CareTrust REIT Acquires 4 California CCRCs for $126.1 Million

After spending most of 2019 pruning its portfolio, CareTrust REIT (Nasdaq: CTRE) is adding senior housing to its asset mix. The San Clemente, California-based health care real estate investment trust on Tuesday announced the acquisition of four rental continuing care retirement communities (CCRC) in Southern California, as well as a new operator relationship. The campuses […]

Transactions & Financings: Pennant Group Expands Credit Facility; Springpoint’s $115M Refinancing

The Pennant Group (Nasdaq: PNTG) gave itself more financial flexibility a year into the coronavirus pandemic. The Eagle, Idaho-based company amended its revolving credit facility to $150 million, of which only $18.3 million was drawn as of February 22. Coupled with strong cash flow, expands Pennant’s ability to opportunistically target senior housing, home health and […]

Brookdale CEO Foresees Senior Living Benefits from HCA Deal, Hopeful About Occupancy Recovery

Brookdale Senior Living (NYSE: BKD) residents are getting their Covid-19 vaccines in droves — and the company’s leaders are hopeful that will push occupancy trends positive in 2021. Brookdale’s executives also are touting potential senior living-related benefits of the company’s just-announced deal to sell an 80% stake in its home health, hospice and outpatient therapy […]

Brookdale to Sell 80% Stake in Home Health, Hospice Segment for $400M

Brookdale Senior Living (NYSE: BKD) has agreed to sell a majority stake in its home health, hospice and outpatient therapy service line. The Brentwood, Tennessee-based operator on Wednesday announced it entered into a partnership to sell an 80% stake in Brookdale Health Care Services (BHS) to Nashville-based health system HCA Healthcare for $400 million. Brookdale […]

Problem Solvers: Improving Virtual Tours to Sell Senior Living

The Covid-19 pandemic has created myriad problems for senior living providers. But these problems are not insurmountable, and companies across the industry are devising creative solutions. In this series, we’re surveying industry leaders to highlight these actionable solutions. For this edition, we asked leaders with Brookdale Senior Living (NYSE: BKD), Senior Lifestyle Corp., Kendal Corp. […]

Omega CEO: Brookdale Portfolio ‘Well-Equipped’ For Post-Pandemic Growth, Performance

Omega Healthcare Investors (NYSE: OHI) sees long-term upside in its $510 million acquisition of 24 senior housing communities from Healthpeak Properties (NYSE: PEAK), operated by Brookdale Senior Living (NYSE: BKD). The Hunt Valley, Maryland-based health care real estate investment trust (REIT) believes the operator is poised to capitalize on pent-up demand for senior housing as […]

Healthpeak Sells 24-Building Brookdale Portfolio to Omega for $510M

Healthpeak Properties (NYSE: PEAK) continues to make progress on its portfolio realignment strategy. The Denver-based health care real investment trust (REIT) sold 24 senior housing communities to another REIT, Omega Healthcare Investors (NYSE: OHI), on January 20 for $510 million. Hunt Valley, Maryland-based Omega announced the deal in a press release in conjunction with its […]

Transactions & Financings: Brookdale Turns Over Operations of 4 Communities; JLL Completes $19M Sale

Brookdale Senior Living (NYSE: BKD) is making progress on its ongoing portfolio optimization initiative. The largest senior housing provider in the U.S. recently exited management arrangements on four communities in California. Dallas-based Pegasus Senior Living assumed management of two communities in suburban Sacramento, which were rebranded as Elk Grove Park, in Elk Grove; and Sterling […]

Why Brookdale, Belmont Village Top Sales Execs are Bullish on 2021

Sales and marketing staff were among the first in the senior living industry to feel the operational effects of the pandemic — and they will play a crucial role in ushering them out, too. With national senior living occupancy rates at a historic low, the work of sales and marketing teams is perhaps more important […]

Welltower Senior Housing Occupancy Falls to 75.3% Amid Pandemic’s Winter Resurgence

Numbers from real estate investment trust Welltower (NYSE: WELL) provide the latest evidence that high Covid-19 infection rates across the country are taking a toll on senior housing communities. Occupancy in the REIT’s senior housing operating (SHO) portfolio fell 220 basis points in the fourth quarter of 2020, to 76.2%, according to a business update […]