In the December 2011 Issue
- The Seniors Housing Capital Environment
- A Discussion with Peter J. Kane
- NIC Research Insights
- Home Prices Continue Bouncing Around the Bottom
- NIC MAP Update
- Save 50% off Select NIC MAP Reports Through December 31, 2011
- Industry Calendar
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on Twitter to get the latest news
pertaining to the seniors housing & care industry.
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In the latest in a series of dialogues with key players regarding the current capital environment in
the seniors housing and care industry, Michael Hargrave, Vice President - NIC MAP, recently
interviewed Peter J. Kane, Managing Director, The PrivateBank.
The PrivateBank is a leading bank lender to the long term care sector. Can
you tell us about the platform from which you lend to the seniors housing & long
term care industry?
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Mr. Kane: The PrivateBank team totals over 17 professionals that focus
mainly in the seniors housing & long term care space. We have a nationwide practice
with concentrations in Illinois, California, Texas and Florida. Our core team has
roots that go back over 20 years. In 2007 our team was hired by The PrivateBank
in conjunction with a strategic growth plan following the sale of LaSalle Bank.
The platform of a commercial bank keeps our underwriting conservative and our track
record going back to LaSalle Bank has kept us consistent in the market. Our basic
underwriting principles have not changed significantly in the past 10 years. Because
of our historical success, consistent senior management and credit monitoring process,
we have been allowed to routinely deliver on our commitment to the industry.
Our success in building a portfolio of over $1.5 billion in seniors housing & long
term care exposure has been greatly aided by the migration of not only our entire
team intact, but also our former CEO, former Chairman, other senior management and
key lending and bank product partners. In total, over 200 former LaSalle employees
have joined The PrivateBank and all have had a role in our success over the past
four years. Our focus within seniors housing & long term care continues to be the
skilled nursing sector. Our client base spans the gamut from publicly traded /large
private equity firms to the small regional operator. Our focus has always been to
look for the "top tier" operator that not only knows how to provide high quality
care but also knows the importance of being well capitalized.
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View the full article
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Recent data continue to show the economy is improving on most fronts, with the largest
exception possibly the residential housing market. Data released through 2011Q3
show home prices continuing to oscillate near the lows established earlier this
year. In 2011Q3, the U.S. Home Price Index was essentially flat compared to the
prior quarter, but down approximately 4 percent from a year ago and 31 percent from
the peak in 2006.
Distressed sales, at 28 percent of existing home sales transactions, as of November,
continue to account for a large share of existing sales. The continued sizable distressed
sales market likely will continue putting downward pressure on home prices for some
time. While affordability remains at record levels, the continued economic uncertainty
is likely holding back would be home buyers.1
1. Source: National Association of Realtors
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View the full article
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Save 50% off Select NIC MAP Reports Through December 31, 2011
From now until December 31, 2011, purchase any 3Q11
NIC MAP report through our online store and receive 50% off each
report purchased*.
Reports available for purchase include:
NIC MAP Metro Market Reports
Sale Price: $149.50
NIC MAP Inventory & Construction Reports
Sale Price: $124.50
NIC MAP Construction Monitor
Sale Price: $249
NIC MAP Monitor
Sale Price: $249
This offer is only available through December 31, 2011. Purchase your reports today.
*This offer is not valid toward the purchase of the 3Q11 RCA-NIC Seniors Housing
& Care U.S. Quarterly Report.
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View the full article
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NIC Insider Newsletter,
please contact
Jessica Palmeri
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Seniors Housing & Care
Industry Calendar
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| January 2012: |
| 15-17 | ASHA Annual Meeting, Dana Point, CA |
| 17 | NIC Executive Committee & Conference Planning Committee Meetings, Dana Point, CA |
| 17-19 | NMHC Annual Meeting, Boca Raton, FL |
| 26 | 4Q11 NIC MAP Data Release & Subscriber Webcast |
| February 2012: |
| 8-11 | NAHB International Builders Show, Orlando, FL |
| March 2012: |
| 14-15 | PREA Spring Conference, Boston, MA |
| 25-27 | Skilled Nursing Investment Forum and Seniors Housing Regional Symposium 2012, Boca Raton Resort, Boca Raton, FL |
| 25 | NIC MAP Market Briefing, Boca Raton Resort, Boca Raton, FL |
(denotes NIC Events)
Contact Us:
To learn more about NIC,
please visit www.nic.org,
or call (410) 267-0504.
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