The Good and the Bad of NIC’s Latest Occupancy Numbers
Fourth quarter occupancy may have been flat, but it is sure to decline in the early part of this year. We need to find new ways to deal with it. What great timing, with NIC’s occupancy and construction numbers just released for the fourth quarter, given our webinar tomorrow. Here’s the good news. Occupancy was stable in the fourth quarter, and new construction as a share of existing inventory, while still high at 6.0%, is 130 basis points off its recent high in the fourth quarter of 2017. And, at long last we seem to be reaching equilibrium between new supply and demand. The bad news is that assisted living occupancy is still low at 85.4%, and while unchanged from the third quarter, was... Read More »
Capital Senior Living’s New CEO
The day after it was announced that Kim Lody had been appointed as the new CEO of Capital Senior Living, we had the opportunity for a little one on one with her. Since she has been a director for the past four years, she was obviously well versed in the company’s issues and opportunities. But when asked why shareholders should be confident in her moving forward as CEO when she was a director during the largest collapse in shareholder value ever for the company, she had a decent response: “I wasn’t the CEO, so I had limited influence.” Well, now she is, and the buck will stop with her. The good news for shareholders is that she has a very strong background in sales and marketing, which is... Read More »
Maximizing Occupancy in 2019
If you want to increase your occupancy, cash flow and value, you will have to listen to this upcoming webinar. We are now at the start of a new year, and a new flu season, so all eyes will be on what this year’s flu season will do to occupancy levels. But if you wait and are reactive to something you have little control over, then it will be too late. Flu season aside, occupancy has been one of the major topics in the industry for the past few years. But there are reasons why some communities are at 100% year in and year out, and others can’t get above 80%. Join me next Thursday, January 17, for our 2019 kick-off webinar on Building Occupancy and Value in Seniors Housing. You will learn... Read More »
Omega Healthcare Investors Snags Small REIT
Omega agrees to buy MedEquities Realty Trust in a cash and stock deal worth $632 million plus assumed debt. I hope everyone had a good break these past few days. Everyone, that is, except the folks at Omega Healthcare Investors and MedEquities Realty Trust (MRT). Omega announced today that it is buying MedEquities in a stock and cash transaction valued at about $633 million plus $265 million of net debt. Shareholders are receiving a very healthy 50% premium. MRT owns 34 facilities in seven states with 2,755 beds run by 10 different operators. About 75% of the beds are skilled nursing with some assisted living, and the remainder is a smattering of LTACs, IRFs, behavioral health and an MOB.... Read More »
Jingle WELLs
‘Twas the night before NIC… ‘Twas the night before NIC And all through the building Not a broker was stirring. Not even brothers Hilding Multifamily developers had forgotten to take their meds While visions of loose money danced in their heads And KBG in her kerchief, and Lerner in his cap Had just settled down for one last look at NIC Map When down in the bar, there arose such a clatter Arnie Whitman sprang into action to see what was the matter Michael and John had just stepped into the ring To see which one had the best swing The swoon of the WASH members was too much to bear As everyone lost interest and headed for the stair When, what to a... Read More »Schedule a demo
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