Skilled nursing providers may have some financial aid on the way from the federal government to help address the ongoing costs from COVID-19, according to speakers at multiple industry events last week. The speculation comes as the government issued new reporting requirements and deadlines for the federal aid SNFs received over the course of the […]
Providers can expect $10 billion of remaining CARES Act funds to go to the skilled nursing and senior living sector, according to sources at real estate investment trusts Sabra Health Care REIT (Nasdaq: SBRA) and CareTrust (Nasdaq: CTRE). About $3 billion of an $8.5 billion rural fund included in President Joe Biden’s American Rescue Plan […]
Aiming to win over skilled nursing operators and owners in need of residents, direct contracting entities say their connection with area hospitals can be a deciding factor in future partnerships. The U.S. Centers for Medicare & Medicaid Services (CMS) unveiled the direct contracting program in conjunction with its Primary Care First initiative. It includes three […]
Sabra Health Care REIT CEO Rick Matros was one of the few executives willing to take a stab at predicting the recovery of skilled nursing occupancy in the first quarter of 2021, with a projection that the numbers would return to normal in the first quarter of next year. Six months into 2021, he reiterated […]
Some nursing home operators may fear the push towards home-based care as direct competition, with their facilities still recovering from low occupancy rates caused by the pandemic. However, alternatives to traditional models — such as, Castell Health’s hospital-at-home program, which started in May 2020 and has admitted about 240 patients to date — have been […]
Though skilled nursing occupancy continues to tick upwards, the growth decelerated recently, which could have significant implications for the real estate investment trusts who are landlords to operators across the U.S., according to a June 6 note from BMO Capital Markets. The national data collected from nursing homes by the Centers for Medicare & Medicaid […]
Greystone announced that it provided a $35 million loan insured by the Department of Housing and Urban Development for the refinancing of a five-property, 558-bed nursing portfolio across southeast Wisconsin. The properties are located in Antigo, Burlington, Manitowoc, and Kenosha. Fred Levine originated the loans for New York City-based Greystone. Each of the non-recourse loans […]
Skilled nursing occupancy rose for two months in a row to close out Q1, ending March at 71.6%, according to a new analysis from the data service affiliated with the National Investment Center for Seniors Housing & Care (NIC). The NIC MAP Vision report drew from 29 contributors for March, representing 1,473 total SNF properties, […]
Mozart Healthcare was going to be a different kind of skilled nursing landlord. This was in 2018, before the viability of the traditional setup for operators and their real estate investment trust (REIT) landlords started to come into question publicly. The goal was to work closely with operator tenants, rather than being a distant entity […]
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 […]
After a year dominated by a global pandemic that proved especially deadly for the elderly, skilled nursing operators are navigating recovery thanks to the rollout of vaccines against COVID-19. But many operators are looking at not just how to return to normal, but how to build a foundation for the future after the pandemic. And […]
Blueprint Healthcare Real Estate Advisors recently announced its involvement in the sale of a 120-bed skilled nursing and long-term care facility in Erie, Pennsylvania. The facility is reportedly in a competitive submarket and its operating performance had been improving prior to the COVID-19 pandemic. Blueprint received as many as six bids from qualified prospects and […]
The last year has been difficult for skilled nursing providers but there are plenty of signs for optimism coming out of the pandemic according to George Mesires, Co-Leader, Senior Living & Care practice Faegre Drinker Biddle & Reath LLP. Skilled Nursing News got the chance to chat with Mesires about what he is seeing in […]
White Oak Healthcare Finances $25 Million for Aspen Skilled Healthcare White Oak Healthcare Finance LLC announced it funded a $25 million credit for Aspen Skilled Healthcare, Inc last week. White Oak will reportedly act as the sole lender and administrative agent of the asset-based senior credit facility and with the funds being used to finance […]
The total price per bed for nursing homes rose almost 22% year over year for the first quarter of 2021, reaching the second-highest price point for the sector ever recorded, according to the JLL Senior Housing & CARE Investor Survey and Trends Outlook report released Wednesday. The average price per bed for nursing homes hit […]
Bedrock Care Group is in full growth mode, with its recent acquisition of six ManorCare skilled nursing and rehabilitation centers in Pennsylvania; the operator plans to buy more centers within the state too. The eight-facility Royersford, Pa.-based management company announced the transaction on Tuesday, approximately doubling its employee count. With its acquisition, Bedrock now has […]
Walker & Dunlop real estate brokers Josh Jandris and Mark Myers laid out skilled nursing industry trends they’re seeing right now, pointing to a continued frenzy of transactions — with publicly traded real estate investment trusts being the sellers and large private companies as buyers. Health care systems are divesting their skilled nursing facilities too, […]
Commercial real estate finance firm Greystone and fellow lender and consulting firm MONTICELLOAM on Monday announced a joint venture combining their senior housing and health care lines of business. The joint venture is expected to provide a “one-stop-shop” of capital finance products for the health care and senior housing industries, the New York-based companies said […]
The nursing home operator SavaSeniorCare LLC and its related entities have agreed to pay $11.2 million to resolve allegations it violated the False Claims Act (FCA), the Department of Justice (DOJ) announced Friday. That amount encompasses both federal and state settlements, with additional payments possible “if certain financial contingencies occur,” according to the DOJ. The […]
Skilled nursing facilities across the U.S. saw incremental increases in median occupancy through the beginning of May, according to a new update from the professional services firm CliftonLarsonAllen (CLA), with nine states reporting an improvement of more than 5% between January 3 and May 2. However, it’s too early to tell if this improvement constitutes […]
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