Healthpeak Properties’ (NYSE: PEAK) senior housing segment continues to struggle from the impact of Covid-19. But with a full quarter of operations during the outbreak under its belt, there are signs that the health care real estate investment trust (REIT) has entered the management phase of the pandemic. Occupancy declines are slowing on a sequential […]
Category: Finance & Development
Love Funding closes $16M in HUD financing Love Funding partnered with the Department of Housing and Urban Development (HUD) on two senior housing financing packages totaling $16.04 million. The firm’s parent company, Midland States Bank, was able to complete short-term bridge loans to secure funding. Highlights: A $3.14 million acquisition of Egida Hogar San Antonio, […]
The issues faced by LTC Properties (NYSE: LTC) on a lease with an affiliate of Senior Lifestyle Corp. in the second quarter of 2020 may be a sign of things to come among other real estate investment trusts in the senior living industry, especially if occupancy deteriorates further in the months ahead. Westlake Village, California-based […]
Real estate investment trust LTC Properties (NYSE: LTC) collected 92% of rent due in the second quarter of 2020, with most of the shortfall attributed to buildings operated by Senior Lifestyle Corp. Westlake Village, California-based LTC wrote off $17.7 million in straight-line rent receivable and lease incentive balances related to an affiliate of Senior Lifestyle, […]
Covid-19 disrupted capital market activity for senior living providers of all kinds, including nonprofit continuing care retirement communities (CCRCs). However, this summer has marked a shift, with multiple large financing deals being completed — a testament to greater confidence in bond market investors, and a reflection of CCRCs’ ability to withstand pandemic pressures. The coronavirus […]
Senior living providers across the U.S. received at least $252 million through Paycheck Protection Program (PPP) loans under $150,000. Assisted living and continuing care retirement community (CCRC) providers in California, Florida and Wisconsin received the most money through the program, according to a Senior Housing News analysis of PPP loan data released by the Small […]
Ventas (NYSE: VTR) and Brookdale Senior Living (NYSE: BKD) announced a revised master lease agreement Monday in which Brentwood, Tennessee-based operator Brookdale receives up to $500 million in rent reduction over the next five years. Ventas, a Chicago-based real estate investment trust (REIT), gains a potential equity stake in Brookdale. This agreement is designed to […]
Ziegler completes 3 transactions totaling $240M Ziegler completed the following transactions: A Series 2020 Bond package totaling $199.4 million for Acts Life-Retirement Communities, consisting of $115.11 million in Series 2020 tax-exempt bonds and $84.3 million in 2020 taxable bonds. The tax-exempt bonds were issued through the Wisconsin Public Finance Authority, Palm Beach County (Florida) Health […]
Senior housing capital markets remain unstable, four months after the coronavirus pandemic. But they are no longer in a state of “peak volatility.” Debt and equity lenders are returning to the space, but debt lenders in particular are slower to announce their presence, quick to retreat back to the sidelines, and are extremely cautious with […]
Editor’s Note: Editor’s Note: Interested in the active adult market? Check out SHN’s Active Adult Virtual Summit, taking place July 15-17. Click here to learn more and register. A relatively new senior living operator hopes to make some waves in the active adult space — and the company has hired former HumanGood Chief Strategy Officer […]