More Good News from Welltower and Ventas
Census is on the rise at the SHOP portfolios of the biggest healthcare REITs. After more than a year of mostly depressing news, it is nice to see that more good news keeps on coming. With a year of canceled earnings forecasts by most public companies and REITs, Welltower announced that it raised the low end of its second quarter earnings per share estimate by nearly 10%, and its normalized FFO by just over 4%. Now that’s some good news! In addition, they had forecast a 130-basis point increase in their SHOP portfolio for the full second quarter, and by June 4th they had already reached 120 basis points. Spot occupancy is now 150 basis points higher than the pandemic low. Ventas is also... Read More »
Welltower Announces Investments, Credit Facilities & a New Hire
Welltower came out with a flurry of announcements yesterday, all significant and all seemingly good news. To start, John Burkart was appointed Executive Vice President, Chief Operating Officer and will start on July 19. Already ensconced in the REIT world, Mr. Burkart comes from the multifamily sector, having spent 25 years at Essex Property Trust where he rose to Senior Executive Vice President and Chief Operating Officer. At Welltower, he will assume responsibilities for platform-wide operations, asset and portfolio management, data analytics, research and joint venture partnerships, utilizing a data-driven approach to drive platform efficiencies, capital allocation decisions and... Read More »
The 55+ Market Builds Momentum
Coming out of the pandemic, investors are enamored with the 55+ or active adult market, but we will see if that enthusiasm turns into overexuberance. Perhaps the brightest star in seniors housing coming out of the pandemic has been the active adult market, and investors took notice. Census stayed strong relative to the other sectors, and owners tout their lower average move-in age, more approachable rents for residents, lower labor costs and higher operating margins. As a percentage of seniors housing deals announced, according to our deal database, active adult has grown its share from a paltry 2% in 2019 to 6.4% in 2020 and 8.2% so far in 2021. Plenty of firms have also announced... Read More »
Welltower Making Investment In 55+ Market
Welltower is diving into the active adult market with its new investment relationship with Treplus Communities, a Columbus, Ohio-based developer of high-quality 55+/active adult communities. Currently, there are three Treplus communities already open in central Ohio, and there are more in the works for 2021. Treplus also has eyes on expanding in the Midwest, and this partnership with Welltower will certainly help those ambitions. Treplus’ communities consist of 90 to 150 units that range from 1,200 to 1,600 square feet. Each community also features resort-style amenities such as a fully equipped gym, café, business center, billiards, liquor lockers and catering kitchen. The communities... Read More »Schedule a demo
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