Senior Housing: HUD makes $20m offer to builders as part of assisted living program.
The U.S. Department of Housing and Urban Development today announced the availability of $20 million to help convert multifamily apartment complexes into assisted living facilities for low-income senior citizens.
The funding is offered through HUD’s Assisted Living Conversion Program will provide grants for the physical conversion of eligible multifamily assisted housing projects or portions of projects [...]
Student Housing: Campus Administration Forecloses on Student Housing
What’s Occidental going to do when it can’t house all of its students? The question is a ticking time-bomb. Oxy is heading towards a housing crunch as the largest freshman class to ever enter Oxy, the class of 2013, is subject to the new requirement that students must live on campus for their first three [...]
Read more →Healthcare: County Council approves sale of Health Department building
Allegheny County Council last night approved the sale of the county Health Department building in Oakland, which developers intend to tear down to make way for a new hotel, office building and parking garage.
Council members said the sale of the building at 3333 Forbes Ave. and the three-acre property will bring the county $4.9 million [...]
Senior Housing: Texas firm buys assisted-living center in Tulsa
The Fort Worth-based senior living company The Covenant Group $5paid.7 million for the Aberdeen Heights assisted-living center in Tulsa. That marks a 37-percent plunge from the $9.05 million Sunwest Management of Salem, Ore., shelled out for the 84,650-square-foot facility
in April 2007, one of many Sunwest bought in the Sooner State during a decade of rapid [...]
Student Housing: UGA Student Apartments Sell for $11M
ATHENS, GA-University Apartments on Riverbend, a 154-unit student housing complex near the University of Georgia campus, has been purchased by Chicago-based Cardinal Group Investments LLC for just over $10.8 million. The transaction includes a $9.7-million assumable conduit loan.
The complex, which totals 495 beds and is being renamed The U on Riverbend, last sold in 2006 [...]
Senior Housing Properties Trust Announces Results for the Periods Ended September 30, 2009
NEWTON, Mass.–(BUSINESS WIRE)–Senior Housing Properties Trust (NYSE: SNH) today announced its financial results for the quarter and nine months ended September 30, 2009, as follows:
Results for the quarter ended September 30, 2009:
Funds from operations, or FFO, for the quarter ended September [...]
Healthcare: Sumner Health tries to sell 20 properties
Struggling system hopes restructuring shores up its finances
GALLATIN — In boom times, Sumner Regional Health Systems went on a buying and building spree, snapping up properties, including land near its flagship hospital here, with plans to keep expanding.
Now, as part of restructuring to shore up its finances, the parent organization of Gallatin’s Sumner Regional Medical [...]
Senior Housing: Sunrise Sells 21 Assisted Living Communities to Brookdale Affiliate
Sunrise Senior Living, Inc. (NYSE: SRZ) announced that it has entered into an agreement to sell 21 wholly owned assisted living communities, located in 11 states, to BLC Acquisitions Inc., an affiliate of Brookdale Senior Living Inc. (NYSE: BKD), for $204 million. The portfolio has a total of 1,389 units, comprised of 92 independent [...]
Read more →Healthcare: Medical Office Projects Keep Rolling
DENVER-Medical office building development in the US keeps rolling along despite the recession. It’s been widely reported that medical office properties are maintaining their occupancy and performing better than general office buildings; in the development arena, new medical office buildings continue to spring up despite the virtual standstill in general office construction.
Among the recent examples [...]
Student Housing: University Gateway, USC’s Premier Student Housing Facility, Ahead of Schedule
LOS ANGELES, Oct. 21 /PRNewswire/ — Los Angeles developer Urban Partners
today announced that its flagship student housing development, University
Gateway, is progressing ahead of schedule.
“Our construction team is working very hard and has recently completed the
second floor units. We are now about 2 months ahead of our planned development
timeline and making great progress.” said Urban Partners [...]
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