Invesque (TSX: IVQ) sold seven skilled nursing facilities in Illinois for $101.3 million to an unnamed buyer as it continues its push towards focusing on private pay seniors housing, the company said on Monday. The company’s CEO and chairman, Scott White, spoke to Skilled Nursing News on the company’s latest move amid its ongoing business […]
Invesque
Skilled nursing operators should anticipate further distress in the coming months and into 2023, which will likely result in even greater divides among providers. The winners and losers already are being sorted, as the latest round of real estate investment trust (REIT) earnings made clear. And unsurprisingly, strong regional operators are leading the pack. Welltower […]
As Invesque (TSE: IVQ.U) continues its move toward a primarily private-pay, seniors housing portfolio, the company announced it is down to only four skilled nursing operator relationships across 17 properties. The Canadian-listed company with U.S. headquarters in Indiana announced its latest SNF divestitures during the third quarter, according to CEO Scott White: the $25 million […]
The skilled nursing bump in Medicare rates was a “positive surprise” for leadership at Invesque (TSE: IVQ.U), as most in the industry expected payment rates to decrease heading into next year. Bryan Hickman, senior vice president of investments at Invesque, said the change – in the form of a 2.7% increase to Medicare payment rates, […]
Invesque (TSE: IVQ.U) continues its shift toward private-pay assets, a move that brings the health care real estate investment trust a more robust seniors housing portfolio – while its skilled nursing assets dwindle. Dispositions announced during the last three financial quarters have brought pro forma net operating income (NOI) for seniors housing to 60%. Just […]
Park Ridge, Ill.-based Ignite Medical Resorts is entering Texas for the first time as the operator of four skilled nursing facilities acquired by LTC Properties (NYSE: LTC) in a $52 million deal. “We’re looking for strategic growth that fits our vision. For this project, it was for facilities in four major metro areas, all close […]
By Nick Andrews Invesque has plans to continue to trim its portfolio in 2022 following a big fourth-quarter push that led to a record-breaking year for dispositions. The latest transactions show continued movement away from skilled nursing and toward seniors housing. Carmel, Indiana-based Invesque (TSE: IVQ.U) sold more than $210 million in assets in 2021, […]
Invesque Inc. (TSE: IVQ.U) sold a five-property portfolio with a $93 million price tag to The Ensign Group, marking an end to the owner/operator relationship between the two companies. Invesque, which went public in June 2016 with skilled nursing making up 75% of its portfolio, continues to divest from the sector with nursing homes now […]
Invesque Inc. (TSE: IVQ.U) during its third quarter earnings call highlighted a continued shift to a majority private pay, seniors housing portfolio from when the company first announced its IPO five years ago, diminishing its skilled nursing assets in the process. When the Carmel, Ind.-based company went public in June 2016, skilled nursing made up […]
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 […]
Invesque Inc. (TSE: IVQ.U) admitted that current skilled nursing prices have made it think strategically about how to expand or divest in the space moving forward during its second quarter earnings call last week. It also updated its shareholders on its final series of deals with Symphony Care Network (SymCare). “Transactions have been closed at […]
The private sector has become more interested in investing in skilled nursing assets this past year into 2021, thanks to less competition from the public sector and (in some cases) distressed sales due to the pandemic. Public skilled nursing facility (SNF) owners like LTC Properties, Welltower Inc. and Omega Healthcare, meanwhile, are less inclined to […]
Invesque Inc. (TSE: IVQ.U) on Thursday updated shareholders on its continued separation from Symphony Care Network (SymCare) during its first quarter earnings call, with an intended 50 percent drop in SymCare assets long term. The Carmel, Ind.-based real estate investment firm began the first phase of its divestiture with the $20 million sale of its […]
Invesque Inc. (TSE: IVQ.U) on Thursday indicated that talks to finalize the details of a transaction to cut its exposure to Symphony Care Network, its largest skilled nursing operator tenant, continue — while recognizing no revenue from Bridgemoor Transitional Care. In the third quarter of 2020, Invesque reported that it was taking steps to reduce […]
Invesque Inc. (TSE: IVQ.U) this week reported significant COVID-19 strains on a pair of its post-acute care tenants, with the skilled nursing landlord taking steps to reduce its exposure to Symphony Care Network and reporting no revenue from Bridgemoor Transitional Care. The real estate investment firm will either sell or transition operations at half of […]
The Future Leaders Awards program is brought to you in partnership with PointClickCare. The program is designed to recognize up-and-coming industry members who are shaping the next decade of senior housing, skilled nursing, home health and hospice care. To see this year’s future leaders, visit Future Leaders online. Bryan Hickman, senior vice president of investments […]
With the new Medicare overhaul set to take effect on October 1 and the recent finalization of a Medicare rate boost for fiscal 2020, leaders at Invesque Inc. (TSX: IVQ.U) were upbeat about the future of its skilled nursing facilities in its second-quarter earnings call Thursday. In its earnings release, Invesque highlighted the formation of […]
As real estate investment firm Invesque Inc. (TSX: IVQ.U) continues its diversification plan after a 2016 separation from skilled nursing operator Mainstreet, its CEO insists that the future for the SNF space remains bright. In fact, Scott White’s Invesque — known as Mainstreet Health Investments until late 2017 — continues to own buildings developed by […]
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 […]
CareTrust REIT (Nasdaq: CTRE) this week announced the $49.3 million acquisition of four skilled nursing facilities in California operated by Covenant Care, Inc. The 503-bed portfolio comes to the San Clemente, Calif.-based real estate investment trust (REIT) through a sale-leaseback arrangement, with initial annual cash lease payments of $4 million and a 15-year term. The […]
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