This was a tough year for the sector, judging by the most-read stories on Senior Housing News. Financial troubles dominated, with Enlivant’s default notice and related negotiations being the most-read story in the last 12 months. The bankruptcy filing of a large CCRC, the troubles at Anthology Senior Living’s parent company, and the closure of […]
New senior housing company Metta Senior Living has an initial portfolio of three former Enlivant properties and a plan to grow in the Southeast and beyond. The Winterville, Georgia-based senior living operator currently manages three communities, with more communities slated to be added in the fourth quarter of this year, according to Chief Operating Officer […]
Sabra Health Care REIT (Nasdaq: SRBA) saw continued recovery in its senior living portfolio with strength stemming from occupancy gains and independent living (IL) demand. With an annualized cash net operating income (NOI) opportunity across senior living managed assets of approximately $27 million, leadership highlighted the company’s continued recovery. Revenue per occupied room (RevPOR) in […]
This article available as part of your SHN+ membership Operator transitions have been making headlines over the last few weeks, with many of the handovers involving properties serving middle-market consumers in secondary markets. The recently announced transitions include: The backstories behind these transitions vary, but many of the communities involved are serving a similar consumer […]
Tutera Senior Living and Health Care is expanding its senior living footprint through acquisitions, including by picking up a 10-property portfolio previously operated by Enlivant. On Thursday, Tutera announced the company recently added the 10 senior living communities in Kansas, Iowa and Nebraska to its portfolio. The communities are former properties owned by Enlivant and […]
Sabra Healthcare REIT (Nasdaq: SRBA) now sees “significant upside” in the 11 communities that were previously part of its Enlivant joint-venture after transitioning the properties to a new operator earlier this year. Sabra transferred management of 11 assisted living and memory care communities to McLean, Virginia-based senior living operator Inspirit Senior Living. With historic occupancy […]
Senior living operator Enlivant is laying off 284 employees at its corporate support center in Chicago. The company made notice of the layoffs in a recent Illinois Worker Adjustment and Retraining Notification (WARN) Act notification. A representative for Enlivant on Thursday declined to comment on the record when reached by Senior Housing News. The WARN […]
Earlier this spring, I received a LinkedIn message related to the future of the TPG/Sabra Healthcare REIT (Nasdaq: SBRA) joint venture senior living portfolio, operated by Enlivant. The message was from a relative of a resident, sharing a letter stating that a new operator would soon be taking over. I eventually learned the future operator […]
For more than three decades, Watermark Retirement had never been replaced by a different management company. But times have changed. “We were replaced by Welltower on a few of our communities; but on the other hand, we’re being the replacer, going into some communities,” Watermark Chairman David Freshwater told me recently. Swapping management companies is […]
Sabra Health Care REIT (Nasdaq: SBRA) has fully exited its Enlivant joint-venture agreement with TPG as of May 1, according to CEO Rick Matros. A “double whammy” of the downturn in debt markets and the lingering effects of the Covid-19 pandemic affected the portfolio’s ability to be sold and helped lead to the exit, he […]
