living caregivers are also at an elevated risk for contracting Covid-19. In […]
New Senior completes $385M AL/MC Portfolio sale New Senior Investment Group (NYSE: SNR) completed the $385 million sale of its entire assisted living and memory care portfolio for a gross sale price of $385 million (the “Transaction”). Proceeds from the transaction, which was first announced last November, were used to reduce debt by approximately $360 […]
Lancaster Pollard Helps Two California-Based Senior Living Providers Refinance Communities Lancaster Pollard recently helped two California-based clients refinance their senior housing properties using the Fannie Mae Seniors Housing program. First, Lancaster Pollard assisted Sterling Senior Communities in completing a $19 million refinance of Tanner Springs, a 115-bed assisted living and memory care community in Oregon. […]
(Rendering of Arcardia Senior Living, located in Bowling Green, Kentucky —Photo courtesy of Arcadia Senior Living) Construction: Planned Arcadia Community Planned in Kentucky A new senior housing community in Bowling Green, Kentucky is being planned by Arcadia Communities. The community will be constructed on a seven acre portion of land and will encompass 80,000 square […]
(Rendering of a new Allegro Senior Living community under construction in Orlando, Fla. — photo courtesy of Allegro Senior Living, LLC) Construction: Planned National Church Residences to Break Ground Next Week for $35 Million Ohio Project National Church Residences, a not-for-profit senior housing provider, plans to break ground May 9 for Inniswood Village, a new senior living […]
Capital One Named Top Lead Arranger for Health Care Leveraged Loans Up to $1 Billion Capital One has been named the No. 1 lead arranger for health care leveraged loans up to $1 billion in size, according to Thomson Reuters. The acquisition of GE Capital’s Healthcare Financial Services lending business, which held the top spot […]
Would you convert senior housing units into assisted living, if doing so would lead to refinancing problems down the line? In the past, some providers faced this choice. But that has changed, thanks to new rules under a U.S. Department of Housing and Urban Development (HUD) program. The Assisted Living Conversion Program (ALCP) provides grants […]
Chartwell Acquires Five Premier Ontario Residences for C$254 Million Chartwell Retirement Residences, Canada’s largest owner and operator of seniors housing, has entered into a definitive agreement to acquire five premier retirement residences in Ontario, Canada, for an aggregate purchase price of C$254 million from five distinct groups of vendors. The properties include Hollandview Trail Retirement Community in […]
(Rendering of Westminster of Dallas — Photo courtesy of Riverwood Retirement Management Inc.) Editor’s note: Senior Housing News will be observing the Labor Day holiday on Monday, September 7, but will return to our normal posting schedule Tuesday, September 8. In the meantime, everyone here at SHN would like to wish all of our readers […]
(Masonic Village at Lafayette Hill – Photo courtesy of Masonic Villages) Construction: Planned Immanuel Lutheran Communities Plans Senior Housing Community for Montana Not-for-profit organization Immanuel Lutheran Communities, in partnership with Mountain Plains Equity Group, have developed plans to build a new senior living apartment complex on 4.2 acres at 41 Meridian Court near downtown Kalispell in […]
