Every month, Lasell Village, – a CCRC on the campus of Lasell University in the Boston area – gets calls from other academic institutions wanting to replicate its senior living model. Based on the demand for expanding university-based senior living and the effects those models have on residents, Lasell Village President Zehra Abid-Wood believes now […]
Brookdale Senior Living, Atria Senior Living and LCS have maintained their top three positions as the country’s largest senior living operators, according to Argentum’s 2023 Largest Providers Report. The report, released Sept. 14, ranks U.S. senior living operators on a variety of self-reported metrics, including total units and total employees. It also showcases some of […]
The merger between Diversified Healthcare Trust (Nasdaq: DHC) and Office Properties Income Trust (Nasdaq: OPI) has been called off, according to a news release issued late Friday afternoon. In April, the companies announced the proposed merger that would have seen OPI acquire all the outstanding common shares from DHC to create a combined entity called […]
Diversified Healthcare Trust (Nasdaq: DHC) has announced an “event of default” on its $450 million credit facility. The credit facility in question required Diversified to maintain collateral properties at an appraised aggregate value of $1.09 billion. But the value of the REIT’s properties declined from $1.34 billion to $1.05 million following a reappraisal of 61 […]
When I recently asked Welltower (NYSE: WELL) CEO Shankh Mitra why the company pursued IRS approval to self-manage independent living assets, he replied with a question of his own. “Do you not know the state of our industry?” he asked. The sector continues to fall woefully short in attracting customers, has failed to create a […]
Last Friday, AlerisLife management announced that the company is being sold to another firm led by Managing Director and Board Chair Adam Portnoy. The company’s board has agreed to sell the company to Portnoy’s firm, ABP Acquisition, for $1.31 per share in cash, or approximately $43.8 million. With the sale, AlerisLife will be taken private […]
Publicly traded senior living company AlerisLife (Nasdaq: ALR) is being sold to a firm majority owned and controlled by Adam Portnoy, who is also CEO of the RMR Group. “Adam and I agree that being a privately owned rather than a publicly traded company will allow us to enhance our focus on operational excellence and […]
Diversified Healthcare Trust (Nasdaq: DHC) has received a warning from the Nasdaq Stock Market to boost its stock price above $1 per share or face delisting from the index. That’s according to a Jan. 23 public filing from the Newton, Massachusetts-based real estate investment trust (REIT). As is standard when companies face delisting warnings, the […]
So far in 2023, senior living headlines reveal a sector in pain, with industry giant Brookdale (NYSE: BKD) among those feeling the sting. Late last week, Brookdale warned that full-year 2022 earnings would likely be below expectations and announced a C-suite shakeup. Today, the share price hit a new 52-week low, at $2.42 a share. This […]
Each passing year brings closer the huge demand wave for senior living. And as 2023 begins, providers are more focused than ever on the next generation of consumers — but also are struggling to find ways to evolve the product as needed. The struggle is due to economic turmoil and uncertainty, with tight labor markets, […]
