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The State to Which We Are All Hastening (More or Less)

7 years ago
last modified: 7 years ago

No, not Death -- just a stop along the way.

A friend is looking at retirement homes. I started looking into the subject today and find myself in the world of High Finance -- both fees to get in and the huge corporations that own, invest in or manage many of the retirement homes all over the world. Wiki has links to various REITs and other corporations gobbling one another up, increasing capacity for assisted and non-assisted living -- and 'memory care'.

I hope SeniorGal will respond here. I think she's said that she liked her residence at first, and also after it was sold the first time...but not so much after the third time it changed hands. (Do I have that right, SeniorGal?)

I'd like input from anyone with first-hand knowledge of homes other than stand alone skilled nursing facilities and 'memory' homes. Do you know who ultimately owns the places near you -- or who owns their mortgages?

For example, I looked up a highly regarded place in my general area, The Vi, only to find it is one of 10 (expensive) homes in the US. These started out under the Pritzkers as Hyatt Residential Care facilities. Then the REITs were sold to something called Senior Housing Properties Trust, and are managed by a spin-off from that corporation -- Five Star Quality Care, Inc. Other places have even faster 'revolving doors'.

I also see that at least one place was successfully sued by residents when the care deteriorated and the fees increased too fast.

A little help, please?

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