A U.S. District Court judge has granted an injunction to stop the Department of Labor’s (DOL) overtime rule, which was set to go into effect Dec. 1. The judgment pauses a rule that would have impacted 4.2 million American workers by guaranteeing overtime pay to salaried workers making $47,476 per year ($913/week) or less. If the […]
Brookdale Senior Living (NYSE: BKD) will pay $979,000 in a settlement with the federal government and states, to resolve allegations that Emeritus Corp. failed to return Medicaid overpayments. Emeritus was acquired by Brentwood, Tennessee-based Brookdale in 2014, creating the largest senior housing provider in the nation, with more than 1,100 communities. No wrongdoing is admitted under […]
After a tumultuous year for some of the biggest real estate owners and operators in skilled nursing, many are looking at the future of the space with one foot out the door. Punishing skilled nursing headwinds are creating a “deteriorating industry,” with few attractive prospects for the largest companies for at least five years, according […]
As temperatures began to plunge in Chicago, we were sure to bring our readers the hottest industry happenings, including the news that a major senior housing real estate owner has named a new CEO and president. Ventas Inc. also made a splash by announcing it would sell 36 Kindred-leased skilled nursing facilities for $700 million […]
With strong tailwinds buoyed by promising demographics, the U.S. senior housing industry has become very attractive not only to the traditional buyers of health care real estate, but also increasingly to private equity and overseas investors. As health care real estate investment trusts continue to make strategic dispositions and refocus their portfolios, foreign capital is seizing acquisition […]
A Place for Mom Expands Network with OurParents Brand The nation’s largest senior living referral service A Place for Mom has added the OurParents brand to its portfolio of services. The partnership will extend the reach of A Place for Mom’s services, which traditionally have focused on major metropolitan markets. OurParents specializes in helping families […]
As competition heats up within the senior housing industry, some companies are doing their best to cool down one common practice—discounting their prices. Discounting rents or offering similar financial incentives has become commonplace to persuade prospective residents into moving into a senior living community. The practice was particularly prevalent in the years immediately following the […]
Senior Quality Lifestyles Corporation (SQLC) is in talks to purchase senior living management company Seniority from Cornerstone Affiliates, the parent company of be.group and ABHOW, among its family of senior living companies. The deal, a strategic disposition, comes several months following the major merger of be.group and ABHOW. Seniority manages seven communities in California and […]
NHI Acquires $74 Million CCRC in Connecticut Real estate investment trust (REIT) National Health Investors, Inc. (NYSE: NHI) acquired an entrance-fee continuing care returned community (CCRC) in North Branford, Connecticut, for $74 million. The CCRC will be leased to NHI’s current tenant, Senior Living Communities, based in Charlotte, North Carolina. The lease term is 13 […]
While in the middle of a gigantic merger to create a $17 billion real estate investment trust (REIT), a major senior living real estate owner is selling a $1 billion stake in its health care portfolio. New York-based NorthStar Realty Finance Corp. (NYSE: NRF) entered into a definitive agreement to sell a joint venture interest in […]
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