Some long-term care and senior living industry leaders are feeling good buying properties heading into the fourth quarter of 2017—though some of that optimism may rest with senior housing. More than 150 senior housing and health care company executives weighed in on the 12-month outlook for the industries as part of a new survey from Capital […]
Diversicare and Omega Negotiate New Master Lease Omega Healthcare Investors (NYSE: OHI) entered into a new master lease with tenant Diversicare Healthcare Services, Inc. (Nasdaq: DVCR), locking in 35 properties for the next 12 years. The move will consolidate two separate leases currently shared between the Brentwood, Tenn.-based Diversicare and the Hunt Valley, Md.-based Omega: […]
Investors have been less interested in buying skilled nursing properties this year, as they have shifted their attention more toward private-pay assisted living. Overall transaction velocity in the skilled nursing sector has declined 17% over the past year, according to a new report from Marcus & Millichap, a Calabasas, Calif.-based commercial real estate brokerage and research […]
Sabra Health Care REIT (Nasdaq: SBRA) on Monday announced a pair of major moves, revealing a plan to buy 24 skilled nursing and transitional care units on the West Coast — and taking concrete steps to sell off its remaining 43 properties operated by Genesis HealthCare (NYSE: GEN) by the end of next year. The […]
HCR ManorCare President and CEO Paul Ormond has left his position as the skilled nursing provider continues to work through a potential restructuring with its landlord, real estate investment trust Quality Care Properties, Inc. (NYSE: QCP). The Bethesda, Md.-based REIT first announced Ormond’s departure from HCR ManorCare on Monday; he has already been replaced by […]
Construction: Planned Genesis to Open $21 Million SNF in Maine Genesis Healthcare is planning to open a 90-bed, $21 million nursing home at a health care campus in Sanford, Maine. The new skilled nursing facility will be built and owned by the Sandy River Company, and operated by Genesis Healthcare, according to Bangor Daily News. […]
Sabra Health Care REIT’s (Nasdaq: SBRA) definitive agreement to purchase a 49% equity interest in a joint venture that owns 183 senior housing communities clarifies exactly how Sabra plans to grow, according to company CEO Rick Matros. “Everybody was freaking out,” Matros explained to Skilled Nursing News, referencing certain investors’ reactions to Sabra’s recently approved merger with skilled nursing REIT Care […]
By October 1, Cascadia Healthcare will operate all seven of the skilled nursing facilities previously run by Kindred Healthcare (NYSE: KND) in Idaho — but its new landlord isn’t the company that agreed to buy Kindred’s entire SNF portfolio at the end of June. The Eagle, Idaho-based Cascadia will lease the seven former Kindred SNFs […]
Sabra Health Care REIT (Nasdaq: SBRA) took a major step toward reducing its skilled nursing concentration on Tuesday, announcing the acquisition of a minority stake in a $1.6 billion assisted living portfolio. Sabra’s 49% stake in the deal, which includes 183 senior housing communities operated by the Chicago-based Enlivant, works out to about $371 million. […]
Construction: Planned Ciena Healthcare Plots SNF in Michigan Local officials recently gave the go-ahead to a planned skilled nursing facility in Grand Haven Township, Mich. Ciena Healthcare in 2019 will break ground on the Regency at Grand Haven, a 120-bed SNF, reports the Grand Haven Tribune. Diversicare Community in Missouri Seeks to Add Rehab Units A […]
Ohio Skilled Nursing Facility Sold for $7.5M An Ohio skilled nursing facility (SNF) is under new management after being sold for $7.5 million by Kettering Health Network, a hospital system based in Dayton, Ohio, the Dayton Daily News reported. The former Greene Oaks Retirement Center, now called Harmony Center for Rehabilitation & Healing, was purchased by […]
As hospitals around the country decide to move away from skilled nursing and subacute services, a hotly contested proposed closure in San Francisco has highlighted a growing national issue. Sutter Health California Pacific Medical Center (CPMC) had plans to close its St. Luke’s campus, including its skilled nursing and subacute care operations. Following intense pressure from patient advocates […]
Fresh off the approval of its blockbuster merger with Care Capital Properties, Sabra Healthcare REIT, Inc. (Nasdaq: SBRA) on Friday trumpeted the better-than-estimated value of the deal — and predicted an orderly solution to one of its continuing problems. The company had been conservative in its pre-merger projections, CEO Rick Matros said on a conference […]
Before you start sifting through your inbox, here’s what you need to know from the world of skilled nursing news from the past week: Kindred Healthcare, Inc. (NYSE: KND) began its exit from the skilled nursing industry, announcing the $519 million sale of 54 SNFs in 10 states — out of a total of 89 […]
Sabra Health Care REIT (Nasdaq: SBRA) is pursuing a multi-pronged repositioning strategy to improve the performance of certain new additions to its portfolio, following the mega-merger with Care Capital Properties. The merger with real estate investment trust CCP added 359 properties, mostly skilled nursing, to Sabra’s existing portfolio of 205 skilled nursing, private-pay senior housing, […]
Over the past decade, the behind-the-scenes relationship between hospitals and skilled nursing facilities has warmed through more common investors, and researchers from Harvard University are raising questions about competition and antitrust regulations. The percentage of acute care hospitals having common investor ties to the post-acute or hospice sectors increased from 24.6% in 2005 to 48.9% in […]
Large regional care provider CommuniCare has announced it will take over 16 of Kindred Healthcare’s (NYSE: KND) former skilled nursing facilities in Indiana. The SNFs will provide rehab and holistic healing services, according to a press release. Current staffers are expected to remain in place during the transition. With the latest acquisition, the Cincinnati, Ohio-based provider now operates […]
Capital One Provides $16.3 Million Loan to Refinance PruittHealth SNF Portfolio Capital One announced that it provided a $16.3 million loan to PruittHealth to refinance a portfolio of three skilled nursing facilities (SNFs) and an intermediate care facility for individuals with developmental disabilities (ICF-MR) in Georgia, as well as a SNF in North Carolina. Four […]
Omega Healthcare Investors, Inc. (NYSE: OHI) on Tuesday announced the purchase of 15 skilled nursing facilities in Indiana, adding 2,074 SNF beds to the real estate investment trust’s (REIT) portfolio. The Hunt Valley, Md.-based Omega paid $190 million for the facilities from a pair of unrelated sellers, then leased the properties to a single existing […]
Kindred Healthcare, Inc. (NYSE: KND) on Thursday took the first step toward its planned exit from the skilled nursing space, announcing the sale of 54 SNFs in 10 states. The $519 million transaction involves the majority of the 89 total SNFs and seven assisted living facilities that Kindred will sell to BM Eagle Holdings — a joint […]
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