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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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
6h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
9h ago -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
11h ago -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
11h ago -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
July 11 -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11