A non-profit health system and a major real estate investment trust (REIT) are reportedly teaming up to buy Quality Care Properties (NYSE: QCP) for $2 billion. The ProMedica hospital system and Welltower, Inc. (NYSE: WELL) have already made that offer, according to sources that spoke to the Reuters news service — which would value QCP at about […]
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 […]
Welltower Subsidiary Pays $130M for South Florida Senior Living Facility Welltower Jefferson Propco TRS, a subsidiary of the Toledo, Ohio-based Welltower (NYSE: WELL), purchased the 527-bed senior living complex Stratford Court near Boca Raton, Fla., for $130 million, or $246,679 per unit. The site spans 447,948 square feet and includes independent living, assisted living, skilled nursing, and memory care. […]
The distressed skilled nursing industry appears to need fresh approaches to operations and real estate, but bringing new types of properties to market is far from easy. Mainstreet, one of the largest developers of post-acute facilities in the nation, is the latest example, as the company is scaling back the rollout of its new Rapid […]
The skilled nursing industry will emerge from its current period of duress and be reinvented in the coming years, according to Tom DeRosa, CEO of real estate investment trust (REIT) Welltower Inc. (NYSE: WELL). This belief is one reason why Toledo, Ohio-based Welltower is maintaining a foothold in skilled nursing, with about 10% of the […]
Welltower Inc. (NYSE: HCN) is upbeat about one of its most troubled tenants, even though the road ahead looks bumpy. CEO Tom DeRosa spent a good portion of Thursday’s fourth-quarter earnings call talking up one of the real estate investment trust’s (REIT) largest post-acute operating partners, Kennett Square, Pa.-based Genesis HealthCare (NYSE: GEN). Welltower’s wholly-owned Genesis portfolio […]
You’ve made it to the end of the week before a long holiday weekend, but before you go, take a look at some of the top stories from the nursing home world that didn’t make it to Skilled Nursing News. But first, a quick reminder that SNN’s headquarters in Chicago will be closed on Monday, […]
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 […]
A deal is being hammered out between skilled nursing giant Genesis HealthCare (NYSE: GEN) and its landlord Welltower Inc. (NYSE: HCN), which is meant to improve Genesis’ capital structure. Welltower, a Toledo, Ohio-based real estate investment trust (REIT), announced the likely transaction in conjunction with releasing its third-quarter 2017 earnings results Tuesday, though details were […]
Several publicly traded real estate investment trusts (REITs) have backed off skilled nursing in recent months and years, but one major player recently made an eye-popping investment in the asset class. The largest health care REITs — Ventas (NYSE: VTR), Welltower (NYSE: HCN), and HCP (NYSE: HCP) — all have either spun off the majority […]
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