Senior Care Centers Drags Down Sabra’s Q1, But Optimism Remains — With Addiction as Next Frontier

A sizable real estate impairment charge related to the bankrupt Senior Care Centers contributed to a $77.7 million first-quarter loss for Sabra Health Care REIT (Nasdaq: SBRA), but executives remain upbeat that the changes coming to skilled nursing this fall will boost fortunes industry-wide. The real estate investment trust (REIT) took a $103 million impairment […]

Sabra’s ‘Genesis Exodus’ Nears Completion with $75.7M Sale of 13 SNFs

Sabra Health Care REIT (Nasdaq: SBRA) on Wednesday announced the sale of 13 more skilled nursing facilities operated by Genesis Healthcare (NYSE: GEN), leaving just three more to sell before the real estate investment trust (REIT) completes its long-planned divestiture of Genesis assets. Four of the Genesis-leased facilities sold last week for $38.6 million, with […]

OIG: 46% of Medicare Patients in LTACs Experience Harm

Almost half of Medicare patients experience either adverse events or temporary harm events inside the walls of a long-term care hospital (LTCH) according to a November report from the Department of Health and Human Services (HHS). The Office of Inspector General (OIG) found that 21% of Medicare patients in LTCHs — also known as long-term […]

Sabra Inks Deal to Sell 38 Senior Care Centers Buildings for $385 Million

Sabra Health Care REIT (Nasdaq: SBRA) on Thursday announced a $385 million deal to sell all 38 buildings in its portfolio operated by troubled skilled nursing provider Senior Care Centers. The deal — which the Irvine, Calif. based real estate investment trust (REIT) had previously announced earlier this year — is expected to close early […]

Sabra CEO: Senior Care Centers Stopped Paying Rent for Leverage Amid Sale

Sabra Health Care REIT (Nasdaq: SBRA) dropped the news late Monday that its largest operator, Senior Care Centers, had stopped paying rent — and on Tuesday, its CEO framed the issue as an attempt to force the company’s hand amid a pending sale. The Irvine, Calif.-based real estate investment trust (REIT) had already entered into […]

Sabra Terminates Leases on 36 Senior Care Centers SNFs, Sale Pending

Sabra Health Care REIT, Inc. (Nasdaq: SBRA) announced on Monday that its portfolio of Senior Care Centers buildings hasn’t generated straight-line rents since May, resulting in a $1.9 million shortfall in the company’s third-quarter income. The Irvine, Calif.-based real estate investment trust (REIT) issued notices of default and lease termination during the third quarter, the […]

Sabra, LTC: Skilled Nursing Market Has Hit ‘Trough,’ Slow Occupancy Growth Ahead

Multiple players across the skilled nursing industry have offered predictions as to when slumping occupancy figures will bottom out, and two prominent voices earlier this month declared that the bottom may be upon us. “I think we’re probably at around the trough,” Sabra Health Care REIT (Nasdaq: SBRA) chief investment officer Talya Nevo-Hacohen said during […]

Has the Skilled Nursing Industry Finally Hit Bottom?

As summer ends, it’s tempting to start looking ahead to what 2019 will hold for the skilled nursing industry. While the widely praised new payment model will likely grab the most attention, next year could also signal an upward climb out of an industry valley, or more troubled times ahead — depending on who you […]

Sabra Takes Proactive Approach to Skilled Nursing Data with PointRight Partnership

Sabra Health Care REIT (Nasdaq: SBRA) last week announced a strategic partnership with health care data analytics firm PointRight, in a move the companies are describing as a more proactive approach to monitoring individual skilled nursing facility performance. Under the agreement, tenants of Sabra-owned nursing homes will be able to use PointRight’s data software for […]

Sabra Sells 12 Genesis Facilities, 8 Former CCP Buildings for $174M

Sabra Health Care REIT (Nasdaq: SBRA) on Monday announced the sale of 20 total buildings as its so-called “Genesis Exodus” nears completion. The Irvine, Calif.-based real estate investment trust (REIT) closed on the sale of 12 more properties operated by Genesis Healthcare (NYSE: GEN) last Friday, with a total price tag of $134 million. That […]

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 […]

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 […]

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 […]

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 […]

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 […]