As competition heats up within the senior housing industry, some companies are doing their best to cool down one common practice—discounting their prices. Discounting rents or offering similar financial incentives has become commonplace to persuade prospective residents into moving into a senior living community. The practice was particularly prevalent in the years immediately following the […]
Category: Finance & Development
After a week in which senior living providers intensified fears of oversupply, real estate investment trust (REIT) National Health Investors, Inc. (NYSE: NHI) is not concerned. With increasing pressures on operators, though, NHI indicated it wouldn’t be surprised to see lower rent escalators across the industry. Despite the nation’s largest senior living provider, Brookdale Senior Living […]
Five Star Senior Living (Nasdaq: FVE) may not own a huge number of properties, but at least a few stakeholders believe it might make sense for the provider to own even less real estate. The company may want to consider selling or closing some of the struggling communities that it owns, according to David Hegarty, CEO […]
Welltower Inc. (NYSE: HCN) is undertaking a major repositioning of its portfolio, increasing its disposition target for the full year to $4.1 billion. Previously, Welltower’s guidance for the year targeted $1.3 billion in dispositions. As of Sept. 30, 2016, the company had closed on $832 million in total dispositions. As part of this newly announced portfolio repositioning […]
Tuesday began with one major senior housing provider warning of historic levels of new competition in certain markets, and ended with another prominent provider telling a different story. Brookdale Senior Living (NYSE: BKD), the nation’s largest senior living provider, blamed bad third-quarter financial results largely on “unprecedented” levels of new competition in secondary markets. But […]
HCP Inc. (NYSE: HCP) is selling a portfolio of 64 properties leased to Brookdale Senior Living (NYSE: BKD) to affiliates of Blackstone Real Estate Partners VIII L.P. and Columbia Pacific Advisors for $1.125 billion. This was the headline deal among several transactions announced Tuesday by Irvine, California-based real estate investment trust (REIT) HCP and its […]
Lancaster Pollard Helps Two California-Based Senior Living Providers Refinance Communities Lancaster Pollard recently helped two California-based clients refinance their senior housing properties using the Fannie Mae Seniors Housing program. First, Lancaster Pollard assisted Sterling Senior Communities in completing a $19 million refinance of Tanner Springs, a 115-bed assisted living and memory care community in Oregon. […]
Five Star Senior Living (NYSE: FVE), one of the nation’s largest senior living providers, has blocked the efforts of activist shareholder Senior Star to gain a greater stake in the company, at least for the moment. The saga between Five Star and Senior Star goes back nearly a year, when Senior Star proposed to buy […]
(Rendering of Arcardia Senior Living, located in Bowling Green, Kentucky —Photo courtesy of Arcadia Senior Living) Construction: Planned Arcadia Community Planned in Kentucky A new senior housing community in Bowling Green, Kentucky is being planned by Arcadia Communities. The community will be constructed on a seven acre portion of land and will encompass 80,000 square […]
Recently, owners of continuing care retirement communities (CCRCs) have been spending more money than usual to expand and keep their existing communities looking fresh. In fact, capital spending for CCRCs in the United States has reached its highest level since the Great Recession, according to a new report from Fitch Ratings. Median capital spending for CCRCs […]
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