Must-Read News: Kindred SNF Sale on Track, Occupany and Oversupply Struggles

Happy Monday, Senior Housing News readers!

Sunday was National Friendship Day, and we’re celebrating with the story of four high school best friends that now live as neighbors on the seventh floor of the Brookdale Niles independent living community in Niles, Illinois. The 91-year-olds—Rochelle Schpak, Florence Burgher, Phyllis Dubow and Eileen Kritzman—met when they were teenagers in the 1940s and remained close over the next 74 years. Now, they all live in their own apartments at Brookdale Niles and still spend time together regularly.

When asked about the key to maintaining lifelong friendships, they answered, “You gotta like each other!”

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(PRNewsfoto/Brookdale Senior Living)

Now, here’s the news you need to start your week, including highlights from last week’s earnings bonanza:

Kindred Healthcare (NYSE: KND) hosted its second quarter earnings call Friday morning and reported that everything is on track with the sale of its skilled nursing portfolio, as well as positive results for its home care arm.

Ventas Inc. (NYSE: VTR) had a strong second quarter, despite occupancy and oversupply issues. A rough flu season widened the company’s occupancy gap, while high levels of new construction in areas such as Dallas, Salt Lake City, Atlanta and Denver constrained the company’s growth. Still, Ventas expects to grow its senior housing portfolio’s net operating income by up to 2% for the full year, in line with its previous expectations.

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HCP Inc. (NYSE: HCP) reported occupancy issues and “distractions” at Brookdale Senior Living (NYSE: BKD), HCP’s tenant and the nation’s largest senior living provider. HCP intends to reduce its concentration of Brookdale properties to 20% or less.

Holiday Retirement, the nation’s top independent living provider, is entering the home care space with a new venture called Milo. Spearheaded by “Green House” pioneer Bill Thomas, Milo currently offers services in Charlotte, North Carolina, with Orlando, Florida, and Portland, Oregon, flagged as the next markets for expansion.

Sunrise Senior Living is introducing seven new “Sunrise Villa”-branded communities in urban areas, with an eye toward integrating them into their surrounding neighborhoods.

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Written by Elizabeth Jakaitis

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