Senior Living Developer Scores Legal Victory in EB-5 Case

An embattled senior living developer has notched a legal victory in a lawsuit involving the EB-5 program for foreign investors. Last June, the SEC filed a lawsuit against Taher Kameli and development groups he created, including Bright Oaks Group, alleging that they had mishandled and/or misused tens of millions of dollars raised from hundreds of […]

SEC Freezes Assets in Alleged $62 Million Assisted Living Investment Scheme

A South Carolina businessman has been accused of siphoning millions of dollars from funds he raised from investors that were earmarked for purchasing or renovating senior living facilities, according to a complaint from the U.S. Securities and Exchange Commission (SEC). The SEC alleges in a complaint that Dwayne Edwards, founder of Georgia-based Oxton Senior Living […]

SEC: Senior Housing Developer Stole $9.5 Million in EB-5 Scheme

The Securities and Exchange Commission (SEC) has sued a private equity group with senior housing ties for engaging in a $9.5 million scheme by defrauding investors. The fraudster allegedly stole millions to pay for his lavish lifestyle, including the purchase and maintenance of a yacht as well as supporting his other businesses. Emilio Francisco, a […]

REIT Launches Initial Public Offering, Reveals $600 Million Pipeline

A real estate investment trust (REIT) with a large post-acute care portfolio has filed for an Initial Public Offering (IPO). Nashville, Tennessee-based MedEquities Real Trust priced an IPO of up to 19 million shares that could bring up to nearly $321 million, according to public filings with the Securities and Exchange Commission (SEC). Share are set […]

Popular Senior Housing Investment Program Faces Uncertain Future

A popular financing program is under fire as a Congressional deadline looms. Lawmakers could extend the EB-5 investment and visa program or enact changes that could make it more difficult for U.S. developers to fund projects, including in senior housing. The EB-5 Regional Center Program allows foreign citizens to qualify for a U.S. residency visa […]

WSJ: State Regulators Reining in Nontraded REITs

Fundraising by nontraded real estate investment trusts (REITs) has tripled since 2009 — rapid growth that has led regulators in several states to push for restrictions on the industry, The Wall Street Journal reports. Previous reports indicated that nontraded REITs would play an integral role in shaping the senior housing merger and acquisition landscape this […]