Sunrise avoids bankruptcy – for now
SENIOR LIVING FIRM BUYS TIME TO STRUCTURE NEW LONG-TERM FINANCING DEAL By Murray W. Wolf When a market leader like General Motors Corp. (NYSE: GM) teeters on the edge of bankruptcy, it stokes concerns about the entire automotive industry. The same might be said of the senior living business, where bankruptcy could loom for the […]
Project Case Study: Senior Focus (April 2008)
ASL makes entry to independent living DEVELOPER, OWNER HAS THREE PROJECTS WITH 521 UNITS UNDER WAY IN CALIFORNIA By Dan Emerson Santa Ana, Calif.-based American Senior Living (ASL) has targeted three California cities whose age and income demographics make them fertile ground for independent living communities: Tarzana and Tustin, near Los Angeles, and Daly City, […]
Financing & Investment (January 2006)
Beverly Enterprises Inc. (NYSE: BEV) of Fort Smith, Ark., announced Nov. 21 that financing commitments related to its previously reported merger process had been fulfilled, including receipt of a $350 million equity commitment and a $50 million letter of credit. The company has entered into an amended merger agreement at a revised all-cash price of $12.50 per share. Under the amended agreement, Fillmore Strategic Investors LLC, an affiliate of Fillmore Capital Partners – a private equity firm focused on investments principally in the lodging and healthcare sectors – will replace North American Senior Care (NASC) and its affiliates as the acquiring entity.
Product Focus: Senior sales still brisk
Plenty of Capital is Available for Acquisitions By Jessica Griffith Investors are snapping up senior living developments in reaction to strong market conditions, and the shopping cart isn’t likely to park itself any time soon.
Post-Acute & Senior Living: Some senior properties are aging, too
Here’s How One Eugene, Ore., Retirement Community is Being Revitalized By Jessica Griffith Like their residents, senior living properties are getting older, and that can create a significant challenge for their owners and investors. Although independent and assisted living properties are changing hands at a rapid rate, few new developments are in the pipeline and some of […]