Business Daily News - McKnight's Senior Living

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Business briefs, Sept. 23

Long-term care industry emphasizes reconciliation priorities to House leadership … Fitch Ratings assigns BBB- issuer default rating to Odd Fellows; outlook stable … Fitch Ratings affirms Lifespace Community upgrades Querencia at Barton Creek … Carnegie Village Senior Living Community receives Capstone Award

Actions & Transactions, Sept. 23

$20M project approved to repurpose Dothan, AL, hospital into senior apartments … MassHousing provides $23.5M in financing for expansion of Golda Meir House … Des Moines, IA, management company garners $8.86M in advanced capital from HUD Section 202 program … Chicago Pacific Founders, Grace Management acquire Magnolia at Oxford Commons in Mississippi … Brightview Senior Living opens community in Columbia, MD

Business Briefs, Sept. 22

Ventas completes acquisition of New Senior Investment Group … S&P Global Ratings revises Welltower’s outlook to stable, affirms BBB+ Issuer Credit Rating … HUD to provide $4M to Virginia housing organizations, facilities for affordable senior housing … Fitch Ratings affirms Jefferson’s Ferry at BBB; outlook is stable … Genesis Health System to collaborate with tech, pharma companies

Actions & Transactions, Sept. 22

Tiderock Companies signs letter of intent with Port One Companies of Boston to co-develop a proposed 410 residential unit senior living community … Erickson-managed Maris Grove opens new assisted living neighborhood … Focus Healthcare Partners affiliate Life Care Services purchases Fountain View Village … Tradition Senior Living breaks ground on Tradition-Clearfork in Fort Worth, TX … Vector Solutions enters senior care industry with acquisition of CareSafely

Business briefs, Sept. 21

Developer, owners of eight senior living communities in five states to pay $450,000 for Fair Housing, ADA violations … Trinity Terrace achieves 100% vaccination compliance among 210 employees … CDC allocates $4.5M in new ARP funding to the Hawaii Health Department … Fitch Ratings downgrades East Ridge Retirement Village revenue bonds to CC

Business briefs, Sept. 20

FDA panel supports COVID-19 boosters for older adults, healthcare workers … PA Department of Human Services announces funding opportunities for long-term care system … Ensign Group declares quarterly dividend of $0.0525 per share … Carrington, West Bay donate $15,000 to fire department to pay for CPR device … Part of Iowa family’s $1M pledge will go to senior living community

Actions & Transactions, Sept. 20

HJ Sims closes $132.4M refinance for Benedictine Health System … $121M senior living complex to open in St. Louis area next month … Amsterdam at Harborside receives $40M in new financing … HUD awards almost $6M in grant money to a Toledo, OH, senior housing project … Mariner breaks ground in Marblehead, MA
Senior talking with adult child

Search to move-in usually takes six months or less: research

The majority (78.7%) of those searching for a senior living community or skilled nursing facility for themselves or a family member to move into are looking to relocate to a community in six or fewer months, according to recently published research by Seniorly.
Zach Shamberg headshot

Long-term care association decries state’s proposed staffing requirement as ‘unfounded, unfunded, unattainable’

A proposed regulation that calls for Pennsylvania skilled nursing facilities to increase minimum direct staffing hours from 2.7 hours per resident per day to 4.1 would require 7,000 new workers and result in approximately $400 million in new costs, Pennsylvania Health Care Association President and CEO Zach Shamberg testified Wednesday to the state Senate Aging & Youth and Health & Human Services Committees.

Business briefs, Sept. 17

SafelyYou accelerates growth by closing $19.5 million Series A funding round … Executives report skilled nursing occupancy dip in latest NIC survey … San Francisco leaders approve protections for residential care facilities … PA General Assembly announces $278M in American Rescue Plan funds for nursing facilities, personal care homes and assisted living communities … Nursing home aides least likely workers to be fully vaccinated against coronavirus

Actions & Transactions, Sept. 17

CareTrust REIT announces quarterly dividend of $0.265 per share … HUD awards $3.2M to Maine county authority for housing for low-income seniors … NY senior living community plans $1.6M expansion … Lument Securities advises Philadelphia-area CCRC on sale to private operator … Pride Place affordable housing for LGBTQ+ seniors to open on Puget Sound … Mayfair Apartments cuts the ribbon on affordable senior housing complex
Man checking indoor air quality

‘Holistic’ approach can address communities’ infrastructure needs

Skilled nursing facilities, assisted living communities and other types of senior living and care providers can work with a partner to leverage a modern funding method, mitigate risk, create cost efficiency and use technology to improve infrastructure. That’s according to Mary Fox, vertical market director of living spaces at global diversified technology company Johnson Controls, which has a U.S. headquarters in Milwaukee.

Business briefs, Sept. 16

Argentum expands training program to leadership roles, sets overall goal of 7,200 apprentices by 2024 … Judge blocks New York vaccine mandate over lack of religious exemption … Monastery Heights assisted living community gets new owner

Actions & Transactions, Sept. 16

Greystone provides $18.8M in financing for 136-unit senior housing community … Medcore sells Birchview Memory Care in Washington … Ryan Companies breaks ground on 192-unit senior living community in southern Florida … Bear Creek Nursing and Rehabilitation Center celebrates 40th anniversary

Business briefs, Sept. 15

New Senior Investment Group stockholders approve merger with Ventas … Union doubles down on support for Biden’s Build Back Better plan with $3.5 million TV and digital ad buy … Business groups urge WA governor to intervene ahead of LTC insurance tax … Clearwater Living, Berkshire Realty Venture to invest $1B in senior living development, acquisitions … K4Connect announces release of Alexa Management APIs for multimodal experience for residents, staff

Actions & Transactions, Sept. 15

Capital Funding Group closes $262.6M refinancing for tri-state LTC portfolio … Bellwether Enterprises closes $35M in affordable housing loan deals in TN, MD and IN … Mountain Pacific Bank provides $5M loan to complete acquisition financing for Tacoma memory care community

Business briefs, Sept. 14

Brownsburg Health Care Center celebrates 50th anniversary … Fitch Ratings assigns A- issuer default rating to Sun Health Services Obligated Group; affirms outstanding revenue bonds … OnShift, Viventium partnership adds payroll and HRIS to OnShift’s human capital management product suite … Glennis Solutions unveils new offerings at Argentum … VoiceFriend announces partnership with Accushield to automate resident and family notification of visitors

Actions & Transactions, Sept. 14

Prevail Homes holds ribbon-cutting ceremony for Florida community … Former Ohio convent repurposed for assisted living … Riverview Senior Living breaks ground in Alaska

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