Brookdale Senior Living Launches $500 Million Building Expansion Program
After a two-year buying binge, industry giant Brookdale Senior Living is shifting gears with a $500 million program to expand existing facilities. The change comes at a crucial point for Chicago-based Brookdale (NYSE:BKD), which currently operates 550 seniors housing buildings with more than 51,000 residents in 35 states....
Investors Rethink Strategies Amid Credit Crunch
What's the best strategy: To own and operate, or to lease and operate? It's a question being revisited by seniors housing investors amid the current credit woes....
Emeritus Acquires More Buildings
On a buying spree, Emeritus Corp. agreed in mid-June to purchase 40 seniors housing properties for $482.5 million. Emeritus (AMEX:ESC) currently leases 32 of the buildings; the other eight properties are being leased by Summerville Senior Living. (Emeritus announced a merger agreement with Summerville last March.) The deal is expected to close by the end of August....
New Education Program Debuts As Seniors Housing Matures
Seniors housing is about to graduate to the next level. This fall, the Erickson School launches the first-of-its-kind master's degree program in aging services at the University of Maryland, Baltimore County (UMBC). The 15-month program is the latest phase in the evolution of the Erickson School, a relatively new institution that teaches the business management of aging services. ...
Canadian-based Chartwell Seniors Housing Bullish on U.S. Market
In search of higher returns, Chartwell Seniors Housing continues its big push into the U.S. market. In April, the giant Ontario-based real estate investment trust (REIT) acquired a portfolio of 24 retirement communities, plus leasehold interests in two other properties for $396 million (US) from Seattle-based Merrill Gardens LLC. ...
Burgeoning Home Care Services Market Presents Opportunities and Potential Pitfalls
In an effort to boost revenues and create a pipeline of new residents, building owners are testing the tricky market of home care services. Take, for example, Silverado Senior Living, a for-profit owner and operator of buildings for the frail and memory-impaired elderly....
Q&A: Lawrence J. Horan Spearheads Research Efforts at NIC
Since its founding in 1991, the nonprofit National Investment Center for the Seniors Housing & Care Industry (NIC) has become a fount of market data to decision-makers in the senior housing industry. NIC provides historical trends data on the industry both through its Key Financial Indicators, which report nationwide statistics, and its Market Area Profiles (NIC MAP) Data and Analysis Service that tracks properties in major metropolitan areas....
Equity, Tenant Groups Compete for Seniors Properties
As the number of people age 60-69 surges, the seniors housing industry is changing to accommodate their needs, according to a new report by Marcus & Millichap. ...
Burbank Retirement Hotel to Receive Upgrade
The Burbank Gardens Retirement Hotel, built in the mid-1980s, is undergoing renovations, thanks to its new owner VinCal Senior Housing, LLC. The Newport Beach-based senior housing operator recently acquired the eight-story, 115,000 sq. ft. property for $12.5 million in the city of Burbank, Calif....
Classic Residence by Hyatt Gives Cache to Seniors Housing
With roots in the hotel business, Classic Residence by Hyatt continues to expand its seniors housing holdings as its new $150 million continuing care project near Denver gets under way...
Seniors Are Back on Campus in University-Affiliated Housing
The Praxeis Group, a Jacksonville, Fla.-based developer and operator of continuing care retirement communities, has entered into a joint venture with Harrison Street Real Estate Capital to grow its brand of life-fulfilling communities (LFCs) affiliated with major universities across the U.S. ...
Developer Fills a Void in Seniors Housing Industry
Q&A with William B. Kaplan...
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