Post-Acute & Senior Living: Q2 assisted living growth rate of 3.1 percent was fastest since at least 2007
ANNAPOLIS, Md. – New construction of assisted living facilities during Q2 grew at the fastest rate recorded since analysts started keeping track seven years ago. The inventory of assisted living facilities grew by 3.1 percent last quarter, according to a July 11 news release from the National Investment Center for the Seniors Housing & Care […]
Post-Acute & Senior Living: More Post-Acute and Senior Living News
■ Fourteen investment funds affiliated with Fortress Investment Group on June 2 sold almost 17.6 million shares of Brookdale Senior Living (NYSE: BKD) stock, according to a recent U.S. Securities and Exchange Commission (SEC) filing. New York-based Fortress, a major shareholder since Brentwood, Tenn.-based Brookdale’s initial public offering (IPO) in late 2005, sold at an […]
Post-Acute & Senior Living: Activity picking up in CCRC space
New, expanded and renovated communities suggest market might be rebounding By Murray W. Wolf The continuing care retirement community (CCRC) was one of the hardest hit healthcare real estate (HRE) product types during and after the housing crash, financial crisis and Great Recession. Many seniors wanted to move to CCRCs at that time but were […]
Post-Acute & Senior Living: More Post-Acute & Senior Living News
Institutional Property Advisors (IPA), a brokerage division of Marcus & Millichap, says it recently arranged the $20.5 million sale of the 240-bed Sunnyview Nursing and Rehabilitation Center nursing home in Butler, Pa. IPA Senior Director Joshua Jandris, Executive Director Mark Myers and Associate Charles Hilding represented the seller, Butler County, Pa. , along with Matthew […]
Post-Acute & Senior Living: Ventas Inc. agrees to pay $900M for 29 Canadian independent living assets
CHICAGO – You wouldn’t expect a $900 million acquisition to be upstaged by another deal – especially one revealed the same day by the same company. But that was arguably the case June 2 when Ventas Inc. (NYSE: VTR) announced an agreement to acquire 29 Canadian senior living communities from Holiday Retirement.
Post-Acute & Senior Living: Panel epitomizes changing times
NIC discussion tackles retail clinics, PPACA and post-acute care partnerships By Murray W. Wolf It was a panel discussion that couldn’t have happened 10 years ago. The topics covered in the opening general session of the recent National Investment Center for the Seniors Housing Industry (NIC) Regional Conference would have seemed in early 2004 to […]
Post-Acute & Senior Living: More Post-Acute and Senior Living News
LCB Senior Living LLC of Norwood, Mass., plans to develop a 72,600 square foot, 90-unit assisted living and Alzheimer’s care community at 6 Sally Sweets Way in Salem, Mass. Plans call for 64 assisted living residences and a 26-bed Alzheimer’s care unit to be developed on a 7-acre, wooded site next to the Ingram Senior […]
Post-Acute & Senior Living: Enterprise Builders’ healthcare projects going strong in New Mexico
ALBUQUERQUE, N.M. – Enterprise Builders Corp. of Albuquerque has just completed a 52,000 square foot SNF and ALF near the southeast corner of Coors and Rio Bravo Boulevards in Albuquerque — a major milestone for the 80-acre mixed-use Las Estancias development. The development also will include a variety of retail shops and small and large […]
Post-Acute & Senior Living: Methodist Retirement to break ground for $74 million Houston area community
LEAGUE CITY, Texas – Methodist Retirement Communities, a not-for-profit service ministry which operates affordable housing and senior living communities in several Texas cities, announced that it is breaking ground on The Crossings senior community in League City. The $74 million community, which will be built on 18.8 acres near FM 270 (Egret Bay) and FM […]
Post-Acute & Senior Living: Brooks Rehab continues skilled nursing construction spree in Jacksonville, Fla.
JACKSONVILLE, Fla. – Jacksonville-based Brooks Rehabilitation announced that it is continuing its “aggressive” program of building SNFs in the Jacksonville area. It will develop a $13.6 million, 80,000 square foot facility across from its main hospital at University Crossing.
Post-Acute & Senior Living: TriHealth to consolidate rehab services and staff into new Cincinnati hospital
CINCINNATI – TriHealth, one of the largest integrated health systems in Greater Cincinnati, announced that it will be working with joint venture (JV) partner Pennsylvania-based Select Medical, a provider of specialized acute and post-acute care, to develop a $17 million building that will house a new TriHealth Rehabilitation Hospital. TriHealth will occupy 60,000 square feet […]
Post-Acute & Senior Living: Nebraska housing developer and contractor to build senior rental complex in Ohio
HILLIARD, Ohio – Lincoln, Neb.-based sister companies Resort Lifestyles Communities Inc. and Cameron General Contractors Inc. are developing a $27.3 million, 174,500 square foot independent living apartment complex at 4160 Trueman Blvd. in Hilliard, about 12 miles northwest of Columbus, Ohio. This is the first time the Nebraska companies, which build, own and manage independent […]
Post-Acute & Senior Living: Presbyterian Homes to develop senior community and clinic in Hudson
HUDSON, Wis. – Presbyterian Homes & Services, a Roseville, Minn.-based non-profit, faith-based housing developer, announced that it will develop a 160-unit senior housing and assisted living community and a clinic adjacent to the Hudson Hospital campus near Interstate 94 in Hudson. The cost for the project is estimated at $40 million to $42 million. Presbyterian, […]
Post-Acute & Senior Living: RBS Citizens Financial leads $97 million financing for Fellowship Senior Living
BASKING RIDGE, N.J. – RBS Citizens Financial Group, one of the 15 largest commercial banking companies in the country, has been selected to lead a $97 million financing for Fellowship Senior Living in Basking Ridge. The transaction will enable the CCRC to expand and renovate its facility as well as refinance its existing bonds to […]
Post-Acute & Senior Living: More Senior Living News
Virginia-based senior housing developer Smith/Packett Med-Com LLC is planning to build a 102-unit, 90,000 square foot assisted living community on the corner of Victory Boulevard and Hampton Highway in Tabb, Va. This would be the first assisted living community in the county. The community will feature activity rooms, a commercial kitchen, dining room, a pub […]