Ventas Announces Q4 Earnings
Ventas announced its quarterly and annual earnings report, and we were interested to learn that the REIT has acted on nearly two-thirds of its seniors housing portfolio via acquisition, disposition, development, lease resolution or operator transaction since 2020. The pandemic spared few communities, so that level of portfolio management really required all hands on deck. And the pain isn’t over for many properties, unfortunately, with more distress almost certainly set to hit the market in 2022. That will mean even more dispositions, value-add acquisitions and lease/operator restructurings from Ventas. Activity in 2021 included nearly $2.6 billion in acquisitions of independent... Read More »
Ventas Divests Atria Senior Living Portfolios
Ventas has sold a few portfolios of its Atria Senior Living-operated properties, with the deals closing just before the end of the year. Totaling 23 properties, these were mostly Class B, older vintage communities with some room for operational improvement, but perhaps Ventas also wants to diversify its tenant base a bit, especially after Atria’s massive growth in 2021. The portfolios total around 2,600 units. JLL Capital Markets’ Mike Garbers and Ted Flagg handled the divestments, while Joel Mendes handled the acquisition financing for the buyer. Starting in the Northeast, news trickled out in December that the REIT had sold six properties to Peregrine Senior Living and an affiliate of... Read More »Ventas Reports an Up and Down Quarter
Several publicly traded REITs announced their third quarter earnings results at the end of last week, and the results were a mixed bag. Welltower released some very positive occupancy news, as well as four major portfolio acquisitions, signaling its confidence in the seniors housing industry. On the flip side, WELL’s total portfolio same store NOI declined 5.3% year over year, and 7.1% from the previous quarter, while its operating margins and lease coverages continued to deteriorate. For more details on the REIT’s third quarter results, read about them here. Ventas followed soon afterwards with its own earnings release, and there was also both good news and bad. The company reported its... Read More »
Eclipse Senior Living Transitions More Properties
Eclipse Senior Living has transitioned more of its properties to other operators. A Discovery Senior Living and Ventas joint venture first announced the rebranding of 19 former Elmcroft Senior Living communities, which have been reallocated across Discovery’s national and regional brand companies. Many of these communities, which span multiple states, have transitioned from Eclipse’s Elmcroft brand to Discovery’s TerraBella brand, while Ventas will continue to own the properties. The deal results in the TerraBella’s transformation into a regionally-focus, wholly-owned subsidiary management group for Discovery, while giving rise to two new regional brands entitled SummerHouse and... Read More »Schedule a demo
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