Welltower CEO: Path to Recovery Includes $480M Embedded NOI Growth, Lifestyle-Driven Consumers Returning

Welltower (NYSE: WELL) CEO Shankh Mitra believes there are some “green shoots” emerging in the company’s U.S.- and U.K.-based senior housing portfolios — but he is also wary of predicting a timeline for pandemic recovery. Still, the real estate investment trust (REIT) released a “Path to Recovery” that identifies $480 million in embedded NOI growth, […]

Movers & Shakers: Lifespace Appoints Chief People Officer, Welltower Announces Two Board of Directors Nominees

Movers & Shakers is brought to you by the Senior Housing News Job Board. Browse and apply to management and executive senior living jobs and positions from leading professional firms serving the industry. Employers can post single jobs, purchase job packages or our premium subscription that includes unlimited job posts and editorial coverage for one […]

Senior Housing Occupancy Hit New Record-Low of 78.8%

In the first three months of the year, U.S. senior occupancy fell to a new record-low level, of 78.8%. That occupancy rate was 1.8 percentage points lower than in Q4 2020 and 8.7 percentage points lower than a year prior, according to NIC MAP Vision data released Thursday. Assisted living occupancy was even lower, hitting […]

Welltower Sees 3 Weeks of Senior Housing Occupancy Gains, Expects To Hit Top End of FFO Guidance

Welltower (NYSE: WELL) has seen three consecutive weeks of occupancy gains in its U.S. and U.K. senior housing operating (SHO) portfolios, and is expecting to achieve the top end of its guidance range for Q1 2021 normalized funds from operations (FFO). The news reflects positive momentum for a large swath of senior living communities, given […]

Transactions & Financings: Welltower Closes $750M Note Offering; Boston Financial’s $173M LIHTC Fund

Welltower (NYSE: WELL) is improving its liquidity debt maturities situations. The Toledo, Ohio-based health care real estate investment trust closed a $750 million offering of 2.8% senior unsecured notes, due in June 2031. Welltower will use the net proceeds to redeem $340 million of outstanding 3.75% senior notes due March 2023, and $335 million of […]

Transactions & Financings: Focus’ $165M Portfolio Acquisition; Sabra’s $29M Transaction

Focus Healthcare Partners is adding more independent living to its senior housing portfolio. The Chicago-based health care real estate investor acquired four independent living communities in the metro Atlanta market, totaling 559 units, for $164.5 million. The communities are operated by Edmond, Oklahoma-based owner and provider, Mansions Senior Living. Focus purchased the portfolio through its […]

Covid-19 Trends Make Welltower CEO More Optimistic About Senior Housing Recovery Timeline

As vaccination rates increase, Covid-19 infections decline, occupancy loss slows and lead generation picks up, Welltower CEO Shankh Mitra is becoming more optimistic about the potential timing of a bounceback in senior housing. Mitra resisted predicting when senior housing occupancy would hit a bottom during the recent Q4 2020 earnings call for the Toledo, Ohio-based […]

Welltower Largely Splits With Genesis, Bolsters ProMedica JV in Deals Valued at $880M

Welltower (NYSE:WELL) announced Tuesday it has substantially exited its operating relationship with nursing home giant Genesis HealthCare (NYSE: GEN), with joint-venture health system partner ProMedica picking up some of the operator’s buildings.  In a separate transaction, Toledo, Ohio-based Welltower is divesting 25 properties that it acquired through its 2018 JV with ProMedica. The series of […]