Active Adult: Is Now The Time
The active adult market may fill a lot of voids in seniors housing, including price points and attracting younger “seniors.” Join our webinar as we dissect the market with industry leaders and see how these new properties are trading in the market. First of all, Happy New Year. It has got to be better than the last one. The coronavirus pandemic has certainly disrupted the senior living industry, at least for now. Are consumers going to be afraid of moving into a senior living community once the vaccine is widely distributed? Will cost become a more important factor for choosing the type of community to move into? How about paying for what you only want or need? These will... Read More » Saying Goodbye To 2020
It’s time to put 2020 to rest, and in 2021 we will all do our best. If you happen to be listening to this on Christmas Eve Hopefully you will remember it came from Steve As you know, 2020 was a terrible year And in our industry, it brought little cheer What with shortages of tests and PPE Let’s not forget those of us who ran out of TP COVID was nasty, don’t we all know And it cost the providers a lot of dough Blame was cast by the media for sure But your resilience means we will all endure There’s no time to waste, the message still needs to get out That you are a safe place to live, there is no doubt So, as we journey into another year anew I wish you health and happiness in all you... Read More »
LTC Properties Provides Rent Relief
How do you spell relief in the pandemic? Reducing the rent escalators that REITs charge their tenants. That is precisely what LTC Properties has decided to do in 2021, and we wonder if a few other REITs may follow suit. Several REITs already agreed to rent deferrals in 2020 as their tenants were struggling with census and operating costs. But those deferrals have to be paid back at some time, since they were simply “deferred.” But under LTC Properties’ plan, the 2021 rent escalator will be cut by 50% and presumably not have to be paid back. While it may be painful for LTC and its shareholders in the short-term, it was the right thing to do because many tenants... Read More »
Navigating the Senior Care Lending Market with Don Kelly of Locust Point Capital
Ben Swett, the Editor of The SeniorCare Investor, sits down with Don Kelly, Managing Director of Locust Point Capital, to discuss the current state of the seniors housing and care lending environment. Ben Swett, Editor of The SeniorCare Investor – Don Kelly is the Managing Director of Locust Point Capital where he is responsible for loan originations and structuring. Don has more than 25 years of experience in the seniors housing and skilled nursing industry and he’s also been involved in the originating, structuring and underwriting of approximately $5 billion in transactions. So, Don, you seem like the right person to turn to for all our lending... Read More »
Will Brookdale Sell Its Home Health Business?
Rumors were afloat this week that Brookdale Senior Living might be running a sales process for its home health and hospice business. Quietly, it became one of the largest home health providers in the country, with revenues of $447 million in 2019, inclusive of hospice and a very small therapy business. We happen to think home health and hospice is a natural for large senior living providers with a built-in customer base off of which to leverage growth outside their communities. It is also a nice lead-in for full time residence into some of their communities. Today, about 50% of the home health and hospice revenues are “in-house,” while 50% are outside of Brookdale’s... Read More »