Senior housing transactions may have reached a fever pitch toward the end of last year as sellers tried to beat the capital gains tax increase, but more acquisitions are continuing to close in 2013 and industry executives say still more opportunities are in the pipeline. “The deal pipeline is quite robust,” said Jay Flaherty, chairman and […]
HCP Inc.
For senior care providers, gearing up for “March Madness” this year probably doesn’t mean filling out an NCAA tournament bracket—it means scrambling for ways to mitigate a new round of reductions to Medicare reimbursement rates currently en route to the industry. Barring Congressional action, skilled nursing and rehabilitation providers are in for a 2% sequestration-induced […]
HCP Inc. (NYSE:HCP) saw its profits more than triple to $239.9 million, or $0.53 per share, for the fourth quarter ended Dec. 31, 2012 compared to the previous year, when net income was affected by a $125 million legal settlement. Net income applicable to common shares for all of 2012 totaled $812.3 million, up nearly […]
Demographics, real estate consolidation, and at what types of senior living communities people are receiving care are dominant trends being buzzed about in the healthcare REIT sector in the year ahead. A video on REIT.com features interviews with a few CEOs of well-known industry REITs and what their focus will be on in 2013. Ventas […]
Despite chatter about development, many senior living industry giants seem to be focusing more on repositioning, renovating, and rebranding their communities than on building new ones. Brookdale Senior Living spent $7.9 million of net cash in the third quarter as part of its multi-million Program Max initiative to expand, redevelop, and reposition many of its […]
Healthcare Loan Volume Up 19% in Q3 Although commercial and multifamily mortgage origination volumes were down 7% in the third quarter of 2012 compared to the same period one year ago, the healthcare property loan volume grew 19%, according to the Mortgage Bankers Association’s Quarterly Survey. However, compared to the second quarter, healthcare property loans […]
Despite a huge year for REIT deals in the senior housing space, REITs may be gearing up for even more growth, according to REIT publication REIT.com. Based on input from panelists are this year’s REITWorld annual convention, REIT.com reports that these trusts are still in the “sweet spot” for health care mergers and acquisitions. The […]
Last week, Emeritus Corporation (NYSE:ESC) agreed to purchase Nurse on Call, Inc., the largest Medicare-licensed home healthcare provider in Florida. Emeritus, the nation’s largest assisted living and memory care provider, will pay $102 million in cash for 91% of Nurse on Call’s parent company. The remaining equity will be owned by certain members of Nurse […]
Each quarter, senior living companies and the entities that invest in them release earnings reports and hold calls with analysts. At the end of each earnings call, executives will generally field questions from analysts to provide further insight or color into portfolio performance or acquisition strategy. Here are a collection of “snippets” from calls held […]
HCP Inc.’s (NYSE:HCP) $1.73 billion acquisition of the Blackstone-Emeritus joint venture was the pitch the largest healthcare REIT was waiting for—”a fastball, right down the middle of the plate,” according to chairman and CEO Jay Flaherty on the third quarter earnings call. During a first quarter earnings call, an analyst had mentioned HCP’s “relatively low […]