CareTrust REIT (NASDAQ: CTRE) is growing in Illinois after acquiring the Imboden Creek Living Center, Gardens and Villas campus in Decatur, Ill. this month. CareTrust’s initial investment in the facility, inclusive of capital expenditure commitments and transaction costs, was roughly $13.1 million. The campus includes 95 licensed skilled nursing beds, 46 assisted living units and […]
CareTrust REIT
While the Biden administration is seemingly trying to push private equity out of the skilled nursing sector, there seems to be growing confusion and frustration on how blaming such a small fraction of the overall sector is going to solve some of the challenges the industry currently faces. The skilled nursing market has been one […]
As state and federal policymakers clamor to set nursing home minimum staffing standards – most recently in the Biden administration’s expansive reform proposals – leaders in the space are asking a pointed question: Why now? The industry has already lost nearly 238,000 caregivers in the last two years – an issue that has only been […]
CareTrust REIT (Nasdaq: CTRE) has a new CEO and is embarking on what leadership is calling a pivotal year as the company takes steps to mitigate the risk in its portfolio and pursue new avenues, while remaining active in its core business markets. It’s been a busy few months for new CEO David Sedgwick. The […]
CareTrust REIT (Nasdaq: CTRE) discussed efforts to de-risk its portfolio, detailing plans to repurpose 32 of its assets while still remaining active in the market, during a fourth financial quarter earnings call on Thursday. The 32 assets – a mix of skilled nursing and seniors housing – represent approximately 10% of the real estate investment […]
CareTrust REIT (Nasdaq: CTRE) plans to sell, re-tenant or repurpose up to 32 of its assets as 2022 is expected to be a “year of continued recovery” for most of the real estate investment trust’s operators. Those assets represent roughly 10% of contractural cash rent, according to CareTrust’s earnings announcement issued Wednesday. It was not […]
Utah-based Eduro Healthcare has acquired nine buildings in Texas in just under a year, including two skilled nursing facilities added last month. Through its expansion, Eduro has continued to build on its relationship with CareTrust REIT (Nasdaq: CTRE). And, Eduro’s model is similar to that of another CareTrust tenant, Ensign Group (Nasdaq: ENSG). By striking […]
Blueprint announced the sale of a large skilled nursing portfolio in Ohio this week for $145 million or roughly $73,000 per bed. The portfolio consists of over 2,000 skilled nursing beds spread across 17 facilities in the state. Originally purchased in 2018 by a joint venture between an experienced investor and a growing Ohio-based operator, […]
The COVID-19 pandemic continued to put pressure on an already strained skilled nursing industry in 2021. The next 12 months will be yet another test of resilience. Looking ahead to 2022, SNFs must stay nimble and inventive to not only survive but thrive. Private equity will continue to lead the nursing home transaction market pack, […]
CareTrust REIT (Nasdaq: CTRE) will ring in 2022 with a new CEO, the real estate investment trust announced Friday, amid reports that the company may be considering a sale. David Sedgwick, currently CareTrust’s president and chief operating officer, will succeed founding chairman and CEO Greg Stapley, who will continue to serve as executive chairman during […]
After skilled nursing occupancy recovery declined in September for the first time in seven months, some analysts are concerned that consistent staffing shortages will impact the real estate investment trusts who are landlords to operators nationwide, at least in the near-term, according to a Dec. 8 note from BMO Capital Markets. National data collected from […]
CareTrust REIT Inc. (Nasdaq: CTRE) is considering a sale, among other strategic options, according to unnamed sources cited by Bloomberg. The San Clemente, Calif-based real estate investment trust (REIT) is working with an advisor to gauge interest from potential suitors, including competitors in the skilled nursing space and other real estate-focused investment firms, as reported […]
With plans to launch an in-house real estate investment trust (REIT) in the coming months, The Ensign Group will look to continue its work as a “turnaround organization” that takes troubled operations and transforms them into state-of-the-art facilities. That’s according to Ensign CEO Barry Port, who shared his priorities for 2022 during a presentation at […]
CareTrust REIT (Nasdaq: CTRE) expects its skilled nursing assets to return to pre-pandemic occupancy by next summer, with continued recovery from the second to third financial quarter ending Sept. 30. About 60% of the real estate investment trust’s (REIT) skilled nursing operators are “within 90% of their pre-pandemic census or better,” David Sedgwick, president and […]
The average price per bed for nursing homes rose almost 22% year over year for the first quarter of 2021, as staffing shortages and slow occupancy recovery has done little to cool an already heated market, leaving some real estate investment trusts most active in the space disconcerted of what the future may hold. “If […]
The current skilled nursing market continues to be red hot with some of the larger, more aggressive groups paying prices that are $17,000 more per bed compared to 2020 in terms of evaluation, Evans Senior Investments data from more than 425 facilities reveals. “Despite the pandemic and everything else that is going on in the […]
CareTrust REIT (Nasdaq: CTRE), which has 158 skilled nursing facilities in its 223-asset portfolio, collected 100% of rent from its tenants in the second quarter. With an active deals pipeline that tilts heavily toward skilled nursing, the real estate investment trust (REIT) continued to be aggressive on the acquisition front in the second quarter, Chief […]
The American Health Care Association and National Center for Assisted Living (AHCA/NCAL) are making another push for the federal government to release the remainder of the Provider Relief Fund (PRF) established by the CARES Act. This comes at the heels of the organization’s most recent survey, which revealed that only a quarter of nursing homes […]
Omega Healthcare Investors (NYSE: OHI) may provide summertime rent relief to one of its skilled nursing tenants, as the delay in federal financial relief is causing strains on operators. The Florida-based operator told the Maryland-based real estate investment trust (REIT) that it would need help with its June rent, roughly $2.5 million, according to a […]
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 […]
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