LTC Settles With Abri, Senior Care, Transfers 11 SNFs in Texas to HMG Portfolio

Real estate investment trust LTC Properties (NYSE: LTC) late Tuesday announced it entered into a settlement agreement with Senior Care Centers and Abri Health Services, collectively known as the “Lessee,” among others. The settlement — approved in the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division — includes a one-time payment of […]

LTC Properties ‘Cautiously Optimistic’ On Entering Recovery Stage of COVID, But Rental Income Declines

With vaccines administered to seniors at high rates, LTC Properties, Inc. (NYSE: LTC) is optimistic that new residents will be coming back to skilled nursing facilities and senior living properties — and though it’s not clear how quickly census will recover, CEO and chairman Wendy Simpson is encouraged by the “anecdotal evidence” from the real […]

A Month After Emerging From Senior Care Centers BK, Nursing Home Operator Abri Files for Chapter 11

Abri Health Care, the company that emerged from the bankruptcy of skilled nursing operator Senior Care Centers, itself filed for Chapter 11 bankruptcy protection on April 16, according to landlord LTC Properties (NYSE: LTC) and court filings. Senior Care Centers LLC, now an Abri subsidiary, is owned 100% by Abri Health Services, LLC, which in […]

LTC Properties to Transition 11 Abri/Senior Care Centers SNFs to HMG Healthcare After Default

LTC Properties (NYSE: LTC) late Thursday announced that it will transition 11 skilled nursing facilities currently controlled by Abri Health Services/Senior Care Centers to a new operator after sending a notice of default over non-payment of March rent. The Texas-based HMG Healthcare will assume operation of the 1,400-bed portfolio sometime in the second quarter of […]

Abri Health Care, Formerly Senior Care Centers, Announces Ownership Change

Senior Care Centers, which went through Chapter 11 bankruptcy proceedings over the course of 2018 and 2019, has re-emerged as Abri Health Care under the control of a new ownership group, the company announced late Tuesday. An investment group led by current management has acquired the equity in the Dallas-based Abri, according to a statement. […]