Home Health Care vs. Seniors Housing
We are faced with a question that affects, and will affect, a senior’s choice in care. When is care at home both appropriate and cost effective, and at what point is it time to move into seniors housing? On January 19th, we hosted a webinar called “Home Health vs. Seniors Housing,” where a panel including moderator Steve Monroe of The SeniorCare Investor, Rita Altman of Sunrise Senior Living, William Dombi of The National Association of Home Care & Hospice and Debbie Reilly of Belmont Village Senior Living discussed the competing and complementary roles these two levels of care provide in the health care continuum. If you are interested in hearing the conversation, here’s the 90-minute... Read More »
Florida CCRC operator receives a $160 million refinance
When the largest operator of CCRCs in the state of Florida wanted to refinance in order to take advantage of the low interest rate environment, HJ Sims was happy to oblige. Presbyterian Retirement Communities, Inc., or Westminster Communities of Florida, with 2,025 independent living, 468 assisted living and 751 skilled nursing units in its portfolio, is not only the largest CCRC operator in the Sunshine State (with nine), but is also the 10th largest not-for-profit operator of senior living units in the country. Founded in 1954, the organization targets the middle income market, with entrance fees ranging from $44,100 to $357,000, and averaging at $120,600. Westminster already worked with... Read More »Cambridge Realty Capital On a Roll
When it rains, it pours for Cambridge Realty Capital Companies, which announced a succession of three loan closings throughout the middle of the country. First up, the firm arranged $5.32 million in 24-year HUD financing for a Missouri LLC to refinance its 114-bed skilled nursing facility in Crystal Lake, Illinois. Then, down to Kansas City, Missouri, a 162-bed facility owned by a Missouri limited partnership also refinanced with a $4.02 million 25-year HUD loan. These closings come a month after Cambridge worked with Aron Will of CBRE to secure $30 million from a national bank to refinance a portfolio of four seniors housing communities in the El Paso, Texas area. Managed by 12 Oaks... Read More »
Medicaid Block Grants Coming Soon
Many skilled nursing operators will not like the aspect of repeal and replace that could introduce Medicaid block grants. The prospect of Medicaid block grants has been lurking in the background for many years, a few decades perhaps. With the new Trump administration now installed, block grants of Medicaid funds to each state seem to be on the front burner as part of the repeal and replace of the ACA. Block grants would be just that, a fixed pool of money from the federal government that each state would decide how to spend on its Medicaid beneficiaries. Many skilled nursing operators have feared that prospect, because they fear they will be the last ones to be paid. And they may be right,... Read More »Schedule a demo
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