Skilled Nursing Staffing Woes
Another front page New York Times story highlighting problems with skilled nursing facilities. I am sure many of you saw the recent New York Times article about understaffing in the nation’s nursing facilities, particularly on the weekends. The new methodology used, based on actual payrolls obtained by Medicare, indicates that staffing is 12% lower than using the previous methodology, which was based on self-reporting. The article used one small nursing facility in New York as an example of weekend staff shortages. Anecdotally, my next-door neighbor’s mother was in a local assisted living community operated by a prominent national chain, and she always complained about the “Sunday dump... Read More »
To Be Public Or Not
There are a lot of people who do not believe seniors housing and care companies should be publicly traded. It is not appropriate to try to manage quarterly revenues and profits when you are taking care of older, frail residents. And don’t forget the earnings disruptions that can be caused by new developments and the ongoing depreciation expense if you own your real estate. It is just difficult to please investors and analysts with all the variables, including external ones that you have no control over, or so the argument goes. And then there is the roller coaster of daily stock prices. Take Genesis Healthcare, as an example. This past Monday, its price plunged by as much as 19% on trading... Read More »
Will Brookdale Be Back In Play?
With agreements nailed down with its major REITs, buyers may start sniffing around again at a leaner and more profitable Brookdale. The announcement last week during the ASHA mid-year meeting, that Brookdale Senior Living had come to several agreements with Welltower on their various leases, was met with relief and renewed optimism for the seniors housing sector. Last Friday we reported on the details of the agreements, but most people we spoke with were hoping that as Brookdale’s financial pressures ease, the negative sentiment it had created for the industry will also start to dissipate. In addition, with the change-of-control roadblocks by the Big Three REITs now gone, always used as an... Read More »
Brookdale And Welltower Reach Agreements
Brookdale Senior Living continues to shrink, which is actually good news, and Welltower investors will be glad to see new operators to spread the risk. That is the result of a series of transactions agreed to by the two companies in a major end-of-quarter announcement. Too bad they couldn’t have done this a year or two ago, but maybe it is the new management at Brookdale. In the first of the transactions, Brookdale will pay Welltower $58 million ($14,164 per unit) to cancel leases on 37 communities with 4,095 units in two different lease pools. The leases had current negative cash flow after lease payments, and the projections were for there to be continued losses on them. They were to... Read More »
Berkadia Gets Boost From Two New Hires
Hoping to build on a successful 2017 that saw more than $1.7 billion in loans closed, Berkadia strengthened both its mortgage banking and investment sales teams with two new hires. First, joining the mortgage banking group was Brittany Robinson. With a Bachelors of Business Administration from Miami University, Ms. Robinson comes from Welltower, where she was responsible for business development initiatives, managing relationships with the REIT’s top operating partners and evaluating more than $5 billion in seniors housing, post-acute care and medical office investment opportunities. She will be based in Cincinnati, Ohio, and will report to Heidi Brunet. Then, Marcus & Millichap’s... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
