Sunrise Senior Living, McLean, Va., is taking its know-how to Germany, where it plans to open 25 retirement communities in large cities.But Simon Webster, who heads the firm's European development team, advises foreign investors to "recruit local people." That's because it's difficult to locate suitable sites, and to buy them once they're found. German owners "consider their properties something to keep with a long-term view rather than a salable item," Mr. Webster said at MIPIM, the International Property Market, in Cannes, France. "It's quite a challenge to find plots in good locations for an acceptable price." Sunrise, which has 380 senior living communities in 33 states and the District of Columbia, opened its first German property in Hamburg. Frankfurt, the seat of the company's German activities, and Bonn are next in line, with 2006 openings planned.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
6h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
10h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24