Veteran Senior Living Leader Handelson Named CEO of Greystone Health Network

Stephanie Handelson, whose resume includes leadership positions across several senior living providers, has been tapped as the new CEO of Greystone Healthcare Management. In taking this position, Handelson will now lead a company that has a focus on skilled nursing. Tampa, Florida-based Greystone manages a portfolio of 28 skilled nursing facilities (SNFs) across the Sunshine […]

Sanford Reportedly Mulling Merger With $1 Billion Health System in Chicago

Just months after announcing plans to join forces with one of the largest non-profit senior living providers in the U.S., non-profit hospital system Sanford Health is reportedly considering yet another mega-merger. This time, Sioux Falls, South Dakota-based Sanford could soon announce a merger with a $1 billion health system based in Chicago, said CEO Kelby Krabbenhoft according […]

Welltower, ManorCare Deal Could Cost ProMedica Its A+ Credit Rating

Standard & Poor’s is contemplating a downgrade of ProMedica Health Systems’ credit rating, in light of the nonprofit’s acquisition of struggling skilled nursing giant HCR ManorCare. That transaction—a joint venture with real estate investment trust Welltower (NYSE: WELL)—closed last week. While asserting that the non-profit health system still has an A+ rating for its long-term […]

Possible Foreclosure, Lawsuit Point to Further Signs of Financial Distress at Mainstreet

Two new developments point to signs of financial distress at Mainstreet. First, a former Mainstreet executive is suing the Carmel, Indiana-based organization, alleging that it terminated him in November 2017—“in plain violation” of his employment contract and “without cause”. The move, the plaintiff claims, was made so that Mainstreet could save money, as it was facing […]

Here’s What the GOP Tax Bill Means for Senior Housing Owners

For many senior housing owners and investors, the tax reform package passed by Republican members of Congress on Wednesday represents a tax break. The bill’s impact on skilled nursing operators and investors, however, remains less than clear. For instance, non-profit developers of continuing care retirement communities (CCRCs) received mixed holiday blessings: The compromise tax bill saving a […]

Ziegler Fights Against Tax Bill Threat to Nonprofit Providers

Major senior housing financing players are hoping a last-minute advocacy push can persuade Congress to save a critical funding mechanism for non-profit senior housing providers — though there are few guarantees as the Republican-backed tax bill moves on to reconciliation. The House version of the GOP’s sweeping rewrite of the U.S. tax code includes the elimination of private activity bonds (PABs), tax-exempt funding sources […]

Mainstreet Health Investments Buys Care Investment Trust for $425M, Announces Name Change

Mainstreet Health Investments (TSX: HLP.U) on Friday announced a plan to acquire Care Investment Trust, LLC for $425 million, giving the Toronto-based real estate investment firm 42 new senior housing and skilled nursing properties across the United States. Care Investment Trust had previously been a subsidiary of Tiptree, Inc. (Nasdaq: TIPT), which will become Mainstreet’s largest […]

Ventas Receives $488 Million From Sale of 22 SNFs

Ventas, Inc. (NYSE: VTR) on Thursday announced it had completed the initial phase of its sale of 36 skilled nursing facilities (SNFs) that are presently operated by Kindred Healthcare, Inc. (NYSE: KND). Specifically, Louisville, Kentucky-based Kindred recently completed the sale of 54 SNFs—22 of which were owned by Ventas. The REIT received $488 million from Kindred upon […]

Growing Senior Living Operator Sees Benefits in Skilled Care

Operating a continuing care retirement community (CCRC) generally requires the full continuum of senior living services, from independent living to long-term senior care. But amid troubles in the skilled nursing marketplace, some senior housing operators have moved away from skilled nursing facilities (SNFs) entirely. Others, meanwhile, have said that if they could go back in time, they […]

Sabra, CCP Mega-Merger Approved

Shareholders of Sabra Health Care REIT, Inc. (Nasdaq: SBRA) on Tuesday approved the real estate investment trust’s (REIT’s) merger with Care Capital Properties (NYSE: CCP), ending a public battle involving multiple lawsuits and dissident hedge funds. For the full story, see our coverage on Skilled Nursing News. Written by Alex Spanko