Transactions & Financings: BHI, Covenant Living Acquire Troubled CCRCs

Senior Quality Lifestyles acquires Indiana CCRC for $61M Cushman & Wakefield arranged the $61 million sale of Barrington of Carmel, a 267-unit continuing care retirement community in the Indianapolis suburb of Carmel, Indiana. Cushman & Wakefield Senior Housing team of Allen McMurtry, David Kliewer and Paul Carr represented an affiliate of Addison, Texas-based Senior Quality […]

These are Senior Housing’s Top 10 Major Construction Markets

There are 25,340 independent living and assisted living units underway in the top 10 U.S. senior housing construction markets, according to a new report from real estate investment and brokerage services firm Marcus & Millichap. The Calabasas, California-based firm analyzed data from the National Investment Center for Seniors Housing & Care (NIC) to determine its […]

Carlyle Group, Other Active Adult Pioneers Venture Into ‘Uncharted Territory’

The most experienced developers and investors in active adult communities are reaping benefits from the product type, as the senior living industry at large scrambles to define its parameters. More seasoned players in the active adult market — including private equity giant The Carlyle Group — say that it is a product where average lengths […]

CCRC Margins Decline, Long-Term Outlook Remains Stable

Liquidity metrics and net operating margins at U.S. continuing care retirement communities dipped in 2018, driven by an increase in capital spending and a volatile equity market, according to a new report from Fitch Ratings. Median core operating performance decreased to 5.9% in 2018, compared to 7.2% the previous year. Net operating margins, meanwhile, dropped […]

Brookdale Makes Case Against Flaherty Board Nom, Real Estate Spinoff

Brookdale Senior Living (NYSE: BKD) has made its most pointed comments to date regarding ongoing tensions with activist shareholder Land & Buildings Investment Management, and urged shareholders not to elect former HCP CEO Jay Flaherty to the board. In a definitive proxy statement filed with the Securities & Exchange Commission (SEC) on Wednesday, the Brentwood, […]

12 Oaks CFO Puklicz: Senior Living Operations Need Better Data

Since Greg Puklicz joined 12 Oaks Senior Living in May 2018, he has helped lay the groundwork for a rapid expansion of scale. The family-owned company operates a portfolio of 16 private-pay senior housing communities in Texas and Oklahoma, and is looking to expand to 25 communities over the next two years, he said in […]

Five Star Announces Reverse Stock Split in Latest Restructuring Move

After posting its first quarterly profit in six years in the second quarter of 2019, Five Star Senior Living (Nasdaq: FVE) is taking steps to make itself a viable publicly traded company. The Newton, Massachusetts-based senior housing operator’s board of directors approved a reverse stock split intended to bring Five Star to the minimum $1 […]

Raising Wages Can Lead to Better Occupancy, Rates in Senior Living

High labor costs are among the top issues impacting the senior living industry. But raising wages also may help solve a host of other ills — not only improving recruitment and retention, but driving occupancy and higher rates. The subject of a living wage was one of several actionable strategies for workforce development and retention […]

NIC Seeks Active Adult Definition, Announces PointClickCare Partnership

Leaders with the National Investment for Seniors Housing & Care (NIC) put the spotlight on the middle market opportunity and the rise of active adult housing, as the organization’s fall conference got underway in Chicago on Wednesday. In addition, a new data sharing partnership with PointClickCare will bring added firepower to NIC’s actual rates initiative. […]

Transactions & Financings: Brookdale’s $160M Credit Facility; Westmont Living’s $58M Acquisition

The NIC Fall Conference is underway in Chicago and the deals are flowing like wine. Here are some recent transactions. Brookdale secures $160M credit facility Brookdale Senior Living (NYSE: BKD) secured a $160.3 million credit facility for a five-community, 945-unit portfolio in Alabama, Michigan, Pennsylvania and Texas. Brookdale has owned and operated the portfolio for […]