It’s earnings season, and the message is clear—acquisitions and dispositions are back in a big way. This week, we clued our readers into Welltower’s massive new senior housing portfolio acquisition on the West Coast and Sabra’s plans to offload a serious chunk of skilled nursing change.
Here in the newsroom, we were keeping up with an assisted living community—for parrots. We are also gearing up to watch the Olympics in Rio de Janiero, Brazil, which opens Friday, August 5. Go USA!
[Update] Welltower to Acquire 19-Property West Coast Portfolio for $1.15 Billion—Welltower Inc. (NYSE: HCN) has agreed to purchase a portfolio of 19 senior housing properties on the West Coast for $1.15 billion, which will make the Toledo, Ohio-based real estate investment trust (REIT) the largest owner of senior housing in Northern and Southern California. The properties are currently operated by Vintage Senior Living. The announcement coincided with the release of the REIT’s 2nd quarter earnings.
What Sellers Can Expect for Mediocre Senior Housing Properties—Offloading senior housing properties is a vastly different experience for different types of sellers. Class A might be the most desirable, but what’s the Class B, C or D senior housing owner to do? What does “Class B” even mean?
[Update] Sabra Plans to Sell 29 Genesis Properties—Sabra Health Care REIT (Nasdaq: SBRA) is joining the ranks of REITs taking significant steps to limit their exposure to skilled nursing. Sabra and its major skilled nursing tenant, Genesis Healthcare Inc. (NYSE: GEN), have reached an agreement to market up to 29 leased buildings for sale, the REIT announced Aug. 1.
Around the Web
Worlds’s Longest Friendship Bracelet to be Measured in Ridgefield—Have you ever wanted to break a world record? Residents at Benchmark Senior Living at Ridgefield Crossings in Ridgefield, Connecticut, hosted a world-record chasing event to get its friendship bracelet officially measured to be submitted to the Guinness Book of World Records. The friendship bracelet measures 2,100 feet long and was constructed by more than 3,000 people across Benchmark’s communities.
For Your Viewing Pleasure
“So That Is Gone”—In another episode documenting Gerda Suanders’ progressive dementia, Sanders has her first evaluation in three years. She learned in 2010 that she had cerebral microvascular disease, a precursor to dementia, and Slate has been following her story since 2014.
80 Parrots to Welcome Guests to Maine Sanctuary Open House—About 50 exotic birds call Siesta Sanctuary, an assisted living place for retired parrots, home. For more than a decade, displaced birds have been living the dream in the sanctuary, located in Harmony, Maine.
Written by Amy Baxter