• LevinPro’s New Valuation Tool

    Steve Monroe and Ben Swett sat down for an in-depth demonstration of LevinPro’s brand-new valuation tool, showing off its accuracy and usefulness for valuing seniors housing and skilled nursing properties in today’s M&A market. Read More »
  • 60 Seconds with Swett: Will Q4 Set Records?

    Happy fourth quarter everybody, and it should be a record-breaking one with all of the transaction pipelines we are aware of. Of course, deals have to close, and some will inevitably be kicked to Q1. But there is enough optimism among buyers, lenders, operators and certainly the brokers that dealmaking activity should hit new heights in the... Read More »
  • SLIB Closes Class-A Deal in Wisconsin

    A Class-A seniors housing community in Wisconsin found a new owner thanks to Jason Punzel, Jake Anderson and Ryan Saul of Senior Living Investment Brokerage. Built in the last couple of years, the high-quality asset featured approximately 125 units of independent living, assisted living and memory care. Occupancy was strong above 90%, and... Read More »
  • LTC Properties Adds Five Communities to Its SHOP Portfolio

    Just days after LTC Properties added two Kentucky assets to its SHOP portfolio through an off-market transaction totaling $40 million, the REIT announced a larger SHOP acquisition involving five seniors housing properties in Wisconsin. The Class-A portfolio features a total of 520 units of independent living, assisted living and memory care. It... Read More »
  • Forbright Bank Announces Several Financings

    Forbright Bank had a busy end to the summer, announcing a series of closings for a mix of seniors housing and skilled nursing properties across the country. The largest individual transaction was a $50 million term loan that refinanced the existing debt on three skilled nursing facilities in Florida. Forbright underwrote the bridge-to-HUD loan... Read More »

National Health Investors in the Mood to SHOP

National Health Investors posted another good quarter and, like many other companies, increased their earnings guidance for the rest of the year based on current performance as well as expected new investments. The REIT’s small SHOP portfolio posted a 29.4% year-over-year increase in NOI and will be transitioning six communities to the portfolio which had been triple-net leased.  During the second quarter, NHI purchased six assisted living and memory care communities in Nebraska for $63.5 million, or $308,300 per unit. They will be leased at an initial rate of 8.0% plus 2.0% annual escalators for an initial 15-year term. See details on the deal here. In addition, the REIT is providing... Read More »
Brookdale Misses Revenue Targets, Again

Brookdale Misses Revenue Targets, Again

Brookdale Senior Living continues to slap investors and analysts around, missing consensus revenue targets for the fourth quarter in a row. We know, never rely on “consensus” anything, but the company seems to always disappoint, even now when everything should be rallying. Investors did not like what they heard and sent shares tumbling by 10% in early trading, with some recovery later in the morning.  It was not all bad news, of course. Occupancy continues to rise, with weighted average occupancy over 80% in the second quarter, a key benchmark, and same-community occupancy rose to 80.7% in the second quarter, up 190 basis points year over year and up 70 basis points sequentially.... Read More »
60 Seconds with Swett: SNFs Get a Boost from CMS

60 Seconds with Swett: SNFs Get a Boost from CMS

Support for the skilled nursing sector continues to flow from the government, both state and federal, and CMS finalized its FY2026 SNF Prospective Payment System rate increase of 3.2%, based on the final SNF market basket increase of 3.3% plus a 0.6% market basket forecast error adjustment and a negative 0.7% productivity adjustment, amounting to an increase in SNF PPS payments of $1.16 billion compared with FY2025. That is down from the 4.2% increase in reimbursement from the previous fiscal year but up from CMS’s initial proposed increase of 2.8%, announced back in April. And it comes after numerous states have already started to reconcile their Medicaid rates more closely with the... Read More »
Omega Beats Estimates

Omega Beats Estimates

Omega Healthcare Investors released its second quarter results, beating estimates and demonstrating resilience amid the bankruptcy of Genesis Healthcare, one of the largest skilled nursing operators in the country. The REIT reported AFFO of $0.77 per common share, which was above the estimate of $0.75. Revenue also came in higher than expected, totaling $282.5 million as opposed to the projected $240.6 million.  Omega completed approximately $527 million in new investments during the quarter, including $502 million in real estate acquisitions. The company purchased 45 facilities in the U.K. and Jersey for £259.8 million (approximately $344.2 million). The facilities were leased to... Read More »

Another Solid Quarter For Ventas

On the heels of Welltower’s blockbuster second quarter earnings report, Ventas turned in another solid performance as well. Same-community, SHOP occupancy jumped by 240 basis points year over year to 87.6%, NOI margin increased by 130 basis points to 28.4%, cash NOI increased 13.3% and RevPOR was up by 5.3%. The U.S. portfolio had a 290-basis point census increase, led by secondary markets that jumped by 360 basis points year over year. The Canadian portfolio, which was already over 95% occupied, held back the total increase but jumped by 80 basis points. How much higher can it really go? Ventas has made $1.1 billion in new seniors housing investments year to date, and that led management... Read More »
2nd Quarter Investor Call: The Great Debates of Senior Care

2nd Quarter Investor Call: The Great Debates of Senior Care

On Thursday, July 17, Managing Editor of The SeniorCare Investor Ben Swett hosted SCI’s latest webinar, dubbed The Great Debates of Senior Care, with panelists ​​Dan Revie of Ziegler, Scott Hougham of Sage, and Michael Feinstein of Focus Healthcare Partners. Issues such as the chances of having a unit shortfall, whether cap rates are too low, the decision of building versus buying, labor-related challenges, and more were discussed. The expert panelists also provided some advice to new entrants, and responded to questions from the audience. LevinPro LTC subscribers can watch the recording of the webinar here. Read More »