The coronavirus pandemic continues to pressure operations across the senior living industry. For Capital Senior Living (NYSE: CSU), the crisis could threaten its ability to remain a going concern. The Dallas-based operator’s Q1 2020 earnings raised questions about its financial position if its communities remain secured to non-essential personnel for an extended period of time. […]
The coronavirus pandemic sent occupancy rates for senior housing and skilled nursing communities on a downward trajectory in April, according to a new intra-quarterly report released Tuesday by the National Investment Center for Seniors Housing & Care (NIC). Senior housing stabilized occupancy among NIC’s 31 primary markets dropped 110 basis points to 88.7% — the […]
On Monday, the Centers for Medicare & Medicaid Services (CMS) issued guidance to ensure that nursing homes have safe re-opening plans as states prepare to relax lockdowns stemming from the coronavirus pandemic. The guidance includes benchmarks that may be adopted by independent living and assisted living communities transitioning from their own access restrictions. But it […]
As more states are now mandating that assisted living facilities test either residents, staff or both for Covid-19, providers that have been asking for widespread testing for weeks are now faced with logistical challenges and unanswered questions. This highlights the need for best practices and guidelines if testing mandates are going to become more commonplace, […]
The coronavirus pandemic is highlighting the need — and current lack — of middle-market senior housing, but Covid-19 may also be opening the door for investors and operators to meet growing demand for this product. Investor groups are studying the market landscape to determine how to crack the middle-market equation, and many see the easiest […]
As with other publicly traded owners, The Pennant Group (Nasdaq: PNTG) has been under pressure from the coronavirus pandemic since mid-March. The Eagle, Idaho-based owner is now seeing an uptick in home health census this month, as well as stabilization in its senior housing occupancy, and believes these trends can continue throughout the second quarter, […]
Welltower sells Florida assisted living facility for $56M Welltower (NYSE: WELL) sold Aston Gardens Assisted Living in Parkland, Florida for $55.7 million, The Real Deal Miami reports. The buyer was Kayne Anderson Capital Advisors. the property is operated by Discovery Senior Living. The property sold for $78 million in 2015. The latest sale marks a […]
National Health Investors (NYSE: NHI) was not immune to the Covid-related pressures that other health care real estate investment trusts (REIT) have grappled with since mid-March. Occupancy rates decreased significantly in April, leads are in decline, tours are at a standstill and move-ins have slowed across its roster of senior housing operators. And while rent […]
Tyson Belanger has slept in his office since mid-March. Belanger, owner of Shady Oaks Assisted Living in Bristol, Connecticut, gave up his home next door to the 36-unit facility for staff members to live in during the coronavirus pandemic. Other staff are living in five recreational vehicles Belanger purchased, and still others are living in […]
After affiliating with Sanford Health in 2019, the Evangelical Good Samaritan Society entered 2020 on stable footing and with access to ample financial resources as part of a larger health system. This improved financial position and the flexibility it brings is being put to the test during the Sioux Falls, North Dakota-based nonprofit provider response […]
