ProMedica Senior Care is on a better path more than a year after Welltower (NYSE: WELL) bolstered its joint venture with the senior housing and care operator — but agency labor remains a challenge. The Toledo, Ohio-based health system this year has reported significant losses in its senior care division — which includes skilled nursing […]
Welltower
Real estate investment trusts (REITs) owned about 12% of all skilled nursing assets as of 2021, equating to about 1,870 facilities. That’s according to a research letter published in JAMA Health. Researchers also examined REIT ownership trends of hospitals and other health care properties. The data comes at a time when the Biden administration and […]
Welltower Inc. (NYSE: WELL) continues to shrink its long-term care portfolio, selling seven Genesis HealthCare properties in the first quarter of this year. Overall, the senior care segment represented just 4.8% of Welltower’s total NOI in place at the end of 2021 — versus 10.1% at the end of 2020. The 530 basis point decline […]
Leaders with National Health Investors Inc. (NYSE: NHI) said the company’s skilled nursing assets continue to be resilient in the face of financial challenges, including the proposed 4.6% cut to the Patient-Driven Payment Model (PDPM). While executives with the real estate investment trust (REIT) hope the Centers for Medicare & Medicaid Services (CMS) final rule is […]
While federal protections like the Public Readiness and Emergency Preparedness (PREP) Act provide at least a partial legal shield to nursing homes, an influx of Covid-related lawsuits could be coming down the pipeline. Litigators are looking to test nursing homes’ legal protections as lawsuit filing deadlines for the first few months of the pandemic arrive, […]
Welltower Inc. (NYSE: WELL) made a nearly $5 billion cash offer for Healthcare Realty Trust Inc. (NYSE: HR) that was ultimately rejected, the Wall Street Journal reported this week. Despite the initial deal not working out in Welltower’s favor, the Toledo, Ohio-based real estate investment trust (REIT) remains interested in a potential acquisition, the WSJ […]
While the calls for nursing home ownership reform tied to private equity (PE) have grown louder from the current administration and other federal figureheads, industry leaders say such endeavors are old hat — investors are already leaving the SNF sector in favor of home health and private-pay senior housing. That’s according to an article published […]
As the White House blasts the role private equity and real estate investment trusts (REITs) play in the nursing home space, some industry insiders believe that the administration is confused about how ownership actually works and where problems truly lie. David Reis, CEO of Senior Care Development, described “three players at the table,” and said […]
Genesis HealthCare obtained a $395 million senior credit facility from White Oak Healthcare Finance this week, marking “an important step” in the operator’s restructuring. White Oak acted as the sole lender and administrative agent in the deal. “This loan is an important step in the restructuring of Genesis as a leader in high-quality health care […]
With the goal of improving the real estate investment trust’s ability to buy properties in tax-deferred structures, Welltower (NYSE: WELL) is undergoing a reorganization. The Toledo, Ohio-based REIT will become an umbrella partnership real estate investment trust (UPREIT), which involves forming a publicly traded parent company that will adopt the Welltower name. The existing REIT […]
While other ProMedica divisions have seen near pre-pandemic recovery, its senior care division patient volumes – which includes skilled nursing assets – are needing more time to recover. A combination of Covid-related admission volume declines, elevated expense levels and reduced government stimulus funds all played a role in stymied recovery last year, the Toledo, Ohio-based […]
As the nursing home industry tried to digest a sweeping set of industry reforms proposed by the Biden administration on Monday, a Capitol Hill lawmaker got in on the action by proposing a bill to force private equity firms to disclose their ownership in facilities. Amid all these developments, one thing has become evident: the […]
Skilled nursing assets have performed well for National Health Investors (NYSE: NHI), providing stability while the real estate investment trust (REIT) works to switch out underperforming seniors housing assets, according to leadership. SNFs and continuing care retirement communities (CCRCs) currently account for nearly two-thirds of the REIT’s cash revenue, CEO Eric Mendelsohn said during Wednesday’s […]
Despite some encouraging top-line trends, expenses increased 8.8% year-over-year for Welltower (NYSE: WELL) leading to “subpar bottom line” results to end 2021. Still, the real estate investment trust is hopeful that once the omicron variant fades, spending will normalize. Staffing costs, in particular, hit Welltower hard in Q4 2021. “I am pretty disappointed about the […]
Welltower (NYSE: WELL) is planning for more U.K. growth amid a historic period of investment activity for the real estate investment trust. Reuben Brothers, a real estate company based in the United Kingdom is investing in an ownership stake in U.K. operator Avery Healthcare, one of Welltower’s largest operating partners. The terms of the deal […]
Financial government support accompanying ongoing public health emergencies (PHEs) is considered a major factor in transaction activity, since so many facilities currently depend on such funding. What remains unclear is where that government support ship is headed as the industry continues into 2022. For operators, uncertain government funding could mean a continued rush of transactions […]
The skilled nursing market was anything but quiet in 2021 and some of the top lenders in the space expect that activity to continue despite persisting staffing challenges that operators now face. “We’re definitely seeing more bridge lending, especially if the owner-operator is proven. As far as new construction, we are seeing an uptick in […]
This year was another rollercoaster for the skilled nursing industry as operators – and truthfully the nation alike – went from the tail end of another covid surge, to the widespread availability of vaccines, then considerable optimism and a possible light at the end of the tunnel, back to another COVID-19 surge and as I’m […]
Several recurring topics crept up while chronicling Skilled Nursing News’ most-read stories of the year – occupancy, staffing, acquisitions and the industry’s place in value-based care – among others. Of course, the COVID-19 vaccine rollout and subsequent mandate were top-of-mind the entire year as well. The Biden administration sought to boost lagging staff vaccine rates […]
After skilled nursing occupancy recovery declined in September for the first time in seven months, some analysts are concerned that consistent staffing shortages will impact the real estate investment trusts who are landlords to operators nationwide, at least in the near-term, according to a Dec. 8 note from BMO Capital Markets. National data collected from […]
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