Senior housing and care operators are “working constantly and creatively” to overcome staffing challenges, but workforce issues are constraining occupancy growth, according to Wendy Simpson, CEO of LTC Properties (NYSE: LTC). “We’ve had some of our assisted living operators say they closed a floor and are not opening up the floor until they can get […]
LTC Properties
The relationship between LTC Properties (NYSE: LTC) and two of its bankrupt tenants has come to an end. The Westlake Village, California-based real estate investment trust (REIT) announced it reached settlement agreements with Senior Care Centers and Abri Health Services. LTC agreed to pay the skilled nursing providers $3.25 million in exchange for their assistance […]
Having transitioned out of 50-plus communities in two portfolios over roughly the last year, Senior Lifestyle Corp. is now rebuilding scale while continuing to navigate the challenges of Covid-19. The Chicago-based operator — which currently manages around 120 communities — is making progress on both those fronts, CEO Jon DeLuca and Vice Chairman/Chief Investment Officer […]
Juniper Communities is in expansion mode, entering the Texas market for the first time while also taking over management of communities in Pennsylvania and New Jersey. The moves add 404 assisted living units, 46 memory care units, 140 independent living units, and 156 skilled nursing beds to the company’s portfolio, which now totals 28 communities […]
This article is an exclusive feature available as a part of your subscription to SHN + Senior housing developers and operators are encouraged by occupancy gains in recent months. But those stakeholders are still taking a cautious approach to underwriting development and lease-up pro formas for newly opened communities and ground-up projects, and in some […]
LTC Properties (NYSE: LTC) has nearly exited its relationship with Senior Lifestyle Corp., expanding its partnerships with Juniper Communities and Oxford Senior Living in the process. LTC — a real estate investment trust (REIT) based in Westlake Village, California — decided before the Covid-19 pandemic to transition its portfolio operated by Chicago-based Senior Lifestyle, one […]
Recent data showed senior living occupancy remained flat in the second quarter of 2021, prompting renewed doubts about the pace of Covid-19 recovery. With this as the backdrop, providers are hoping that Q3 2021 will result in a seasonal occupancy uptick, and then some — but that result is uncertain. There is reason for some […]
When Wendy Simpson, CEO of LTC Properties (NYSE: LTC), heard a colleague at a different real estate investment trust predict a two-year timeline to senior living occupancy recovery, she thought, “That’s just silly.” But, she no longer thinks so. “I think later in the year, we should be able to get a better trend, but […]
Brookdale Senior Living (NYSE: BKD) opted to extend its lease with real estate investment trust LTC Properties (NYSE: LTC) through Dec. 31, 2021. Brookdale holds an option to extend the lease through April 30, 2022. Rent terms under the master lease did not change. Westlake, California-based LTC also extended a $4 million capital commitment to […]
LTC Properties (NYSE: LTC) granted roughly $3.7 million in deferred, abated and reduced rent in the first four months of this year. The Westlake Village, California-based real estate investment trust (REIT) also has agreed to provide rent deferrals and abatements of up to $721,000 for both May and June of this year. In Dec. 2020, […]
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