Five Star Senior Living (NYSE: FVE) on Friday announced that it will exit the skilled nursing business as part of a wider plan to trim its footprint and shift its focus toward independent living and active adult properties. The Newton, Mass.-based Five Star will close or transition the skilled nursing units at all of its continuing care retirement communities (CCRCs), for a total shed of 1,500 units, in a process expected to conclude by the end of 2021. The nursing home exodus comes as the operator also looks to offload 108 “smaller senior living communities” owned by real estate investment trust (REIT) landlord Diversified Healthcare Trust (Nasdaq: DHC).
Read the full article: Five Star Senior Living to Close or Transition All Skilled Nursing Assets in Industry Exit //
Source: https://skillednursingnews.com/2021/04/five-star-senior-living-to-close-or-transition-skilled-nursing-assets-in-industry-exit