


Sabra and Sienna Senior Living Join Up In Canada
Sienna Senior Living has announced a strategic joint venture with Sabra Health Care REIT to purchase a $243 million (C$307.5 million) portfolio of eleven private-pay retirement residences in Ontario and Saskatchewan. This will be Sienna’s first venture into the Saskatchewan retirement market, with four of the 11 properties located in the province. The other seven properties are in various cities in the Greater Toronto Area of Ontario, where Sienna already maintains properties. Extendicare Inc. is the seller, and the portfolio represents all of its currently owned private-pay retirement properties in Canada. Both Sienna and Sabra will have 50% ownership of the high-quality, entirely... Read More »
Sabra Health Care REIT Resets With Major Tenant
The healthcare REITs and their triple net lease tenants, as well as their RIDEA managers, have had a tough two years. Some companies have been forced out of business completely, others have lost a portion of their portfolio, but many others have been able to work things out with their landlords. Such appears to be the case with Sabra Health Care REIT and Avamere Group. Our feeling has always been if you like your provider and do not think someone else could have done a better job, especially during this pandemic, then stick with them and work out a plan. Avamere is a substantial company, with 62 properties in eight states and a combination of skilled nursing facilities and... Read More »
Several Companies Report August Occupancy Gains
Several companies have released occupancy updates for the month of August, and there were some mixed results. However, for the most part, these top players reported large basis-point gains over several months, and even between July and August. This consistency among businesses bodes well for a return to normalcy in the skilled nursing and seniors housing industries. After announcing their agreement to provide Recovery Centers of America with a $325 million mortgage loan this week, Sabra Health Care REIT, Inc. reported occupancy gains across several of their portfolios. Among their top eight skilled nursing operators, they have seen a 554-basis point increase between late December 2020 to... Read More »