• Interview with Bryan Lockard of JLL Value and Risk Advisory

    Ben Swett, Managing Editor of The SeniorCare Investor, sat down with Bryan Lockard of JLL Value and Risk Advisory to discuss JLL’s 2024 Seniors Housing and Care Investor Survey and Trends, which you can download here. Read More »
  • Wow…Sonida Senior Living

    The last company in our sector, Sonida Senior Living, finally reported fourth quarter and full-year 2023 earnings, and while pretty good, that was not even the story. The story started four weeks ago. In February, the company announced a series of capital transactions which reduced their debt, raised some equity, and provided liquidity to take... Read More »
  • Marcus & Millichap Arranges SNF Leases

    After purchasing four senior care campuses in a large portfolio deal, a seniors housing owner/operator turned to Marcus & Millichap to find new tenants for the skilled nursing portions of each newly acquired campus. Each building was losing close to $1 million annually and had struggled with occupancy and expenses.  While the portfolio... Read More »
  • LSS Absorbs Diakon

    Two large not-for-profits announced that they were combining to create the 12th largest not-for-profit senior living organization in the country. Lutheran Senior Services, based in St. Louis, Missouri, signed an agreement to bring Diakon Senior Living operations and four CCRCs under its umbrella. Both organizations were described by Adam Marles,... Read More »
  • SNF Under Receivership Is Acquired in Kansas

    Marcus & Millichap was brought on by a limited liability company in the sale of a skilled nursing facility in Topeka, Kansas, that was under receivership. The facility, Providence Living Center, comprises 78 beds across 24,000 square feet and focuses on senior residents with mental health needs. Rod Llanos and Colby Haugness handled the... Read More »
Is Brookdale Prepping For The Sale?

Is Brookdale Prepping For The Sale?

As you may know, we were never a fan of Brookdale Senior Living’s acquisition of Emeritus, and we are still not a fan of any company in the space operating 500 or more communities, let alone 1,000. It is just not that easy, and while we do not fault management for having a hard time of it, we do fault management for getting to the size it is. At least, the management responsible for the growth, and not the people trying to work things out. Brookdale announced its first quarter earnings, and investors seemed to like what they saw and heard. They ignoredthe same-community decline on occupancy of 100 basis points to 85.7% year over year, as well as the 80 basis point sequential decline. The... Read More »

A Message From The Editor

It’s been a great 30 years writing The SeniorCare Investor… It is with mixed emotions that I am announcing my retirement effective the end of this year when I will qualify for Social Security payments. I have had a good run for the past 30 years writing about the seniors housing and care industry, and while some of you may miss my musings, I am sure others will not. If you can believe it, when I got in this business in 1986, I was also brokering senior care properties. Unfortunately, not as many as I would have liked, so I turned to my pen, which over the years became my keyboard. And boy did I enjoy writing some of the stories. As you know, I liked to call it like I saw it,... Read More »

Build up downtown

We have heard from some that there is a huge opportunity for urban seniors housing, with more seniors, and eventually (and we mean years down the road) desiring to live in a downtown setting, surrounded by shops, restaurants and entertainment outside of their own building. A few examples of developers looking to satisfy this in a big way are The Clare of Water Tower (the 53-story CCRC in Chicago that cost approximately $270 million to build) and Maplewood Senior Living’s latest development in Manhattan (with 20 stories and 214 units at a cost of $246 million), to name a couple. Columbia Pacific Advisors, a Seattle-based alternative investment firm, is now planning a 24-story, 237-unit... Read More »

NHI’s new CEO

National Health Investors (NHI) has found its new CEO following the much publicized departure of its former chief executive, Justin Hutchens, who took over the CIO job at HCP (and dare we say the top job in a few years?). Effective October 5, Eric Mendelsohn was tapped as NHI’s CEO after already serving as interim CEO since the beginning of August. Before joining NHI as Executive Vice President of Corporate Finance in January 2015, Mr. Mendelsohn was previously at Emeritus, where, as SVP of Corporate Development, he led the way in such large transactions as the $3 billion joint venture with Blackstone and the $278 million Summerville merger. Our congratulations to Eric, well... Read More »

Mourning Granger Cobb

We mourn the passing of Granger Cobb, the former CEO of Emeritus and Board member of Brookdale Senior Living. Granger spent almost his entire career serving the needs of the elderly, starting with his first company, Cobbco, Inc. While he lost his fight against cancer, his spirit will live on in the senior living professionals he nurtured over the past 30 years. He is survived by his wife of 31 years and two daughters. A celebration of his life will be on October 24. Read More »