


Ventas Buys New Senior Investment Group
Don’t you just love it when a plan comes together? Just when Welltower announced a deal to buy Holiday Retirement Corporation’s 86 owned assets, and Atria Senior Living agreed to buy Holiday itself, Ventas steps in and buys New Senior Investment Group. New Senior owns 77 Holiday-managed communities, 21 communities that have recently been switched from Holiday management to Atria, 15 other communities managed three other providers, and one large community triple-net leased to Watermark Retirement Communities. At the end of the first quarter, just four communities were managed by other companies, so things must have moved during the second quarter. Jay... Read More »
New Senior Investment Group Reports April Occupancy Bump
The good occupancy news keeps on coming from the first quarter earnings announcements, with New Senior Investment Group the latest to report an occupancy jump in April. After January occupancy ended down 80 basis points, February down 60 basis points and March down 20 basis points, sequential occupancy grew by 40 basis points in April to 80.6%, which was the company’s first occupancy gain since the pandemic began. There was more good news, with first quarter leads representing 103% of average 2019 volume, and April leads staying above 2019 levels as well. COVID-19 cases were also down to nearly zero, with one active resident case as of May 3 and four new resident cases reported in the... Read More »
A Holiday with Atria
Last week, as part of its earnings release, New Senior Investment Group announced that Atria Senior Living would be taking over management of 21 independent living communities managed by Holiday Retirement Corporation. From a diversification perspective, this makes great sense for New Senior because Holiday had been managing 98 of New Senior’s 103 properties. In the REIT world, that kind of tenant concentration is a no-no. Like most owners across the country, including Atria, the New Senior portfolio has seen its occupancy drop by 690 basis points in the past year. This is much better than the average for assisted living and skilled nursing, but as we... Read More »