Welltower (NYSE: WELL) is taking heat. At issue is the deal to transition 147 skilled nursing facilities from a JV with ProMedica into a newly formed JV with Integra Health. The controversy has implications for Welltower’s senior living strategy and the future of skilled nursing investment generally. Last week, Hindenburg Research released a lengthy report […]
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After a difficult 2020 and 2021, the senior living industry seemed to hit its stride in 2022. With occupancy on the rise and a demand wave on the horizon in the form of the baby boomers, 2023 is shaping up to be a crucial year for growth and evolution. That said, the industry has many […]
Senior living could be on deck as part of a planned redevelopment of the Tampa Bay Rays’ Tropicana Field stadium in St. Petersburg, Florida. Global real estate firm Hines proposed a plan that would include not only $1 billion in stadium renovations, but add a surrounding development that would include more than 7,000 housing units, […]
Hospital systems across the United States are pursuing strategy shifts that are starting to reshape senior living market dynamics and suggest new operating models. Health system ProMedica shed nearly all of its skilled nursing facilities while holding onto its private-pay memory care portfolio, in a recently announced deal involving Welltower (NYSE: WELL). And about two […]
Earlier this month, Clearwater Living acquired four LivGenerations communities in the Phoenix area. New information shows the deal changed hands for a relatively high total compared to other similar deals. Newport Beach, California-based Clearwater Living and capital partner PGIM paid $255 million to buy multiple Arizona properties consisting of 554 units from Liv Communities, as […]
The Internal Revenue Service (IRS) recently granted a favorable decision for Welltower (NYSE: WELL) regarding its management of 45,000 IL units, according to the real estate investment trust’s presentation at Nareit’s REITworld conference. On Nov. 7, the IRS concluded that a portion of the Toledo, Ohio-based REIT’s IL communities were “not classified as ‘health care […]
Discovery Senior Living is catering to the evolving preferences of the incoming baby boomer generation with a new brand of experience-focused communities called Choreograph. As planned, Choreograph communities will focus on experiences it can curate for residents. For example, the Bonita Springs, Florida-based company is opening a new community near the University of Florida in […]
Improvements in senior housing fundamentals for Welltower (NYSE: WELL) are creating a “strong setup for 2023,” according to CEO and Chief Investment Officer Shankh Mitra. Specifically, Welltower’s senior housing operators demonstrated historically strong pricing power in Q3 2022, and Mitra is even more excited about positive workforce trends. “We strongly believe the labor market is […]
ProMedica’s senior care portfolio is being pared down substantially. The Toledo, Ohio-based organization will continue to operate 58 Arden Courts memory care communities that are in a joint venture with Welltower (NYSE: WELL), but is shedding nearly 150 skilled nursing assets. More specifically, Welltower is selling and transitioning 147 skilled nursing facilities currently operated by […]
In 2018, Discovery Senior Living CEO Richard Hutchinson had a vision for the future of the company — and for the industry. Four years later, he is executing on that vision with major plans underway and new partners in tow. On Wednesday, the company announced a new recapitalization with Coastwood Senior Housing Partners and Lee […]