Real estate investment trust (REIT) Omega Healthcare Investors (NYSE: OHI) received approval from the U.S. Bankruptcy Court for the Northern District of Texas to transition 23 of 42 facilities operated by its skilled nursing tenant, 4 West Holdings, Inc., to new operators. 4 West Holdings, known with its affiliates as Orianna Health Systems, entered Chapter 11 Bankruptcy in March. […]
Nursing home operator Preferred Care, which filed for Chapter 11 bankruptcy protection in November of last year for 33 of its SNFs, is seeking a court order to extend the deadline for filing a restructuring plan to Sept. 10. The current deadline is June 11. It is the debtors’ second request for an extension of the exclusivity periods […]
Skilled nursing facilities that can serve more medically complex patients will be rewarded under the Centers for Medicare & Medicaid Services’ (CMS) proposed Patient-Driven Payment Model (PDPM), according to a new white paper from Integra Realty Resources’ health care and senior housing practice. The proposed model, announced late in April, draws from a previously proposed model, the Resident Classification […]
Researchers at the University of Southern California believe Yelp nursing home reviews are a useful tool in helping prospective residents or their family members make decisions about facilities, The New York Times reported Friday. Though reviews posted on Yelp and other online platforms such as Google or the recently acquired Caring.com are not perfect, the issue […]
Phoenix Skilled Nursing Facility Goes to Ensign Affiliate Blueprint Healthcare Real Estate Advisors announced the sale of the 128-bed Plaza Del Rio in the Phoenix suburb of Peoria to an affiliate of The Ensign Group (Nasdaq: ENSG). The seller was a Florida-based senior living developer and philanthropist who held the facility in a charitable remainder trust. […]
Sabra Health Care REIT (Nasdaq: SBRA) on Thursday expressed optimism about the Centers for Medicare & Medicaid Services’ (CMS) new skilled nursing payment model and stressed its focus on executing its divestiture programs — particularly its sale of facilities operated by Genesis Healthcare (NYSE: GEN). Under the new model, incentives shift from short-term rehab to complex […]
More than 30,000 nursing home residents in Louisiana are slated to receive notices that they could lose their Medicaid eligibility starting on Thursday as a result of budget cuts that passed the state’s House of Representatives. But the president of one provider organization would be “stunned” to see the budget pass the state Senate and […]
CareTrust REIT (Nasdaq: CTRE) touted the resolution of tenant issues and predicted a brighter future for skilled nursing on its first-quarter earnings conference call — even with lagging deal volume in the sector. The real estate investment trust (REIT) was upbeat about completing a planned Ohio operator swap that saw Pristine Senior Living and Post-Acute Care replaced with new […]
Greystone Closes $75M Loan for Acquisition of 561-Bed Portfolio Greystone, a New York-based commercial real estate lending, investment and advisory company, provided a $75 million loan for the Optima portfolio of three skilled nursing and rehabilitation facilities in the New York City metropolitan area. The loan, insured by the Department of Housing and Urban Development […]
As multiple skilled nursing tenants struggle to pay their real estate investment trust (REIT) landlords, a Chicago-based real estate management company is looking to change the model of skilled nursing leases by getting its operators to see it as a partner. For Mozart Healthcare, the goal is to be “on the ground with our operators,” […]
When assessing the deal struck by Welltower (NYSE: WELL) to acquire Quality Care Properties (NYSE: QCP) and by ProMedica to acquire HCR ManorCare, outsiders should look at whether the players can pull off a genuine team-based approach to care. That’s according to Bob Kramer, founder of the National Investment Center for Seniors Housing & Care (NIC). The […]
More than 70% of accountable care organizations (ACOs) likely would leave the Medicare Shared Savings Program (MSSP) if they were forced to assume risk, a new survey from the National Association of ACOs (NAACOS) found. The web-based survey reached out to the 82 ACOs that started the MSSP in 2012 or 2013 and which will have […]
$45M Portfolio Sale in Ohio A five-property skilled nursing portfolio in northeast Ohio sold for $45 million, or approximately $62,000 per bed, Blueprint Healthcare Real Estate Advisors announced. Blueprint executed the sale for a publicly traded real estate investment trust (REIT) and a national operator; the buyer was a growing regional provider that had an […]
Telehealth has promise for long-term care facilities in rural areas, but a new risk model may be needed to fully realize the technology’s potential, according to testimony at a hearing before the U.S. House Ways and Means Committee that focused on innovation in health care. Rep. Adrian Smith, a Nebraska Republican, noted the significance of […]
The Pennsylvania Department of Health appointed temporary leaders at nine nursing facilities that were operated by Skyline Healthcare after the department determined that Skyline no longer had the money to run the facilities. “We have installed temporary management at all nine facilities to ensure residents will continue to receive safe care,” Secretary of Health Dr. Rachel Levine […]
The South Dakota Department of Health filed a motion for Skyline Health Care to turn over its assets and income after residents at its 19 facilities in the state were put at risk, The Aberdeen (S.D.) American News reported, citing court documents. Debbie Menzenberg, a licensed nursing home facility administrator and a divisional vice president in charge of […]
Revera and Axium Form JV to Own 32 LTC Homes in Canada Revera and Axium Infrastructure completed a joint venture (JV) transaction to share ownership of 32 of Revera’s long-term care (LTC) homes in Ontario, Alberta, Manitoba, and British Columbia. Revera, a senior living owner, operator, and investor, will continue to run the homes. Independent portfolio manager […]
In an era of tight financial constraints for skilled nursing facilities, one owner-operator turned to a unique funding source to offset construction costs — and set up savings for the future. Premier Health Care Management, which owns and operates nine skilled nursing facilities with 961 beds in southwestern Ohio, is using the state’s Commercial Property […]
Five-SNF Portfolio Sale in Alabama Blueprint Healthcare Real Estate Advisors announced the portfolio sale of five skilled nursing facilities in Alabama from a national owner based in New York. The buyer is a real estate investor, which partnered with the regional operator Blue Ridge Healthcare. At the time of the sale, the portfolio had a […]
Experts are increasingly calling on skilled nursing facilities to step up and tout their worth in the new value-based health care landscape. But skilled nursing facilities may not have that much influence to wield, particularly when it comes to the growing force of managed care, one expert says. “As an industry, SNFs have no leverage […]
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