Here in Chicago, we continue to rejoice over the Cubs’ World Series victory (!) Wednesday night. But it’s also been quite an exciting week in the world of senior housing. HCP announced it will sell a Brookdale portfolio for over a billion dollars, Welltower is disposing of $4.1 billion in assets by year’s end … and Brookdale wasn’t flying the W in announcing a very rough third quarter.
Among the stories that caught our eye in the newsroom, wildlife was the theme of the week. There’s a retirement community in upstate New York that’s for the dogs, literally. Human seniors who can no longer care for their beloved pet may want to know about this option. And a frightening squirrel attack in a senior housing community in Florida grabbed headlines on Friday.
[UPDATED] HCP to Sell 64-Property Brookdale Portfolio for $1.125 Billion—HCP Inc. announced that it is unloading a 64-property portfolio that was leased to Brookdale Senior Living for $1.125 billion.
‘Unprecedented’ Competition Takes a Bite Out of Brookdale’s Earnings— The nation’s largest senior living provider announced third-quarter revenue of $1.25 billion, which was way off from what analysts expected. The cause of this huge drop? Brookdale says oversupply.
UPDATED: Welltower to Overhaul Portfolio with $4.1 Billion in Sales by 2017—Another major real estate investment trust (REIT) is making some major changes to its portfolio. Welltower plans to increase its disposition target to $4.1 billion for 2016.
Birth of a REIT: Taking Stock of HCP and Its Spin Off—This week marked the start of regular trading for Quality Care Properties (NYSE: QCP), the skilled nursing spin-off from HCP Inc. But it may take years to judge the success of the move from the Irvine, California-based real estate investment trust.
Latest Dining Innovations
Have you checked out our newest report, on innovative dining trends that could help senior living increase revenue? Here’s a palate teaser: Food Trucks Come To Senior Living