The Disgraceful Democratic Debates
The presidential debates last week had a glaring hole, one that everyone should be concerned about. I don’t know about you, but I watched all four hours of the presidential debates last week. I do sort of thrive on those things. But didn’t you think there was something missing? Something major that was not asked? There was not one question from the moderators about fixing Social Security, or Medicare, or Medicaid, or our growing national debt. The Social Security “trust fund” is projected to be depleted in 16 years, just when the last boomer turns 71. Next year it will spend more than it takes in for the first time in nearly 40 years. Medicare’s hospital insurance “trust fund” is expected... Read More »
Is REIT Financing an Anachronism?
REIT have recently run into problems with their skilled nursing tenants failing to make lease payments because of the rent escalators rising faster than their profits. REITs have received much of the ire for this, but, is that fair for such a historically successful financing option? Read More »
Disrupters and Other Game Changers
The annual Senior Living Innovation Forum kicks off this weekend, and it is a great meeting to talk openly about how we can do things differently, and better, to both survive and thrive. I am heading out to the annual Senior Living Innovation Forum this weekend, and I just can’t wait. It is relatively small, around 200 people, and is designed to be an open discussion with C-suite executives in a casual format. But the discussions focus on ideas that may shape the industry in the future. Or disrupt certain aspects of it. Or lower costs in an environment where many providers are being challenged both with costs and with revenues. I have been tasked to lead a session called “Capital vs.... Read More »
A HUD Debacle With SNFs?
One major default is used to blast a very profitable arm of the government. I don’t know if anyone noticed the June 3 lead article in The New York Times business section, but the reporter, Matthew Goldstein, should have talked to more people. One company, Rosewood Care Centers, defaulted on $146 million in loans secured by 13 skilled nursing and assisted living facilities in Illinois and Missouri. According to the story, it now demonstrates the “problems plaguing the HUD program.” Plaguing? Give me a break. Yes, it may have been likely that the buyer of these facilities in 2013 had few financing options given the two states’ reimbursement history, but that is one reason why HUD is supposed... Read More »
Flashback Friday: Brookdale Becomes King
Oh, how times have changed. And the mighty have fallen. Taking a look at the June issue of The SeniorCare Investor from 2006, what headline appears? “Brookdale Becomes King: Changing the Face of Seniors Housing.” Hindsight is 20/20, but there were already warning signs of Brookdale Senior Living’s bust as it was in the middle of a meteoric rise. Debuting on the New York Stock Exchange in November 2005 at $19.00 per share, Brookdale went on an acquisition spree in the months afterwards, culminating in its May 2006 acquisition of American Retirement Corporation for $33.00 per share, or $1.2 billion plus assumed debt and leases. Also coming along with the deal was ARC’s CEO Bill Sheriff, who... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
