Fitch: Skilled Nursing REITs Can Withstand COVID-19 Crisis — To a Point

Most of the real estate investment trusts (REITs) with holdings in skilled nursing and senior housing facilities can weather the financial strains caused by COVID-19, a major credit rating agency affirmed this week — but only if current trends hold. Various REITs have responded to the pressures of the coronavirus pandemic by taking steps to […]

REIT Stocks Fall Again After Reports of New Nursing Home Coronavirus Case

Another skilled nursing facility in the state of Washington has reported an outbreak of COVID-19, the disease caused by the novel coronavirus that is sweeping the globe — resulting in major declines in the stock prices of several real estate investment trusts (REITs) with holdings in the skilled nursing and senior housing sectors. That facility, […]

Omega to Divest Struggling Daybreak Skilled Nursing Portfolio, Cautiously Upbeat on Medicaid Crackdown

After multiple quarters of struggles with operator Daybreak Venture, Omega Healthcare Investors (NYSE: OHI) on Thursday announced a plan to largely purge the provider’s buildings from its portfolio. “During the course of the next several quarters, Omega anticipates transitioning, either through re-leases or sales, the vast majority of Daybreak’s existing Omega facilities,” chief operating officer […]

Why Signature Believes 18 Months of PDPM Prep Will Pay Off

The first round of earnings calls these past two weeks revealed few firm outcomes related to the new Medicare payment model for nursing homes, but one provider was identified as potentially ahead of the curve: Signature HealthCARE. Omega Healthcare Investors (NYSE: OHI) chief investment officer Robert Stephenson on Wednesday praised Signature, one of its tenants, […]

Omega Looks to Cut Daybreak Skilled Nursing Exposure After Performance ‘Deteriorated Further’

Despite showing long-term optimism about Daybreak Venture, executives at Omega Healthcare Investors (NYSE: OHI) on Wednesday revealed an ongoing plan to replace the struggling skilled nursing operator at many of its facilities in Texas. The two parties have mutually agreed to work toward a deal that would “selectively downsize” Daybreak’s footprint across the Lone Star […]

Omega Closes $735M Skilled Nursing Deal, Confirms Consulate as Primary Operator

Omega Healthcare Investors (NYSE: OHI) on Tuesday announced the formal completion of a $735 million deal to acquire 58 skilled nursing facilities — with Consulate Health Care confirmed the primary operator involved in the transaction. First announced back in August, the deal closed on October 31, and saw the real estate investment trust (REIT) acquire […]

AVIV, Omega Vets Team Up on New Skilled Nursing Investment Firm

A group of long-term care veterans led by former AVIV REIT chairman Craig Bernfield are launching a new private company to acquire, develop, and lease skilled nursing facilities and assisted living properties. Hana2.0 Property Group will initially focus on those two property types equally, co-president Jeff Marshall told Skilled Nursing News Tuesday. The company will […]

Omega CEO Pickett: Medicaid-Focused Model Can Work in Skilled Nursing

With capital chasing upside and new development dominated by high-end “medical resorts,” the availability of long-term care beds has emerged as a big-picture issue for the skilled nursing industry. While it may not be a nationwide problem just yet, certain markets — from Wisconsin to California — have begun to show the early signs of […]

Meridian’s $241M Portfolio Deal in the Northeast; Optalis Healthcare Adds Five SNFs in Michigan

Meridian Capital Group this week announced its involvement in a 19-building skilled nursing portfolio deal that saw the New York City-based finance and investment firm provide $241 million in acquisition financing. The portfolio has a total of 2,175 beds, with locations in Massachusetts, New Hampshire, Pennsylvania, Delaware, Maryland, and West Virginia. Meridian’s managing directors, Ari […]

Diversicare Completes Kentucky Exit with 10-Building Transfer

Diversicare Healthcare Services (OTCQX: DVCR) this week announced the successful completion of a 10-building transfer that saw the skilled nursing operator exit the Kentucky market entirely. The handoff was completed on August 30, according to a release from the Brentwood, Tenn.-based provider. Diversicare had previously announced its intention to leave the Bluegrass State back in […]

Omega Offers Details on $735M Skilled Nursing Pickup, Ongoing Daybreak Woes

Omega Healthcare Investors (NYSE: OHI) made a major splash this week with the announcement of a planned $735 million skilled nursing acquisition, though executives also reported that a troubled tenant in Texas hasn’t generated any revenue for the real estate investment trust (REIT) yet this quarter. Daybreak Venture met its rent obligations under a deferral […]

Omega to Buy 58 Skilled Nursing Facilities in $735 Million Deal

Omega Healthcare Investors (NYSE: OHI) on Tuesday announced plans to pick up 58 skilled nursing facilities in a 60-building deal valued at $735 million. The Hunt Valley, Md.-based real estate investment trust (REIT) agreed to the deal on July 26, Omega reported this week, though it remains subject to approval by the Department of Housing […]

PDPM Countdown: ‘We Are All Crossing Our Fingers and Knocking on Wood’

With the Medicare Part A reimbursement overhaul taking effect in just a few months, skilled nursing providers across the country are in countdown mode. But the clock is moving at different paces for different providers, several experts said. Some SNFs began their analysis and preparations months ago; others are barely getting started. That’s led to […]

Diversicare to Exit Kentucky, Hand Over Control of 10 Skilled Nursing Facilities

Diversicare Healthcare Services (Nasdaq: DVCR) on Wednesday announced a plan to exit the Kentucky market, ceding control of the 10 skilled nursing facilities it operates in the state. The Brentwood, Tenn.-based Diversicare reached an agreement with landlord Omega Healthcare Investors (NYSE: OHI) to terminate operations at the 10-building portfolio, which consists of around 885 skilled […]

MedEquities Shareholders Approve $600M Omega Merger

Shareholders of MedEquities Realty Trust (NYSE: MRT) on Wednesday overwhelmingly approved a plan to merge with fellow real estate investment trust (REIT) Omega Healthcare Investors (NYSE: OHI). Around 99.9% of the votes cast — representing 79.5% of all outstanding shares as of March 4 — were in favor of the $600 million deal, first announced […]