Across 15 different lenders, there were over $1 billion in loans tied to senior housing communities delinquent for over 60 days in the first quarter of 2021. And foreclosures totaled nearly $54 million during this period. But the pace of loan delinquency has declined significantly from its Q3 2020 peak, according to a new lending […]
Occupancy for life plan communities held steady at 84.4% in the second quarter of 2021, still down nearly 5% compared to the previous year. And there are notable disparities in the occupancy rates between entrance fee-based life plan communities and their rental counterparts, as well as nonprofit and for-profit campuses. That’s according to a new […]
Two of the more notable real estate tech platforms in the senior living space are merging. Richardson, Texas-based RealPage, which offers property and real estate management software and services for a range of real estate sectors including senior housing, announced it is acquiring G5, a provider of digital marketing, advertising and analytics solutions to the […]
Capital Senior Living (NYSE: CSU) is taking a big step to improve its liquidity and enhance its balance sheet. The Dallas-based senior living provider on Thursday announced plans to raise up to $152.5 million through the private placement of convertible preferred stock to affiliates of Conversant Capital, a private investment adviser. Capital is also proposing […]
Global real estate investment management firm Heitman joins a growing list of investors looking to capitalize on growing distress in senior housing. The Chicago-based firm announced the closing of three private equity funds, raising a total of $3.2 billion among them. The funds include: A value-add fund series with $1.9 billion in commitments, focusing on […]
Diversified Healthcare Trust (Nasdaq: DHC) is making progress on its plan to transition 108 communities operated by Five Star Senior Living (NYSE: FVE) to new operators by the end of 2021. The Newton, Massachusetts-based real estate investment trust (REIT) announced three new management agreements with operators for 66 communities, accounting for 61% of the portfolio […]
Active adult senior housing continues to generate intense interest from investors and builders across the greater real estate industry. Newcomers to the space include multifamily developers and operators, but a growing number of senior housing developers and operators are gravitating toward active adult as well — including Allegro Senior Living and Vitality Living. These companies […]
Brookdale Senior Living (NYSE: BKD) completed the previously announced sale of its home health, hospice and outpatient therapy business line to HCA Healthcare. The sale was first announced in February. Under the terms of the deal, the Brentwood, Tennessee-based senior housing operator sold an 80% stake in Brookdale Healthcare Services to HCA for $400 million. […]
Covid-19 dramatically highlighted that senior living communities are health care settings. With that comes an increasing belief among prospective residents and their families that operators will assume primary responsibility coordinating care. Operators recognizing the shift have been able to create an integrated model, blending the hospitality aspects of senior housing with providing primary care and […]
As the senior living industry enters a post-Covid environment, rising expenses are hitting bottom lines and raising doubts about how quickly operators can recover financially. Labor was an ongoing concern, pre-pandemic. Now, hiring employees is the top challenge, and providers are competing against other industries for entry-level and skilled talent, face higher minimum wage floors, […]
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