Atria CEO Moore, Senior Living Developer Reis Bullish on Hotel Conversions

Prominent figures in senior living development and operations see a growing opportunity for hotel conversions, including in the highly competitive New York City market. “I think … looking to buy defaulted hotel notes and turning hotels into CCRCs will clearly come to the Upper West Side, the East Side, and into Manhattan,” Senior Care Development […]

Luxury Highrise CCRC The Clare Sold for Reported $105M

A high-profile continuing care retirement community (CCRC) in Chicago that rebounded after financial and operational difficulties years ago has been sold for a reported $105 million. Des Moines, Iowa-based senior living company LCS and Harrison, New York-based Senior Care Development have bought private-equity firm Fundamental Advisors’ 75% stake in the 334-unit community in Chicago’s Gold […]

Developers Gain Upside with Senior Living, University Tie-Ins

University partnerships have long garnered interest among senior housing developers, driven by a built-in intergenerational component, availability of land and the opportunity to establish shared synergies between communities and the schools. As this trend develops, these joint ventures are bringing senior housing communities closer to the central campus, laying the groundwork to creating tomorrow’s intergenerational […]

LCS, Purchase College Building $320 Million, On-Campus Independent Living

A growing number of colleges are building senior housing near their campuses. Now, one New York school is going a step further, building a community on its campus. Purchase College — part of the State University of New York system (SUNY) — recently announced plans for Broadview Senior Living at Purchase College. The Purchase, New […]

Transactions & Financings: Ziegler Arranges Bond Financing, Arcapita Grows U.S. Portfolio

Ziegler Arranges $200.6 Million Bond Financing Ziegler announced the closing of the Trousdale Foundation Properties $200,570,000 Series 2018 bonds. Ziegler served as the underwriter and placement agent for the bonds which were issued in various series including tax-exempt senior, taxable senior and tax-exempt subordinate bonds. Proceeds from the bonds were used to finance the acquisition and […]

In the Pipeline: Senior Housing Construction Projects (10/9/14)

Construction: Planned Developers Plan $10 Million Senior Housing Project for Kokomo, Ind. The NRP Group LLC, a Cleveland, Ohio-based developer, this month announced plans to pursue a $10.2 million senior housing project in Kokomo, Ind., reports local Kokomo Tribune. NRP will submit a proposal to the Indiana Housing & Community Development Authority for housing tax […]

Offering Options for CCRC Entrance Fee Refunds: Savvy, or Not So Much?

With the economic downturn and housing market decline, more continuing care retirement communities (CCRCs) are offering alternative entrance fee refund options to help attract prospective residents, but while many say it’s good business to do so, not all have adopted this practice. There’s a clear trend toward communities offering 50% and even 0% refund options […]

High Profile Bankruptcies Will Change Future of CCRC Financing

Many non-profit continuing care retirement communities (CCRCs) have enjoyed getting 100% financing for their properties in the past, but that could change going forward, according to panelists speaking at SHN’s first annual Senior Housing Summit in July. LeadingAge, a non-profit advocacy group of senior living providers, says 80% of CCRCs are non-profit, and while most […]

Four-Year Forecast for CCRCs: Cloudy With a Chance of Financial Distress

A few high-profile bankruptcies by continuing care retirement communities have made waves in the senior housing industry, and there’s more drama to come—for at least four more years, says a New York-based owner-developer of CCRCs who specializes in acquiring distressed assets. During Senior Housing News’ inaugural Senior Housing Summit, held last Thursday in Chicago, Ill., […]