Dissecting the Holiday Retirement Deal
Welltower announced the acquisition of Holiday Retirement’s owned portfolio of 86 independent living communities for $1.58 billion, or just about $152,000 per unit. Simultaneously, Atria Senior Living said that it was acquiring Holiday’s operating business for an undisclosed price. Either of these announcements would normally be major news, but they also come on the heels of Harrison Street’s $1.2 billion purchase of 24 properties operated by Oakmont Senior Living and a very busy June (so far) with more than 30 individual transactions already made public. Perhaps the tide has turned for investment activity in seniors housing and care. The Welltower deal also represents yet another... Read More »
LifePoint Health & Kindred Healthcare Announce Merger
LifePoint Health has signed a definitive agreement to acquire Kindred Healthcare, LLC, the two companies announced late Monday. The deal brings together two major players in the acute and post-acute healthcare market. LifePoint Health, a subsidiary of RCCH HealthCare Partners, owns and operates community hospitals, regional health systems, physician practices, outpatient centers and post-acute facilities across the country. Kindred Healthcare is the nation’s leading specialty hospital company delivering acute health services in its long-term acute care hospitals, inpatient rehabilitation hospitals, acute rehabilitation units, and behavioral health line of business, all specializing in... Read More »
LCS Hires Joe Weisenburger from Welltower
LCS has picked up a noteworthy hire from Welltower, welcoming Joe Weisenburger as their new vice president, senior director of business development. Mr. Weisenburger brings 23 years of industry experience to LCS, one of the country’s largest senior care operators with over 130 properties in its portfolio. He has developed multibillion-dollar senior housing deals and previously served as Welltower’s senior vice president of business development. At Welltower, he worked on the management team that brought the company’s assets from $1 billion to $30 billion dollars. He will now be tasked with creating business development strategies aimed at increasing revenue across all LCS... Read More »
National Health Investors Issues Another Update
National Health Investors is continuing its steady census progress, but the rent deferrals for Bickford Senior Living just will not end. The silver lining is that the deferral amounts are decreasing, from $3 million in both March and April of this year and $2 million in June. Now, the two parties have agreed to $1.5 million in rent deferrals per month in June and July. That will bring Bickford’s total deferred rents with NHI to $11.75 million for the year, so far, which is expected to be repaid over a period of 18 months commencing on October 1, 2021, at an interest rate of 8% from the date of the deferral. That is on top of the $3.75 million of Bickford deferred rent from Q4:20 and... Read More »
Another Family Owner/Operator Exits the Industry
As Covid-19 has led to overall decreases in senior housing occupancy levels, Sherer Management joined several of its peers by closing down its multigenerational family business with the sale of its last two CCRCs in Iowa. These properties include a total of 188 beds at Rose Vista in Woodbine and Longview Home in Missouri Valley. They offer skilled nursing, assisted living and independent living services, in addition to hospice services through Generations Hospice. The Sherer family had owned and operated these businesses for over 60 years. Kevin Laidlaw and Dominic Porretta of Lument Securities led the transaction and advised Sherer on the sale of their businesses.... Read More »Schedule a demo
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