Transactions & Financings: Sabra Closes $350M Debt Offering; SHN’s $58M Portfolio Sale

Sabra completes $350M debt offering Sabra Health Care REIT (Nasdaq: SBRA) completed an underwritten public offering of $350 million worth of 3.9% senior notes due in 2029. The Irvine, California-based health care real estate investment trust filed a Form 8-K with the Securities and Exchange Commission on October 7, announcing the closing. Proceeds will be […]

Sabra Seeks New JV Partner for Enlivant Portfolio

Irvine, California-based Sabra Health Care REIT (Nasdaq: SBRA) is on the hunt for an investor to take a minority stake in a portfolio of 170 senior living communities operated by Chicago-based Enlivant. Sabra purchased a 49% equity stake in the portfolio in 2017, in a deal that valued the overall portfolio at $1.2 billion. The […]

LTC’s Simpson: Private Equity Driving Unreasonable Valuations, Thrive in Default

A persistent pricing disconnect in the senior housing M&A market is limiting acquisitions for LTC Properties (NYSE: LTC), CEO Wendy Simpson said Thursday in announcing Q1 2019 earnings. The Westlake Village, California-based real estate investment trust (REIT) is taking advantage of current market dynamics to sell some properties and also has been trying to resolve […]

Sabra Evaluating $1 Billion Acquisition Pipeline But Prices Still ‘Unreasonable’

Following an eventful 2018 that included the bankruptcy of a major skilled nursing tenant, Sabra Health Care REIT (Nasdaq: SBRA) anticipates a quieter 2019 that is focused on fundamentals. Specifically, the Irvine, California-based real estate investment trust will be pushing to de-lever the balance sheet and secure acquisitions, CEO Rick Matros said Monday on a […]

LTC Properties Tenant Senior Care Centers Files for Chapter 11

A senior housing and long-term care operator that has managed properties for two sizable real estate investment trusts (REITs) is filing for bankruptcy. Senior Care Centers is filing for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Northern District of Texas, the company announced Tuesday. The move will allow the Dallas-based company to tackle […]

NHI Reduces Rent for Holiday Retirement, Sabra Favors Different Approach

Some of the nation’s largest senior housing landlords are changing or reconsidering their leases with independent living giant Holiday Retirement. National Health Investors (NYSE: NHI) has inked a new lease agreement with tenant Holiday in a move meant to position the operator for long-term success, the Mufreesboro, Tennessee-based real estate investment trust (REIT) announced Tuesday, […]

Tracking CEO Compensation at Public Senior Living Companies in 2017

The top executives behind some of the largest publicly traded senior living owners and operators in the U.S. took home a pretty penny last year. In 2017, leaders at real estate investment trusts Ventas (NYSE: VTR), Welltower Inc. (NYSE: WELL), and HCP, Inc. (NYSE: HCP) earned the most in total compensation, a catch-all term that includes base […]

Sabra Plans to Pounce Amid ‘Unrealistic’ Senior Housing Prices

Private equity firms are offering and sometimes paying unrealistic prices for senior housing properties—and that practice is creating opportunities for the senior housing buyers whose bids were originally too low. That’s according to Sabra Health Care REIT (Nasdaq: SBRA) Chairman and CEO Rick Matros, who touched on the topic Thursday during a call with analysts and investors. […]