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Welltower
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 (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 […]
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 […]
A new leader will take the helm at one of the largest U.S. senior living providers this week, as Jack Callison officially starts as CEO of Sunrise Senior Living on April 1. Callison will launch a “CEO Listening Tour” during his first 100 days, to visit Sunrise communities and hear “unfiltered feedback” directly from leadership, […]
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 […]
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 (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 […]
A federal court ruling last week that the Public Readiness and Emergency Preparedness (PREP) Act grants liability to senior living providers taking measures to protect residents from Covid-19 is seen by industry advocates as a positive sign. It came after months of lobbying Congress for liability immunity from pandemic-related lawsuits. “It is an overwhelmingly positive […]
A California federal court ruled Wednesday that measures taken by senior living providers to protect residents from Covid-19 are eligible for complete liability immunity under the Public Readiness and Emergency Preparedness (PREP) Act. “The California federal court ruling is significant for the industry which has done everything in its power to protect staff and residents […]