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Bad news: Pandemic’s effects ‘far from over’; Good news: $126.1M CCRC deal is ‘some of best real estate we’ve purchased,’ CareTrust execs say

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The bad news is that pandemic’s effects on senior living “are far from over,” CareTrust REIT Chairman and CEO Greg Stapley said Friday. The good news, however, is that the $126.1 million portfolio of continuing care retirement communities that CareTrust REIT closed on in March “represents some of the best real estate we have purchased since our start seven years ago,” Chief Investment Officer Mark Lamb said.

Contemplated senior woman sitting on wheelchair. Elderly disabled female is looking through window.
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FY 2022 SNF reimbursement proposal could weaken rent coverage for skilled nursing REITS: Mizuho

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Last week, the Center for Medicare & Medicaid Services released its 2022 fiscal year reimbursement proposal for skilled nursing facilities that includes a 1.3% boost to Medicare payments. The overall $444 million increase is substantially lower than the $750 million awarded for the 2021 fiscal year, noted an industry update analysis Monday from Mizuho Securities USA.

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Parkinson: ‘Green shoots’ indicate occupancy is troughing, but pace of recovery still uncertain

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The stocks of senior living and skilled nursing-focused real estate investment trusts have outperformed expectations since the first COVID-19 vaccine announcement last November raised hopes of a quick recovery. Yet despite the tremendous drop in COVID-19 cases at these facilities post vaccine rollout, challenges within both sectors still remain, Mark Parkinson, CEO of the American Healthcare Association and the National Center for Assisted Living said Tuesday during a keynote address to attendees of Mizuho’s second annual Healthcare REIT Summit.

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Companies

People in the news, Feb. 9

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Appointments, promotions and news at Arrow Senior Living, Bridges by EPOCH, Buckner Calder Woods, CareTrust REIT, Commonwealth Senior Living, Enlivant, Griffin Living, Juniper Communities, Kisco Senior Living, Legacy Healthcare Services, Ryan Companies, Retirement Unlimited Inc., SA Digital, SmartLinx Solutions, Solinity, Sunrise Senior Living, Ventas and Wartburg.

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BMO Capital Markets predicts elongated seniors housing recovery, changes outlooks for REITs

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Although the COVID-19 vaccines are expected to become more widely available as the first quarter continues, investment banking firm BMO Capital Markets is predicting an elongated recovery for the senior living industry, with cash flows not recovering to pre-pandemic levels until about 2025. That’s according to an analysis released Thursday by the firm.

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