The cost of residing in an assisted living community is steadily climbing thanks in part to the ongoing labor shortage, according to the latest Cost of Care Survey from insurer Genworth Financial (NYSE: GNW). The national median costs for a one-bedroom unit in a private-pay assisted living community is now $3,750 per month, or $45,000 a […]
Senior Housing News is excited to announce the official start of the 2017 SHN Architecture & Design Awards, exclusively sponsored by Kwalu. Professionals and students from around the world can now submit their projects at shnawards.com. Every year, more than 80 organizations and students enter their communities for their unique approaches to senior living design. […]
Ventas, Inc. (NYSE: VTR) on Thursday announced it had completed the initial phase of its sale of 36 skilled nursing facilities (SNFs) that are presently operated by Kindred Healthcare, Inc. (NYSE: KND). Specifically, Louisville, Kentucky-based Kindred recently completed the sale of 54 SNFs—22 of which were owned by Ventas. The REIT received $488 million from Kindred upon […]
HCP Inc. (NYSE: HCP) and CareTrust REIT (Nasdaq: CTRE) both issued statements on Thursday to provide an update on their residents and communities in the aftermath of Hurricane Harvey. Though each had to evacuate senior housing communities, no one was hurt and limited damage was done to buildings. Irvine, California-based HCP had to evacuate three […]
A new campaign is sparking conversations about aging and senior living in airport security lines and other unlikely spots across the country. Called “Old People Are Cool,” the initiative is meant to combat ageism and raise the profile of the senior care industry, says Charles de Vilmorin, who started the project. He is CEO and […]
Operating a continuing care retirement community (CCRC) generally requires the full continuum of senior living services, from independent living to long-term senior care. But amid troubles in the skilled nursing marketplace, some senior housing operators have moved away from skilled nursing facilities (SNFs) entirely. Others, meanwhile, have said that if they could go back in time, they […]
Quality Care Properties (NYSE: QCP) — the real estate investment trust that spun off from HCP Inc. (NYSE: HCP) last year — has started the legal process for transferring its many HCR ManorCare skilled nursing, assisted living, and memory care properties into the control of an independent receiver. Toledo, Ohio-based ManorCare operates more than 500 skilled […]
Sabra Health Care REIT, Inc. (Nasdaq: SBRA) CEO Rick Matros used the company’s quarterly earnings call Thursday to strike back at activist investors looking to foil the impending merger with Care Capital Properties (NYSE: CCP). Matros, amid the disclosure of second-quarter revenues that beat projections, called the hedge funds that will vote against the deal […]
Kindred Healthcare (NYSE: KND) has found a buyer for its skilled nursing portfolio, and its major real estate investment trust (REIT) landlord Ventas (NYSE: VTR) expects to ultimately receive $700 million from the deal. The buyer, BM Eagle Holdings, is a joint venture led by affiliates of BlueMountain Capital Management, a privately held New York-based […]
Skilled nursing provider HCR ManorCare and its primary landlord, real estate investment trust Quality Care Properties (NYSE: QCP), faced a one-two punch of bad news Monday, with the provider failing to make rent and rumors swirling about its CEO’s demands for a generous compensation package. QCP announced in an 8-K filing that HCR ManorCare came […]
