Attached files
| file | filename |
|---|---|
| 8-K - Sentio Healthcare Properties Inc | v206214_8k.htm |
Exhibit
99.1
Cornerstone
Healthcare Plus, REIT announces the development of a
Specialty
Rehabilitation Facility
(Irvine,
CA) December 22, 2010 -
Cornerstone Real Estate Funds, and its strategic alliance partner and
sub-advisor Servant Healthcare Investments, today announced a new joint venture
for the development of a Specialty Rehabilitation Facility in Littleton,
Colorado. The 36-bed, 27,000 square foot facility will be leased to and operated
by CareMeridian, LLC, a leading provider of post acute health care
alternatives. The facility will provide services for patients who
have sustained a neurological injury as a result of trauma, stroke and other
related medical events. Construction is expected to begin in the second quarter
of 2011, with an estimated completion in the second quarter of
2012.
 |
The
project is a joint venture between Cornerstone Healthcare Plus REIT, and
The Cirrus Group, LLC a real estate development company specializing in
the development and delivery of customized, state-of-the-art medical and
healthcare-related real estate. The Cirrus Group is based in Dallas and
has completed over 70 medical projects nationwide since its inception in
1996.
CareMeridian,
a partner of the MENTOR Network, provides a continuum of high quality,
cost-effective post-acute care and rehabilitation options to people of all
ages with brain, spinal cord and other life-altering injuries and
medically-complex illnesses. With program locations throughout the
Western United States, CareMeridian offers a distinctive service delivery
model, merging an experienced and skilled health care and rehabilitation
team with state-of-the-art technology in community-based program settings
designed to meet the unique needs of those they serve at every stage of
their recovery.
Cornerstone
Real Estate Funds has been helping individuals and institutions
|
invest in real estate for more
than 20 years in both good and bad economic conditions. The company prides
itself on its impressive track record, 8 full-cycle programs, experienced
management team and successful joint ventures. Today, Cornerstone offers a
variety of public and private real estate offerings for individuals and
institutions. For more information, please visit www.CREfunds.com.
Contact
Information:
Chris
Marr
Cornerstone
Real Estate Funds
949-812-4418
This
material does not constitute an offer to sell or a solicitation of an offer to
buy Cornerstone Healthcare Plus REIT. An offer can only be made by a prospectus
that contains more complete information on risks, management fees and other
expenses. There is no guarantee that any real estate strategy will be
successful. Past performance does not guarantee future results. Investors in a
real estate investment fund will be subjected to risks associated with owning
real estate including: economic and regulatory changes that impact the real
estate market, lease terminations which reduce rental income, rising expenses,
environmental claims, uninsured losses, potential loss of principal and the
relative illiquidity of equity real estate investments. Investments are not bank
guaranteed, not FDIC insured and may lose value.
This
release contains forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. Such statements involve risk and uncertainties which could cause actual
results to vary materially from those expressed in or indicated by the
forward-looking statements. Factors that may cause actual results to differ
materially include changes in general economic conditions, changes in real
estate conditions, changes in interest rates, lease-up risks, lack of financing
availability and lack of capital proceeds.
Cornerstone Real Estate Funds is the
brand/logo associated with Cornerstone Ventures, Inc. (CVI). CVI is the sponsor
and advisor of real estate investment funds that are distributed by Pacific
Cornerstone Capital, Inc. Servant Investments and Servant Healthcare
Investments are real estate companies that act as sub-advisors to certain real
estate offerings sponsored by CVI. CVI has no affiliation with the facility
mentioned above. Securities are
offered through Pacific Cornerstone Capital, Inc. Member FINRA and SIPC.
CL0240_11/2010