Healthpeak Properties announced Monday that it has closed a new $3 billion senior unsecured revolving credit facility, which increases Healthpeak’s total revolving commitments from $2.5 billion to $3 billion while reducing the real estate investment trust’s borrowing costs.
Healthpeak Properties continued its substantial exit from rental senior housing in the second quarter, as well as a strategic acquisition and development pipeline across all of its business segments, CEO Thomas Herzog said Wednesday during a second-quarter earnings call.
As Healthpeak Properties continues to divest from the senior housing market except for continuing care retirement communities, the real estate investment trust closed on an additional $249 million in senior housing sales and $19 million of loan repayments in the second quarter, the company reported in its earnings call Wednesday.
Major market changes, post-COVID-19 disruption and the progress of women in leadership are highlights of a recent report about the largest for-profit senior living providers.
Sabra Health Care REIT has yet to reach a decision about its joint venture with private equity firm TPG Real Estate, through which it has a 49% stake in a portfolio of dozens of Enlivant senior living communities, CEO Rick Matros said yesterday at Nareit’s REITweek 2021 Investor Conference. “In all likelihood,” however, he said, “our preference is going to be to exit the portfolio. The pandemic changed everything.”
Legislation shields nursing homes from COVID-19 lawsuits … Nursing homes, unlike hospitals, still need CON approval in Florida … Assisted living placement and referral service sees growth in spite of pandemic … Healthpeak Properties announces early tender results
With the “grips of the pandemic” easing considerably over the past few months, and a 93% vaccination rate among its residents, Capital Senior Living President and CEO Kimberly Lody said signs of recovery are evident in the senior living business.
Healthpeak Properties continued its exit from most senior living with the sale of $1 billion in assets in the first quarter, with an additional $400 million in deals under hard or soft contract.
Healthpeak Properties reported funds from operations as adjusted Tuesday of $217.3 million, or 40 cents per share, for the first quarter of the year, slightly surpassing analyst estimates.
The key to senior living industry recovery is a return to pre-pandemic occupancy levels, coupled with continued government support for operators, according to Taylor Pickett, CEO of Omega Healthcare Investors.
