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 […]

Inside Sabra’s ‘Unusual’ $430 Million Skilled Nursing Buy

Sabra Healthcare REIT, Inc. (Nasdaq: SBRA) last week made its first major skilled-nursing deal since merging with Care Capital Properties, buying the real estate associated with 24 SNFs for a total of $430 million: $378 million for the 21 properties that have already closed, and $52 million for three more set to close by the end […]

Sabra to Buy 24 SNFs for $430M, Sell Whole Genesis Portfolio

Sabra Health Care REIT (Nasdaq: SBRA) on Monday announced a pair of major moves, revealing a plan to buy 24 skilled nursing and transitional care units on the West Coast — and taking concrete steps to sell off its remaining 43 properties operated by Genesis HealthCare (NYSE: GEN) by the end of next year. The […]

Skilled Nursing Must-Reads: Occupancy Drops, SNF’s Fraud Drama

The industry continues to sort out what went wrong in Florida, but there were other headlines from the week in skilled nursing, including some grim numbers from the National Investment Center for Seniors Housing & Care (NIC) and an interesting ownership shuffle for some former Kindred facilities. First, the bad news: Nursing home occupancy dipped […]

Sabra’s Assisted Living Play Answers Questions About Post-Merger Future, CEO Says

Sabra Health Care REIT’s (Nasdaq: SBRA) definitive agreement to purchase a 49% equity interest in a joint venture that owns 183 senior housing communities clarifies exactly how Sabra plans to grow, according to company CEO Rick Matros. “Everybody was freaking out,” Matros explained to Skilled Nursing News, referencing certain investors’ reactions to Sabra’s recently approved merger with skilled nursing REIT Care […]

Skilled Nursing REIT Sabra Makes $371M Senior Housing Play

Sabra Health Care REIT (Nasdaq: SBRA) took a major step toward reducing its skilled nursing concentration on Tuesday, announcing the acquisition of a minority stake in a $1.6 billion assisted living portfolio. Sabra’s 49% stake in the deal, which includes 183 senior housing communities operated by the Chicago-based Enlivant, works out to about $371 million. […]

Despite Signature Troubles, Sabra Sees Bright Post-Merger Future

Fresh off the approval of its blockbuster merger with Care Capital Properties, Sabra Healthcare REIT, Inc. (Nasdaq: SBRA) on Friday trumpeted the better-than-estimated value of the deal — and predicted an orderly solution to one of its continuing problems. The company had been conservative in its pre-merger projections, CEO Rick Matros said on a conference […]