Grand Court sells off properties to raise cash.
"The proceeds from these divestitures will enable us to continue developing senior housing communities," Bernard Rodin, president and COO, said in a prepared statement.
Grand Court manages or owns 48 senior living communities with more than 6,600 units and has controlling interests in 117 multifamily properties.
Grand Court also announced a 300,000 share stock repurchase program. "We believe our stock is under-priced based on our underlying asset value and the excellent future prospects of the company," Rodin said.
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|Publication:||Contemporary Long Term Care|
|Date:||Jul 1, 1999|
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