LTC Properties CEO: Labor Woes Are Preventing Occupancy Growth

Senior housing and care operators are “working constantly and creatively” to overcome staffing challenges, but workforce issues are constraining occupancy growth, according to Wendy Simpson, CEO of LTC Properties (NYSE: LTC). “We’ve had some of our assisted living operators say they closed a floor and are not opening up the floor until they can get […]

Transactions & Financings: LTC Settles With Senior Care Centers and Abri Health Services; Terwilliger Plaza’s $155M Bond Issuance

The relationship between LTC Properties (NYSE: LTC) and two of its bankrupt tenants has come to an end. The Westlake Village, California-based real estate investment trust (REIT) announced it reached settlement agreements with Senior Care Centers and Abri Health Services. LTC agreed to pay the skilled nursing providers $3.25 million in exchange for their assistance […]

Transactions & Financings: Asbury Communities’ $96M Bond Refinancing; LTC’s AL Acquisitions

HJ Sims closes $96M financing package for Asbury Communities HJ Sims closed on a $96.12 million bond refinancing for Asbury Communities’ senior housing communities in Pennsylvania: Bethany Village in Mechanicsburg; and Springhill in Erie. Sims assisted Asbury the communities’ outstanding Series 2010 Bonds on their first optional redemption date of January 1. Sims successfully priced […]

LTC Completes Thrive Transition, Fine Tunes Acquisition Strategy

LTC Properties (NYSE: LTC) spent the first half of 2019 addressing underperforming operator partnerships and now believes it has set up its portfolio for improved performance in the year’s final months. Notably, the Westlake, California-based health care real estate trust completed the transition of six properties previously operated by Thrive Senior Living, and LTC is […]

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 […]

LTC Focused on Troubled Tenants, Positioning for Acquisitions

After a year marked by troubled operators and a senior housing acquisition drought, LTC Properties (NYSE: LTC) enters 2019 not quite out of the woods. “It was one step forward, two steps back on the tenant front for LTC in 4Q18,” analysts with financial services company Mitsubishi UFG Financial Group (MUFG) wrote, commenting on the […]

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 […]

Movers & Shakers: Juniper’s Executive Promotion

Juniper Communities Announces Executive Promotion Juniper Communities, a national owner and operator of 20 senior living communities, announced the promotion of Cindy Longfellow to vice president of business development and sales and marketing. Longfellow started with Juniper in 2003 at a Wellspring Memory Care community in Louisville, Colorado, serving as a member of the community-based […]