LTC Plans Transitions, Possible Sales for 35-Community Portfolio After Brookdale Declines Lease Renewal

Brookdale Senior Living (NYSE: BKD) has elected not to renew a lease on its portfolio of 35 properties with LTC Properties (NYSE: LTC), appearing to end collaboration between the two companies for now. The Brentwood, Tennessee-based operator chose not to renew its lease with LTC, the Westlake Village, California real estate investment trust (REIT) announced […]

LTC Operators Gain Stability, But CEO Sees ‘Bumpy Road Ahead’ for Occupancy

LTC Properties (NYSE: LTC) management expects the company’s operating partners will make progress on occupancy and expenses in 2023, but the rate of recovery in the year ahead remains uncertain. Part of the reason why is that occupancy increases coming out of the pandemic “have not been linear,” LTC Properties Chairman and CEO Wendy Simpson […]

LTC Properties Ramps Up Investments, Leaders ‘Prepared’ for Possible Brookdale Sale

LTC Properties (NYSE: LTC) is currently engaged in its most active year of investments in seven years, and leaders with the company are not done growing yet. The company has invested over $170 million in 2022, representing the highest level of investment since 2015, executives from the Westlake, California-based real estate investment trust (REIT) noted […]

Welltower CEO’s Disappointment — and Optimism — Show Need for Senior Living Mindset Shift

Over the past two weeks, executives of publicly traded senior living companies shared quarterly earnings results. I was particularly struck by the words of Welltower (NYSE: WELL) CEO Shankh Mitra, who called the company’s second-quarter results “mediocre at best.” We’re used to CEOs taking pains to stress the positives in earnings, and there were positives […]

LTC Properties Transitions 12 Communities to ALG Senior, Ramps Up Investments

LTC Properties (NYSE: LTC) has transitioned 12 senior living communities to operating partner ALG Senior as the company gears up to make more investments in 2022 than last year. Leaders with the Westlake Village, California-based real estate investment trust (REIT) said the the properties, which represent 625 private-pay units, were formerly operated by a company […]

LTC Properties Works Through Tenant Troubles, Seeks ‘Return to Growth’ in 2022

Despite the industry-wide distress and the potential for new hurdles in the road to recovery, LTC Properties (NYSE:LTC) Chairman and CEO Wendy Simpson believes that several factors – recent rent growth, a drop in agency staffing, and “solid” long-term demographic growth – point to a positive long-term outlook in senior living. “I believe that we […]

Transactions & Financings: Front Porch, Covia Merger Complete; Invesque Closes $75M in Sales

Transactions Front Porch, Covia Communities Complete Merger Front Porch announced that its merger with Covia Communities became effective on April 1. The merger, which was announced in 2021, has a footprint that includes about 7,500 residents in 19 senior living communities located in four states. The new organization will operate under the Front Porch name […]

LTC Properties CEO: Labor Challenges Still Putting Damper on Occupancy Gains

With a senior housing recovery underway, LTC Properties (NYSE: LTC) Chairman and CEO Wendy Simpson is cautiously optimistic about the road ahead – but staffing challenges continue to weigh on the company’s operating partners in the short term.  In the third quarter of 2021, Simpson said that workforce issues were constraining occupancy growth. Those conditions […]