Omega Inks New Deal with Signature, Sees Hot Local M&A Market

One day after Sabra Health Care REIT (Nasdaq: SBRA) announced a major restructuring deal with skilled nursing provider Signature HealthCARE, fellow real estate investment trust (REIT) Omega Healthcare Investors (NYSE: OHI) followed with an agreement of its own. The Louisville, Ky.-based Signature had fallen about $25 million behind on its rent payments to Omega by […]

Sabra Restructures Leases with Signature, Extends $12M Loan

After hinting at a possible solution earlier this year, Sabra Health Care REIT (Nasdaq: SBRA) has reached a deal to restructure its lease agreements with troubled tenant Signature HealthCARE. Signature on Monday entered into an 11-year lease with the Irvine, Calif.-based real estate investment trust (REIT), with options for three five-year extensions. Sabra will collect […]

Genesis to Exit Texas, Divest 24 Skilled Nursing Facilities

Post-acute giant Genesis Healthcare, Inc. (NYSE: GEN) will completely exit the skilled nursing space in Texas, selling 23 facilities and transferring operations of a 24th by the middle of this year. The Kennett Square, Pa.-based operator announced the deal late Wednesday night, with the buyer identified as Regency REIT, LLC. That New York City-based real […]

New Therapy Payments a ‘Game Changer’ for Skilled Nursing Industry

Changes to the way Medicare reimburses providers of therapy services will change the game for skilled nursing operators, at least according to one industry analyst. The Resident Classification System, Version I (RCS-I) will replace the current fee-for-service Medicare therapy structure with a model that more closely tracks with larger trends toward value-based services, rewarding providers […]

Bank of America Upgrades Sabra Outlook Amid Senior Housing Push

By at least one analyst’s assessment, Sabra Health Care REIT’s (Nasdaq: SBRA) decision to diversify away from skilled nursing facilities has boosted its fortunes. Bank of America Merrill Lynch upgraded the real estate investment trust’s (REIT) stock from “underperform” to “neutral,” with research analyst Juan C. Sanabria pointing to Sabra’s ongoing divestment from properties operated […]

Genesis Posts $89M Loss in Fourth Quarter, Pledges Sunnier 2018

Genesis HealthCare, Inc. (NYSE: GEN) lost $89.2 million in the final quarter of 2017 and $579.0 million over the course of last year — numbers that the company continues to blame on the overall skilled nursing landscape. “As health care reform continues to transform the delivery of health care by changing reimbursements and holding providers […]

CareTrust: Micro-Level Skilled Nursing Gains Outweigh Macro Pains

CareTrust REIT (NASDAQ: CTRE) has made moves to divest from a troubled operator, but management still remained upbeat about the potential for skilled nursing success in the year to come. After a positive experience transitioning seven of its 16 properties operated by Pristine Senior Living and Post-Acute Care in Ohio, CareTrust will market the remaining […]

Sabra CEO: Signature Deal Likely, Genesis Model ‘Does Not Work’

The CEO of Sabra Health Care REIT (Nasdaq: SBRA) on Thursday indicated that a deal to restructure Signature HealthCARE could soon be in the cards. “We have an agreement with the other primary landlords on Signature,” Sabra CEO Rick Matros said on his company’s fourth-quarter earnings call with shareholders and analysts — though he added […]

Skilled Nursing Transactions: Blueprint, Sabra, CareTrust

Blueprint Announces Involvement in 20-SNF Portfolio Sale Blueprint Healthcare Real Estate Advisors announced the portfolio sale of 20 skilled nursing facilities, with 1,866 total licensed beds, for $103.3 million. A dozen facilities were located in Kentucky, seven were in Ohio, and one was located in Indiana. The Chicago-based advisory firm said it served as the […]

Sabra Completes Sale of 20 Genesis SNFs for $103M

Sabra Health Care REIT, Inc. (Nasdaq: SBRA) kicked off the new year by announcing the sale of 20 skilled nursing facilities operated by Genesis Healthcare, Inc. (NYSE: GEN). The deal, which netted Sabra $103.3 million, covers facilities across Kentucky, Ohio, and Indiana, the Irvine, Calif.-based real estate investment trust (REIT) announced. The buyers were not […]

Sabra CEO Matros Talks Leadership, Skilled Nursing and Tattoos

Sabra Health Care REIT (Nasdaq: SBRA) turned in a busy 2017, completing a major merger with Care Capital Properties, snapping up an additional 24 SNFs, and announcing a long-term plan to completely dump its troubled Genesis assets (NYSE: GEN). At the helm through the process has been Rick Matros, known for his outspoken takes on the […]

Top 10 Skilled Nursing Stories of 2017

The skilled nursing industry faces an existential crisis over its future, and 2017 was a year filled with threats — financial and regulatory woes at top providers, plummeting occupancy, and continued reimbursement pressures. But it was also a year that saw promising research illustrating the utility of SNF care and successes in new payment models, […]

SNFs Could Emerge as ‘Net Losers’ Under GOP Tax Plan

Senate Republicans passed their version of comprehensive tax reform in the early hours of Saturday morning, and while lawmakers in both houses still need to weigh in on a compromise bill, fears about the legislation’s impact are coursing through the long-term care industry. Skilled nursing operators could be the “net losers” under the GOP-led tax […]

Skilled Nursing Must-Reads: Industry Pressures, 33-SNF Bankruptcy

Welcome to Skilled Nursing News’s regular look at the biggest headlines from the week that was, your all-in-one place for the top stories you need to jumpstart your day and discover the things you may have missed. SNN brought you a peek into PointClickCare’s annual customer summit in Orlando, where executives declared that skilled nursing […]

SNF Deals Strong in Third Quarter Amid Big Public-Buyer Appetite

Skilled nursing mergers and acquisitions (M&A) activity contributed to an overall strong third quarter, as as nursing care accounted for $3.5 billion of the total $5.0 billion in transactions volume for the quarter, according to a report by the National Investment Center for Seniors Housing and Care (NIC). Seniors housing accounted for the remainder ($1.5 […]

Skilled Nursing Must-Reads: ManorCare’s Win, Genesis’s Reinvention

Earnings season has brought a flurry of news from publicly traded skilled nursing operators and landlords, so in case you missed them the first time around, here’s a quick glance at the biggest stories in the SNF world from the past week — including a major structural shakeup at a leading provider. After a judge […]

Genesis Plans Major Restructuring, Blames Historic SNF ‘Down Cycle’

Citing a declining census, rising nurse wages, and decreasing reimbursements, Genesis Healthcare (NYSE: GEN) this week announced a major restructuring of its leases with top landlords. The Kennett Square, Pennsylvania-based skilled nursing and post-acute care provider said it reached non-binding agreements with real estate investment trusts (REITs) Welltower, Inc. (NYSE: HCN) and Sabra Health Care […]

Sabra Touts $1 Billion Pipeline, ‘Flawless’ CCP Integration

It’s been a busy past few months for Sabra Health Care REIT (Nasdaq: SBRA), to say the least. In August, company shareholders approved its merger with Care Capital Properties (NYSE: CCP). Then, in early September, the Irvine, California-based real estate investment trust (REIT) announced it was purchasing the real estate associated with 24 skilled nursing facilities for […]

Why SNF Investment Risk Exists in the Eye of the Beholder

Among large swaths of the real estate investment community, reducing exposure to skilled nursing assets is considered a smart play at the moment. Given the uncertain regulatory landscape and shifting payment models, betting on SNFs may just not seem worth it. But several players in the SNF investment market believe that the asset class isn’t necessarily […]