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.
Although not the reason behind Healthpeak Properties’ planned exit of its senior housing operating and triple-net lease portfolio businesses, COVID-19 certainly served as a catalyst for a full exit, CEO Thomas Herzog said Tuesday during the real estate investment trust’s third-quarter earnings call.
Irvine, CA-based Healthpeak Properties is making good on its previously indicated intentions of a potential exit of its senior housing operating portfolio and triple-net lease assets. The real estate investment trust announced Monday in its third-quarter earnings release that it is in various stages of selling more than $4 billion worth of seniors housing properties.
Irvine, CA-based Healthpeak Properties is reportedly considering moving its headquarters. According to the Nashville Business Journal, the real estate investment trust is eyeing a move to Nashville, TN. Denver and Dallas are also under consideration by the firm, according to articles in the Dallas Business Journal and Denver Business Journal.
Irvine, CA-based Healthpeak Properties told investors this week that the firm is eyeing a potential exit of its senior housing operator portfolio and triple-net lease assets, if the pricing is right. The remarks from CEO Thomas M. Herzog came during a presentation Wednesday at the Bank of America Merrill Lynch 2020 Global Real Estate Virtual Conference.
Brookdale Senior Living remains the largest operator of senior living communities on an American Seniors Housing Association’s ASHA 50 list for 2020 compared with 2019, and Welltower remains the largest owner of senior living communities on a companion list. The annual rankings were released Wednesday.
Senior housing average daily census rates within Irvine, CA-based Healthpeak Properties fell to 76.8% in August, dropping 0.9% compared with July, according to an investor presentation posted by the real estate investment trust Thursday. The decline was actually significantly smaller than the firm’s prediction of a 1.5% drop in August.
Argentum’s 2020 Largest Providers Report list increased by 10 this year to include data on 150 senior living providers.
Tiny home manufacturer partnering with Vancouver Housing Authority to build alternatives to assisted living … Fargo, ND, makes list of Forbes “Best Places to Retire” for 10th year in a row … Healthpeak selling Kentucky properties owned by Atria Senior Living … Investcor, Integral to build Nevada seniors housing community … Bethesda to open seniors housing community in Minnesota
The majority of Healthpeak Properties’ future growth will be in the life sciences and medical office buildings, and a potential exists that the real estate investment trust will reduce its investment in senior housing, executives said Wednesday during a second-quarter earnings call.
