Risk Aversion Holding Back Nonprofit Senior Living, Despite Affiliation Trends

Nonprofit senior living providers have shown an increased appetite for growth through affiliation and expanding existing campuses in recent years. Yet an aversion to risk born out of the post-2008 economic downturn has the sector trailing its for-profit peers. These trends are on display in the 16th annual LZ 200 list of top nonprofit providers […]

CareTrust Prunes Portfolio in Q3, With Eye Toward 2020 Growth

CareTrust REIT (Nasdaq: CTRE) has spent most of 2019 doing some “spring cleaning” of its portfolio of long-term care facilities — including its senior housing assets — and focused on restructuring its portfolio and transitioning operators in the third quarter with an eye toward future growth in 2020 and beyond. “After five years, a lot […]

Transactions & Financings: Prime Care’s $285M Refinancing; $95M Single-Site Sale

Prime Care refinances 13-property portfolio for $285M Prime Care Properties secured a $285 million refinancing package for its portfolio of 13 senior housing properties in Connecticut, Florida, Georgia, Maryland, New Jersey, North Carolina and Tennessee. The total portfolio consists of 1,081 assisted living, 301 memory care, and 85 skilled nursing units. Capital One closed on […]

ReNew REIT Named as Buyer of $385M New Senior Portfolio

The buyer of New Senior Investment Group’s (NYSE: SNR) portfolio of assisted living and memory care communities has been revealed. ReNew REIT, the health care real estate investment trust recently founded by former Health Care REIT CEO George Chapman, was listed as the buyer in a 10Q form New Senior filed on Tuesday with the […]

New PE Firm Twin Light Acquires 13-Property Senior Housing Portfolio

A newly formed private equity firm made its initial foray into senior housing, and sees an opportunity to work with the operator to unlock value in what is a mostly stable collection of communities. Twin Light Capital acquired 10 Diamond Willow Assisted Living communities across Minnesota, as well as Keystone Bluffs Assisted Living in Duluth, […]

‘Unprecedented’ Market Dynamics Hurt Ventas’ Senior Housing Portfolio

Ventas’ (NYSE: VTR) senior housing portfolio (SHOP) performance has lagged throughout 2019. That performance took a turn for the worse in the third quarter of 2019. A combination of market dynamics, particularly on pricing, surprised Ventas’ operating partners in Q3. Those conditions worsened over the course of the quarter, with occupancy taking a “precipitous leg […]

Transactions & Financings: Sabra Closes $350M Debt Offering; SHN’s $58M Portfolio Sale

Sabra completes $350M debt offering Sabra Health Care REIT (Nasdaq: SBRA) completed an underwritten public offering of $350 million worth of 3.9% senior notes due in 2029. The Irvine, California-based health care real estate investment trust filed a Form 8-K with the Securities and Exchange Commission on October 7, announcing the closing. Proceeds will be […]

English Meadows Grows Into Regional Senior Living Force

Mike Williams recently bought a recreational vehicle, for practical reasons. “Now I have a place to sleep when I visit our communities,” the founder and CEO of English Meadows Senior Living Communities told Senior Housing News. Williams and his RV will continue to add mileage for the foreseeable future. The Christianburg, Virginia-based owner-operator has been […]

Former Omega Healthcare Execs Form New Private Company, Hana 2.0

A group of long-term care veterans led by former AVIV REIT chairman Craig Bernfield are launching a new private company to acquire, develop and enter into triple-net leases on health care real estate for seniors. Hana2.0 Property Group will initially focus equally on assisted living and skilled nursing assets, co-President Jeff Marshall told Senior Housing […]