REITs to shed skilled sites
Large real estate investment trusts are looking to get out of the skilled nursing sector, according to the Wall Street Journal.
REIT executives are nervous that Medicare and Medicaid cuts will prevent nursing home operators from paying their rent, the WSJ reported in May.
Health Care REIT is currently in negotiations to sell $250 million in nursing home properties, while Senior Housing Properties Trust is considering selling all 48 of its stand-alone nursing homes. Ventas Inc. also said it froze its acquisitions in the sector.