Golden Living Sells All Its Arkansas Nursing Homes
Effective July 1, Golden Living is out of the nursing home business in Arkansas. The 14 nursing homes and independent living facilities have been sold to Capital Senior Care Ventures, a subsidiary of health-care behemoth Capital Funding Group. The sale marks a growing trend in the nursing home business of bringing mega-companies to manage and operate individual nursing homes. Frequently, the parent companies have no experience providing healthcare to seniors. In the case of Capital Senior Care, by the companies own admission, they "acquire and construct skilled nursing facilities in order to lease and ultimately sell them to high-quality...
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Investors To Gain From Increase In Elderly Population
A new REIT (real estate investment trust) is being formed in Chicago to monopolize on our aging society. 'Aviv' will be the name for the new REIT that will focus on leasing nursing home properties to operators. Crain's Chicago Business reports that nursing home expenditures are expected to jump as baby boomers retire. By 2017, it is expected that $218 billion will be spent annually on nursing home care compared with the $125 billion spent today. REIT's that focus on healthcare have done well in a slumping economy. According to the Bloomberg REIT Healthcare Index, healthcare REIT's have returned 13%...
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