The Pennant Group (Nasdaq: PNTG) gave itself more financial flexibility a year into the coronavirus pandemic. The Eagle, Idaho-based company amended its revolving credit facility to $150 million, of which only $18.3 million was drawn as of February 22. Coupled with strong cash flow, expands Pennant’s ability to opportunistically target senior housing, home health and […]
Lument
McFarlin Group is looking beyond the U.S. for senior housing investors. The Dallas-based fully integrated senior housing firm became a sponsor of Private Wealth Global, an investment platform focused on core-plus and value-add opportunities in the U.S. and Europe, particularly multifamily and health care. The move gives McFarlin access to investors in South America and […]
One month into 2021, senior housing occupancy sits at all-time low levels, and it likely will take a year or more for census to recover to pre-pandemic levels. That’s the take of three industry leaders who participated in the January 29 webinar on the financial outlook for senior housing in 2021, hosted by Senior Housing […]
More senior housing owners plan to sell assets in 2021 compared to recent years, which is likely an indication of the steep toll that Covid-19 has taken on the industry. And as smaller players head for the exits, regional operators are expected to step up as buyers. About 600 subscribers responded to Senior Housing News’ […]
Sales and operator transitions Elevation Financial Group acquires Massachusetts assisted living community for $4M Elevation Financial Group acquired Wingate Residences at Brewster Place, an assisted living facility in Brewster, Massachusetts. The purchase price was $4 million and facilitated through Elevation Real Property Fund VII. The community ceased operations in 2019. Elevation plans to reposition the […]
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Three big names in senior housing finance — Hunt Real Estate Capital, Lancaster Pollard and RED Capital Group — now are unified under a single brand name, Lument. The three firms were acquired individually by ORIX USA, a division of international financial services group ORIX Corporation. ORIX took full ownership of RED in 2016; acquired […]