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 […]
In the competitive world of short-term rehab, success depends on both who and what you know — and, by extension, how you tell your individual building’s story to the people whose opinions matter the most. The Medicare-focused building has been hailed as the future of skilled nursing and questioned as a difficult-to-achieve pipe dream, but […]
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 […]
Since going public two years ago, Invesque Inc. (TSX: HLP.U) — the former Mainstreet Health Investments — had steadily moved to diversify away from the skilled nursing assets that had previously dominated its portfolio. But that doesn’t mean that CEO Scott White has a bearish outlook on institutional care going forward. “Definitively, there is a […]
An unopened transitional rehabilitation facility developed by Mainstreet is facing foreclosure after the company fell behind on monthly interest payments. Avana Capital, an Arizona-based commercial lender, last week moved to foreclose on the $17.5 million Healthcare Resort of Wichita in Kansas, according to a Wednesday report in the Wichita Eagle. The 94-bed facility had initially […]
Lost in a flurry of news from the National Investment Centers for Seniors Housing & Care (NIC) Spring Investment Forum and harsh funding recommendations from MedPAC, here are some of the stories we couldn’t cover earlier in the week to help get you ready for the one ahead. Mainstreet hits another snag A week after […]
The distressed skilled nursing industry appears to need fresh approaches to operations and real estate, but bringing new types of properties to market is far from easy. Mainstreet, one of the largest developers of post-acute facilities in the nation, is the latest example, as the company is scaling back the rollout of its new Rapid […]
Ten seconds. That’s how quickly some consumers make up their minds about a skilled nursing facility. They make that decision upon entry, as they look at the lobby, the seating, the art on the walls. It’s the reason some skilled nursing design experts believe that SNF operators must pay more attention than they already do […]
Mainstreet Health Investments (TSX: HLP.U) on Friday announced a $425 million acquisition of Care Investment Trust, LLC, giving the Toronto-based real estate investment firm 42 new senior housing and skilled nursing properties. Care Investment Trust had previously been a subsidiary of Tiptree, Inc. (Nasdaq: TIPT), which will become Mainstreet’s largest shareholder upon completion of the […]
Construction: Planned Tennessee SNF Set to Grow Overton County Health and Rehab, a skilled nursing facility in Livingston, Tennessee, is planning to expand. If all goes according to plan, the expansion would take place this fall, reports the Livingston Enterprise, a local news publication. Planned Mainstreet SNF Moves Forward in Indiana Local officials recently gave their […]
It’s no secret that the skilled nursing industry has been on the rocks in recent years. Large operators have sold off their SNF offerings, while mom-and-pop facilities struggle to stay afloat. Still, SNFs offer a vital service that is not largely found elsewhere — long-term and post-acute care, particularly for those that rely on Medicaid […]
Symphony Post Acute Network has helped redefine the skilled nursing, transitional care business—so much so, some other providers in Symphony’s markets are banding together to stay competitive. But what exactly does Symphony’s model involve? It’s a mixture of elements that together create a “super SNF,” Symphony President Tim Fields said Tuesday at the Post Acute […]
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