CareTrust REIT (NYSE: CTRE) had an active investment period in the second quarter of 2023, particularly on the skilled nursing side — but the company is still seeing a wider than desired bid-ask spread in senior living pricing, according to management. On the whole, the real estate investment trust (REIT) reported $173 million of new […]
CareTrust REIT
Financings MassDevelopment Issues $129M Bond For Middle-Market Community MassDevelopment announced it issued a $129 million tax-exempt bond on behalf of 2Life Opus Newton for the development of a senior living community aimed at serving the middle market. The community – run by 2Life Opus, an affiliate of 2 Life Communities – will be a 174-unit […]
While labor challenges have plagued senior living operators more severely during the Covid-19 pandemic, there could be light at the end of the tunnel for some as positives emerge. While staffing still makes up the largest part of the company’s budget, labor pressures are beginning to ease due to reduced agency staffing costs and overtime […]
By Amy Stulick CareTrust REIT (NYSE: CTRE) on Monday announced a change in leadership, with James Callister stepping into the role as chief investment officer at the end of the year. Current Chief Investment Officer Mark Lamb is stepping down to pursue entrepreneurial opportunities, the company shared in its news release. Callister, who currently serves […]
Real estate investment trust CareTrust (Nasdaq: CTRE) has outlined 32 properties it marked for sale or repurposing — and the “vast majority” of them are senior housing, according to the company’s top executive. “We have a portfolio of skilled nursing facilities that we are selling, and then the rest are all senior housing,” CEO David […]
CareTrust gets new CEO amid rumors of sale CareTrust (Nasdaq: CTRE) appointed former president and COO David Sedgewick to be its new CEO. Before joining the San Clemente, California-based real estate investment trust (REIT), Sedgwick held leadership positions at the Ensign Group (Nasdaq: ENSG), CareTrust’s largest tenant. CareTrust itself was formed in a spin-off from […]
CareTrust REIT (Nasdaq: CTRE) is reportedly examining a range of strategic options that might include a sale of the company. The San Clemente, California-based real estate investment trust (REIT) has engaged an advisor to explore interest in a potential sale, including from other senior housing companies or real estate investment firms, according to a report […]
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 […]
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Senior housing’s post-coronavirus recovery may take longer than some expect, with cash flows and occupancy not returning to pre-pandemic levels until 2025. That is according to a new report on the sector from BMO Capital Markets (NYSE: BMO). The Toronto-based investment bank and financial services firm, using proprietary modeling, studied historic market net absorption trends […]