Senior Housing Operators Must Increase CapEx or Get Left Behind

The steady stream of new senior housing inventory coming online through the mid-2020s has put pressure on operators to maintain occupancy. It is also focusing owners and operators to face the fact that historical trends in CapEx spending need to change. Operators have been getting away with penciling in smaller allocations from their annual budgets […]

Sabra Seeks New JV Partner for Enlivant Portfolio

Irvine, California-based Sabra Health Care REIT (Nasdaq: SBRA) is on the hunt for an investor to take a minority stake in a portfolio of 170 senior living communities operated by Chicago-based Enlivant. Sabra purchased a 49% equity stake in the portfolio in 2017, in a deal that valued the overall portfolio at $1.2 billion. The […]

Welltower Posts Strong Senior Housing Numbers Amid Operator Reshuffles

Welltower’s (NYSE: WELL) senior housing portfolio performance continued to pace strong earnings in the second quarter of 2019 — a period marked by a flurry of transactions. Leadership of the Toledo, Ohio-based real estate investment trust put those deals in greater context during Wednesday’s earnings call. They were approached by a buyer who offered attractive […]

Hard-Hit Memory Care Sector Faces Slow Road to Recovery

After a few brutal years for standalone memory care, supply pressures are easing and occupancy is ticking up. But a rebound will be gradual, as hard-hit companies in the space try to reset, and owners and operators glean lessons from this recent period of distress. Construction of freestanding memory care communities peaked in the fourth […]

Senior Living NOI Predicted to Dip in 2018

Real estate investment trusts (REITs) with senior housing operating (SHOP) portfolios will probably see a decline in their SHOP net operating incomes this year, sector experts believe. Specifically, SHOP will likely see net operating income (NOI) decline 1% in 2018, according to Newport Beach, California-based real estate research firm Green Street Advisors. The dip will likely […]

Senior Living Rental Rates to Hold Steady Despite Occupancy Challenges

Senior housing occupancy is expected to get worse before it gets better, though rental rates are anticipated to remain steady through it all, according to market analysts at Green Street Advisors. In terms of market revenue per available foot (M-RevPAF)—a metric combining changes in rents with changes in occupancies—senior housing is anticipated to fare better […]

Senior Housing Penetration Predicted to Rise to 12.5% in 2025

Senior housing penetration rates are bound to increase over the next dozen years and there are ways providers can help speed up the process, according to experts. The current senior housing penetration rate stands at 11.7%, according to a newly released report from Newport Beach, California-based real estate research firm Green Street Advisors. In this case, […]

Welltower Bullish on Senior Housing JVs After Stellar Results

Welltower Inc. (NYSE: HCN) wants to expand its joint ventures with operating partners, to capture some of the financial upside from communities that are outperforming their local markets. But don’t expect the real estate investment trust (REIT) to partner with Brookdale Senior Living (NYSE: BKD) on these types of JVs, at least any time soon. […]

With Brookdale ‘In Teeth of the Storm,’ Takeout Chatter Continues

Following bleak fourth quarter earnings, executives at the largest senior living provider in the nation are predicting a gloomy 2017. A rumored takeout by a private equity buyer was the backdrop for the earnings, which likely increased pressure on Brookdale Senior Living (NYSE: BKD) to get a deal done. Brookdale leaders on Tuesday cited a number of factors […]

Assisted Living Slumps, Independent Living Thrives for HCP

Echoing rival Ventas Inc. (NYSE: VTR), real estate investment trust HCP Inc. (NYSE: HCP) revealed on Monday that it’s feeling the heat from new senior living supply. New construction is particularly impacting the company’s assisted living portfolio, HCP President Justin Hutchens said during the company’s fourth-quarter 2016 earnings call on Monday.  The Irvine, California-based health care […]