Institutional investment and development firm Oxford Capital Group, together with its joint venture partner, has made a large investment in the Canadian seniors housing sector, acquiring a portfolio of six private pay communities located throughout Ontario. These communities provide both independent living and supportive living services throughout the 645 total units. They are located in […]
Looking outside of the U.S. seniors housing market, it’s obvious that the sector is a popular target in markets around the world. Just look at Ventas’ doubling down on the Canadian seniors housing market with its C$2.4 billion portfolio acquisition of 31 retirement communities in Quebec earlier this summer, nearly doubling its portfolio from 41 […]
Everyone is talking about development slowing down, but over development is just part of the problem. We have been hearing it for a few months: seniors housing development is slowing down, based on fewer new construction starts. We have heard it from NIC MAP, from HCVenTower, and now Brookdale Senior Living. They are all saying […]
Ventas (VTR) was the first one out of the block to report second quarter earnings, and while the results were about as expected, on the seniors housing and care side the turnaround has still not arrived. In fact, the second quarter was disappointing but not unexpected, given all the quiet industry talk about census, margins […]
The Big-3 REITs are back as buyers, with Ventas making the biggest splash of them all by acquiring 31 senior living communities in Quebec for approximately C$2.4 billion, or US$1.8 billion. Made in an 85/15% partnership with the in-place operator, Le Groupe Maurice, the acquisition is expected to generate compound annual NOI growth of 4% […]
Brookdale Senior Living has agreed to sell its trophy community in New York City at a record price to Ventas, but will keep the management. Anyone who heard former Brookdale Senior Living CEO Mark Schulte address the ASHA annual meeting in the aftermath of 9/11 will never forget it. He talked about their newest project […]
Two major REIT CEOs can see seniors cap rates moving below multifamily for the first time. The Big Two REITs have reported their second earnings, and while occupancy and labor costs certainly remain an issue for their operating partners, there was one funny comment that came out of the calls. Well, funny if you get […]
Ventas has officially transitioned management of its Elmcroft portfolio to newly-formed Eclipse Senior Living. It is now official. The operations of the Elmcroft Senior Living portfolio of 76 properties, with the real estate owned by Ventas, has officially been transferred to Kai Hsiao’s new company, Eclipse Senior Living. Ventas has acquitted a 34% interest in Eclipse, with the […]
It all started when HCP, Inc. completed a series of rent negotiations with HCR ManorCare, but to no avail. It just wasn’t enough for a long-term solution, and they ended up spinning the HCRMC portfolio into a new entity (Quality Care Properties) that was supposed to be a REIT but may end up not being […]
Finally, we have had some good news from the two largest publicly traded senior living companies, Brookdale Senior Living and Capital Senior Living. Let’s just say, it has been a long time coming. Capital Senior Living reported a sequential increase in occupancy of 30 basis points in the third quarter, an increase that was continuing […]