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Stock Market & Financial Investment News

News Breaks
June 23, 2014
08:01 EDTADKAdCare leases South Georgian facility
AdCare announced that, as part of its ongoing rationalization plan, it has signed an agreement to sublease one of its skilled nursing and rehabilitation facilities in South Georgia to a local nursing home operator effective July 1. AdCare incurred losses of approximately $92,000 in connection with operating this 52-bed facility during the first four months of this year; the facility is now expected to contribute approximately $90,000 of net profits annually during the life of the sublease. Under the terms of the triple net lease agreement, the lessee will be responsible for day-to-day management, ongoing maintenance and facility improvements for the duration of the lease. AdCare says its board is presently considering a number of other similar options across its portfolio to drive cash flow and maximize shareholder value and is being assisted and advised by an investment banking firm in evaluating these strategies.
News For ADK From The Last 14 Days
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February 10, 2016
08:06 EDTADKAdCare signs lease agreement for nine Arkansas facilities
AdCare announced that the operations of its nine facilities in Arkansas will be operated by affiliates of Skyline Healthcare effective March 1, pending licensure. The master lease agreement, which is subject to licensure and lender consents, includes an initial term of 15 years with two five-year renewal options, monthly rental fees of $450K with 2.5% annual rent escalators, a two month cash security deposit and a one-time, short-term option for the leasee to purchase the facilities.

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