San Clemente, Calif.-based CareTrust REIT (Nasdaq: CTRE) has transferred operations of its four Five Oaks Healthcare facilities to affiliates of the Ensign Group (Nasdaq: ENSG) as of June 1. The skilled nursing facilities, all in Washington, were added to a long-term, triple-net master lease between the real estate investment trust and San Juan Capistrano, Calif.-based […]
Just like with COVID-19 infection, no one was immune when it came to senior housing operators and the subsequent financial challenges created by the pandemic. It affected every community type – all sizes, all business models— including skilled nursing. All have been struggling with occupancy. Recent numbers from CliftonLarsonAllen show that as of January 2021, […]
Looking to the future, skilled nursing facilities will need to get creative and find new ways to attract patients and their families in a post-acute care continuum that’s becoming more and more crowded and competitive. A report from Plante Moran looking at how SNFs can rebound from the pandemic shows that nearly 500 surveyed by […]
The pandemic recovery continues to present unsettling conditions for the economic wellbeing of older and somewhat struggling skilled nursing facilities. Steady stimulus funding provided by the federal government and other sources such as the CARES Act has helped sustain some communities that have been met with rising expenses and falling census. December 2020 occupancy rates […]
The pandemic has accelerated a shift to private rooms in the skilled nursing space, an attempt to help curb infection, with 31 percent of operators making the change in some capacity last year. Chicago-based speciality investment bank Ziegler reported the statistic during a CFO workshop in April — research also showed 47 percent of operators […]
Senior Living Investment Brokerage Sells Skilled Nursing Facility Azalea Gardens Senior Living Investment Brokerage, a leader in the senior housing transaction market, recently announced it facilitated the sale of Azalea Gardens at $11 million. The 170-bed and 137 operational bed skilled nursing community is located in Mobile, Alabama, and remains in a long-term lease with […]
Mostly positive news continues to make headlines when it comes the United States’ recovery from the COVID-19 pandemic, including that related to the conditions and census at skilled nursing facilities. Like all facets of operations during the past 14 months, senior living was hit hard, including its lending environment involving U.S. Department of Housing and […]
Formation Capital has a new CEO and is embarking on an investment strategy focused on creating new models of senior living and services. Atlanta-based Formation has been a prolific investor in the senior housing and care sector since its founding in 1999. As of last year, when long-time CEO Brian Beckwith departed, the firm was […]
Even before the pandemic, American Health Partners saw growth potential by expanding beyond a core of skilled nursing facilities. The Franklin, Tenn.-based firm operates 29 SNFs through its American Health Care arm, but it also provides a wide range of other services, from home health and hospice to psychiatric care to a nurse practitioner organization. […]
To improve the quality issues in nursing homes — many of which pre-dated COVID-19 but were brought into a harsh spotlight because of the pandemic — the entire system of skilled nursing care needs to be completely overhauled, according to one physician in the space. “I believe that our consistent failures in nursing home quality […]
Even prior to the onset of the COVID-19 pandemic, the team at Vi at Bentley Village knew that a skilled nursing facility with all single rooms was a necessity for the future. Leaders at the full-continuum senior living campus in Naples, Fla. set their sights on the conversion of their existing SNF about 18 months […]
For skilled nursing facilities, the ability to treat patients in place has far-reaching implications, perhaps most prominently in reducing unnecessary hospitalizations. Usually that reduction is framed in terms of cost, with penalties for hospitals and SNFs alike if a patient returns to the acute care setting too soon. SNFs that perform well in preventing resident […]
A range of people involved in the skilled nursing profession on many different levels — from hospitalists to reimbursement experts — have over the years consistently preached a key of success for skilled nursing facilities: Identify the needs of hospitals, and try to meet those needs. This is typically understood to mean taking on older […]
Like many senior living and care executives, Jill Wilson’s first reaction to the “small home” model of nursing homes was a mixture of curiosity and skepticism. The year was 2004, and Wilson was the chief financial officer of Otterbein SeniorLife, a Lebanon, Ohio-based non-profit that runs senior living communities and standalone nursing campuses. The CEO […]
Vi at Bentley Village in Naples, Fla., announced a $41 million redevelopment project for its skilled nursing facility, the Bentley Care Center, and its assisted living residences, both part of a campus that includes independent living and coach homes. The redevelopment is scheduled to begin in the third quarter of 2021, and includes redesigning the […]
COVID-19 cases in nursing homes have plummeted since the vaccination effort shifted into gear at the end of December, dropping by as much as much as 82% by the start of March. With the immediate crisis starting to abate, SNF operators are now faced with a daunting task: determining what comes next, and what the […]
The ink on ProMedica’s deal to acquire the operations of nursing home giant HCR ManorCare was barely dry, but the health system’s David Parker already had his eyes on further expansion. The Toledo, Ohio-based ProMedica made a huge splash in the post-acute and long-term care world in 2018 when it teamed with real estate investment […]
Whether COVID-19 will usher in a permanent demographic shift toward post-acute and long-term care in the home remains uncertain, but there’s clear evidence that single-occupancy rooms are becoming less of a nursing home luxury and more of the baseline cost of doing business. The demand for privacy had been growing before the pandemic, consulting firm […]
With federal relief propping up nursing home operations during the ongoing COVID-19 crisis, the mergers-and-acquisitions market has remained relatively stable over the past year — but buyers and sellers are already starting to adjust to a world where the full licensed bed capacity is more of a pipe dream than a realistic benchmark. Amy Sitzman, […]
Bank Leumi USA this week announced the completion of a $23.5 million deal covering four skilled nursing facilities and one assisted living property operated by Prestige Care. The family operator used the cash to refinance an existing asset-based loan revolver and a real estate term loan, with the goal of boosting liquidity and funding future […]
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