Five Star Senior Living (NYSE: FVE) has officially exited the skilled nursing business as part of a wider plan to shift its focus toward independent living and active adult properties, the company announced on Thursday. The Newton, Mass.-based Five Star announced back in April that it would close or transition skilled nursing units at all […]
Five Star Senior Living
Diversified Healthcare Trust entered into a new management agreement with Utah-based Stellar Senior Living for nine skilled nursing communities, the REIT announced Monday. It also includes one continuing care retirement community which totals 1,152 units in Colorado, Texas and Wyoming within its Senior Housing Operating Portfolio. The deal is part of DHC’s plan to close […]
Persistent skilled nursing headwinds played a role in the decision for Five Star Senior Living (Nasdaq: FVE) to close and repurpose all the health care units in its continuing care retirement communities (CCRCs). “Over the past several years, we have strategically reduced our exposure to skilled nursing, a line of business that has been subject […]
Five Star Senior Living (NYSE: FVE) on Friday announced that it will exit the skilled nursing business as part of a wider plan to trim its footprint and shift its focus toward independent living and active adult properties. The Newton, Mass.-based Five Star will close or transition the skilled nursing units at all of its […]
Just about a week after changing hands, four skilled nursing facilities in Nebraska announced plans to soon shut down amid financial difficulties that their new owners blamed on a tough overall state budget landscape. The four facilities — Blue Hill Care Center in Blue Hill, Crestview Care Center in Milford, Mory’s Haven in Columbus, and […]
A week after announcing plans to sell all of its standalone skilled nursing assets as part of a larger portfolio reshuffle, Senior Housing Properties Trust (NYSE: SNH) pulled off a three-SNF sale in California. The real estate investment trust (REIT) sold three buildings in Van Nuys, LaSalette, and Thousand Oaks, Calif., with a total of […]
A month after announcing a $900 million disposition plan with a specific focus on standalone skilled nursing assets, the president of Senior Housing Properties Trust (Nasdaq: SNH) confirmed that the company intends to sell all remaining single-site SNFs in its portfolio. “We’re marketing and selling all of our standalone skilled nursing, and are very far […]
Amid a major restructuring with one of its primary tenants, Senior Housing Properties Trust (NYSE: SNH) is looking to shed up to $900 million worth of its assets — with standalone skilled nursing facilities in the crosshairs. The Newton, Mass.-based real estate investment trust (REIT) earlier this week announced a overhaul of its longstanding relationship […]
Five Star Senior Living (Nasdaq: FVE) reported net losses for both the fourth quarter and fiscal 2018 amid uncertainty about its ability to continue as a going concern. The losses came even as Five Star reported a slight uptick in occupancy in its service lines. The Newton, Mass.-based company operated 284 senior living communities in […]
Five Star Senior Living (Nasdaq: FVE) president and CEO Bruce Mackey is stepping down at the end of December, the Newton, Mass.-based provider announced Tuesday. Katherine Potter, who currently serves as Five Star’s executive vice president and general counsel, will assume the roles of president and CEO effective New Year’s Day. Potter first joined Five Star in 2012; […]
Five Star Senior Living (Nasdaq: FVE) raised concerns Wednesday about its ongoing viability after reporting losses of $50.4 million so far in 2018. “Five Star faces challenges that are currently negatively impacting its revenues, expenses, cash flows and results from operations, and Five Star expects these challenges to continue at least through 2019,” the Newton, […]
Five Star Senior Living (Nasdaq: FVE) is evaluating the future of some skilled nursing units at certain continuing care retirement communities (CCRCs), amid a decline in the product type’s occupancy and revenue. Occupancy at the the Newton, Massachusetts-based operator’s owned and leased senior living communities was 81.4% for the second quarter of 2018, a 170 […]
Five Star Senior Living’s (NYSE: FVE) standalone skilled nursing assets continued to cause headaches for the provider, which saw occupancy and revenues again take a tumble in the first quarter of 2018. Occupancy at the Newton, Mass.-based Five Star’s standalone skilled nursing facilities dropped to 75.7%, or 410 basis points lower than at the same […]
Skilled nursing occupancy troubles hit Five Star Senior Living (Nasdaq: FVE) in the fourth quarter, bruising the company’s earnings. The Newton, Mass.-based senior living operator saw a $2.7 million decrease in skilled nursing revenue, mostly from its leased standalone skilled nursing facilities. Occupancy at the leased SNFs dropped to 78%, down 220 basis points from the […]
For the first time in more than a decade, the U.S. Centers for Disease Control and Prevention (CDC) is reporting widespread cases of the flu in 49 states — and the historic bug could have an effect on nursing providers’ bottom lines. In fact, in the 13 years that the CDC has been conducting surveillance […]
For some older adults, the transition into a senior living community starts from the home, typically when they’ve reached a stage in their lives where they may be looking to downsize. As they age and their care needs require greater attention, the next common step is for them to ultimately move into a skilled nursing […]
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 […]
It’s no secret that Five Star Senior Living (Nasdaq: FVE) is in a bit of a slump right now, and that’s especially evident in its ongoing battle with sagging occupancy rates. But one place where things look brighter for the company is its rehab and wellness services. In July, Five Star formally unveiled its full plan to expand […]
In a move that harkens back to its more clinical roots, Five Star Senior Living Inc. (Nasdaq: FVE) has laid the groundwork to expand its rehabilitation services beyond the walls of its own communities. The Newton, Mass.-based skilled nursing and senior living provider has rebranded its rehabilitation and wellness division as Ageility Physical Therapy Solutions—a […]
Construction: Planned $20 Million Retirement Home Planned in Nebraska Vetter Health Services plans to build a $20 million retirement home in Kearney, Neb., reports the Kearney Hub, a local news site. The campus, dubbed Brookestone Gardens Retirement Campus, will house a 60-bed skilled nursing facility and 40 assisted-living apartments. Brookstone Gardens is currently scheduled to open in 2018. […]
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