NHI Continues to Defer Bickford Rent, Occupancy Decreases Marginal

National Health Investors’ (NYSE: NHI) deferred rent total from Bickford Senior Living continues to grow. NHI announced on Thursday it agreed to defer up to $5 million in April and May rent due from Bickford, which operates 47 communities for the Murfreesboro, Tennessee-based health care real estate investment trust (REIT). Previously, NHI deferred $5.85 million […]

3 Takeaways from Healthpeak’s Exit For The Future Of Senior Housing

Last week, Discovery Senior Living announced that Hilary Bullard — formerly VP of senior housing asset management with Healthpeak (NYSE: PEAK) — will lead the new Morada brand. Discovery is launching Morada with 16 communities recently acquired from Healthpeak. The Bullard hire and Morada’s launch are among many news items that have been generated from […]

NHI Defers $3.75M in Q1 2020 Rent from Bickford; SLC Posts Occupancy Gains

National Health Investors (NYSE: NHI) is deferring more rent from Bickford Senior Living. Among NHI’s other largest operators, Holiday Retirement continued to see occupancy decline between January and February, but Senior Living Communities gained census for the second straight month, the Murfreesboro, Tennessee-based real estate investment trust (REIT) announced Monday. NHI agreed to defer $3 […]

NHI CEO Hopeful Occupancy Losses Near Bottom After Headwinds Continued in Q4

The fourth quarter of 2020 brought more disruptions for National Health Investors’ (NYSE: NHI) senior housing tenants, but the company’s leaders are cautiously optimistic that better months are ahead. Recent positive trends in sales leads and vaccination rates, coupled with the prospect of more federal support for senior living providers this year, have given the […]

Transactions & Financings: PGIM’s $222M Financing for Aegis; Healthpeak Prices $1.45B in Notes

Earlier this month, Aegis Living and its joint venture partner, Blue Moon Capital Partners, acquired 10 assisted living and memory care communities from Healthpeak Properties (NYSE: PEAK) for about $350 million. The deal was facilitated in part by a $222 million Fannie Mae credit facility arranged by PGIM Real Estate. The 10-year interest-only loan is […]

BMO Capital Markets: Senior Housing Faces ‘Elongated Recovery’ Through 2025

Senior housing’s post-coronavirus recovery may take longer than some expect, with cash flows and occupancy not returning to pre-pandemic levels until 2025. That is according to a new report on the sector from BMO Capital Markets (NYSE: BMO). The Toronto-based investment bank and financial services firm, using proprietary modeling, studied historic market net absorption trends […]

Lenders, REITs See Ongoing Transformation and Uncertainty in Senior Housing

Occupancy and expense pressures related to Covid-19 will continue to adversely affect senior housing investment in the coming year, and are even tempering refinancing opportunities. And the pandemic will force more smaller owners and operators to exit the sector, frustrated by the operational intensiveness of the product type, compressed net operating income (NOI) and tighter […]

Transactions & Financings: Capital Senior Living Sells Ohio Community; NHI’s $22M Development Loan

Sales and operator transitions Capital Senior Living completes $18M sale of Ohio community Capital Senior Living (NYSE: CSU) completed the sale of a senior living community in Canton, Ohio. The sale price was $18 million, and provided $6.4 million in net cash proceeds to the operator. Additionally, Capital Senior Living was retained by the new […]

REIT Leaders Say Senior Living Must Start To Evolve Faster

The details of what a post-coronavirus senior living landscape resembles remain cloudy, but the pandemic laid bare the need for the space to evolve faster than it has been. This is according to executives from real estate investment trusts National Health Investors (NYSE: NHI), Ventas (NYSE: VTR), and ReNew REIT, who shared their industry prognoses […]