Transactions & Financings: Ensign Group Acquires Arizona Campus; Acts Sells Maryland Assisted Living Facility

Love Funding closes $16M in HUD financing Love Funding partnered with the Department of Housing and Urban Development (HUD) on two senior housing financing packages totaling $16.04 million. The firm’s parent company, Midland States Bank, was able to complete short-term bridge loans to secure funding. Highlights: A $3.14 million acquisition of Egida Hogar San Antonio, […]

The Bottom Line: CFO Nurtures Pennant’s Entrepreneurial Spirit in Covid-19 Battle

The Pennant Group (Nasdaq: PNTG) was already contending with transitional headwinds related to its spinoff from the Ensign Group (Nasdaq: ENSG) when the coronavirus pandemic added further pressures to operations and liquidity. Compared to other operators, however, the Eagle, Idaho-based provider was able to ride out occupancy declines in the outbreak’s early weeks and reported […]

Pennant Group Sits on $9.9M in CARES Act Money; Managing Covid-19 Pressures

As with other publicly traded owners, The Pennant Group (Nasdaq: PNTG) has been under pressure from the coronavirus pandemic since mid-March. The Eagle, Idaho-based owner is now seeing an uptick in home health census this month, as well as stabilization in its senior housing occupancy, and believes these trends can continue throughout the second quarter, […]

Post-Ensign Spinoff, Pennant Faces Senior Housing Headwinds

In its first full quarter as a publicly traded entity, The Pennant Group (Nasdaq: PNTG) posted strong revenues in both of its service segments. But its senior housing portfolio lagged slightly due to transitional headwinds and the Eagle, Idaho-based company will spend 2020 on assisting its operating partners in unlocking the revenue potential of the […]

CareTrust Prunes Portfolio in Q3, With Eye Toward 2020 Growth

CareTrust REIT (Nasdaq: CTRE) has spent most of 2019 doing some “spring cleaning” of its portfolio of long-term care facilities — including its senior housing assets — and focused on restructuring its portfolio and transitioning operators in the third quarter with an eye toward future growth in 2020 and beyond. “After five years, a lot […]

Transactions & Financings: Ensign Group Completes Pennant Spinoff; GlynnDevins Acquires Consulting Firm

Ensign Group senior housing spinoff complete The Ensign Group (Nasdaq: ENSG) completed its spinoff of The Pennant Group (Nasdaq: PNTG), its unit for senior living, home health and hospice properties. The Mission Viejo-based company first announced the spinoff in May. Ensign stockholders received one share of Pennant common stock for every two shares of Ensign […]

Ensign Names CFO for Pennant Group Spinoff

The Ensign Group (Nasdaq: ENSG) hired a new chief financial officer for its coming senior living, home health and hospice spinoff. The Mission Viejo, California-based owner and operator on Tuesday named Jennifer Freeman as CFO of The Pennant Group. She was previously in the same role at Cornerstone Healthcare, Ensign’s home health and hospice arm, […]

Transactions & Financings: Senior Housing Management Expands Operations; Ensign Acquires in California

JLL advises Welltower on $1.8B Benchmark portfolio sale JLL (NYSE: JLL) represented Welltower (NYSE: WELL) in the Toledo, Ohio-based REIT’s $1.8 billion disposition of 48 properties operated by Waltham, Massachusetts-based Benchmark Senior Living, to an unnamed buyer. The 4,137-unit portfolio consists of 48 assisted living properties located in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island […]

Transactions & Financings: Ventas’ $490M Colony Capital Refinancing; BPM Senior Living Portfolio Sold

Ventas invests $490M in Colony Capital refinancing, announces $800M research development pipeline Ventas (NYSE: VTR) announced four new developments, totaling $800 million in its university-based research and innovation business, all in partnership with Wexford Science & Technology (“Wexford”), the leading developer of university-focused real estate solutions. These investments are part of $1.5 billion research and […]

Ensign Bets Pennant Spinoff Unlocks Senior Housing Potential

The Ensign Group’s (Nasdaq: ENSG) newly announced spinoff of its senior living, home health and hospice properties will provide a more focused foundation of support for its 51-property senior housing portfolio, unlock untapped earnings potential and identify new acquisition opportunities, the Mission Viejo, California-based company said during its Q1 2019 earnings call Tuesday. Ensign reported […]