67 WALL STREET, New York - August 4, 2014 - The Wall Street Transcript has just published its Medical Real Estate Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: REIT Access to Capital - Affordable Care Act and Reimbursements - Hospitals, Senior Housing, Skilled Nursing and Acute Care - Medicare and Medicaid Reimbursements - Consolidation Activity - Health Care REITs - Medical Office Real Estate
Companies include: Sabra Health Care REIT, Inc. (SBRA) and many more.
In the following excerpt from the Medical Real Estate Report, the President, CEO and Chairman of Sabra Health Care REIT, Inc. (SBRA)
TWST: It's been two years since we last spoke, so let's start with a refresher on the company's historical background.
Mr. Matros: Two years ago we were just ending our first year and still really focused on diversifying away from then-Sun - but since acquired by Genesis - so diversifying from our primary tenant, trying to diversify across asset classes. But our cost of capital was still a bit high for us to compete. Since then, we've really grown tremendously. Our cost of capital has come down dramatically. We have diversified quite a bit across asset classes. Genesis, our largest tenant, has gone from 100% of our exposure to 47%. Skilled nursing, which was almost entirely what we were, at 96%, is down to 69%. And private pay, which was only about 20%, maybe a little bit higher at the time we talked, is now 42%.
We've expanded into assisted living and memory care, we have some hospitals, and one of the biggest endeavors is we're doing quite a lot of development in assisted living and memory care, a little bit of skilled nursing and hospitals as well. And we have five different development partners that we're working with. So it's been a great period of growth for us over the two years since we talked. Each year we've done more investments than the preceding year, so that's been great.
TWST: Would you tell us about one or two examples of recent investments, whether it be an acquisition or a new development?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.