A new senior living brand is on the scene—and it’s launching in buildings once run by the nation’s largest independent living provider. The Solstice Senior Living portfolio currently includes 32 independent living properties formerly operated by Winter Park, Florida-based Holiday Retirement. Solstice recently was formed through a joint venture between Carlsbad, California-based management company Integral Senior […]
NorthStar Healthcare Income
Solstice Senior Living is a new brand in the independent living space, created through a joint venture of management company Integral Senior Living and real estate investment trust (REIT) NorthStar Healthcare Income. Under terms of the JV agreement, 32 independent living properties owned by NorthStar Healthcare Income will come under the third-party management of Integral […]
RED Closes $20 Million Balance Sheet Construction Loan for Creekside Senior Living RED Capital Partners, LLC recently completed a $20 million Balance Sheet construction loan for the development of Creekside Senior Living, a Class A assisted living and memory care community with 129 units in Bountiful, Utah. Specifically, the loan was completed for Creekside Senior […]
The last year was marked by sky-high prices and low cap rates as reported by senior housing real estate investment trusts (REITs) in quarterly earnings calls, and now the numbers prove that perhaps they’ve been holding off on deals with reason. The average price for skilled nursing facilities soared to a new record of $85,900 per […]
This week on Senior Housing News, readers learned how Chicago-based Ventas Inc. (NYSE: VTR) is handling oversupply challenges and discovered the latest Griffin-American real estate investment trust (REIT) as it launched a $3.15 billion initial public offering. Readers also delved into the project that won 2015 Best Repositioning in the SHN Design Awards, and found out […]
James F. Flaherty III has resigned as vice chairman and board member of NorthStar Healthcare Income, dramatically scaling back his involvement in the real estate investment trust he initially joined as president and CEO two years ago. Flaherty’s resignation was effective immediately as of Feb. 9, according to an 8-K filing. The decision was personal and […]
NorthStar, Griffin-American Close on $1 Billion Trilogy Acquisition It’s official—the $1.125 billion acquisition of Trilogy Health Services LLC has been finalized. NorthStar Healthcare Income, Inc. on Tuesday announced the completion of the acquisition, pursuant to a joint venture with Griffin American Healthcare REIT III, Inc. Under the agreement, Griffin-American will own 70% of the joint […]
Interplay between skilled nursing facilities (SNFs) and assisted living communities is certainly nothing new, but some signs suggest it makes more sense than ever to co-locate these services. Yet, even with the implementation of the Affordable Care Act and further emphasis on moving patients through the continuum of care as efficiently as possible, industry leaders see […]
Skilled nursing facilities again are taking fire for patterns of Medicare billing related to therapy services. SNFs’ Medicare payments for therapy greatly exceed their costs, and the federal government should reevaluate the way that these providers are reimbursed, according to a report issued Wednesday by the Department of Health and Human Services Office of Inspector […]
This week, SHN readers delved deeper into the $1 billion acquisition of Trilogy Health Services LLC and learned who topped this year’s list of the largest senior housing owners and operators. Other top stories involved different technologies that help increase senior housing revenue and innovative programs aimed at upping senior living referrals. Here in the […]