New senior housing company Metta Senior Living has an initial portfolio of three former Enlivant properties and a plan to grow in the Southeast and beyond. The Winterville, Georgia-based senior living operator currently manages three communities, with more communities slated to be added in the fourth quarter of this year, according to Chief Operating Officer […]
Sabra Health Care REIT
Sabra Health Care REIT (Nasdaq: SRBA) saw continued recovery in its senior living portfolio with strength stemming from occupancy gains and independent living (IL) demand. With an annualized cash net operating income (NOI) opportunity across senior living managed assets of approximately $27 million, leadership highlighted the company’s continued recovery. Revenue per occupied room (RevPOR) in […]
This article is part of your SHN+ subscription During last week’s Q2 2023 earnings call, Brookdale Senior Living (NYSE: BKD) CEO Cindy Baier characterized the company’s focus on higher-acuity settings as a competitive differentiator. “Our diverse portfolio of communities, with a higher mix of assisted living and memory care, sets us apart from the industry, […]
Sabra Healthcare REIT (Nasdaq: SRBA) now sees “significant upside” in the 11 communities that were previously part of its Enlivant joint-venture after transitioning the properties to a new operator earlier this year. Sabra transferred management of 11 assisted living and memory care communities to McLean, Virginia-based senior living operator Inspirit Senior Living. With historic occupancy […]
Earlier this spring, I received a LinkedIn message related to the future of the TPG/Sabra Healthcare REIT (Nasdaq: SBRA) joint venture senior living portfolio, operated by Enlivant. The message was from a relative of a resident, sharing a letter stating that a new operator would soon be taking over. I eventually learned the future operator […]
Sabra Health Care REIT (Nasdaq: SBRA) has fully exited its Enlivant joint-venture agreement with TPG as of May 1, according to CEO Rick Matros. A “double whammy” of the downturn in debt markets and the lingering effects of the Covid-19 pandemic affected the portfolio’s ability to be sold and helped lead to the exit, he […]
The increasing obsolescence of U.S. senior housing stock was a growing concern prior to the Covid-19 pandemic, and the issue has only become more pressing. As of 2019, the average age of senior housing stock across the 31 primary markets tracked by NIC MAP Vision was 21 years. Today, about 45% of the inventory base […]
Transactions Eskaton Exits Skilled Nursing, Narrows Focus to Senior Services and Residential Living Eskaton announced its exit from the standalone skilled nursing sector with the sale of three skilled nursing communities that are not part of a larger residential living community in a deal valid north of $35 million, according to the Sacramento Business Journal. […]
The joint venture company of TPG Real Estate and Sabra Health Care REIT (Nasdaq: SBRA), which involves more than 150 senior living communities operated by Enlivant, is in the process of negotiating with lenders to restructure its financing, following certain failures to meet financial covenants and a notice of default. That is according to amended […]
Sabra Health Care REIT (Nasdaq: SBRA) has also received a favorable IRS private letter ruling to self-manage IL units three years ago — but CEO Rick Matros has no plans to wield that power. Like some of its real estate investment trust (REIT) peers have done more recently, Sabra in 2020 originally sought more flexibility […]
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