Five Star, Senior Housing Properties Trust Strike Major Lease Restructuring

Five Star Senior Living (Nasdaq: FVE) struck a comprehensive lease restructuring and ownership agreement with Senior Housing Properties Trust (Nasdaq: SNH), in a move aimed at immediately easing Five Star’s financial woes and restoring the provider to full health in the longer term. The deal will shift ownership of Newton, Massachusetts-based Five Star substantially to […]

Five Star Defers February Rent to SNH as Struggles Continue

Five Star Senior Living’s (Nasdaq: FVE) financial woes continue to pile up. The Newton, Massachusetts-based senior living operator and Senior Housing Properties Trust (NYSE: SNH) agreed to defer the minimum aggregate February rent Five Star owes SNH for properties it operates under a master lease between the two companies. The deal was unveiled in a […]

How Senior Living Dining is Adapting for Next-Generation Residents

As the oldest baby boomers begin their transition to senior living, they are bringing with them a greater education about food and drink. As a result, senior housing operators are adding flexibility to their dining programs to accommodate these changes. This flexibility was the focus of “New Dining Formats for the Next Generation of Senior […]

Five Star’s Future Still Shaky After Q4 Earnings

Five Star Senior Living (Nasdaq: FVE) acknowledged its continued financial challenges pose a threat to the company’s viability, even as the organization works to implement operational strategies to effect a turnaround. Five Star is also in discussions with its major real estate investment trust landlord, Senior Housing Properties Trust (NYSE: SNH), to potentially restructure. The […]

Senior Housing Properties Trust Weighing Five Star Restructuring

Senior Housing Properties Trust (NYSE: SNH) is weighing a litany of options for Five Star Senior Living (Nasdaq: FVE) in light of the operator’s ongoing financial and operational problems — including a possible adjustment to the two companies’ agreements. That was top of mind during the the Newton, Massachusetts-based  real estate investment trust’s (REIT) fourth-quarter […]

JD Power Bestows First Senior Living Certifications to 3 Five Star Communities

J.D. Power’s senior living certification program rollout now has its first successes. Three independent living and assisted living communities owned and operated by Newton, Massachusetts-based Five Star Senior Living (Nasdaq: FVE) became the first senior living communities in the U.S. to earn the coveted Power badge. The communities are Five Star Premier Residences of Hollywood, […]

Top Senior Housing Trends for 2019

Senior housing providers and other industry stakeholders may be feeling a sense of dread going into 2019. Occupancy is at a low point, labor expenses are surging amid sharp workforce challenges, new competition continues to pressure certain markets, construction costs are up and aging baby boomers are not yet entering communities in huge numbers. While […]

Former Five Star Senior Living COO Herzig Leaves Company

Former Five Star Senior Living (Nasdaq: FVE) COO Scott Herzig has left the company. Herzig’s employment with the Newton, Massachusetts-based senior living owner and operator ended on Dec. 12, according to an SEC disclosure filed Monday. Herzig ended his roughly 18-year tenure with the company as senior vice president of senior living operations, a position he assumed […]

Five Star Names Katherine Potter as New President, CEO

Five Star Senior Living (Nasdaq: FVE) has named a new president and CEO, and current company leader Bruce Mackey is preparing his exit. The Newton, Massachusetts-based senior living owner and operator has chosen Katherine Potter to take the reins on Jan. 1, one day after Mackey is set to retire from the company. Potter, 42, first […]

Five Star Weighs Options as Financial, Operational Challenges Mount

Five Star Senior Living (Nasdaq: FVE) is considering a wide range of options to help it weather ongoing operational and financial woes. The Newton, Massachusetts-based senior living provider needs to pursue a plan of action regarding projected cash needs for the year ahead, Five Star President and CEO Bruce Mackey said on a third-quarter earnings call […]