Last week, Emeritus Corporation (NYSE:ESC) agreed to purchase Nurse on Call, Inc., the largest Medicare-licensed home healthcare provider in Florida. Emeritus, the nation’s largest assisted living and memory care provider, will pay $102 million in cash for 91% of Nurse on Call’s parent company. The remaining equity will be owned by certain members of Nurse […]
Category: Finance & Development
Each quarter, senior living companies and the entities that invest in them release earnings reports and hold calls with analysts. At the end of each earnings call, executives will generally field questions from analysts to provide further insight or color into portfolio performance or acquisition strategy. Here are a collection of “snippets” from calls held […]
Brookdale Senior Living (NYSE:BKD) reported a net loss of $12 million, or $(0.10) per diluted common share, in the third quarter ended Sept. 30, 2012, despite the company’s entrance fee CCRCs producing a record number of independent living sales. “We were pleased with our overall performance in the third quarter,” said Bill Sheriff, Brookdale’s CEO, […]
Assisted Living Concepts (NYSE:ALC) posted a $4 million loss in the third quarter ended Sept. 30, 2012, compared to a net income of $5.8 million one year previously. Were it not for a slew of One Time Items in the quarter and the nine months ended Sept. 30, ALC’s third-quarter net loss would have been […]
The most troublesome issue facing the senior housing industry is the upward trend of incoming residents’ ages, said Aaron Conley, president of healthcare real estate development and capital advisory firm Third Act Solutions, during an Urban Land Institute webinar on the 65+ housing industry. Currently at 85, the incoming age is increasing at an average […]
Walker & Dunlop Secures $381.8 Million Refinance for REIT SNF Portfolio Walker & Dunlop recently secured a $381.8 million refinance for healthcare REIT Extendicare Health Services’s 51-property portfolio of skilled nursing facilities, reports Globe St. The deal was complex due to its structure as separately obtaining refinancing each property using the Department of Housing and […]
HCP Inc.’s (NYSE:HCP) $1.73 billion acquisition of the Blackstone-Emeritus joint venture was the pitch the largest healthcare REIT was waiting for—”a fastball, right down the middle of the plate,” according to chairman and CEO Jay Flaherty on the third quarter earnings call. During a first quarter earnings call, an analyst had mentioned HCP’s “relatively low […]
Construction: Planned SRP Medical, Frontier Management to Build McKinney, Tex. Community SRP Medical and Frontier Management are planning an 80,000-square-foot McKinney, Tex. senior living community. The new development will offer 75 assisted living and 32 memory care units in studio, one-bedroom, and two-bedroom apartments. Amenities will include a theater room, dining and activity areas, and […]
Note: This covers Q3 earnings for Senior Housing Properties Trust (NYSE:SNH) & Five Star Quality Care (NYSE:FVE). SNH’s Net Income Falls in Q3 Due to Expenditures, Capital Distributions Senior Housing Properties Trust saw its net income fall to $25.6 million, or $0.15 per share, for the quarter ended Sept. 30, 2012, compared to $30 million or […]
Ventas, Inc. (NYSE:VTR) saw its net income attributable to common stockholders rise 8.7% to $111.9 million in the third quarter ended Sept. 30, 2012 on strength of the $1.7 billion in acquisitions the real estate investment trust has completed so far this year. As the largest senior housing and care REIT and second-large healthcare REIT, […]
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