As wildfires burned millions of acres on the West Coast, senior living providers in the region grappled with another problem in addition to the pandemic: thick smoke and poor air quality. Last week, countless people along the West Coast woke up to “apocalyptic” orange and red skies as historic wildfires burned millions of acres of […]
March 17 was the day everything changed for Brookdale Senior Living (NYSE: BKD). In the months leading up to that day, President and CEO Cindy Baier had watched the novel coronavirus from afar as outbreaks spiked outside the U.S. She thought it might hit the provider like a severe flu season, causing days-long community lockdowns […]
Brookdale Senior Living (NYSE: BKD) made another move to shore up its financial position during the coronavirus pandemic. The Brentwood, Tennessee-based owner and operator on Thursday announced it obtained a 10-year, $221 million refinancing package for the majority of its outstanding 2020 and 2021 debt maturities. The refinancing was provided by Newmark Knight Frank (Nasdaq: […]
One thing is certain as the coronavirus pandemic enters its sixth month in the U.S.: Covid-19 is not going away. “We are going to have to live with Covid-19 in the world,” Brookdale Senior Living (NYSE: BKD) CEO Cindy Baier told Senior Housing News. And, in many regards, the senior living industry is in fact […]
Brookdale terminates $250M credit facility; refinances assets Brookdale Senior Living (NYSE: BKD) secured $267 million of non-recourse mortgage debt and terminated its $250 million revolving credit facility. The debt was obtained from Capital One, through Freddie Mac’s Capital Markets Execution Program. The financing includes $191 million of 2.89% fixed rate notes and $76 million of […]
Brookdale Senior Living (NYSE: BKD) Chief Information Officer Chris Bayham has left the company after one year. Bayham is joining XSOLIS, a health care technology firm based in Nashville, Tennessee, as chief operating officer. He will be responsible for strategic planning and operational execution across XSOLIS’ technology and service lines. Founded in 2013 as a […]
While Brookdale Senior Living’s (NYSE: BKD) occupancy and revenue have dipped substantially since the Covid-19 pandemic began, several recent moves have helped put it on firmer financial footing. The Brentwood, Tennessee-based company’s average occupancy rate hit 76.6% at the end of July subsequent to shedding 430 basis points in the second quarter of 2020, sequentially. […]
Ventas (NYSE: VTR) and Brookdale Senior Living (NYSE: BKD) announced a revised master lease agreement Monday in which Brentwood, Tennessee-based operator Brookdale receives up to $500 million in rent reduction over the next five years. Ventas, a Chicago-based real estate investment trust (REIT), gains a potential equity stake in Brookdale. This agreement is designed to […]
Senior living providers — like many businesses across the United States — have been responding to the Black Lives Matter movement with a variety of messages and actions. To get a sense of how providers are responding, I spoke with several CEOs and corresponded with many of the largest for-profit and nonprofit organizations in the […]
Covid-19 has disrupted senior living providers’ balance sheets, and it’s clear that the pandemic will have lingering effects — but some companies are seeking to limit the pain and believe they can avoid permanent margin compression. A similar story has played out in U.S. senior living companies since March: as communities went on lockdown to […]