Covid-19 has disrupted senior living providers’ balance sheets, and it’s clear that the pandemic will have lingering effects — but some companies are seeking to limit the pain and believe they can avoid permanent margin compression. A similar story has played out in U.S. senior living companies since March: as communities went on lockdown to […]
Welltower announces $300M cash tender offer Welltower (NYSE: WELL) announced a cash tender offer for up to $300 million in 3.95% and 3.75% notes, both due in 2023. The offer will expire on July 14, 2020 at midnight Eastern. Welltower has retained BofA Securities, J.P. Morgan Securities and Wells Fargo Securities to serve as dealer […]
Welltower (NYSE: WELL) spent the second quarter of 2019 improving its liquidity position in response to the coronavirus pandemic, thanks in part to $1.3 billion in divestitures of senior housing and outpatient medical assets. Occupancy declines in its senior housing segment, meanwhile, appear to be stabilizing nearly three months into lockdowns across the country. The positive […]
Welltower (NYSE: WELL) closed on a $300 million sale of six senior housing assets at the end of May and is also disposing of a $1 billion portfolio of seven senior housing and 29 outpatient medical properties. The transactions were executed on a quick timeline of less than 45 days between signing of confidentiality agreements […]
Executives with Ventas Inc. (NYSE: VTR) are reducing their salaries and the Chicago-based firm is cutting about a quarter of its corporate staff as part of an effort to maintain financial strength in the midst of the Covid-19 pandemic. The real estate investment trust (REIT) is one of the largest owners of senior housing properties […]
The Covid-19 pandemic has sparked what one analyst is calling a “Great Reset” — and the result has been topsy-turvy for the senior living industry. Investor sentiment may be shifting against senior housing in favor of the once-shunned skilled nursing sector. Related, the pandemic is helping some senior housing owners that have been working for […]
Like senior living providers across the nation, Belmont Village has been tested by the coronavirus pandemic. Yet, despite increased costs and operational complexities, Covid-19 is also spurring innovation and could present growth opportunities for the Houston-based provider, according to President Mercedes Kerr. After a decade with Toledo, Ohio-based real estate investment trust Welltower (NYSE: WELL), […]
The coronavirus pandemic sent occupancy rates for senior housing and skilled nursing communities on a downward trajectory in April, according to a new intra-quarterly report released Tuesday by the National Investment Center for Seniors Housing & Care (NIC). Senior housing stabilized occupancy among NIC’s 31 primary markets dropped 110 basis points to 88.7% — the […]
Welltower sells Florida assisted living facility for $56M Welltower (NYSE: WELL) sold Aston Gardens Assisted Living in Parkland, Florida for $55.7 million, The Real Deal Miami reports. The buyer was Kayne Anderson Capital Advisors. the property is operated by Discovery Senior Living. The property sold for $78 million in 2015. The latest sale marks a […]
Welltower’s (NYSE: WELL) senior housing portfolio took a substantial hit to occupancy between March and May as the Covid-19 pandemic dragged on — but the company believes the worst still is yet to come on that front. Occupancy for the Toledo, Ohio-based company’s senior housing operating (SHO) portfolio fell by 70 basis points in March […]
