Earnings season has brought a flurry of news from publicly traded skilled nursing operators and landlords, so in case you missed them the first time around, here’s a quick glance at the biggest stories in the SNF world from the past week — including a major structural shakeup at a leading provider. After a judge […]
Skilled nursing operator Ensign Group, Inc. (Nasdaq: ENSG) is experiencing a “positive shift in momentum” in its core skilled nursing business, and is hoping to capitalize on this energy in its other business lines. The Mission Viejo, Calif.-based company also provides assisted living, rehabilitative care, home health and hospice services. In the third quarter. the […]
Citing a declining census, rising nurse wages, and decreasing reimbursements, Genesis Healthcare (NYSE: GEN) this week announced a major restructuring of its leases with top landlords. The Kennett Square, Pennsylvania-based skilled nursing and post-acute care provider said it reached non-binding agreements with real estate investment trusts (REITs) Welltower, Inc. (NYSE: HCN) and Sabra Health Care […]
A deal is being hammered out between skilled nursing giant Genesis HealthCare (NYSE: GEN) and its landlord Welltower Inc. (NYSE: HCN), which is meant to improve Genesis’ capital structure. Welltower, a Toledo, Ohio-based real estate investment trust (REIT), announced the likely transaction in conjunction with releasing its third-quarter 2017 earnings results Tuesday, though details were […]
Construction: In progress Work Underway for $30 Million Rehab Facility in Maryland Construction is moving along for a new FutureCare Health and Management rehab center in Landover, Md. The $30 million center will have 82 private and 34 semi-private rooms as well as perks and services such as a spa, salon, dialysis, ventilator unit, library, a media […]
Quality Care Properties, Inc. (NYSE: QCP) on Thursday granted yet another reprieve to its troubled tenant, HCR ManorCare. The Toledo, Ohio-based skilled nursing provider now has until December 1 to respond to a receivership claim that QCP originally filed in August. It’s the third such delay that the real estate investment trust (REIT) has granted […]
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 […]
CareTrust REIT Acquires Three SNFs in Southern CA CareTrust REIT (Nasdaq: CTRE) acquired three skilled nursing facilities and provided mortgage financing for a fourth in Southern California. The San Clemente, Calif.-based real estate investment trust entered a new tenant relationship with affiliates of Providence Group in connection with the deal. The total investment for the […]
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 […]
The dollar volume of senior housing and care properties changing hands dipped slightly in the third quarter of 2017—but nearly half of all deals that quarter involved skilled nursing properties or portfolios. About $2.5 billion worth of such acquisitions were publicly announced during the second quarter of 2017, according to the most recent statistics from Irving […]
Athena Health Care Buys Masonicare SNF in CT Athena Health Care Systems reached an agreement to purchase Masonicare’s Newtown, Connecticut skilled nursing facility and assisted living community, The Newtown Bee reported. The campus is licensed for 154 skilled nursing beds and 55 assisted living apartments, and the sale is expected to close by the end […]
Blueprint Arranges Sale of Two GA SNFs Blueprint Healthcare Real Estate Advisors helped arrange the sale of two Georgia skilled nursing and long-term care facilities on behalf of a publicly traded real estate investment trust (REIT). The two facilities — the 100-bed Etowah Landing in Rome, Ga. and the 210-bed River Towne Center in Columbus, […]
Among large swaths of the real estate investment community, reducing exposure to skilled nursing assets is considered a smart play at the moment. Given the uncertain regulatory landscape and shifting payment models, betting on SNFs may just not seem worth it. But several players in the SNF investment market believe that the asset class isn’t necessarily […]
Welcome to Skilled Nursing News’s weekly roundup of the top headlines you need to see to kick-start your morning — from a SNF with a curiously low asking price to more negative trends in occupancy to the long-term effects of a lawsuit over snacks in Pennsylvania. SNN readers flocked to the story of a former […]
Former Golden Living Building on Block for $1 A Pennsylvania building that once housed a Golden LivingCenter nursing home could sell for as little as $1. That’s the current bid as of Tuesday afternoon in an online auction for the defunct SNF in Cambridge Springs, Pennsylvania. Crawford County authorities currently own the 34,067-square-foot building, which was […]
It’s been a busy few weeks in the world of skilled nursing, from a flurry of mergers-and-acquisitions news to a major industry executive’s bold prediction about the future of custodial care. In case you missed them the first time around, here’s a quick recap of the biggest stories you need to read to catch up. […]
KeyBank Finances Kindred Sell-Off Deal KeyBank Real Estate Capital underwrote a $128 million loan for BM Eagle Holdings, the joint venture currently in the process of purchasing Kindred Healthcare’s (NYSE: KND) entire skilled nursing portfolio. The cash helped BM Eagle — a joint venture operated by affiliates of BlueMountain Capital Management, a New York City-based […]
Sabra Healthcare REIT, Inc. (Nasdaq: SBRA) last week made its first major skilled-nursing deal since merging with Care Capital Properties, buying the real estate associated with 24 SNFs for a total of $430 million: $378 million for the 21 properties that have already closed, and $52 million for three more set to close by the end […]
CareTrust REIT, Inc. (Nasdaq: CTRE) continues to snap up skilled nursing facilities previously operated by Kindred Healthcare, Inc. (NYSE: KND), announcing on Tuesday the acquisition of 13 properties in Washington, Texas and Idaho. The deal includes all seven former Kindred SNFs in Idaho, which are now operated by the Eagle, Idaho-based provider Cascadia Healthcare, LLC, as […]
Kindred Healthcare, Inc.’s (NYSE: KND) exit from the skilled nursing industry continued Monday morning as the company announced the formal sale of 14 more SNFs. The Louisville, Ky.-based operator offloaded 12 of those properties, along with four assisted living facilities, as part of an ongoing transaction with buyer BM Eagle Holdings. The 16 properties had […]
By continuing to use the site, you agree to the use of cookies. More Information
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this. For more information, see our cookie policy.
