Colony Capital (NYSE: CLNY) intends to sell its wellness infrastructure portfolio in 2021, CEO Mark Ganzi confirmed Thursday. The real estate in the portfolio is valued at $3.3 billion and includes 118 senior housing properties and 83 skilled nursing facilities, in addition to medical office and hospital assets. In March 2021, Bloomerg reported that Fortress […]
Senior Lifestyle Corp.
Brookdale Senior Living (NYSE: BKD) opted to extend its lease with real estate investment trust LTC Properties (NYSE: LTC) through Dec. 31, 2021. Brookdale holds an option to extend the lease through April 30, 2022. Rent terms under the master lease did not change. Westlake, California-based LTC also extended a $4 million capital commitment to […]
LTC Properties (NYSE: LTC) granted roughly $3.7 million in deferred, abated and reduced rent in the first four months of this year. The Westlake Village, California-based real estate investment trust (REIT) also has agreed to provide rent deferrals and abatements of up to $721,000 for both May and June of this year. In Dec. 2020, […]
Senior living’s response to Covid-19 over the past year cemented the industry’s years-long paradigm shift toward greater clinical capabilities and integration across the care continuum. This shift was ongoing, pre-pandemic, due to rising acuity among residents and shifts in health care payment systems, among other factors. Especially in light of Covid-19, providers throughout the space […]
The Covid-19 pandemic has created myriad problems for senior living providers. But these problems are not insurmountable, and companies across the industry are devising creative solutions. In this series, we’re surveying industry leaders to highlight these actionable solutions. For this edition, we asked leaders with Brookdale Senior Living (NYSE: BKD), Senior Lifestyle Corp., Kendal Corp. […]
The recovery of the senior living industry in 2021 hinges in part on pent-up demand — but capturing it will be easier said than done. As a result of the Covid-19 pandemic, move-in rates plunged last year, contributing to historically low occupancy rates across the industry. While the extent of pent-up demand is hard to […]
Real estate investment trust LTC Properties (NYSE: LTC) is trying to think and act “outside the REIT box” as Covid-19 continues to pressure its operators, with efforts such as a Smart Design initiative to modernize communities. Meanwhile, the Westlake Village, California-based company continues to work through challenges with some tenants, notably Senior Lifestyle. In the […]
More than 7,000 assisted living residents may have died from Covid-19 in the United States, according to a new report based on information that federal lawmakers gleaned from providers. The report suggests that the numbers may actually be higher, since deaths in assisted living facilities are not reported to the federal government, an issue that […]
Two U.S. senators from Massachusetts and the chair of the House Oversight Committee are asking some of the largest providers of senior living in the U.S. to provide more information about their Covid-19 infection rates and response measures. Sens. Elizabeth Warren (D-Mass.), Ed Markey (D-Mass.) and Rep. Carolyn Maloney (D-N.Y.) this week sent a letter […]
A little over 20 years ago, Bill Kaplan had a fateful meeting with Chicago Mayor Richard Daley. At the time, Kaplan was an entrepreneur of growing stature in the Windy City. The company he had co-founded, Senior Lifestyle Corp., had a small but growing portfolio of private-pay senior living communities. Seeing that success, Mayor Daley […]