Imagine living in a suite overlooking an atrium that has the atmosphere of a healing garden, at other times is a venue for musicians or performers, and sometimes is a social gathering place for friends, family and neighbors. This is the experience for older adults residing in care suites adjacent to the atrium winter garden […]
With senior living occupancy lower than he’s ever seen it due to Covid-19, National Health Investors (NYSE: NHI) President and CEO Eric Mendelsohn has had to become a more empathetic leader — while still safeguarding NHI’s business and securing its future But Mendelsohn is feeling more optimistic than he was during the last earnings call […]
Lifespace Communities CEO Jesse Jantzen had his work cut out for him when he joined the company in April 2020. He joined a nonprofit provider that entered into an affiliation with Texas-based Senior Quality Lifestyles Corporation (SQLC) in May 2019 — a merger that took a year in negotiations to complete. The SQLC affiliation brought […]
After spending most of 2019 pruning its portfolio, CareTrust REIT (Nasdaq: CTRE) is adding senior housing to its asset mix. The San Clemente, California-based health care real estate investment trust on Tuesday announced the acquisition of four rental continuing care retirement communities (CCRC) in Southern California, as well as a new operator relationship. The campuses […]
Three-dozen municipal debt issues for senior living communities fell into default in 2020, and five more borrowers have failed to make payments this year. That’s according to an analysis published last week by Bloomberg. A previous analysis, done by Municipal Market Analytics in Aug. 2020, showed 23 retirement communities had reported first-time defaults on municipal […]
Occupancy for life plan communities dipped to 85.7% in the fourth quarter of 2020, representing a new low for the product type, but the rate is still far higher than what the wider industry is seeing. That’s according to a new analysis from specialty investment bank Ziegler and Lana Peck, senior principal with National Investment […]
The Spires at Berry College has a claim to fame, being located on the world’s largest college campus. And the recently opened continuing care retirement community (CCRC) makes the most of its location by integrating seamlessly with its picturesque surroundings and the neighboring school. Laurie Steber could tell that the community was going to be […]
A Chicago area continuing care retirement community has exited a 15-month Chapter 11 bankruptcy process with a reduced debt load, a new operator and a $5 million capital improvement plan in place for 2021. Clare Oaks, located in the suburb of Bartlett, emerged from bankruptcy on November 6, 2020, the community announced in a statement. […]
A continuing care retirement community in suburban Chicago filed for Chapter 11 bankruptcy protection last week, after defaulting on a portion of its $141 million in debt. Park Place of Elmhurst in Elmhurst, Illinois defaulted on nearly $15.5 million in bond debt issued by the Illinois Finance Authority in 2016, a document filed in the […]
The resilience of independent living during Covid-19, coupled with a stronger-than-expected market for residential home sales, will contribute to a stable outlook for life plan communities in 2021. That’s according to a report released Wednesday from Fitch Ratings. The credit rating agency also cited favorable demographic trends and good access to capital markets as contributing […]
