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
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 […]
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 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 […]
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 […]
One year ago, vaccine clinics were just getting underway in senior living communities, raising hopes for a better year ahead after the devastating toll exacted by Covid-19 in 2020. While Covid-19 vaccines have been a gamechanger for senior living providers, the quotes below reflect that 2021 presented plenty of daunting challenges, including unprecedented labor pressures. […]
A 13-property senior living portfolio is changing hands, thanks in part to $60 million in financing from LTC Properties (NYSE: LTC). “On the heels of our recent announcement of $46 million in investments through a variety of loan vehicles, this structured finance investment is another example of our ability to provide operators with the financing […]
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 […]
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 […]
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