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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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October 30, 2014
08:28 EDTADKAdCare leases seven facilities in Georgia and Ohio
AdCare Health Systems has signed agreements with local third party operators to lease seven of its skilled nursing facilities in Georgia and Ohio. The lease on the five facilities in Ohio will be effective upon securing approval from the U.S. Department of Housing and Urban Development, which is expected by the end of the year. The lease on the two facilities in Georgia to a different operator will be effective November 1. The initial term of the leases is five years with renewal options after that period. The annual lease payments expected to be received by the company will exceed the interest and other property related costs on these facilities by approximately $2M.

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