After eight months, Five Star Senior Living (Nasdaq: FVE) has a new COO. The Newton, Massachusetts-based senior living owner and operator hired Margaret Wigglesworth for the role. She will assume her duties effective August 12, according to a release announcing the hire. Five Star has been without a COO since Scott Herzig left the company […]
Five Star Senior Living
Senior Living Communities acquires South Carolina CCRC Senior Living Communities acquired Wildewood Downs, a 248-unit continuing care retirement community in Columbia, South Carolina, for $35 million. The community will be operated by a SLC affiliate. The acquisition was financed by a $32.7 million loan from National Health Investors (NYSE: NHI), and includes capital expenses for renovations. The loan will have a […]
Ventas invests $490M in Colony Capital refinancing, announces $800M research development pipeline Ventas (NYSE: VTR) announced four new developments, totaling $800 million in its university-based research and innovation business, all in partnership with Wexford Science & Technology (“Wexford”), the leading developer of university-focused real estate solutions. These investments are part of $1.5 billion research and […]
Former Five Star Senior Living (Nasdaq: FVE) CEO Bruce Mackey and COO Scott Herzig have launched a new senior living operating company called Sona Senior Living. Sona, which is headquartered in the Boston area, will initially focus on third-party management of senior living communities across the care continuum and throughout the U.S. While it hasn’t […]
With a major adjustment to its portfolio behind it, Five Star Senior Living (Nasdaq: FVE) is focused on getting back to good. The provider logged a $33.2 million net loss in the first quarter of 2019 but other metrics, such as occupancy and revenue, trended upward, and the company’s share price got a lift on […]
Five Star Senior Living (Nasdaq: FVE) is shaking up its executive ranks again, two days before releasing its Q1 2019 earnings report. The Newton, Massachusetts-based senior living owner and operator announced the appointment of Jeffrey C. Leer as Executive Vice President, Chief Financial Officer and Treasurer. Leer will assume his duties June 1. He succeeds […]
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 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 […]
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 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 […]
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