This article is part of your SHN+ subscription Private equity’s role in health care has been a hot topic in 2024, due to situations such as the collapse of Steward Health Care. This week, PE is on my mind, as I spoke with a researcher on the issue of private equity in assisted living, new […]
TPG
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 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 […]
Activist shareholder Land & Buildings has picked another battle with a major senior living company, with the news breaking this week of a proxy fight with Ventas (NYSE: VTR). This latest battle comes after Land & Buildings in 2019 was at loggerheads with Brookdale (NYSE: BKD), unsuccessfully pushing a board nominee and a real estate […]
The impending closure of Eclipse Senior Living and the transition of its 90 communities to eight other operators is the latest upheaval to the industry, after nearly 20 months of pandemic-related disruption. Lake Oswego, Oregon-based Eclipse’s closure is obviously bad news, with 171 employees losing their jobs and shares of its real estate investment trust […]
Sabra Healthcare REIT’s (Nasdaq: SBRA) decision to exit its Enlivant joint venture with private equity firm TPG has not soured the company on the operator, nor lessened its appetite for senior housing. With the wheels already turning on a sale of its 49% stake in the 159-community portfolio, Sabra is turning its attention to growing […]
Sabra Health Care REIT (Nasdaq: SBRA) will exit its joint venture with private equity firm TPG in 159 senior housing communities operated by Enlivant, bringing a nearly two-year saga close to its endgame. The Irvine, California-based health care REIT announced its intentions on Wednesday, ahead of its Q2 2021 earnings call. However, CEO Rick Matros […]
Private equity firm TPG wanted to come to a resolution with Sabra Health Care REIT (Nasdaq: SBRA) on its Enlivant joint venture by the end of 2021. Ongoing operational pressures stemming from Covid-19 have forced TPG to reconsider that time table, and now the two sides have agreed to push back any resolution to the […]
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