Ventas, one of the country’s largest owners of senior housing, is offering businesses that operate about one-fifth of its portfolio a 25% deferred rent payment for April. The deferred amount will be payable on October 1st, WSJ reported. Senior living communities house more than two million people across the country.
- Why it matters: A regulatory filing said deferred payments could be in the $3 million to $9 million range. Operators have been put in a financial squeeze. Costs have soared, as they have had to buy masks and other supplies, increase overtime, and implement new procedures to protect their residents. Meanwhile, revenues have fallen because filling vacant units has become exceedingly difficult.