One of the 10 most-read stories on Senior Housing News last year was our coverage of the Cogir and Cadence merger, announced in November. In 2023, expect more deals of this type — and larger ones — to reshape the senior living operator landscape. In fact, Senior Housing News today broke the news of Solvere […]
Environmental, social and governance (ESG) investments are growing within the senior living sector, as we reported a month ago. But just as our article appeared, a KPMG survey of more than 1,300 CEOs was released, with a contradictory finding: Half of respondents are “pausing or reconsidering” planned ESG efforts within the next six months, and […]
Senior living operators and real estate investors — including industry giants such as Brookdale Senior Living (NYSE: BKD) — are increasingly prioritizing ESG projects with an understanding that the long-term benefits will make for healthier, more profitable companies. ESG stands for the environmental, social and governance portion of business planning and operations. With an increasing […]
Over the past two weeks, executives of publicly traded senior living companies shared quarterly earnings results. I was particularly struck by the words of Welltower (NYSE: WELL) CEO Shankh Mitra, who called the company’s second-quarter results “mediocre at best.” We’re used to CEOs taking pains to stress the positives in earnings, and there were positives […]
Acquisitions Sienna, Sabra Finalize Deal to Buy 11 Canadian Communities Sienna Senior Living (TSX: SIA) announced it has with Sabra Health Care REIT finalized the acquisition from Extendicare (TSX: EXE.TO) of a 50% ownership stake in a portfolio of 11 senior living communities located throughout the Canadian provinces of Ontario and Saskatchewan. The 11 communities […]
Sabra Health Care REIT’s (Nasdaq: SBRA) strategy for growth in 2022 is “simple,” according to CEO Rick Matros. The company plans to diversify its portfolio by paring down its skilled nursing exposure while growing in other product types, such as assisted living. “We’re focused on diversifying the portfolio with smaller deals in our existing asset […]
Financings MidCap Financial Closes Loan for South Carolina Community MidCap Financial announced that it has closed a $20.5 million floating-rate first mortgage loan with Valeo Groupe Americas. The loan facilitated the recapitalization of Vineyard Bluffton, a Class A senior housing community in Bluffton, South Carolina, with 96 assisted living and memory care units. Transactions Juniper […]
Earlier this month, Sabra Health Care REIT (Nasdaq: SBRA) and Sienna Senior Living (TSX: SIA) joined forces to acquire Extendicare’s senior living portfolio in Canada — and that arrangement could help springboard similar deals in the future, according to the company’s leaders. Under the deal announced in February, Sabra and Sienna agreed to acquire from […]
Sienna Senior Living (TSX: SIA) is growing in Canada thanks to a new strategic joint-venture agreement with Sabra Health Care REIT (Nasdaq: SBRA). Leaders with the Markham, Ontario-based operator announced Thursday an agreement to acquire from Extendicare (TSX: EXE.TO) a 50% ownership stake in a portfolio of 11 Esprit senior living communities located in Ontario […]
Invesque (TSE: IVQ.U) has taken further steps toward accomplishing its long-term portfolio plan of shifting toward private-pay senior living and away from skilled nursing. Approximately 35% of its current pro forma net operating income (NOI) comes from skilled nursing, executives with Invesque said Thursday on the company’s Q3 2021 earnings call. That’s a drop from […]
