While senior living capital expenditure allocations were gradually increasing before the Covid-19 pandemic, some leaders were concerned that investment in buildings still was insufficient and leading to an impending crisis related to obsolescent properties. Today, issues with buildings pre-pandemic have only been exacerbated by the virus, making CapEx investment more vital, even as such spending […]
Executives with LTC Properties (NYSE: LTC) are seeking to further reduce the company’s Senior Lifestyle holdings this year, while at the same time building new operator relationships and growing existing ones. The Westlake Village, California-based real estate investment trust (REIT) yesterday disclosed it had transitioned 11 of its 23 assisted living communities leased to Senior […]
LTC Properties (NYSE: LTC) has transitioned 11 assisted living communities leased to Senior Lifestyle to other operators. The Westlake Village, California-based real estate investment trust (REIT) disclosed Thursday in its fourth-quarter earnings release that it had changed the leases on 11 properties in Wisconsin, Ohio, and Illinois, going from Senior Lifestyle to two other operators. […]
LTC Properties (NYSE: LTC) is offering a reduction on 2021 rent escalators for its operators, the company announced Thursday. The Westlake Village, California-based health care real estate investment trust (REIT) plans to reduce operators’ 2021 rent escalators by 50% in the form of a one-time rent credit. LTC expects the escalation reduction will have an […]
Covid-19 is one of the driving factors behind LTC Properties’ (NYSE: LTC) new turnkey approach to capital expenditures, but leaders with the real estate investment trust anticipate that the program will continue well after the pandemic is over and will have lasting benefits. Particularly, they foresee value in terms of future infection control and making […]
Real estate investment trust LTC Properties (NYSE: LTC) is trying to think and act “outside the REIT box” as Covid-19 continues to pressure its operators, with efforts such as a Smart Design initiative to modernize communities. Meanwhile, the Westlake Village, California-based company continues to work through challenges with some tenants, notably Senior Lifestyle. In the […]
A REIT is a REIT is a REIT, right? Not exactly. California-based LTC is a health care REIT (real estate investment trust) of about $2 billion investing in about 180 health care properties, half of which are senior housing properties. And while new co-presidents Pam Kessler and Clint Malin plan to continue the REIT’s mission […]
Real estate investment trust LTC Properties (NYSE: LTC) collected 92% of rent due in the second quarter of 2020, with most of the shortfall attributed to buildings operated by Senior Lifestyle Corp. Westlake Village, California-based LTC wrote off $17.7 million in straight-line rent receivable and lease incentive balances related to an affiliate of Senior Lifestyle, […]
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 […]
LTC Properties (NYSE: LTC) is making changes to its leadership team. The Westlake Village, California-based health care real estate trust (REIT) named CFO Pam Kessler and Chief Investment Officer Clint Malin co-presidents on Monday. LTC’s former president, Wendy Simpson, will remain as CEO and chairwoman. Both Kessler and Malin have been with LTC for some […]
