The long-term financial viability of nursing homes will be seriously challenged as operators face the fallout from the complete wind down of public health emergency (PHE) funds. This is especially true for nonprofit organizations, with many facilities unable to fund existing staffing levels. According to a report published in Health Affairs Covid-19 PHE funds allowed […]
Category: Finance
Sabra Healthcare REIT (Nasdaq: SBRA) has had several quarters in a row of continuing occupancy and rent coverage improvement in all of its primary asset classes, including skilled nursing, distancing themselves from the pandemic, leaders said. Meanwhile, its investment pipeline is seeing more activity in the past months, with primarily deals of one or two […]
A U.S. Bankruptcy Court approved the sale of eight of Guardian Healthcare’s nursing facilities to GBK Eight LLC on Wednesday. This follows Guardian’s completion of the transfer of operations at 11 skilled nursing facilities to Oxford Valley Health on Tuesday. “All the facilities remain open and are focused on delivering quality care, ensuring the health […]
Omega Healthcare Investors (NYSE: OHI) executives remained optimistic about occupancy growth, although ongoing staffing pressures at partner nursing homes in certain states contributed to bottlenecks at hospitals. The Maryland-based real estate investment trust (REIT) reported a strong third quarter, with executives touting a strong investment pipeline amid a flurry of dealmaking for the sector at […]
Capital Funding Group announced the closing of a $207.1 million bridge-to-HUD term loan for the partnership buyout of 13 skilled nursing facilities in Florida. CFG closed on the loan on behalf of 980Investments, a national real estate investment company, the financing firm said in a statement on Thursday, and provided $15 million in accounts receivable […]
Leaders with CareTrust REIT (NYSE: CTRE) added more detail surrounding the company’s latest investments, including the acquisition of 31 skilled nursing facilities in Tennessee and Alabama for $500 million, along with another transaction yet to close for $57 million involving four skilled nursing facilities located in the Northeast. American Health Partners was announced as the […]
With reporting from Amy Stulick CareTrust REIT (NYSE: CTRE) and a joint venture partner have reached an agreement to acquire a portfolio of 31 skilled nursing facilities for approximately $500 million, the company’s largest acquisition to date. San Clemente, California-based CareTrust anticipates that most of the facilities will be operated by existing partners of the […]
Ohio-based Premier Health is transitioning two nursing homes in Ohio to Otterbein SeniorLife and Vancrest Healthcare Centers. Otterbein SeniorLife is adding to its portfolio the SpringMeade Health Center, which is appraised at $4.9 million, according to county records. The sale price was not disclosed. The sale of SpringMeade was prompted by the recent partnership with […]
Ensign Group’s (Nasdaq: ENSG) strong quarterly earnings were fueled by solid operational performance at transitioned facilities. Encouraged by recent acquisition success, executives said they plan to expand into new states while prioritizing growth in existing markets. “We’re particularly impressed with these results given that we’ve added 53 new operations across several markets in our recently […]
Nursing home jobs rebounded in September, more than offsetting the dip experienced in the previous month, and added 3,900 positions, as nursing care prices also saw the highest growth compared to other health care services. According to Altraum’s October’s Health Sector Economic Indicators brief released Wednesday, prices for nursing home care rose by 4.4% year […]
Strawberry Fields REIT entered into a purchase and sale agreement for eight health care facilities located in Missouri, while Dwight Capital closed a $61 million HUD refinance loan for a 250-bed SNF in New York. Strawberry Fields Agreement Strawberry Fields REIT (NYSE American: STRW) entered into a purchase and sale agreement for eight health care […]
A dire shortage of clinical care workers in the nursing home sector along with slower growth in the number of nursing care beds is leading to added concerns over access issues for long-term care in certain states in the coming decades. In Wisconsin, a recent study issued at the end of September by Forward Analytics, […]
NHI acquired a $121.3 million long-term care portfolio, while a regional operator received $59.25M in financing for three skilled nursing facilities (SNFs) in Illinois. NHI Acquires $121.3M Portfolio National Health Investors (NYSE: NHI) announced Thursday that it is purchasing a portfolio of 10 assisted living and memory care communities in North Carolina for $121.3 million. […]
The nursing home sector is on a positive trajectory, and real estate investment trusts (REITs) at the forefront of investments say that stability is favoring greater deal activity in the sector. Despite challenges in staffing, rising operational expenses, and increasing regulatory burdens, particularly in certain states, executives from National Healthcare Investors (NYSE: NHI) and CareTrust […]
Athena Health Care Systems, once the largest owner of nursing homes in Connecticut, announced that it will close another nursing home. The Abbott Terrace Health Center will be shuttered by November 8, with Athena citing the loss of federal reimbursement as the driving factor. This decision will result in the termination of more than 200 […]
The third quarter of 2024 marked a record-breaking period for senior housing and care acquisitions, with a substantial year-over-year jump seen during the quarter for skilled nursing deals as well. That’s according to data released Monday from LevinPro LTC. There were 175 total deals for the quarter, of which 37% were skilled nursing transactions. Skilled […]
Ensign Group’s (Nasdaq: ENSG) acquisition of a Nebraska-based health care campus with an 83-bed skilled nursing facility expands its portfolio to 324 operations across 14 states. Meanwhile, Ziegler closed $48.7 million in acquisition financing for EveryAge and $82.27 million in financing for Presbyterian Retirement Communities Ensign acquires health 83-bed care campus in Nebraska The Ensign […]
CareTrust REIT (NYSE: CTRE) announced Thursday the acquisition of a four-facility, 396-bed skilled nursing portfolio located in the Mid-Atlantic region for approximately $74.7 million. This acquisition includes a skilled nursing and assisted living campus with 47 assisted living units. As part of the acquisition, CareTrust entered into a triple-net master lease with a new operator […]
Pennsylvania bankruptcy court late Monday approved the $53 million sale of nine nursing homes in the state to affiliates of Kadima Healthcare Group, as part of Chapter 11 bankruptcy proceedings for more than a dozen facilities operating under Comprehensive Healthcare Management Solutions. Notably, transaction documents do not transfer assets to any insiders, affiliates, officers or […]
Construction began on Sanford Health’s long-term care property in Sioux Falls, which has a capacity for 500 residents and will eventually include 120 short-term rehab and skilled nursing beds. Meanwhile a REIT divested its Florida-based 118-bed skilled nursing facility. Sanford Health’s senior community with SNF component Sanford Health officially broke ground on Monday for the […]
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