HENDERSONVILLE, TN – LCS announced the company added to its real estate portfolio with the closing of Clarendale at Indian Lake. The community will be located in Hendersonville, Tennessee. This is the fourth Clarendale senior living community for LCS and its partners, Ryan Companies and Harrison Street Real Estate Capital.

The transaction was facilitated by LCS Real Estate and the community will be managed by Life Care Services, both LCS companies.

Clarendale at Indian Lake is a $48.5 million senior living community offering independent living, helped living and memory care apartments and services. LCS holds equity positions in 39 senior living communities nationwide.

“We have fantastic synergy with our partners, Ryan Companies and Harrison Street Real Estate Capital,” says David Laffey, Senior Vice President/Director of LCS Real Estate. “We’re building considerable momentum with our real estate platform, which has been a strong addition to the LCS Family of Companies.”

Life Care Services is the third largest manager of full-service senior living communities. Life Care Services currently provides operations, and marketing and sales management services for not-for-profit and for-profit Life Plot Communities, formerly known as Continuing Care Retirement Communities (CCRC), and rental independent living, helped living, and memory care communities nationwide.

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BINGHAM FARMS, MI – FOURMIDABLE, a national real estate property management and brokerage firm announced the renewal of management contracts with six public housing commissions in Michigan.

The signing of the renewal contracts comes after negotiations led by Sabrina Gaddy-Bollinger, FOURMIDABLE’s Director of Affordable Housing.

The contracts signed involve the following Housing Commissions:

Renewal with Detroit Housing Commission (DHC) included the Brewster Homes, Harriet Tubman Apartments, State Honest Apartments, Sojourner Truth Apartments, and Woodbridge Senior Village.  FOURMIDABLE started their partnership with DHC in September 2007 and the contracts renewed represent the exercise of a one-year contract renewal option.

Renewal with the Lincoln Park Housing Commission included the Lincoln Park Tower, scattered sites, Mod Rehab Program and their Housing Choice Voucher Program. The programs have been managed by FOURMIDABLE since May 2000. Renewals with Lincoln Park Housing are also for one year.

The renewal with New Haven Housing Commission included the Pinewoods Apartments. FOURMIDABLE has been managing this community since September 1996 and the contract signed is for a two-year renewal.

Niles Housing Commission’s renewal includes the 179 apartment high-rise and scattered homes that have been managed by FOURMIDABLE since September 2015. 

The renewal with the Royal Oak Township Housing Commission is a two-year term with an additional one-year option. The Royal Oak Township Housing Commission has been a client of FOURMIDABLE since December 2007.

Finally, the renewal with the Sterling Heights Housing Commission and their Schoenherr Towers and Housing Choice Voucher Program has been completed with a four-year renewal including an additional one-year option.

FOURMIDABLE CEO Jeri Hays says, “It is a privilege to be able to continue our relationships with the various housing commissions.”

She adds: “We’ve made it our business to make value for our clients and our expertise in this very vital sector of public service provides us with this opportunity. It is always our privilege to make a positive impact on the lives of our residents.”

FOURMIDABLE is the largest private manager of Public Housing in Michigan.

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NEW YORK, NY – Mortgage rates reset fresh three-month lows, with the benchmark 30-year fixed mortgage rate now 4.22 percent, according to Bankrate.com’s weekly national survey. The 30-year fixed mortgage has an average of 0.28 discount and origination points.

The larger jumbo 30-year fixed also dropped, to a four-month low of 4.15 percent, while the average 15-year fixed mortgage rate dipped to 3.43 percent. Adjustable mortgage rates were mixed, with the 5-year ARM nosing higher to 3.46 percent and the 10-year ARM dipping to a three-month low of 3.78 percent.

Mortgage rates slid further over the past week following a disappointing pace of job growth in March and with worries rising about Syria, Russia and North Korea. Anytime investors get nervous, whether it is from tepid economic data or saber-rattling by and between foreign adversaries, it tends to be excellent news for mortgage rates.

Nervous investors clamor for the safe haven of U.S. Treasuries, pushing bond prices higher and bond yields lower. Mortgage rates are closely related to the yields on long-term government bonds. Further uncertainty about when, or if, any substantive fiscal stimulus will arrive and whether or not it will have a meaningful economic impact is also giving investors another reason to further consider bonds.

At the current average 30-year fixed mortgage rate of 4.22 percent, the monthly payment for a $200,000 loan is $980.37.

SURVEY RESULTS                                                                                       

30-year fixed: 4.22% — down from 4.24% last week (avg. points: 0.28)

15-year fixed: 3.43% — down from 3.48% last week (avg. points: 0.18)

5/1 ARM: 3.46% — up from 3.45% last week (avg. points: 0.28)

Bankrate’s national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in 10 top markets.
For a full analysis of this week’s go in mortgage rates, go to www.bankrate.com

The survey is complemented by Bankrate’s weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. Half of this week’s panelists expect mortgage rates to remain more or less unchanged in the coming week. One-third of respondents forecast further declines and just 17 percent predict a rebound in mortgage rates over the next week.

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