Moody’s: Bond Defaults Loom As Covid-19 Hits Senior Housing Hard

No other U.S. public finance sector has been hurt more by the Covid-19 pandemic than senior housing and care, according to Moody’s Investor Service. “While many hospitals, entities with bonds secured by taxes frozen during the economic shutdown, and other types of enterprises are seeing some pinch, no other sector has seen the singular confluence […]

Senior Housing REITs At Risk Of ‘Sharp, Prolonged’ Credit Metric Deterioration

Real estate investment trusts (REITs) with significant exposure to senior housing could be facing a “sharp, prolonged deterioration in credit metrics,” rating agency Moody’s stated in a report issued Wednesday. In particular, these REITs run the risk of rent deferrals and other types of restructurings if shelter in place restrictions related to the coronavirus pandemic […]

Greystone Brings CLOs to Senior Housing with $300 Million Fund

After years of being out of favor following the Great Recession, collateralized loan obligations (CLOs) — pools of below-investment grade loans sold in pieces to investors — are growing in popularity. Now, New York City-based real estate lender Greystone has closed on a $300 million CLO backed by bridge loans on senior housing and care assets. It’s […]