The first quarter of 2018 was busier than the year-ago period for senior housing and care transactions—and more than half of the properties that traded hands were skilled nursing facilities, new data show. Seventy-seven publicly announced senior housing and care acquisitions took place in the first quarter of 2018, which is up from the 70 […]
What does the general public think of the senior housing and care industry? One morning in mid-January, I took to the streets to find out. The scene: A large, neighborhood grocery store on the north side of Chicago. The quest: To determine what 10 average, unsuspecting consumers of all ages really think about contemporary senior […]
A struggling skilled nursing property company that’s behind on loan repayments is causing some financial trouble for HCP Inc. (NYSE: HCP). The Irvine, California-based real estate investment trust (REIT) is expecting that the resulting material impairment will exceed $20 million. The skilled nursing entity in question—Tandem Health Care—currently owns 32 post-acute or skilled nursing facilities, […]
Long before a major winter storm hit the East Coast early Thursday, skilled nursing providers across the region had a plan — with an assist from solid teamwork. The so-called “bomb cyclone” hit close to home for Dan Reingold, president and CEO of New York City-based skilled nursing and rehabilitation provider RiverSpring Health, who spent […]
It’s time to wholly disrupt the current system for delivering long-term services and supports (LTSS) to older adults across the country, according to LeadingAge. The industry association, which represents more than 6,000 not-for-profit senior care providers, believes that its members in particular are “well positioned to play a central role in [its proposed] new system,” which […]
If a rumored merger actually takes place, the nation’s largest hospital operator and the nation’s third-largest nonprofit senior care organization may become one in the same. St. Louis-based Ascension Health and Renton, Washington-based nonprofit health system Providence St. Joseph Health have been discussing the possibility of merging for months, The Wall Street Journal reported on Sunday, citing […]
It’s been a busy past few months for Sabra Health Care REIT (Nasdaq: SBRA), to say the least. In August, company shareholders approved its merger with Care Capital Properties (NYSE: CCP). Then, in early September, the Irvine, California-based real estate investment trust (REIT) announced it was purchasing the real estate associated with 24 skilled nursing facilities for […]
The third quarter of 2017 saw greater transaction volume in skilled nursing than in senior housing, as well as a 227% increase in skilled nursing transactions from the prior quarter, according to a blog post by Bill Kauffman, senior principal at the National Investment Center for Seniors Housing & Care (NIC). In the third quarter of […]
Nursing care occupancy experienced a dip last quarter, according to data released Tuesday by the National Investment Center for Seniors Housing & Care (NIC). Specifically, average nursing care occupancy fell from 86.6% in the second quarter of 2017 to 86.2% in the third quarter of 2017, the data show. The 86.2% figure is the lowest NIC has […]
Sabra Health Care REIT’s (Nasdaq: SBRA) definitive agreement to purchase a 49% equity interest in a joint venture that owns 183 senior housing communities clarifies exactly how Sabra plans to grow, according to company CEO Rick Matros. “Everybody was freaking out,” Matros explained to Skilled Nursing News, referencing certain investors’ reactions to Sabra’s recently approved merger with skilled nursing REIT Care […]
Lancaster Pollard, which does a great deal of business in the skilled nursing space and is regularly ranked as the top FHA/HUD senior housing lender, has been purchased by ORIX USA, a division of international financial services group ORIX Corporation. ORIX already owns another major senior housing lender, RED Capital. Going forward, senior housing services […]
The United Kingdom has a new largest care home operator, and a former U.S. senior housing heavyweight will soon be at its helm. But the company’s chairman still sees dark clouds on the horizon for the industry as a whole. HC-One on Wednesday announced its intention to acquire 122 care homes from Bupa, a London-based […]
Sabra Health Care REIT (Nasdaq: SBRA) is in a positive place following its recently approved merger with Care Capital Properties (CCP), according to several ratings agencies. Fitch Ratings on Wednesday increased Sabra’s rating from BB+ to BBB-, an investment-grade rating, while Standard & Poor’s boosted its corporate credit rating on the Irvine, Calif.-based real estate […]
Deal pricing in the skilled nursing industry has remained fairly stable so far in 2017, according to newly released data from the National Investment Center for Seniors Housing & Care (NIC). The average price per bed of skilled nursing properties totaled $97,400 in the second quarter of 2017, compared with $97,200 in the first quarter […]
Though the skilled nursing industry has received its fair share of criticism related to issues of neglect and abuse, the space is currently coming under less fire than some state-regulated group homes. In most U.S. states, the details of investigations into neglect and abuse at state-regulated group homes are almost never publicly available, according a […]
An activist shareholder is once again coming out strong against the proposed $7.4 billion merger of Care Capital Properties, Inc. (NYSE: CCP) and Sabra Health Care REIT, Inc. (Nasdaq: SBRA) — now describing the August 15 vote on the matter as essentially “a shareholder referendum on whether Sabra should continue with the prior strategy of steadily diversifying its […]
Long-term care is getting a facelift in the Beaver State. Specifically, the Oregon state legislature recently passed House Bill 3359 (HB 3359), which is meant to improve the quality and safety of long-term care settings statewide. The bill, for instance, mandates that all administrators of residential care facilities, including assisted living and memory care communities, receive […]
In a move that harkens back to its more clinical roots, Five Star Senior Living Inc. (Nasdaq: FVE) has laid the groundwork to expand its rehabilitation services beyond the walls of its own communities. The Newton, Mass.-based skilled nursing and senior living provider has rebranded its rehabilitation and wellness division as Ageility Physical Therapy Solutions—a […]
A recently filed lawsuit alleges that U.S. investors moving to acquire 14 skilled nursing facilities and other senior housing properties actually were tricked by Canadian fraudsters. Illinois-based developer SSU LLC, which does business as Sunny Side Up, filed a lawsuit for $36 million in damages against Ontario-based Paramount Equity Financial Corporation, Canadian businessman Enzo Mizzi, […]
Senior housing investors are excited to grow their portfolios in 2017, but not necessarily through skilled nursing acquisitions, according to the latest CBRE U.S. Seniors Housing & Care Investor Survey. For the survey, commercial real estate services and investment firm CBRE Group, Inc. (NYSE: CBG) polled 74 influential senior housing developers, investors, brokers and lenders throughout the […]
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