Welltower Continues To Outperform
Welltower announced its third quarter earnings results, and they were better than even the most optimistic investors thought they would. Probably better than what CEO Shankh Mitra thought they would be six months ago. Everything is up, and while not where the numbers were a few years before Covid, the performance is better than most. Same-community occupancy in their SHOP portfolio grew by 310 basis points year over year and RevPOR grew by 4.9%. And same-community NOI increased by 300 basis points. The REIT completed $2.4 billion in gross investments, and it has an acquisition pipeline that would make the other REITs blush. But don’t forget, it has nothing to do with their cost... Read More »
Third Quarter Investor Call
The Third Quarter Investor Call, sponsored by NewPoint Real Estate Capital and moderated by Ben Swett, Managing Editor of The SeniorCare Investor, featured a panel of lending experts who offered their capital markets advice to borrowers in several different scenarios: M&A deals, refinancing troubled assets, the costs of construction lending today, and more. The panel included Nick Gesue, CEO of NewPoint, Zach Britton, Director – Originations of Locust Point Capital and Matthew Whitlock, Head of Senior Housing Investments of Berkshire Residential Investments. Read More »
60 Seconds with Swett: What Could Stop the M&A Momentum?
Last week, we recorded our 560th deal of 2024, which breaks the annual record for M&A volume across seniors housing and skilled nursing transactions. And we have more than two months to go. So there can be no dispute that we will set an M&A record this year, and by a large margin. But could 2024 actually end with a whimper? We ask that because the 10-Year Treasury rate, which fell to 3.6% in September, the lowest level in more than a year and a half, is now above 4.2%, or the highest level since July. Much of the optimism at the NIC conference last month hinged on the Fed’s 50-basis point rate reduction in September and the 10-Year rate was at its low then too, but what about now?... Read More »
Brookdale and the Golden Age
A lot has been made recently of the looming Golden Age of seniors housing. An analyst at Jefferies & Co. came out with a strong recommendation of Brookdale Senior Living and its potential to take advantage of the upcoming age wave. They referred to Brookdale as the leading senior living provider well positioned for this. A more accurate description would be the largest senior living provider. It did not matter, as the share price jumped by 12% during the day on very heavy volume. But we have seen this movie before. To take advantage of the Golden Age a few things have to happen, and one is to negotiate a new lease for its 121 properties with Ventas that will provide more cash flow to... Read More »
Do Elections Matter?
In less than three weeks we will be having an election that could set the stage for what happens in the country for many years to come. Or not. There is always a lot of fearmongering over what one candidate will do compared with the other. Usually, change comes slowly, or not at all. As is usually the case in presidential elections, there is little talk about senior care, other than the growing costs of entitlements, with no reasonable solutions coming from either side. It is a topic that is easily avoided, and we are tired of the lip service. But in Washington State, there are several initiatives on the ballot, one of which involves taxes and LTC insurance. You will remember that... Read More »Schedule a demo
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