• Confluent & MorningStar Team Up on Development

    Confluent Senior Living and MorningStar Senior Living entered into an exclusive negotiating agreement with the City of Tustin, California, to lead the development of MorningStar at Tustin Legacy. The Orange County community will feature 145 independent living, 60 assisted living and 28 memory care units. There will be several four- or five-story... Read More »
  • H2C Securities Refinances Quality Life Services

    H2C Securities Inc., a healthcare-focused strategic advisory and investment banking firm, served as the exclusive advisor to Quality Life Services in obtaining a bridge loan to refinance the debt associated with the company’s portfolio of 10 skilled nursing and senior living properties. Quality Life Services’ existing lenders were reducing their... Read More »
  • Inspired Healthcare Capital’s $41 Million Acquisition

    A Class-A, well performing seniors housing community in North Haven, Connecticut, sold for $41.1 million, or around $330,000 per unit. The seller, Columbia Pacific Advisors, capitalized on an opportunistic disposition to lock in returns and return capital to investors early in its fund’s life.  Built in 2019, The Landing of North Haven... Read More »
  • Blueprint Handles Florence County Deal

    Kyle Hallion, Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors were brought on by a repeat institutional owner/operator client to sell Florence Place, a 61-unit assisted living/memory care community in Florence, South Carolina, that was built in 1999. The seller decided to divest at the start of 2023, following the... Read More »
  • CFG Arranges Senior and Mezz Debt

    A portfolio of senior care facilities in the Pacific Northwest received a debt package consisting of a mezzanine and senior loan. Capital Funding Group first helped the client place senior debt which totaled $78.46 million. Then, CFG closed a $13.84 million mezzanine loan, which supported the refinancing of eleven skilled nursing facilities and... Read More »
New Staffing Regs Announced

New Staffing Regs Announced

Although three months late, the Biden administration and CMS finally came out with their proposal for minimum staffing requirements for nursing homes. They should have waited longer, but what would be the point? They were tone deaf to the staffing problems anyway. The proposed change includes a minimum of 0.55 hours of care from an RN every day, a minimum of 2.45 hours from a certified nurse’s aide per day, but these are the floors. In addition, an RN will have to be on site 24 hours a day. That is going to be very tough for many facilities. Rural nursing homes will have up to five years to meet the proposed standards, and non-rural facilities up to three years. There will be a 60-day... Read More »
Diversified Healthcare Trust Merger Canceled

Diversified Healthcare Trust Merger Canceled

First it was a postponement of the shareholder vote for a week, and now the ill-fated merger between Diversified Healthcare Trust (DHC) and Office Properties Income Trust (OPI) has been terminated. Two vocal shareholders combined with the three proxy firms advising against the merger was enough to convince management to finally give up. For now. Both parties to the merger have been struggling, and while management stated that this was the only way that DHC would be able to refinance its debt and get on a more solid financial footing to grow, the terms of the transaction seemed to penalize DHC shareholders too much at a time when its major operator was on the road to recovery, albeit more... Read More »
Has There Been Any Progress on Labor?

Has There Been Any Progress on Labor?

What has changed with labor in the senior care industry over the last two years? Back in October 2021, LevinPro LTC hosted a webinar discussing the senior care industry’s staffing shortages with CEO of Dwyer Workforce Development, Barb Clapp, and Steve LaForte of Cascadia Healthcare. Those interested in watching Finding It, Retention & Coping with Higher Wages can find the replay link here. Two years later, with the same panelists, Managing Editor Ben Swett hosted Has There Been Any Progress on Labor?, detailing the industry’s path towards labor stabilization, what has gone right, and what still needs to be done. Clapp and LaForte discuss how staffing issues have altered since 2021,... Read More »
Webinar: Has There Been Any Progress on Labor?

Webinar: Has There Been Any Progress on Labor?

On July 19, 2023, Managing Editor Ben Swett hosted Has There Been Any Progress on Labor?, detailing the senior care industry’s path towards labor stabilization, what has gone right, and what still needs to be done. The panelists were Barb Clapp of Dwyer Workforce Development and Steve LaForte of Cascadia Healthcare. Read More »
Is Remote Work Really Impacting Occupancy?

Is Remote Work Really Impacting Occupancy?

There was an interesting article in the Wall Street Journal last week that claimed there is a relationship between soft occupancies in seniors housing and more people working from home. The gist of it was that with more people working remotely full time, or even part time, they are better able to check on mom or dad who might otherwise be thinking about moving into seniors housing, and postponing the move because the kids are more involved. The first problem is that this assumes that the kids live nearby, and the reality is that many of their parents have already moved to warmer climates. The second problem is that it is much more than the need to “check” in on them. If they really need a... Read More »
Brookdale’s Occupancy Continues to Lag Industry

Brookdale’s Occupancy Continues to Lag Industry

Brookdale Senior Living reported its June occupancy levels this week, and while there were increases, those increases lag the increases for the overall industry, and absolute levels of occupancy also continue to lag behind the industry. Weighted average June occupancy was 76.8%, 20 basis points above May but 10 basis points below the occupancy rate last September. That is not progress, even acknowledging that the first half of the year is usually bad for census. Management observed that this was a 160-basis point increase over June 2022. While looking back a year is nice, let’s hope when they do it again in October that they are not showing a small 50-basis point increase year over year.... Read More »