LTC Properties has completed the divestiture of its Preferred Care holdings months ahead of schedule, the Westlake Village, CA-based real estate investment trust announced Thursday.
Toledo, OH-based real estate investment trust Welltower announced several steps late Wednesday that the firm has taken in recent weeks to strengthen its balance sheet and enhance its liquidity profile.
The American Health Care Association/National Center for Assisted Living released a series of frequently asked questions and answers about the Medicare Accelerated and Advance Payment program Thursday, to supplement the Centers for Medicare & Medicaid Services fact sheet on the topic.
REIT share prices plunge in the first quarter amidst coronavirus outbreak … Bellwether Enterprise closes deal for Kentucky senior living community … SLIB facilitates sale of Oregon memory care unit … Jobless claims hit historic high of 6.6 million last week.
Smaller senior living and skilled nursing operators overwhelmed by the financial fallout from the coronavirus pandemic can soon tap into a federal bailout fund to pay bills and keep workers on the payroll—and if they meet the requirements, operators won’t need to make repayments.
Employees at the Evangelical Lutheran Good Samaritan Society are receiving a boost in their April paychecks in response to the financial challenges many are facing amidst the COVID-19 pandemic.
A new study co-authored by an MIT economist shows that taking care of public health first helps generate a stronger economic rebound later.
Coronavirus construction limits: A state-by-state tracker … Fitch affirms several seniors housing REITs, downgrades others … Newmark sells SNF portfolio … U.S. companies shift to online annual shareholder meetings due to coronavirus
With most senior living and long-term care facilities restricting visitors and asking residents to stay in their rooms alone for most of the day, some families have decided that their older adult loved ones might be better off moving out of these settings and back into a family home during the COVID-19 pandemic, according to an article published Monday on CNN.com. Industry groups don’t agree.
Ventas announced Monday that it is offering a 25% deferred rent payment for April for its operators in triple-net leases — about 20% of its portfolio by net operating income.
2019 was a reset year for Dallas-based Capital Senior Living as the company focused on strengthening fundamentals and preparing for long-term success, according to President and CEO Kimberly Lody, who spoke Tuesday on the senior living provider’s fourth-quarter 2019 and year-end earnings call.
Report: Nearly half of seniors and their adult children are concerned about stock market turbulence due to COVID-19 pandemic … Boston Financial closes $205M multi-investor fund financing seven senior living communities … Monticello provides financing for Virginia SNF … Dougherty Mortgage provides HUD loan for Minneapolis seniors housing community
On Saturday, the Centers for Medicare & Medicaid Services announced that it is expanding its accelerated and advance payment program for Medicare providers to ensure that they have the resources to fight COVID-19. The move was part of the Coronavirus Aid, Relief, and Economic Security Act, which President Trump signed into law on Friday.
The Department of Labor released updated questions and answers regarding the Families First Coronavirus Response Act Saturday, and provided guidance categorizing senior living providers as “health care providers” under the act. The move means operators will be excluded from requirements that certain companies with fewer than 500 workers provide up to 12 days of paid leave for employees who need to care for children due to school closures.
In light of the current economic conditions, the Board of Directors for Capital Senior Living on Monday approved a temporary suspension of equity awards to any director or officer of the company. The Compensation Committee also reported that it would not increase the annual base salaries of Capital Senior Living’s executive officers for 2020.
More seniors housing buyers opting for self-managed units … Vi partners with hotels to provide jobs for displaced hospitality workers … Insurance premiums could spike as much as 40% next year … Government office closures force stoppage of many commercial deals
Senior living residents and their family members have a better perception of the quality of care that operators are providing during the COVID-19 pandemic than do those who aren’t connected to senior living, according to a new survey.
Healthcare organizations around the nation are scrambling to stay on top of the COVID-19 pandemic. Many facilities are finding that adequate staffing — a hurdle in the best of times — has become a monumental challenge.
Senior living communities may have some new competition as the coronavirus pandemic continues to spread, according to an article in BisNow.
U.S. consumer sentiment falls by most since 2008 … Construction companies lobbying to keep working through pandemic … Hedge Fund billionaire: Shut down the economy for a month … Fed officials remain optimistic but admit to some uncertainty
Patience and information sharing will be essential for senior living organizations hoping to survive this ongoing pandemic, so claimed panelists during a webinar Thursday focused on COVID-19 and financial market uncertainty. The hour-long presentation was hosted by the National Investment Center for Seniors Housing & Care.
Many patients with COVID-19 will need postacute care to recuperate from their infection. However, postacute care facilities currently lack the capacity and capability to safely treat patients with COVID-19 as they transition from the hospital to other care settings or to their homes, according to an article published in JAMA Thursday.
Many private equity firms are turning their attention away from mergers and acquisitions to focus on the needs of its current portfolio holdings amid the market’s uncertainty around the coronavirus pandemic, according to an article in S&P Global Market Market Intelligence.
U.S. stocks jump as coronavirus stimulus bill offsets dismal jobless-claims report … Fitch webinar panel: COVID-19 elective surgery delays will put pressure on short-term rehab facilities … Hospitals, nursing homes warn of closures in Pennsylvania
Investors who purchased stock in Brookdale Senior Living five years ago have seen their shares in the company fall by 91% during that time, according to an analysis posted Wednesday by Simply Wall St. While the company’s share price gain of more than 57% in the past week might indicate the beginnings of a recovery, it’s unclear — particularly in this era of COVID-19 volatility — whether the increase is indicative of a more long-term recovery.
Sabra Health Care REIT, Inc. announced Wednesday that it is resetting its quarterly dividend to $0.30 per share for the dividend expected to be declared in May of 2020, in response to the current economic environment.
Affinity Living Group furloughed 70 corporate employees and let go of several company leaders including Neil Lail, its chief operating officer Monday.
Ventas CEO shares thoughts on how the coronavirus is impacting the senior living industry … Resources are available from the EEOC and DOL to help employers during COVID-19 … Senate’s $2T economic stimulus bill delayed again … Mountain West Commercial brokers sale of Utah seniors housing development site
Before the coronavirus pandemic took over the U.S. economy, the seniors housing and care market was as a roll, according to data released Monday from Norwalk, CT-based Irving Levin Associates. The average price per unit in assisted living increased to a record $248,400 in 2019, pushing it 12% higher than the previous high of $221,250 per unit in 2017. Skilled nursing bed prices reached $93,000 per bed last year — just the second time bed price values have reached that high.
More than three-quarters of chief financial officers in the United States and Mexico are worried that the coronavirus pandemic will lead to a global recession, finds a pulse survey released this week by PwC.
U.S. stocks closed ahead on Tuesday, buoyed by optimism about the government’s response to the coronavirus crisis and reports of a potential Senate vote Wednesday on the stimulus bill.
Senior living industry associations make plea for coronavirus-related bailout … Furloughed hotel workers offered access to jobs in long-term care … Greystone provides financing for Mississippi and Tennessee senior living communities … Generations Healthcare purchases San Diego SNF
The coronavirus has not negatively affected senior living community move-ins to date, according to the results of a newly released survey conducted by Activated Insights in conjunction with the National Investment Center for Seniors Housing and Care. In fact, in some cases, occupancy has seen a recent improvement.
Wall Street took another hit Monday despite a historic commitment by the Federal Reserve to buy as much government-backed debt as needed to keep financial markets functioning. The central bank unrolled a series of programs Monday meant to shore up both large and small businesses in its latest effort to cushion the economic blow of the pandemic.
A nearly $2 trillion coronavirus economic stimulus package failed to advance in the U.S. Senate on Monday with Democrats arguing that the bill did too little to help ordinary Americans and ensure that federal money would not be abused by businesses that received aid, according to Reuters.
The Ensign Group declares quarterly dividend … More U.S. employees willing to sacrifice pay for better health and retirement benefits … LTC CEO confirms conservative balance sheet with high liquidity … SLIB arranges sale of Arizona SNF
U.S. stocks fell Friday despite ongoing measures to contain the coronavirus disease 2019 (COVID-19) pandemic, capping off the worst week for the Dow Jones Industrial Average and S&P 500 since October 2008, the Wall Street Journal reported.
In most parts of the country, the construction industry remains largely open, with many reports coming in of work sites continuing to operate, even as many other businesses are shutting down to prevent the spread of the coronavirus.
The coronavirus pandemic continued to upset the U.S. real estate sector last week, with no property type left untouched — even those that investors considered safe in normal times, according to a report by S&P Global.
CareTrust REIT announces $150 M share repurchase program … The financial markets set these seven records last week … Coronavirus leads U.S. to extend tax filing deadline to July 15 … New York senior community gets refi from Freddie Mac