Posted in March 2013

Smaller REIT Prefers Building Properties over Buying Them

Smaller REIT Prefers Building Properties over Buying Them

Edgewood REIT, based in North Dakota, finds building its own senior living properties  more prudent than buying existing ones. Edgewood REIT  leases most of its properties to the Edgewood Group who also own a development and construction company. The company manages 43 independent, assisted and memory care communities in several Great Plain and Rocky Mountain States. The … Continue reading

Tax Breaks for Assisted Living Communities Under Scrutiny

Tax Breaks for Assisted Living Communities Under Scrutiny

Newsday is reporting that the new owners of three Long Island, NY assisted living communities have dropped their request to extend the tax abatement agreement they had already secured upon closing last month.  The Nassau County Industrial Development Agency (IDA) had extended the agency’s PILOT (payment in lieu of taxes) program to developer Engel Burman before … Continue reading

Assisted Living Mandates Differ Between States

Assisted Living Mandates Differ Between States

Assisted Living varies in definition and scope between states. Skilled nursing homes have long complained about the strict laws and  regulations with which they’re governed by and have pointed to assisted living centers as being unfairly free of the same burdens. Less compliance and regulation certainly keeps costs down but the two types of housing … Continue reading

More on Pre-Arbitration Agreements

More on Pre-Arbitration Agreements

Friday’s post was in response to the Emeritus trial currently underway in Sacramento, CA. The ASHA issued a brief on pre-arbitration agreements in 2009 that provided useful data and suggestions for operators of assisted living communities. The rational for using  pre-arbitration agreements in senior housing contracts were: Arbitration is cheaper than litigation. The arbitration process … Continue reading

Arbitration Agreements in Assisted Living

Arbitration Agreements in Assisted Living

Closing arguments in a wrongful death suit brought by the family of a former resident against Emeritus Corporation began yesterday in California, the Sacramento Bee reports. The trial will take place in two parts: in the first part the jury will decide on the role Emeritus played in the woman’s death, the second part will decide … Continue reading