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Nazareth Master PlanDorsky Hodgson + Partners, a national architecture and planning firm based in Cleveland, was selected to complete a master facility plan for the Nazareth Home in Louisville, Ky. The 118-bed skilled-nursing facility and the 50-bed licensed personal-care facility are both operated by the Sisters of Charity of Nazareth. The firm will complete an in-depth assessment of both facilities, including identifying short-term and long-term strategies for phased renovation, reuse or new construction programs. For more information, call (216) 464-8600. Huntoon FinancingWMF Huntoon Paige, a Denver-based mortgage financial-services company, provided $3.4 million in FHA-insured funding for the construction of Lafayette Assisted Living, an 87-bed facility in Indianapolis. It is a 40-year, fully amortizing loan at 8 percent. This is the first to-be-built facility insured by the Indianapolis FHA office. For more information, call (800) 227-1192. ZAC Acquires Research FirmZA Consulting (ZAC), a nationwide, independent healthcare consulting firm based in Jenkintown, Pa., acquired Project Market Decisions, a market-feasibility research firm based in Cincinnati. Due to the acquisition, ZAC is able to pinpoint clients' specific needs with greater speed and accuracy. For more information, call (888) 464-4810. Arbor RelocationArbor National Commercial Mortgage, a national lender with a wide range of products for multifamily and residential healthcare properties based in Uniondale, N.Y., announced the relocation of its Chicago lending office to Burr Ridge, Ill. For more information, call (630) 325-2355; fax (630) 325-5112.
Cambridge FundingCambridge Realty Capital, a Chicago-based merchant banking firm, provided the funding for Harmony Nursing Center, a 180-bed nursing home in Chicago owned and operated by Keiro Care of Lincolnwood, Ill. The $9.3 million HUD 232/223 loan has an interest rate of 7.38 percent with amortization and a 35-year term. Cambridge also funded GentleCare Inc. nursing homes a total of $3.25 million at a fixed-rate, nonrecourse basis with an interest rate of 8.6 percent on a 10-year term and 20-year amortization. The Indiana facilities include 66-bed GentleCare of Vicennes, 58-bed GentleCare of French Lick and 36-bed GentleCare of Loogootee. In addition, Cambridge is recruiting mortgage banking companies for its national correspondent network with plans to expand its network by 25 cities in 1998. For more information, call (312) 357-1601. Sunrise Proves ProfitableSunrise Assisted Living Inc., assisted-living care providers based in Fairfax, Va., reported a 110 percent increase in third quarter 1997 with revenues rising to $24.3 million from $11.6 million for the same quarter in 1996. Net income for the quarter was $1.3 million or 7 cents per share. Revenues for the first nine months of 1997 were $59.5 million representing an 83 percent increase over the $32.6 million in revenue for the first nine months of 1996. Net income for the first nine months in 1997 was $1.8 million or 9 cents per share. In other news, Sunrise obtained a commitment from NationsBank to expand its $90 million syndicated credit line to $200 million. Sunrise currently operates 54 communities in 11 states. For more information, call (703) 273-7500.
New CommunitiesConstruction is underway for the Arizona School Employees Retirement Center in Apache Junction, that is tar-geted for retired teachers. This 125-unit community is a joint venture of Merrill Gardens and Careage Corp., both of Seattle, and is scheduled to open in the fall of 1998. The community will offer both private-living units and assisted-living units. Eight retired teachers helped break ground for the facility, and aided in designing the community which will offer Internet hookups and e-mail access in each unit. In addition, the community will enable residents to participate in continuing education classes. Plans are being made for the residents to work with students in local schools. For more information, call (206) 676-5310. IMC Construction Co., based in Malvern, Pa., was awarded the construction contract for Springhouse Assisted Living Facility, a 65,000-square-foot facility, Emerson, N.J., owned by Manor Care Health Services of Gaithersburg, Md. IMC has also been awarded a contract for construction of Princeton Oaks Assisted Living Facility, a 76,000-square-foot facility, Princeton, N.J., owned and operated by Quality Assisted Living of Princeton. For more information, call (610) 889-3600. ACHCA Receives EndorsementsThe American College of Health Care Administrators' (ACHCA) Certification Program for assisted-living administrators received an endorsement from the Assisted Living Federation of America (ALFA). ACHCA, based in Alexandria, Va., is partnering with ALFA to provide educational offerings that will assist administrators preparing for the Assisted Living Administrator Certification Exam. Also, ACHCA launched a certification program for subacute administrators/managers that received endorsements from the American Association of Critical-Care Nurses, the American Subacute Care Association, the National Association of Directors of Nursing in Long-Term Care and the National Subacute Care Association. For more information, call (703) 739-7921; www.achca.org.AAHSA New Orleans Expo The American Association of Homes and Services for the Aging (AAHSA) hosted its 36th Annual Meeting and Exposition, Building Systems Across the Continuum, in New Orleans, Oct. 20-23, 1997. The meeting was conducted in order to study the construction of many types of systems, including relationships among professionals, alliances among providers and information systems at all levels. AAHSA meetings offer a chance to network with peers and learn from various leaders in the field. For more information, call (504) 670-8602.
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