Negotiations between the White House and congressional Democrats have stalled this week over the COVID-19 liability protections proposed for businesses, healthcare providers and schools in the $1 trillion Health, Economic Assistance, Liability, and Schools Act released Monday by Senate Republicans.
Investment Banking firm HJ Sims recently announced the successful closure of $6.6 million in financing for pre-development capital toward the pursuit of an expansion at the Raleigh, NC-based life plan community Samaritan Housing Foundation, Inc. d/b/a Searstone Retirement Community. The expansion will double the community’s size, while adding common and green spaces. But a banker who helped see the financing to fruition says it didn’t come without challenges amidst the current marketplace.
The COVID-19 pandemic has been taking a toll on Americans’ retirement plans, according to a new Nationwide Retirement Institute survey of more than 2,000 adults aged 18 years and older.
NIC launches skilled nursing COVID-19 tracker to highlight weekly change rate of virus … U.S. economy saw steepest contraction on record in second quarter … Hellenic Senior Living to open affordable assisted living community near South Bend, IN … Blueprint negotiates sale of New York seniors housing community, Texas SNF
Some industry leaders expressed disappointment this week over the latest coronavirus relief package introduced Monday by Senate Republicans.
Costs related to coronavirus testing forced Maryland state leaders to peg August 15 as the date the state will no longer be able to pick up the tab for mandatory weekly COVID-19 testing of nursing home staff. Instead, the facilities themselves will be forced to cover the cost, which can range from $100 to $125 per employee each week.
Business executives, including those within the seniors housing industry, likely can expect additional help from the Federal Reserve as the COVID-19 pandemic continues to take its toll on the nation’s economy.
Berkadia secured $50 million in loan closings for SNFs in June and July … Multi-million dollar expansion and renovation planned for life plan community on Manhattan’s Long Island … New venture capital fund to focus on products, services, technologies and experiences for older adults … Half of baby boomers are concerned about market risk of their retirement savings: survey … Benchmark Senior Living named of the most charitable companies in Massachusetts
With the National Basketball Association set to resume its season tomorrow, COVID-19 is forcing the league to focus on new ways of doing business. And there’s a lot seniors housing and care can learn from the NBA’s efforts, according to speakers at a National Investment Center for Seniors Housing & Care “Leadership Huddle” webinar Tuesday.
The Federal Reserve said Tuesday that it would extend its emergency lending programs through the end of 2020 to help the economy as it continues to struggle with the coronavirus pandemic. The announcement includes three-month extensions for both the Paycheck Protection Program and the Main Street Lending Program, both of which have been used by many long-term care operators.
When it comes to opening a new senior living community amid the uncertainty of COVID-19, flexibility and web-based tours are a must, according to operators who have done so.
Workplace COVID-19 testing costs likely to put major financial burden on essential workers … HJ Sims closes $29M in financing for Pennsylvania independent living community … Financial services firm Edward Jones commits $25M over next five years to the Alzheimer’s Association … Black-led private equity fund TPP Capital seeks $1B for initiative focused on improving the health of low-income, Black seniors
Responding to the challenges facing the senior living industry amidst the COVID-19 pandemic, real estate investment trust Ventas announced Monday the renegotiation of Brookdale Senior Living’s 121 community triple-net master lease arrangements.
Senate Majority Leader Mitch McConnell released the $1 trillion Republican coronavirus relief plan Monday afternoon, proposing a weekly reduction of $400 in the enhanced unemployment benefit for Americans who have lost their job due to COVID-19.
The Federal Housing Finance Agency recently proposed its 2021 housing goals for Fannie Mae and Freddie Mac.
Yale economists: No evidence that more generous unemployment benefits disincentivized return-to-work … Concerto, Ignite expand SNF dialysis partnerships in Wisconsin, Missouri … Kansas City senior living community wins capstone award … Monticello provides $20M in financing for Florida assisted living and memory care community
The pandemic’s effect on business deals continued in the second quarter as healthcare merger and acquisition activity fell 19%, to 327 transactions, compared with the previous quarter’s 404 announced deals, according to HealthCareMandA.com. M&A in the second quarter was also 33% lower than the same quarter in 2019.
Last week the U.S. Department of Health and Human Services released a notice acknowledging that more detailed Provider Relief Fund reporting guidance and materials will be released on Aug. 17. In the short, two-page document, HHS reiterated the reporting requirements included in the terms and conditions long-term care and other healthcare providers had to agree to as part of the funding award process.
The Department of Housing and Urban Development will offer one-time supplemental payments to owners of Section 8, Section 202 and Section 811 properties. The additional funding will help offset property expenditures for COVID-19 preparedness and response, according to a LeadingAge report Thursday.
Young adults weigh in on the future of seniors housing … Extended eviction moratorium could wreak havoc on investments in affordable housing … HUD terminates fair housing rule … Gardner Capital completes Houston-area luxury senior living community … Blueprint arranges sale of Oregon seniors housing community