More from the article ...

... When Martha Bray and her husband moved into River Glen of St. Charles, a senior living community west of Chicago, she figured it would be her last home. The couple loved the neighborhood's tree-lined streets, tended lawns and tidy red-brick townhomes.

The Brays paid a $314,000 entry fee for their townhouse in 2013, plus a monthly maintenance fee. They didn't own the property, but if they decided to leave, their contract promised they'd receive 85% of the current value determined by a local realtor.

A Vietnam veteran, Bray, 84, thrived at River Glen even after her husband died in 2016. But all that changed with a knock at Bray's door in late June 2023. River Glen had been sold to a private equity firm and real estate investment group, she was told, and her financial contract was changing.River Glen's new owners, Jaybird Capital of Cedar Rapids, Iowa, and Citrine Investment Group of Chicago, were jacking up Bray's monthly maintenance from $1,395 to $6,500, a 365% increase, Bray said. And if she didn't like the deal and left the community, she would receive only 75% of the entry fee she'd paid more than a decade earlier. ...

So now, private equity now seems to be targeting senior citizen communities, after what they have done to health care?

@#3 ... No unilateral changing of terms. ...

Yup.

And that may be why private equity now seems to be targeting these entities.

@#3 ... Sorry pal, you bought the business AND its contracts. ...

Twenty years or so ago, I was the Executor for my Mom's estate.

At one point we (my siblings) had to place her in an assisted care facility.

Long story short, I read, agreed to, and signed the contract.

Then I asked for a copy of the contract I had just signed.

I was told, ~our printer isn't working.~

Much longer story short, after many days of that excuse, I had to involve lawyers to get that copy of the contract.