Earlier this month, Thrive Senior Living opened the senior living operator’s 40th community since its inception — and its most unique. The community, Thrive at Montvale, spans about 215,000 square feet and contains 203 rental units on a site in Montvale, New Jersey. While the community is arriving with a slate of luxury-focused amenities, its […]
Category: Assisted Living
The lines between senior living care levels have blurred in recent years as residents arrive at communities with more care needs, and as operators get more skilled in caring for them. For example, it’s a common refrain in the industry that today’s independent living residents are yesterday’s assisted living residents; and today’s assisted living residents […]
Despite senior housing net operating income approaching pre-Covid levels in the second quarter of 2022, Welltower (NYSE: WELL) CEO Shankh Mitra sees those results as “mediocre at best.” But that is not because he believes the company’s senior housing partners did especially poorly during the quarter. Instead, he sees a much longer runway for unlocking […]
With National Healthcare Investors’ (NYSE: NHI) year-long effort to optimize its portfolio nearly complete, the company is once again renewing its focus on growth in the future. The Murfreesboro, Tennessee-based real estate investment trust (REIT) made more progress pruning its portfolio in the second quarter of 2022 and bringing new operators into the fold, and […]
Three years ago, Sonida Senior Living (NYSE: SNDA) leader Kim Lody laid out a turnaround plan to help position the company for long-term success. With those efforts largely in the rearview mirror, she is passing the torch. Lody on Thursday announced she is stepping down from her post as CEO, with current COO Brandon Ribar […]
Financial distress among hotels during the pandemic and persistent barriers to new development have created opportunities for senior living conversion projects. Though hotel reuse projects are typically one-off opportunities, there are companies looking to acquire and repurpose hotels as part of their growth strategies. Two in particular, Lloyd Jones and Solvida Development Group, have made […]
Welltower (NYSE: WELL) is transitioning a 12-property senior living portfolio to operating partners Oakmont Senior Living, Kisco Senior Living and Cogir Management USA. The portfolio spans 2,000 assisted living units in the Los Angeles, San Francisco and Seattle metro areas, and includes more than half of the communities Welltower purchased from Vintage Senior Living for […]
Average senior living occupancy grew 90 basis points to 81.4% in the second quarter of 2022, representing the fourth consecutive quarter for census growth in the industry. That’s according to new quarterly occupancy data from NIC MAP Vision. The data — released Thursday — shows that although the industry has not fully recovered from its […]
Acquisitions Lloyd Jones Acquires Historic Connecticut Community Lloyd Jones announced it has acquired Hamilton Heights, marking the company’s fourth senior housing purchase since February. The community will operate under Lloyd Jones’ Aviva brand under the banner of AVIVA West Hartford Hamilton Heights — a 113-unit senior living community in West Hartford Connecticut — was formerly […]
Average annual rates for assisted living residents surpassed $51,000 per year in 2021, with New Jersey ranking as the most expensive state for those services. That’s according to Lincoln Financial’s (NYSE: LNC) annual What Care Costs study. The survey, released earlier this year, shows that the cost of senior care services are steadily rising. On […]
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