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Investment

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Integral, Discovery Partner to Become Fifth Largest Operator in U.S.

by Jeff Shaw

CARLSBAD, Calif. — Funds advised by Lee Equity Partners LLC and Coastwood Senior Housing Partners LLC, two specialized investment firms, have made an investment in Integral Senior Living Management (ISL). As part of the investment, ISL will partner with Discovery Senior Living and form the fifth largest seniors housing operator in the United States. Lee Equity and Coastwood recently completed the recapitalization of Discovery Senior Living, which is led by CEO Richard Hutchinson. The investment in both companies by Lee Equity and Coastwood will create an opportunity to find synergies …

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AcquisitionsFrom The MagazineInvestment

Investors Hit the Brakes on M&A

by Jeff Shaw

After transaction volume rebounded greatly in 2021, sales fell 38 percent in 2022 as economic hardships mounted. By Jeff Shaw I get knocked down, but I get up again  You are never gonna keep me down  The lyrics to the song “Tubthumping” by former British rock band Chumbawamba are an apt description of the seniors housing industry because of its resiliency in the face of adversity over the past three years. The COVID-19 pandemic delivered the first blow in early 2020, leading to a rise in deaths at communities, declining …

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From The MagazineInvestment

ESG Rises in Importance

by Jeff Shaw

Investors and customers are increasingly drawn to companies that embrace environmental, social and governance policies, but the success of these initiatives hinges on transparency and authenticity. By Jeff Shaw A company could be forgiven for wanting to avoid developing and implementing an ESG (environmental, social and governance) strategy. Enacting concrete policies to address the desired goals in these areas, then tracking and reporting results to stakeholders, is a time- consuming and costly process. For background, the “environmental” piece of the equation relates to how a company operates in a way …

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AcquisitionsCompany NewsInvestmentNewsOperations

LTC Seeks to Sell, Transition 35-Community Portfolio as Brookdale Elects to End Lease

by Jeff Shaw

WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC ), a REIT that primarily invests in seniors housing and healthcare properties, has announced plans to diversify its portfolio through the transition and possible sale of some of the properties in its Brookdale Senior Living (NYSE: BKD) portfolio, following Brookdale’s election not to exercise its lease renewal option. Brookdale is contractually obligated to pay rent on the portfolio of 35 assisted living communities across eight states through the end of the lease term on Dec. 31, 2023. The portfolio represents 8.4 …

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Company NewsInvestmentNewsOperationsVirginia

Welltower, Retirement Unlimited Partner to Launch Luxury Elancé Brand

by Jeff Shaw

TOLEDO, Ohio and ROANOKE, Va. — Welltower Inc (NYSE: WELL) and Retirement Unlimited Inc. (RUI) have formed a partnership under which RUI will operate luxury seniors housing communities under a newly launched Elancé brand. Welltower, a Toledo-based REIT, installed Roanoke-based RUI as the operator of Fountains at Washington House in Alexandria, Virginia in November. Following the change, the property was renamed Elancé at Alexandria and became the first community under the new banner. The two companies have planned a “significant expansion in the programmatic relationship between Welltower and RUI” in …

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Company NewsInvestmentNews

Strawberry Fields REIT to Begin Trading on the New York Stock Exchange American

by Jeff Shaw

SOUTH BEND, Ind. — Strawberry Fields REIT, a South Bend-based owner of skilled nursing facilities, assisted living facilities and long-term acute care hospitals throughout the Midwest and South, will officially begin trading on the New York Stock Exchange American on Wednesday, Feb. 22. The stock exchange, formerly known as the American Stock Exchange, is known for representing small-cap companies that are not yet big enough to list on the New York Stock Exchange, according the U.S. News & World Report. The company announced in April of last year that it …

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FeaturesInvestmentNews

JLL Survey: Investor Interest in Seniors Housing Increases as Pandemic Concerns Ease

by Jeff Shaw

CHICAGO — Despite pricing uncertainties limiting capital markets activity, interest in seniors housing remains strong as investors seek higher yields from alternative asset classes, according to JLL’s Valuation Advisory group’s sixth annual Seniors Housing Investor Survey and Outlook. Of the investors surveyed by the Chicago-based valuation group, 44 percent indicated they would increase their exposure to seniors housing in 2023, and 44 percent said they would make no change to their current investments. Only 12 percent of investors surveyed responded that they would decrease their exposure in 2023. Investors are …

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Company NewsInvestmentNews

Rockwood Capital, Doyenne Healthcare Capital Launch $100M Seniors Housing Joint Venture

by Jeff Shaw

NEW YORK CITY and CHICAGO — Rockwood Capital and Doyenne Healthcare Capital (DHC) have formed a joint venture to invest up to $100 million of equity in seniors housing communities across the country. Financial terms of the venture were not disclosed. “We view seniors housing as a complementary strategy for our existing ‘live-space’ investment program,” says David Becker, co-managing partner of Rockwood. “We believe that significant demographic tailwinds continue to support the sector. We also believe that the operational disruption caused by the pandemic coupled with the current capital markets …

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Assisted LivingInvestmentNewsNorth Carolina

LTC Invests $128M in 12 Communities in North Carolina

by Jeff Shaw

WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based real estate investment trust that primarily invests in seniors housing and healthcare properties, has made a $128 million investment in 12 assisted living/memory care properties totaling 937 beds and 568 units across North Carolina. An existing LTC partner operates all the communities. The majority of LTC’s $128 million investment is structured as a joint venture and a minor portion is structured as a senior mortgage loan secured by one property. The investment was funded from approximately $99 million …

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FeaturesInvestmentNews

Seniors Housing Investors Should Look for Opportunities Amid Today’s Challenges, Says Webinar Panel

by Jeff Shaw

It has undoubtedly been a very difficult time for seniors housing owners, operators and investors. The COVID-19 pandemic led to widespread shutdowns that forced communities to turn away visitors and prospective new residents for months, which in turn caused occupancy rates to crater. Then, just as the industry started to come back, labor challenges, inflation and rising interest rates put the brakes on that recovery. “We’ve been through the most unusual period ever for our industry,” said JP LoMonaco, president of Valuation & Information Group. LoMonaco made those comments while …

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