Last month brought news that non-traded REIT Healthcare Trust would transition 20 senior living communities managed by Cedarhurst Senior Living to other operators. This portfolio change is part of a comprehensive effort that Cedarhurst is undertaking, which involves new strategies and operational practices shaped by the challenges and disruptions of the last two years. “We […]
The expansion of regional senior living providers has been an ongoing trend in 2021. Some of these companies are gaining so much scale, they are becoming “super regionals.” I’ve heard the term “super regional” increasingly this year, including at the recent Argentum conference. This chatter makes sense, as transactions in the last few months have […]
Brookdale Senior Living (NYSE: BKD) is taking further steps to restructure its outstanding debt. The Brentwood, Tennessee-based owner and operator of senior housing communities on Tuesday announced plans to offer up to $200 million in convertible senior notes, due on October 15, 2026. The notes are unsecured obligations of Brookdale, and interest will be paid […]
Healthpeak Properties (NYSE: PEAK) has more credit at its disposal. The Denver-based real estate investment trust (REIT) announced on Monday that it closed on a new unsecured revolving credit facility, with commitments totaling $3 billion. The facility reduces Healthpeak’s borrowing costs and extends the maturity date to Jan. 30, 2026. Furthermore, the REIT controls two […]
Five Star Senior Living (Nasdaq: FVE) this week offered a business update, covering its transition of 108 communities to new operators, as well as occupancy improvements for the communities it will continue to operate for Diversified Healthcare Trust (Nasdaq: DHC). Occupancy across the Diversified portfolio ended August at 74.7%, a 100 basis point improvement over […]
Diversified Healthcare Trust (Nasdaq: DHC) is nearing completion of its plan to transition 108 communities managed by Five Star Senior Living (Nasdaq: FVE) by the end of 2021. The Newton, Massachusetts-based real estate investment trust (REIT) on Tuesday announced it entered into a new management agreement with Cedarhurst Senior Living for seven assisted living facilities […]
In the Pipeline is brought to you by the Senior Housing News Architecture & Design Awards, an annual competition that recognizes cutting-edge design, excellence, and innovation in senior living. Submissions are currently open. Construction: Complete Erickson Holds Grand Opening for $300M CCRC in Florida Erickson Senior Living has held a grand opening ceremony and ceremonial […]
As Covid-related distress has hit senior living, particularly for mom-and-pop operators, some providers with regional portfolios are seizing the opportunity to expand in 2021 and beyond. While regional operators weren’t seen as a big driver of consolidation in previous years, some brokers now expect them to be a driving force in acquisitions this year. In […]
Last year, the Covid-19 pandemic threw a wrench in the best-laid plans of senior living operators across the United States. But the providers to watch in 2021 all continued to innovate and devise interesting strategies for the future, even while responding to the public health crisis. Going into 2021, the providers on this list are […]
About 60 days ago, leaders at Cedarhurst Senior Living came to a realization, causing them to shift from crisis response to restarting enterprise growth on a foundation of operational stability. “We need to embrace the world we’re in and figure out how to operate within it, or fall behind and lose opportunities,” CFO Stephen Wertman […]
