CareTrust Prunes Portfolio in Q3, With Eye Toward 2020 Growth

CareTrust REIT (Nasdaq: CTRE) has spent most of 2019 doing some “spring cleaning” of its portfolio of long-term care facilities — including its senior housing assets — and focused on restructuring its portfolio and transitioning operators in the third quarter with an eye toward future growth in 2020 and beyond. “After five years, a lot […]

Transactions & Financings: CareTrust’s Memory Care Expansion; SNH-Five Star Restructuring

CareTrust expands memory care portfolio with $12.5M California acquisition CareTrust REIT (Nasdaq: CTRE) added to its portfolio of memory care communities with the $12.5 million acquisition of Vista del Lago, a 42-unit/96-bed community in San Diego. The seller was Torrey Pines Development Group. The Cushman & Wakefield Senior Housing Capital Markets team of Vice Chairman […]

Ensign Names CFO for Pennant Group Spinoff

The Ensign Group (Nasdaq: ENSG) hired a new chief financial officer for its coming senior living, home health and hospice spinoff. The Mission Viejo, California-based owner and operator on Tuesday named Jennifer Freeman as CFO of The Pennant Group. She was previously in the same role at Cornerstone Healthcare, Ensign’s home health and hospice arm, […]

Ensign to Spin Off Senior Living, Home Health, Hospice Into New Company

The Ensign Group, Inc. (Nasdaq: ENSG) is separating its home health, hospice and nearly all of its senior living businesses into a separate publicly-traded company called The Pennant Group. After the spinoff is finalized, it’s expected that Pennant — which is itself currently a wholly owned subsidiary of Mission Viejo, California-based Ensign — will consist […]

Tracking CEO Compensation at Public Senior Living Companies in 2017

The top executives behind some of the largest publicly traded senior living owners and operators in the U.S. took home a pretty penny last year. In 2017, leaders at real estate investment trusts Ventas (NYSE: VTR), Welltower Inc. (NYSE: WELL), and HCP, Inc. (NYSE: HCP) earned the most in total compensation, a catch-all term that includes base […]

Transactions & Financings: $1 Billion REIT IPO, LTC Sells Portfolio to NHI

Strategic Student & Senior Housing Trust’s IPO Declared Effective by the SEC Maryland-based Strategic Student & Senior Housing Trust, Inc., a public non-traded real estate investment trust (REIT) sponsored by SmartStop Asset Management, LLC, announced that its registration statement pertaining to an initial public offering of about $1.1 billion in shares of common stock was […]

CareTrust REIT Had ‘Great Year’ Despite Some Tenant Turbulence

CareTrust REIT (Nasdaq: CTRE) had its best-ever year last year despite some operational woes with two of its smaller tenants. The San Clemente, California-based real estate investment trust (REIT) reported a normalized funds from operations (FFO) of $23.6 million, or 31 cents per share, which was roughly in line with analysts’ expectations for the fourth quarter of […]

Senior Housing Investments & Transactions: Sagora Senior Living, Senior Living Investment Brokerage

South Carolina Assisted Living Community Sells for $1.9 Million Dave Balow, Patrick Burke and Brad Clousing of Glen Ellyn, Illinois-based Senior Living Investment Brokerage handled the recent $1.9 million sale of The Magnolias of Santee in Santee, South Carolina. The 31-unit, 22,046-square-foot assisted living and memory care community was sold by an owner/operator looking to […]

Senior Housing Investments & Transactions: Civitas, CareTrust REIT

Summit Acquires Assisted Living and Memory Care Community for $13 Million Summit Healthcare REIT, Inc. announced that it acquired a 90-bed assisted living and memory care facility in Chandler, Arizona, for $13.4 million. The community will be leased to Compass Senior Living, a Eugene, Oregon-based operator who leases six other facilities owned by Summit. The […]

Senior Housing Investments & Transactions: CareTrust REIT, NHI

Texas Investors Buy $185 million SNF Portfolio Dallas businessmen Chuck Putnam and Donald Kivowitz have purchased a portfolio of 10 skilled nursing facilities (SNFs) in Maryland and Pennsylvania for $185 million. The portfolio includes approximately 1,297 beds total. The transaction was financed by a syndication led by Bank of Texas, an affiliate of BOK Financial […]