60 Seconds with Steve Monroe: How Many Waves Can There Be?
Just when we thought we were emerging from the pandemic crisis, the news seems to be getting worse about this Delta variant. The good news, at least for seniors housing providers, is that it is a much younger population that is getting hit, not senior care residents because they are almost all vaccinated. Hellooooo. A few months ago, we wrote that the southern, and maybe southeastern region would lead the census charge from the lows in March. Unfortunately, the positivity and hospitalization rates with the Delta variant have been the highest in the southern states, with Florida, Louisiana, Arkansas and Missouri leading the way, and not in a good way. The region also suffers from some of... Read More »
60 Seconds with Ben Swett: National Health Investors Issues Another Positive Occupancy Update
Transcript Inflation worries and fears surrounding the delta variant took the stock market and publicly traded senior care companies on a bit of a roller coaster the last couple of days, but we were also delighted to see some positive news come from National Health Investors. From May to June, the REIT saw its occupancy jump across its three major operating partners. The nine SLC properties rose 50 basis points to 79.1%, Bickford’s 42 properties saw a 90-basis point increase to 78.2%, and the 26 properties operated by Holiday Retirement saw census rise by a more modest 20 basis points to rest at 74.1%. Still a long way to go, and we’re not sure what kind of rent discounts are being... Read More »
60 Seconds with Steve Monroe: Best Vaccination Rates in the Country?
Transcript Irving Levin Associates is headquartered in the small town of New Canaan, Connecticut, with a population of just over 20,000. According to statistics from the Department of Health, residents who are 65 and over have a vaccination rate of 99.64%. That means that fewer than 20 have not been jabbed. While the older residents have a greater incentive to get vaccinated, given they have been the most vulnerable to COVID, that is an incredible number. But the most surprising number was the age cohort of 16 to 44, where 96.29% have been vaccinated. That is higher than the national averages for residents in any kind of senior care community. What is weird is that it is also higher... Read More »
60 Seconds with Steve Monroe: Good News For SNFs
There was some good news for the skilled nursing market, as NIC MAP’s Data Service reported that occupancy has increased for the third straight month. The April increase was 94 basis points, ending at 73.2%. The bad news was that the quality mix and skilled mix dipped from the prior month. While these numbers may be reflective of what is happening overall, the data comes from just 28 providers with 1,391 facilities, so less than 10% of the entire national market. The stats are also dominated by California, Texas, Florida and North Carolina, so may not be reflective of your situation in Michigan. Hopefully even better. The reality, however, is that the entire seniors housing and... Read More »
60 Seconds with Ben Swett: Competition For Deals in an Active M&A Market
We’re not sure we have ever seen a month like this when it seemed that institutional buyers were racing to see who could announce the biggest deal. First was Welltower’s acquisition of 22 Pathway to Living communities, then came Harrison Street’s $1.2 billion purchase of 24 Oakmont communities, then Atria Senior Living acquired Holiday Retirement and Welltower jumped back in again, acquiring Holiday’s owned portfolio of 86 properties. Next, we had the Griffin American REITs 3 and 4 merging, and finally, at least of this filming, Ventas will pay $2.3 billion to purchase New Senior Investment Group. It has been a dizzying display of strength from these institutional buyers, and we are... Read More »Schedule a demo
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