Higher-acuity senior living communities may have more to gain if home sales continue to slow down and decelerate the pace of move-ins across the country. That’s according to a recent Berkadia report highlighting the outlook for the remainder of the year. Overall, Berkadia’s analysis calls for senior living occupancy to remain around 83% to 85% […]
Ventas
For more than three decades, Watermark Retirement had never been replaced by a different management company. But times have changed. “We were replaced by Welltower on a few of our communities; but on the other hand, we’re being the replacer, going into some communities,” Watermark Chairman David Freshwater told me recently. Swapping management companies is […]
With year-over-year margin growth of 200 basis points in its senior housing operating portfolio (SHOP), Ventas (NYSE: VTR) is taking advantage of market forces to grow beyond a strongfirst quarter. “We believe that above 90% occupancy and higher margins are also attainable because current supply-demand conditions are materially more favorable than they were during the […]
Activist shareholder Land & Buildings is still not pleased with Ventas (NYSE: VTR) more than a year after first taking aim at the company’s leaders over claims of mismanagement and underperformance. In an open letter to the Ventas board, Land & Buildings Founder Jonathan Litt said the company plans to vote against Board Chair and […]
Some months back, a group of Priority Life Care employees created a burner email address and emailed Sevy Petras, the company’s chief executive. In the email, the employees had an urgent message to share: Though they were aware of the company’s new rule of not using agency labor, they said some positions in their community […]
As 2023 enters its second quarter, the year is shaping up to be a rollercoaster ride for the senior housing sector. After a slew of bad news, the last week brought positive headlines. Brookdale (NYSE: BKD) improved its forecast for Q1 financial results, and NIC MAP Vision data showed that sector-wide occupancy has been surprisingly […]
Ventas (NYSE: VTR) on Friday announced that it intends to take ownership of the collateral that supports its approximately $486 million cash-pay mezzanine loan to Santerre Health Investors. The move will give the REIT full ownership of 16 “large-scale” communities in its senior housing operating portfolio (SHOP), representing nearly 20% of the NOI of the […]
Self-managing certain senior living assets is currently out of the question for Ventas (NYSE: VTR), according to CEO Debra Cafaro. Late last year, fellow real estate investment trust (REIT) Welltower (NYSE: WELL) won flexibility from the IRS to self-manage more than 45,000 independent living units. The Toledo, Ohio-based REIT is now spinning up an operations […]
Brookdale Senior Living (NYSE: BKD) and Pennant Group (Nasdaq: PNTG) held their earnings calls in the last week, with one common theme being the future of the executive director role. “We are evolving the executive director role to emphasize a larger growth mindset, underscoring strong sales acumen for the incumbents and future community leaders,” Brookdale […]
Over the past week, executives with publicly traded senior living companies outlined their latest earnings reports. They all see a long runaway ahead for occupancy and NOI growth — the trick will be getting there. A general theme has emerged in recent quarters: Executives see the senior living industry perched at a crossroads between today’s […]
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