CareTrust REIT (Nasdaq: CTRE) plans to sell, re-tenant or repurpose up to 32 of its assets as 2022 is expected to be a “year of continued recovery” for most of the real estate investment trust’s operators. Those assets represent roughly 10% of contractural cash rent, according to CareTrust’s earnings announcement issued Wednesday. It was not […]
Category: Finance
Despite some encouraging top-line trends, expenses increased 8.8% year-over-year for Welltower (NYSE: WELL) leading to “subpar bottom line” results to end 2021. Still, the real estate investment trust is hopeful that once the omicron variant fades, spending will normalize. Staffing costs, in particular, hit Welltower hard in Q4 2021. “I am pretty disappointed about the […]
Skilled nursing facilities saw the lowest cost increase compared to other long-term care settings in 2021. The national annual median cost for a semi-private room in a skilled nursing facility increased by 1.96% to $94,000 while a nursing home private room increased by 2.41% to $108,405, according to the Genworth 2021 Cost of Care Survey. […]
Lenders and operators agree the skilled nursing market continues to largely be a regional affair when it comes to prospective transactions – buildings are often considered within the context of others in a 15- to 20-mile radius, with national statistics oftentimes secondary. State or regional specific operators understand what’s happening with labor in those markets, […]
Welltower (NYSE: WELL) is planning for more U.K. growth amid a historic period of investment activity for the real estate investment trust. Reuben Brothers, a real estate company based in the United Kingdom is investing in an ownership stake in U.K. operator Avery Healthcare, one of Welltower’s largest operating partners. The terms of the deal […]
Skilled nursing operators are trying to adjust to how the Covid-19 pandemic changed the care continuum, with patients now embarking on different pathways after hospital stays. Not only are more patients going directly to home health, but long-term acute care hospitals (LTACHs) and inpatient rehabilitation facilities (IRFs) also have started to play more prominent roles […]
Utah-based Eduro Healthcare has acquired nine buildings in Texas in just under a year, including two skilled nursing facilities added last month. Through its expansion, Eduro has continued to build on its relationship with CareTrust REIT (Nasdaq: CTRE). And, Eduro’s model is similar to that of another CareTrust tenant, Ensign Group (Nasdaq: ENSG). By striking […]
While types of financing available to nursing homes have remained relatively consistent throughout the pandemic, the number of lenders has fluctuated, capital providers have said. In recent months more competition has come back into the skilled nursing marketplace, VIUM Capital Senior Managing Director Tony Ruberg told Skilled Nursing News, with larger players ready to be […]
Evans Senior Investments announced the sale of a 186-bed SNF in Indiana for $25 million or $134,000 per bed. The facility had historically been at 85% occupancy or above, but was not profitable at the time of marketing with census dropping to 72%. It was the seller’s only skilled nursing facility. The facility had a […]
With the company’s newly launched captive REIT valued at $1 billion and Covid-19 pressures starting to moderate, leaders with The Ensign Group (Nasdaq: ENSG) plan to bolster operations and expand in 2022. A third-party appraiser has valued Standard Bearer Healthcare REIT at $1 billion, Ensign announced in conjunction with its Q4 2021 earnings results. The […]
Some operators are seeing day-to-day staffing agency usage cost them both financially and clinically, with pricing for certain positions soaring while inconsistent staff are impacting care quality. Jay Moskowitz, CEO of Colorado-based Vivage Senior Living, said costs associated with certified nursing assistants (CNAs) via agency increased 41% between October 2020 and October 2021 for his […]
For one long-term care provider in Massachusetts, operating standalone skilled nursing facilities no longer fits into its long-term plans. And the challenges that led SALMON Health and Retirement to pursue recent skilled nursing transactions expand beyond Massachusetts, suggesting that other SNF operators — particularly companies running standalone facilities — face a host of issues that […]
Blueprint announced the sale of a large skilled nursing portfolio in Ohio this week for $145 million or roughly $73,000 per bed. The portfolio consists of over 2,000 skilled nursing beds spread across 17 facilities in the state. Originally purchased in 2018 by a joint venture between an experienced investor and a growing Ohio-based operator, […]
Curve Health raised $12 million in its latest Series A funding round, as the leaders behind the senior care technology platform have plans for significant growth in the next year. Curve Health’s platform includes telemedicine, health information exchange, data and predictive analytics and billing integrations, with the goal of avoiding unnecessary hospital trips and improving […]
Conditions stemming largely from the omicron variant of Covid-19 have halted the recovery process for one of the nation’s largest owners of skilled nursing facilities, Omega Healthcare Investors (NYSE: OHI). Luckily, omicron has not exacted too steep a toll on residents’ health, but it has created severe staffing challenges and suppressed occupancy; resulting liquidity issues […]
Sabra Health Care REIT (Nasdaq: SBRA) is expanding its presence in Canada, and growing its senior living footprint, through a joint venture with Sienna Senior Living (TSX: SIA). In an effort to focus more on its long-term and home health care segments, Extendicare on Thursday announced it would sell its 11 Esprit senior living communities […]
After doling out rent deferrals to Avamere Family of Companies for several months in 2021, Sabra Health Care REIT (Nasdaq: SBRA) announced Wednesday that it plans to amend its master lease with the Wilsonville, Ore.-based senior care provider. The changes to the lease structure will include reducing Avamere’s annual base rent on the current portfolio […]
Financial government support accompanying ongoing public health emergencies (PHEs) is considered a major factor in transaction activity, since so many facilities currently depend on such funding. What remains unclear is where that government support ship is headed as the industry continues into 2022. For operators, uncertain government funding could mean a continued rush of transactions […]
CIBC Bank USA closed $20.2 million in acquisition financing for two facilities in central Ohio. The facilities included 199 skilled nursing and 27 assisted living beds. The bank also provided a $2 million revolving line of credit that will be used to support the post-acquisition working needs of the facilities. In the Ohio deal, the […]
As health care consumer preference drives more skilled nursing operators to invest in private rooms and suites equipped with modern amenities, U.S. Department of Agriculture loans may be an option for operators in need of financial support for renovation and construction projects. Through the USDA’s Community Facilities Direct Loan & Grant program, the agency provides […]
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