Senior Housing and Assisted Living

Senior Living Investment Brokerage, Inc. announced the closing of a $11.2 million, or $37,949 per bed, sale of a Skilled Nursing Facility located in Washington, D.C. The five story facility is located in eastern Washington, D.C. in one of the oldest communities in the area, the Deanwood Neighborhood. Consisting of 296 beds, the structure was originally developed in 1982. The facility consists of approximately 136,142 square feet and sits on 1.44 acres. At the time of the sale, occupancy at the facility was approximately 75%. The buyer, a large regional operator, will be assuming the existing HUD insured financing; the buyer plans to use their experience with larger nursing homes to increase operating efficiencies, improve the Medicare census, and continue to enhance the performance at the facility.  Bradley Clousing and Jeff Binder of Senior Living Investment Brokerage, Inc. handled the transaction.

The latest Zillow Real Estate Market Report shows that home values across the country declined again in the 4Q of 2009, marking the 12th consecutive quarter of year-over-year declines.  The report shows that home values in 29 of the 143 markets tracked by Zillow have flattened or have begun to decrease again after showing at least five consecutive monthly increases during 2009 – early signs of what could become a ‘double dip.’

Home values in an additional 29 markets, including the Los Angeles and New York MSAs, increased on a month-over-month basis each month throughout the fourth quarter. However, the rate of increase slowed from November to December in 21 of those markets, and several appear likely to experience several months of sustained decline in early 2010.

"While we have seen strong stabilization in home values during 2009, there are clear signs that they will turn more negative in the near-term," said Zillow Chief Economist Stan Humphries. "What we saw in mid-2009 was a brief respite from a larger market correction that has not yet run its course. The good news is that, for those markets that will see a double dip in home values before reaching a definitive bottom, this second dip will not be a return to the magnitude of depreciation seen earlier, but rather will look more like a modest aftershock of the earlier downturn.

"The recent stabilization owed a lot to policy support in the form of tax credits, lower interest rates and increased Federal Housing Administration lending. The remaining correction in home values we’ll see in the first half of this year is a function of market fundamentals, such as the increasing flow of foreclosures, high levels of inventory in the market and a probable decrease in demand as the impact of the tax credit wanes and mortgage rates rise. While the next few months are likely to bring further home value declines in most markets, we do expect to see a national bottom in home prices by the middle of this year. Thereafter, home values are likely to bounce along the bottom with real appreciation remaining negligible for some time."

Continued High Negative Equity and Home Value Declines Put a Damper on an Encouraging 2009

Interested to find out who’s going where and how or just searching future movers and shakers or dreaming of a better job?  Check out our Senior Housing Jobs section for the latest job postings.  Share your personnel moves with the world of consumers and professionals in senior living and senior care. Submit senior living job changes and appointments for your 2010 staff announcements to movers-shakers@seniorhousingnews.com. 

Silverchair Learning Systems Lou Ann Robinson is new Director of Home Health Clinical Content; Vince Hockett is new Vice President of Product Marketing

Silverchair Learning Systems (SLS) announced two new additions to its Product Development Team. Lou Ann Robinson has joined the company as its Director of Home Health Clinical Content, and Vince Hockett has joined as Vice President of Product Marketing.

In her role as Director of Home Health Clinical Content, Ms. Robinson will review and develop content for Silverchair’s Home Health curriculum, as well as manage the accreditation process for courses. Prior to her new role, Ms. Robinson was with the Triad Group in North Carolina and served as a member of Silverchair Learning Systems’ Advisory Board.  Ms. Robinson brings more than 25 years of clinical nursing and managerial experience to Silverchair, specializing in Home Health for the last 17 years. Lou Ann is recognized for her expertise in process and performance analysis and improvement, knowledge of regulatory compliance, team building and results-oriented, outcomes-based business practices. She holds degrees in nursing from the University of North Carolina, Chapel-Hill and accounting from the University of North Carolina, Charlotte.

Vince Hockett has more than 20 years’ experience in marketing, business development, and business management with both start-ups and large multinational corporations. He has a BA in government from the University of Notre Dame and an MBA from the University of Virginia’s Darden School of Business.

In his role as Vice President of Product Marketing, Mr. Hockett will lead Silverchair’s strategic and tactical marketing and product development efforts. Prior to his current role, Mr. Hockett was Vice President of Strategic Business Development with Chesapeake Corporation in Virginia.

Tim Maloney Named Executive Director of The Village at NorthRidge

The Village at NorthRidge, a new senior housing community developed and operated by Senior Resource Group (SRG), has appointed Tim Maloney as executive director.  He will oversee all operations for the soon-to-be completed 275-unit independent living/assisted living community located in the northwest San Fernando Valley.  Maloney brings more than 30 years of healthcare and senior housing experience to his new post, including more than a decade with SRG. He previously served as executive director of The Carlisle Naples – a 350-unit luxury senior living community in Naples, Florida, and as executive director at The Village at Sherman Oaks – a sister community to The Village at NorthRidge.

Prior to joining SRG, Maloney, who holds an undergraduate degree in Food and Housing and a Masters in Healthcare Administration from the University of Wisconsin, served as CEO of several hospitals, hospital systems and medical centers including Hollywood Community Hospital (Hollywood, Calif.), Clinical Diagnostic Radiology & Nuclear Medicine LTD (Phoenix, Ariz.) and Maui Memorial Hospital (Maui, Hawaii).

The Legacy at Preston Hollow Names Kimberlee Van Eyk Director of Business Development

Kimberlee Van Eyk has been named director of business development of The Legacy at Preston Hollow.  The announcement was made byMichael Ellentuck, president of The Legacy Senior Communities, Inc., the parent organization of The Legacy at Preston Hollow.

Van Eyk comes to The Legacy at Preston Hollow with more than 14 years of experience in the healthcare industry.  She began her career as a sales representative for Hewlett Packard in Sacramento, California, and then moved to Alameda, California, transitioning into the healthcare industry as a district manager for Critical Care America.  Subsequently she was a managed care specialist for Home Nutritional Services in San Francisco, and later worked as an executive account manager for Chartwell West, USCF Medical Center.  Van Eyk moved to Texas where she was director of business development for the Grand Prairie Healthcare Center, and also served as the director of marketing for Treemont Healthcare and Rehab Center.

“I am thrilled to have the opportunity to work with the dedicated team and staff at The Legacy at Preston Hollow,” said Van Eyk.  “It is gratifying to be a part of this wonderful community.”

Van Eyk graduated with a BS in Business Administration from California State University in Fresno.  She is currently a member of the Case Management Society of America, Marketing Plus, and Pi Sigma Epsilon Alumni Association.

Forest City Enterprises, Inc., (NYSE:FCEA) recently announced that one of the company’s subsidiaries has closed the sale of its partnership interests in three supported-living apartment communities to a subsidiary of Hyatt Corporation. The three properties, all of which operate under the Classic Residence by Hyatt brand, are located in Teaneck, N.J., Chevy Chase, Md., and Yonkers, N.Y., and have a total of 869 supported-living rental units.  Units of Forest City and Hyatt have been partners in the properties since their initial development and Forest City expects to receive proceeds of approximately $30 million from the sale.

"This sale is part of our ongoing strategic exit as a company from the supported-living segment of the residential multifamily market," said Charles A. Ratner, Forest City president and chief executive officer. "It’s also another step in our efforts to capture value – and generate liquidity – from within our portfolio. We’ve had a long and productive partnership with Classic Residence by Hyatt, and we salute their continued leadership in senior living."

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Laying on the couch may be your idea of retirement...but you realize that is unhealthy. One of your retirement goals...this applies to every one...is to be retired and healthy for a long time.

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The more focused and clear your goals are the better. For instance learning to speak French as a goal is too broad. Instead stay I will be able to speak passable French 6 months after I retire. Then it is OK to go buy the language software.

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I have been retired 15 years. My lists of goals and never agains are 20 years old. Take a look they may get you started on your lists.

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