VICTORIA, Minn. — Bethesda, a national Christian organization that provides homes and other services for people with intellectual and developmental disabilities, is opening Bethesda Cornerstone Village Victoria, located at 1519 82nd St. in Victoria, on Tuesday, Sept. 1. Offering apartments and villas, the community is restricted to adults age 55 or older and independent adults with intellectual and developmental disabilities. Bethesda Cornerstone Village Victoria will feature 37 apartment homes and 15 villa homes, with up to 20 percent of the residences serving people with a disability who live independently. Lutheran …
ANAHEIM, Calif. — Kisco Senior Living has hired Patricia Gustin as executive director of Emerald Court, a seniors housing community in Anaheim. Following her hiring, Gustin moved into the community to ride out the COVID-19 pandemic from inside. Gustin previously worked at another Kisco community in Fresno, nearly 300 miles away. Knowing it is critical for directors to know the team members they lead and the residents they care for, she decided to move into the community to live there among the residents, according to Kisco. Since starting at Emerald …
LAWRENCE, Kan. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 60-bed skilled nursing facility in Lawrence. The West Coast-based owner was looking to divest its only asset in Kansas. An owner-operator acquired the property for an undisclosed price.
It’s time to embrace the positive changes we’ve made in operations during this crisis. By Liz Jensen, Clinical Director, Direct Supply “If we had the right regulations in place before all of this happened, why did long-term care need waivers to take better care of people?” This question, in various forms, has been asked frequently in the past few months. For those who work within or receive services from the aging services sector in the United States, the hurdles involved in delivering care to older adults is not news. However, if there is one thing the COVID-19 pandemic has uncovered, it …
WASHINGTON, D.C. — Half of assisted living communities are currently operating at a loss, with 73 percent of them operating at a profit margin below 3 percent. The “frightening” revenue numbers reflect the even more dire results in skilled nursing, where more than half of communities are operating at a loss. That’s according to a recent survey by Washington, D.C.-based National Center for Assisted Living (NCAL). Respondents included 193 assisted living providers who took the survey between Aug. 8 and Aug. 10. Among other results, 64 percent of assisted living …
WASHINGTON, D.C. — The American Seniors Housing Association (ASHA) has confirmed that assisted living operators are due to receive funds from the United States Department of Health and Human Services (HHS) Provider Relief Fund. The D.C.-based organization, along with other advocates for the seniors housing industry, have been lobbying and petitioning for months to make sure private-pay seniors housing would receive federal stimulus dollars in response to the COVID-19 pandemic. “This morning we received the most definitive news to date about an allocation of funds from the HHS Provider Relief …
SAN DIEGO — Hunt Capital Partners and the Chinese Consolidated Benevolent Association (CCBA) have received $4.4 million in federal Low-Income Housing Tax Credit (LIHTC) and federal solar tax credit equity financing. The funds will be used for the acquisition and rehabilitation of CCBA Senior Gardens. Located in the Gaslamp district of San Diego, CCBA Senior Gardens is a four-story affordable apartment complex that will feature 45 newly renovated units for seniors age 55 and older. CCBA is the managing general partner, developer and guarantor for the project. Built in 1999 …
FLAGSTAFF, Ariz. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 50-bed skilled nursing facility in Flagstaff. Embree Asset Group developed the property in 2018 and entered a triple-net lease with Welbrook Senior Living. It is located less than one mile from downtown Flagstaff and the Flagstaff Medical Center. A nonprofit owner acquired the asset from Embree for an undisclosed price. The buyer also installed The Goodman Group as the operator.
SPARKS, Nev. — Operator Integral Senior Living (ISL) and owner Investcor Development plan to break ground this month on an assisted living and memory care community in Sparks, a suburb of Reno. Spanning 74,000 square feet, the property will feature 66 assisted living units and 24 memory care units. While the development has not yet been named, it will be located within Kiley Ranch, 675 acre master-planned development that includes a business park, retail/commercial district and residential neighborhoods surrounding a village center. The seniors housing development is scheduled for completion …
STONEHAM, Mass. — MassHousing has provided a $32.7 million refinancing for Mountain View Terrace, a 194-unit affordable seniors housing community in Stoneham, approximately 10 miles north of downtown Boston. The borrower is an affiliate of Atlantic Tambone Management, which will use the funds to preserve the community and expand the affordability for at least 31 more years. Atlantic Tambone Management refinanced Mountain ViewTerrace through MassHousing’s Multifamily Accelerated Processing (MAP)/Ginnie Mae Joint Venture Initiative with lender partner Rockport Mortgage Corp. MassHousing offers the MAP/Ginnie Mae loan program to the owners of rental housing …