Executives with Ventas Inc. (NYSE: VTR) are reducing their salaries and the Chicago-based firm is cutting about a quarter of its corporate staff as part of an effort to maintain financial strength in the midst of the Covid-19 pandemic. The real estate investment trust (REIT) is one of the largest owners of senior housing properties […]
The Covid-19 pandemic has sparked what one analyst is calling a “Great Reset” — and the result has been topsy-turvy for the senior living industry. Investor sentiment may be shifting against senior housing in favor of the once-shunned skilled nursing sector. Related, the pandemic is helping some senior housing owners that have been working for […]
Welltower sells Florida assisted living facility for $56M Welltower (NYSE: WELL) sold Aston Gardens Assisted Living in Parkland, Florida for $55.7 million, The Real Deal Miami reports. The buyer was Kayne Anderson Capital Advisors. the property is operated by Discovery Senior Living. The property sold for $78 million in 2015. The latest sale marks a […]
Healthpeak Properties’ (NYSE: PEAK) announced in February that its senior housing portfolio was in “recovery” after two years of restructuring assets and operators. Then the coronavirus pandemic swept across the U.S., and Healthpeak CEO Tom Herzog did not mince words about its effect on the Irvine, California-based health care real estate trust. “Of all of […]
Publicly traded senior housing owners and operators begin reporting their Q1 2020 earnings next week, but these financial results will be essentially irrelevant due to Covid-19. Analysts, investors and senior living professionals hope that the earnings reports and comments from executive teams will provide a clearer sense of Covid-19’s effects on the industry and what […]
Real estate investment trusts (REITs) with significant exposure to senior housing could be facing a “sharp, prolonged deterioration in credit metrics,” rating agency Moody’s stated in a report issued Wednesday. In particular, these REITs run the risk of rent deferrals and other types of restructurings if shelter in place restrictions related to the coronavirus pandemic […]
Compared to assisted living and memory care, independent living and active adult communities can be harder to secure during the coronavirus pandemic. The better health, mobility and independent nature of their census can make social distancing a bigger ask, and the leaner staffing necessary to operate these communities means residents have less support in the […]
Capital Senior Living (NYSE: CSU) took another step toward stabilizing its balance sheet. Capital reached rent forbearance agreements with two of its real estate investment trust (REIT) landlords — Toledo, Ohio-based Welltower (NYSE: WELL) and Chicago-based Ventas (NYSE: VTR), the Dallas-based operator announced in an SEC Form 8-K filing on Monday. Additionally, Capital agreed to […]
Senior housing-related stocks fell sharply on Thursday amid a dramatic market plunge tied to coronavirus fears. The Dow Jones Industrial Average was down 10% at market close, in the worst drop for the index since “Black Monday” in 1987. The Nasdaq composite was down 9.4% at the close. Several senior housing-related stocks fell even more […]
The rapid spread of Covid-19 is putting new communities at risk every day — and providers across the country should prepare for an outbreak near them sooner rather than later. As of Wednesday, almost 53% of roughly 33,000 U.S. senior housing and care communities in the U.S. are located in or adjacent to a county […]