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June 2008
An Internal Developer Arm Keeps Fees In-House--
Franciscan Sisters of Chicago Completing Sixth Project as Developer
Franciscan Sisters of Chicago is completing its sixth project as a developer
and is banking millions of dollars it would otherwise have paid in fees to
someone else.
ACTS
Acquires CCRC in Huntsville, Alabama--
Owner/Operator/Developer Buys and Renames Bankrupt Community
The nation’s largest not-for-profit
owner, operator and developer of CCRCs just closed its third acquisition —
this one a bankrupt property at auction.
May 2008
Strategies For Coping In An Uncertain Economy--
Spectrum Marketing Shares New Study Findings And Helpful Tips
Spectrum Marketing just did a study on the economy’s effects on occupancy
levels. Learn the result and some strategies for getting through this
uncertain period.
Pacific Retirement Services Ventures
East--
Wisconsin CCRC Purchase Is The First For PRS’s Atlantic Division
PRS just purchased Meriter
Retirement Services, a Wisconsin CCRC. Renamed Capitol Lakes, this is the
company’s first venture east of the Mississippi.
April 2008
Benchmark: Know Where Your Business Stands--
And Look At Non-Traditional Benchmarks To Tell Your Whole Story
Lancaster Pollard’s Tanya Hahn
gives benchmarking guidelines and points out some non-traditional benchmarks
that are particularly important for not-for-profits.
Tips For
Controlling Construction Costs--
In Atlanta, Lenbrook Square’s New Tower Is On Time And On Budget
Lenbrook Square, an Atlanta CCRC,
is constructing a new 25-story tower that will double the community’s size.
The project is on time and on budget. Debbie Taylor, president and CEO,
shares some tips for controlling construction costs.
March 2008
Dealing With Credit Stress In Today’s Market--
Challenges For Providers And Ways To Avoid Or Address Them
Michael D. Kelly, director at
Ziegler Capital Markets, points out financial challenges for providers in a
deteriorating market and suggests ways to avoid or address them.
...
Making
Hospice Work... Really Work!--
The Hospice Of The Florida Suncoast Goes From Zero To ‘Top Dog’
The Hospice at Florida Suncoast has
grown from a handful of patients and volunteers to thousands of patients,
staff, volunteers, and a budget to match. President and CEO Mary J. Labyak
tells how.
February 2008
System With Varied Assets Focuses On LTC--
Benedictine Health System Reorganizes, Sheds Acute Care Operation
Since January, Benedictine Health System has focused only on long-term care;
its acute care interests have been moved to a new subsidiary of Essentia
Health.
Reinvent
Your CCRC To Remain Competitive--
The Evergreens Embarks On Its Second “Reinvention” In 10 Years
In its second “reinvention” in 10
years, The Evergreens in Moorestown, New Jersey, is focusing on services and
relationships, not bricks and mortar.
January 2008
Mitigate Risk In Repositioning Projects--
Strategies And Best Practices To Better Navigate The Financing
By their very nature, repositioning projects involve considerable risk.
Brian Pollard, president of Lancaster Pollard, shares some effective
strategies for mitigating those risks and actionable best practices for
negotiating repositioning projects.
Mixed
Funding For Affordable Housing--
Cabrini Eldercare’s Senior Housing Project In Seattle Is A Model
Cabrini First Hill Apartments in
Seattle broke new ground when it combined HUD 202 and LIHTC financing —
along with eight additional funding sources. It’s not an easy task to
accomplish, but mixed funding is being replicated for affordable senior
housing projects nationwide based on the Seattle model.
December 2007
Variable-Rate Vs. Fixed-Rate Financing--
Providers Need to Know The Ramifications And The Rules
As the senior health and housing market has matured, variable-rate
financings have become widely accepted. To make the best decision, providers
should understand the variable-rate and fixed-rate ramifications and rules.
Alternative Ownership Structures--
Jewish Home For The Elderly Is Taking An Innovative Approach
The Jewish Home for the Elderly in
Fairfield, Connecticut, needs to expand, but real estate prices and
availability are prohibitive. After reviewing alternative ownership
structures, the organization selected the most innovative option.
November 2007
The Case For Long-Term Care Financing--
AAHSA (and others) Continue The Debate And Suggest Changes
More than half of U.S. residents needing long-term care either pay for it
themselves or depend on help from family members. Private long-term care
insurance remains prohibitively expensive. Meanwhile, the elderly population
is about to explode. AAHSA and others have actually come up with some good
ideas to solve the problem.
Expanding Through Home Healthcare--
Masonic Health Systems of Massachusetts: Right Place, Right Time
Masonic Health Systems of Massachusetts is in the enviable position of being
both cash rich and land rich. Concerted strategic planning resulted in a
mission update, a corporate reorganization, and the acceptance of the
concept of debt (a novel idea for this group) before moving forward with
expansion plans.
October 2007
Cohousing: Another Option for
Seniors--
Seniors Built ElderSpirit Community To Support Each Other
Intergenerational cohousing — small communities created with the active
involvement of future residents — have been around for awhile. Now, senior
cohousing projects are emerging — ElderSpirit Community in Appalachia, for
example — and, according to Charles Durrett, the “father of cohousing” in
the United States, senior cohousing is the growth area.
Making
CCRC Projects ‘Affordable’--
Jewish Home Of San Francisco Gets Creative In Palo Alto
How do we define “affordable” nowadays? When facing the challenge of making
a CCRC attractive and competitive in the market yet still affordable to the
seniors in the community, the Jewish Home of San Francisco got creative. It
broke out components of its Palo Alto project to reduce entrance fees.
September 2007
Intricacies of Affordable Senior Housing--
A Discussion About HUD’s 202 Program and How It Works
The demand for affordable senior
housing projects far exceeds the supply of available capital. While the HUD
202 program has changed in recent years, it still allows the construction of
affordable housing. Our experts discuss the program and how it works.
Flexible Financing—Updated Mission--
Lutheran Social Services of Michigan Expands, Renovates
When Lutheran Social Services of Michigan wanted to upgrade its MapleCreek
community, it first had to meet the banker’s metrics for future funding.
Then it could refinance its existing debt and secure funds for the new
project — a $50 million package.
August 2007
Intergenerational Shared-Site Programs--
Practical Tips On IGSS Operations And Funding Sources
Discover practical tips on operating and funding sources for programs that
serve different age groups in the same facility — a model that benefits
everyone.
Benefits of a ‘Blue Ocean Strategy’--
Metropolitan Jewish Health System — An Eager Adopter
Eli Feldman, CEO of Metropolitan Jewish Hospital System in New York City, is
an eager adopter of this practical, creative business strategy.
July 2007
Telemedicine Works for Texas
Tech-
The Hurdle For Nursing Homes: Doctor Reimbursements
Texas Tech's Health Sciences Center has successfully
used telemedicine in correctional institutions. Debbie
Voyles, director of telemedicine, calls doctor
reimbursements the hurdle for using telemedicine in
nursing homes.
Overseas
Profits Can Support Mission-
Front Porch Set To Break Ground In Mexico In October
Generate and maintain enough financial resources through for-profit
activities to reinvest in the not-for-profit “mission” side of your
business. In October, Front Porch Development Company will break ground on
an active adult community in Mexico.
June 2007
Small Borrower Financing Issues
What The Banker Needs To Know When You Want $$$
What does the banker need to know when you’re looking for money to buy,
build, reposition, or renovate? What kind of financing is currently
available, and what limitations might affect borrowed funds?
Making
Skilled Nursing Care Work-
Benedictine Health System Builds Partnerships, Associations
The CEO of Benedictine Health System believes nursing homes should reinvent
themselves and focus on higher acuity patients for shorter stays, but
building partnerships and associations is key to making skilled nursing
work.
Q&A With
John Durso, Esq.
John Durso, a partner at Ungaretti & Harris, talks about some of the
challenges to the tax-exempt status that not-for-profit organizations are
facing and offers suggestions for meeting those challenges.
May 2007
Hospice Care: End of the
Continuum
Three Ways to Add Hospice Services to Your Senior Facility
Three organizations followed different routes when adding hospice services
to their existing senior care facilities.
‘Aging in
Community’ A Hit in Boston
Beacon Hill Village Helps Elders Stay in Their Own Homes
Member services offered by Beacon Hill Village, a neighborhood group, help
elders remain in their own homes.
Q&A With
Don Gilmore
The CEO of Otterbein Retirement Living Communities talks about new
approaches to senior living and care.
April 2007
Tomorrow’s Seniors Want Options
- Choice-Driven Senior Living Becomes the New Paradigm
The choice-driven market is upon us and represents an opportunity for senior
care providers.
College Amenities Attract Seniors -
Campus Continuum Tweaks Retirement Community Model
Campus Continuum helps colleges and universities set up communities for
healthy, active, “younger” retirees.
Q&A With Robert Jenkens
What’s the Green House® Program all about, and is the model catching on?
March 2007
What’s
Happening With Cap Rates?
What are the nuances of cap rates, what factors influence them and how do
they affect the playing field?
Novel
Renovation, Novel Financing
Good Samaritan Home restructured its existing debt, financed a unique new
project, and saved money, too.
Q&A With Stan Thurston, CEO
(ret.), Life Care Services
The former CEO of Life Care Services comments on his early days in the
industry, the Return of Capital™ plan, and changes he’s observed over the
years.
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