LTC’s Simpson: Senior Care Centers Bankruptcy Has Dragged, but REITs Aren’t to Blame for Distress

When the Dallas-based skilled nursing operator Senior Care Centers filed for Chapter 11 bankruptcy protection last December, management placed the blame firmly on its leases with its real estate investment trust (REIT) and other landlords, specifically calling them “expensive.” But Wendy Simpson, president and CEO of SCC landlord LTC Properties, Inc. (NYSE: LTC), says the […]

Bridgemoor Opens $20M Rehab Facility; Centre Care Breaks Ground on $45.3M SNF

Bridgemoor Transitional Care opened to the public a newly built short-term rehabilitation facility in Webster, Texas, with a final price tag of $20 million. Specifically targeting post-acute residents, the new Webster facility features 70 private suites equipped with bathrooms, an in-house pharmacy, and dialysis coordination, along with high-end food options and a salon. “Our Webster […]

Former Mainstreet Executive Takes Over Four Rapid Recovery Centers in Texas

The operations of four rehab-focused skilled nursing facilities developed by Mainstreet have been sold to a former company executive and his newly formed operating firm, Skilled Nursing News has learned. Led by Mark Fritz, who helped create the “Rapid Recovery Center” model for the Carmel, Ind.-based senior care developer, Bridgemoor now operates the quartet of […]