LTC Properties (NYSE: LTC) gave partial rent deferrals to six of its tenants in April as the Covid-19 pandemic dragged down occupancy and drove up expenses across the board. The deferrals amounted to $772,000, or about 7% of the total rent the company expected to collect in April. The picture has improved somewhat in the […]
LTC Properties
The senior living industry may come out of the new pandemic era with an even stronger position than before — but in the meantime, operators are taking a hit on net operating income and are relying on support from their capital partners and even their competitors to weather the storm. For example, McMinnville, Oregon-based provider […]
Bellwether Enterprise provides $36.3M financing for Kentucky Development Bellwether Enterprise Real Estate Capital Executive Vice President John Powell originated a $36.3 million permanent loan through Fannie Mae’s seniors housing program for the refinancing of Legacy Reserve at Fritz Farm, a senior housing community in Lexington, Kentucky featuring 144 independent living, 33 assisted living and 15 […]
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 […]
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With some of its more troubled senior housing tenants on better footing now than in the past, LTC Properties (NYSE: LTC) plans to spend 2020 looking for new opportunities — but current market conditions are all but certain to complicate that goal. The challenge is that, in many markets throughout the U.S., pricing for new […]
Pam Kessler joined LTC Properties (NYSE: LTC) during a time of crisis for the real estate investment trust and the whole senior housing and care industry. After that trial by fire, Kessler helped lead the REIT through a long period of industry stability — but that has ended. Having started in accounting with Ernst & […]
HJ Sims closes $96M financing package for Asbury Communities HJ Sims closed on a $96.12 million bond refinancing for Asbury Communities’ senior housing communities in Pennsylvania: Bethany Village in Mechanicsburg; and Springhill in Erie. Sims assisted Asbury the communities’ outstanding Series 2010 Bonds on their first optional redemption date of January 1. Sims successfully priced […]
LTC Properties (NYSE: LTC) made progress on retooling its senior living portfolio in the third quarter of 2019, but ongoing issues among some of its other tenants continue to make life complicated for the company. The Westlake, California-based real estate investment trust continues to monitor previously troubled tenants, such as Lake Oswego, Oregon-based Anthem Memory […]
LTC Properties (NYSE: LTC) spent the first half of 2019 addressing underperforming operator partnerships and now believes it has set up its portfolio for improved performance in the year’s final months. Notably, the Westlake, California-based health care real estate trust completed the transition of six properties previously operated by Thrive Senior Living, and LTC is […]
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