Coronavirus / COVID-19 - McKnight's Senior Living

Coronavirus / COVID-19

Pandemic effects ‘pronounced,’ but business drivers ‘firmly intact,’ Welltower says

The pandemic, as expected, had a “pronounced” effect on Welltower’s financial results in the second quarter, especially those results related to senior living and skilled nursing, Chairman and CEO Tom DeRosa said Thursday on the real estate investment trust’s latest earnings call. “However, what we can say with great certainty is that the long-term drivers of our business remain firmly intact,” he said.

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Diversified, Five Star: COVID-19 creating ‘extremely challenging operating environment’ for senior living

The COVID-19 pandemic has increased uncertainty and disruption in both the overall economy and the commercial real estate industry and has had a “profound” effect on business, resulting in an “extremely challenging operating environment,” Diversified Healthcare Trust and Five Star Senior Living executives said Thursday on second-quarter earnings calls.

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Private-equity group’s buying spree continues, despite pandemic

Over the past four years, New Jersey-based Portopiccolo Group has been building a nursing-home portfolio rivaling some of the nation’s largest chains. The firm acquired its first skilled nursing facility in 2016, and today it owns or operates approximately 100 facilities under dozens of different names, including Accordius, Pelican Health, and Orchid Cove, according to an analysis in Barron’s Thursday. The majority of these facilities, the report noted, have only come under Portopiccolo’s ownership 2019.

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