Assisted Living “Lite” Or Not

by | Mar 30, 2016 8:33 am | 60 Seconds, Opinion

Whether you think you operate your assisted living community under a hospitality model or a healthcare model, there will only be more health care in the future. Recently, there have been some stories in the senior care media about the hospitality model for assisted living compared with the healthcare model. That was a big debate in the late 1990s when 20 assisted living companies went public as some companies didn’t want to be labeled as “healthcare” companies, with all the regulatory and reimbursement baggage that comes with it. Some preferred to call the hospitality model “assisted living lite.” In fact, the founder of Sunrise Senior Living was famously quoted as saying Sunrise did not... Read More »

Welltower builds up

by | Nov 4, 2015 8:49 am | Acquisitions

When Welltower announced its Q3:15 earnings, they revealed a host of seniors housing transactions closed in that period, totaling $361 million in investments. The largest purchase was for three seniors housing properties in Colorado (2) and Utah (1), with a combined 461 units. Welltower paid $155 million, or $336,200 per unit, for the properties, which are all managed by the company’s new operating partner, Leasure Care. There is a new master lease with a corporate guarantee, 6.0% initial yield and 3.0% annual escalators. The properties are expected to have a 1.1x stabilized lease coverage ratio after management fee. For the other third quarter acquisitions, prices ranged from $15 million... Read More »

Seniors Housing Census Woes Continue

by | Jul 29, 2015 8:34 am | 60 Seconds, Opinion

Brookdale Senior Living is not the only one with some recent census declines… The next few weeks will be very telling in terms of the direction of some of the major seniors housing companies. All eyes will be on Brookdale Senior Living next week as it announces second quarter results and whether it has reversed its downward occupancy trend. Brookdale’s stock price is down about 15% since June 1 and is at its lowest level in more than eight months. Those activist shareholders must be going nuts. We know NIC MAP indicated a tough second quarter in general, and we also know that the Atria Senior Living and Sunrise Senior Living properties in the Ventas stable posted a combined 40 basis... Read More »