Assisted Living Concepts’ new CEO is touting staff training and technology deployment as key focuses of the newly-private company as it enters a “new era.” “As a private company over the next 100 days, our first effort will be to work with employees to jointly develop a new and clearly articulated mission, strategy, and culture […]
Category: Acquisitions
TJM Properties recently sold the majority of its senior housing portfolio to Fortress Investment Group (NYSE:FIG), the owner of Holiday Retirement Corp., in a transaction valued at more than $200 million, according to the Orlando Business Journal. The 15 properties included in the transaction comprised about 80% of TJM’s senior housing assets and are located […]
Holiday Retirement Assumes Management of N.Y. Senior Community Holiday Retirement announced in late July it has assumed management for The Manor at Woodside, an independent living community in Poughkeepsie, N.Y., following a recent acquisition from Woodside Associates. The Manor at Woodside is a 111-unit retirement community featuring a live-in management team available 24 hours a […]
The long-term care and home health and hospice sectors recorded the healthcare industry’s best year-over-year growth in the second quarter of 2013, boosted by the Affordable Care Act, says Irving Levin’s most recent health care merger and acquisition report. The number of home health and hospice deals rose 67% in the second quarter of 2013 compared […]
HCP Inc. (NYSE:HCP) reported a 4% boost in funds from operation (FFO) to $0.72 for the second quarter ended June 30, 2013 after completing $367 million of investment transactions in the quarter. The REIT’s FFO increased to $327.7 million up from $293.6 million, or $0.69 per share, in 2012’s second quarter. Revenue rose 12% to […]
The lead-up to a senior housing RIDEA deal between an operator and a real estate investment trust has been described many ways: as dating; as a courtship; even an arranged marriage. But at the end of the day, panelists at SHN’s 2013 Senior Housing Summit agreed, it’s all about alignment of goals, and there are […]
Chicago-based Ventas, Inc. (NYSE:VTR) reported funds from operations (FFO) of $304.4 million for the second quarter ended June 30, 2013, up nearly 29% from the $236 million reported one year prior. Per diluted common share, FFO increased to $1.03 from 2012’s $0.81. Normalized FFO increased 7% to $298.4 million in the quarter, compared to last […]
Proposed reimbursement cuts to the home health industry are offering senior living providers a ripe consolidation opportunity to acquire new assets at depressed values. Last month, the Center for Medicare & Medicaid Services (CMS) proposed a rule for the Home Health Prospective Payment System (HH-PPS) that would reduce the national, standardized 60-day episode reimbursement rate […]
National Health Investors (NYSE: NHI) is pumping even more capital into its joint-venture with Bickford Senior Living, following a $135 million acquisition of 17 senior housing communities the partnership closed earlier this month. The Tennessee-based real estate investment trust (REIT) reaffirmed its commitment to the joint venture with Bickford, announcing yesterday a new $9.2 million […]
NHI Acquires Assisted Living Community for $15.3 Million National Health Investors (NYSE:NHI) announced on Monday the $15.3 million acquisition of an assisted living community in Marysville, Ohio that will be leased to Emeritus Senior Living (NYSE:ESC). The Inn at Halcyon Village is a 76-unit assisted living and memory care community built in 2009. The lease […]
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