 IN THIS
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Outperform the competition with Yardi Voyager™, the
industry's leading fully-integrated senior housing property and
investment management software suite. For more information, click
here.
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Seniors News
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Discount
Buying Opportunities Rise As Economy Falls
By Jane Adler
 Bad economic times can create great buying
opportunities for smart seniors housing investors like Five Star Quality
Care. In early December, the Newton, Mass.-based company acquired seven
bankrupt seniors housing facilities owned and operated by affiliates of
troubled Sunwest Management of Salem, Ore.
Five Star paid $44 million for the buildings. Four properties are in
North Carolina, another three are in South Carolina. The buildings
include a total of 601 units, most of which are assisted living
apartments.
"It was an attractive deal," says Tim Bonang, director of investor
relations at Five Star Quality Care. Under the terms, Five Star paid
about $73,000 per unit. Bonang says Sunwest outbid Five Star two years
ago for the same properties. That was "amidst a frothy market," recalls
Bonang. Read
full story here.
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Principle Valuation specializes in the seniors
housing industry. Our team has completed valuations, market studies, and
other services for thousands of communities, assisting our clients with
acquisitions, insurance, litigation, and conventional or FHA 232
financing. Contact us for your seniors housing valuation needs
including the new 232 Lean Program. http://www.principlevaluation.com/
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Developer
Bucks Trend In Frail Business Climate
By Jane Adler
 As developers shelve plans for new projects because of
the struggling economy, one company is forging ahead. Spectrum
Retirement Communities plans to start three new rental buildings in
2009. Three other projects are now under construction.
"We feel confident we have the right formula," says Lynn Wallace, vice
president of marketing at Denver-based Spectrum. Still, she admits the
economy has curbed development activity at the company, which had
previously planned to build twice as many new buildings in 2009.
Construction of new seniors housing units has slowed over the last year
because of the credit crunch, according to a report by the American
Seniors Housing Association and the National Investment Center for the
Seniors Housing & Care Industry (NIC). Though projects already under
construction are expected to open in the next two years, new product
should be scarce after 2011. Read
full story here.
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Set your investment strategy off on the right
foot in 2009!
Set your investment strategy off on the right foot in 2009!
Hear nationally recognized real estate economist, Richard Dekaser,
discuss his national housing forecast for the year. NIC research
experts will then relate how this impacts seniors housing & care
Click here for information: www.nic.org
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Q & A
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Good
Facility Design Incorporates the Outdoors, Says Researcher
By Poonkulali Thangavelu
 Contrary to public perception, residents in seniors
housing communities like to spend time outdoors, but often the design of
facilities hampers the mobility of older adults, according to Susan
Rodiek, a professor of health facilities design at Texas A&M University.
The National Investment Center for the Seniors Housing & Care Industry
recently honored Rodiek for her research in evaluating seniors living
environments. An architect by training, Rodiek studied seniors who are
not able to choose their environment but who are still interested in
spending time outdoors. Rodiek, who also is developing a series of DVDs
that sum up her research, talked to NREI about her findings and the
implications for operators.Read
full story here.
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Cambridge Realty Capital Companies —
"Your First and Last Call in Senior Housing Finance"
Cambridge is a mortgage banking and investment firm specializing in
senior housing and healthcare facilities from apartments to hospitals.
We offer access to HUD-insured and conventional financing at up to 95%
loan to value. Call us today at 312-357-1601. Click here for more information.
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Roundup
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Seniors
Housing Tidbits
Staff report
Wachovia Completes $11.2 Million Refinancing
of Hillsborough Village
Komar Investments, a multi-million holding company based in Newport
Beach, Calif. that is engaged in a variety of public and private
investments, has successfully refinanced an $11.2 million loan on
Hillsborough Village, a senior living community in Chino, Calif.
Wachovia Multifamily Capital’s Fannie Mae group provided the
refinancing on the 196-unit property. The refinanced loan runs for a
six-year term, at a fixed rate of 5.82%. Holliday Fenoglio Fowler, a
commercial mortgage banker, placed the loan on behalf of Komar
Investments. Read
full story here.
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Now
in its third year, the Symposium provides educational sessions and
networking opportunities for local and regional operators and financiers
in the seniors housing and care industry. Gain insights into recent
market trends for 2009 and hear analyses from expert industry leaders.
Click here for more
information.
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