Real estate investment trusts (REITs) might soon feel “buyer’s remorse” over recent decisions to bulk up their senior housing operating portfolios, according to Eric Mendelsohn, CEO of National Health Investors (NYSE: NHI). In recent years, several factors drove some REITs to go big on RIDEA. With new supply, labor and other challenges squeezing their net […]
In September 2018, 33 properties operated by Little Falls, New Jersey-based Atrium Health and Senior Living went into receivership. Following recent transactions, those properties have now all been either closed or sold. North Shore Health Care — based in the Milwaukee suburb of Glendale, Wisconsin — has acquired 22 of the communities. Of these, 16 […]
Summit Healthcare REIT on Thursday announced the appointment of a new CEO and a new COO. President Kent Eikanas will now serve as CEO of the Lake Forest, Calif.-based real estate investment trust (REIT), which has holdings in both senior housing and skilled nursing. Eikanas had held the title of president since September 2012, and […]
Stephanie Handelson, whose resume includes leadership positions across several senior living providers, has been tapped as the new CEO of Greystone Healthcare Management. In taking this position, Handelson will now lead a company that has a focus on skilled nursing. Tampa, Florida-based Greystone manages a portfolio of 28 skilled nursing facilities (SNFs) across the Sunshine […]
Mainstreet has sold the operations of four Rapid Recovery Centers in Texas to a former executive and his newly formed operations company. Mark Fritz — the former executive who helped create the “Rapid Recovery Center” model for the Carmel, Indiana-based senior care developer — is the one who purchased the facilities in Fort Worth, Round […]
Standard & Poor’s is contemplating a downgrade of ProMedica Health Systems’ credit rating, in light of the nonprofit’s acquisition of struggling skilled nursing giant HCR ManorCare. That transaction—a joint venture with real estate investment trust Welltower (NYSE: WELL)—closed last week. While asserting that the non-profit health system still has an A+ rating for its long-term […]
The acquisition of HCR ManorCare by nonprofit health system ProMedica could be a sign of things to come for senior housing and care. Specifically, health systems and managed care organizations are increasingly seeing the value in owning senior living and skilled nursing providers, and they could become more active buyers in the future—particularly if this […]
Welltower Inc. (NYSE: WELL), one of the largest owners of senior housing properties in the United States, has reached an agreement to acquire another major player in the sector, Quality Care Properties (NYSE: QCP), in a $1.95 billion all-cash deal. Under this deal, Welltower will own the real estate of major post-acute provider and former […]
Welltower (NYSE: WELL), one of the “Big 3” senior housing real estate investment trusts (REITs), is rumored to be in talks to purchase Quality Care Properties Inc. (NYSE: QCP). Welltower and ProMedica, a nonprofit hospital network operator, reportedly made a $2 billion offer to acquire skilled nursing-focused QCP, Reuters reported Wednesday, citing people familiar with the situation. This […]
Mainstreet, one of the largest developers of post-acute properties in the United States, is having a rocky launch for its Rapid Recovery Center offering. One year ago, Mainstreet’s plan was to open 11 Rapid Recovery Centers over 18 months, in Arizona and Texas. Now, the Carmel, Indiana-based company has decided to pull out of the […]