Financial operator for and me joining you, and to the and Malin, Chief Investment welcome XXXX first today Officer. Chief Co-President LTC’s Kessler, With are us and quarter Clint call Co-President Thank Pam everyone Officer; conference on call.
thanks and no they last to have year, offering keep our staff our is to their calls started the gratitude operators residents, safe. done different. Today For by patients, I and for all
time first optimistic behind the many Now, a the long daunting entered cautiously for however, are by us, many, am I in we have and the that more mostly while, that lives lost the of recovery some and the stage. challenges presented pandemic
XX population, communities and living increasing With certainty the high begin but percentages will don't over encouraging. should seen We frequencies know levels months. we've of and from evidence anecdotal senior to nursing any memory from with operating return of assisted some the skilled partners that our vaccinations residents care new is the administered patients numbers welcoming census lower at pre-pandemic last the centers when to levels,
some have deferrals abatements. needed our in and of rent As XXXX, operators
XX.X%, million million have on respectively, and give are eligible eligible $X.X escalations, operators additional the to and and of an First income $XXX,XXX quarter Approximately $X.X first the credits GAAP capital quarter. XXXX during FAD. XXXX recognized to provided form $XXX,XXX our our The impact expected were revenue first impact approximate in quarter an excluding mortgage the of was approximate XXXX and on reduced XXXX collections the we rent quarter were operators first to interest rent provided rent during credits. working
discuss current case-by-case of of abatements second on One requests, attractive a our creates by operators smart We filtration, basis, The design the operators' helped review through months and control Pam rent across-the-board $XXX,XXX residents, approximately protocols, and don't the quarter utilizing program our the air ongoing Currently, but prospectively we decrease keeping to coverage, a liquidity. equipment. infection financing the in in deferrals GAAP expect any, and operations, a last anticipate family, physical safer we'll and mind relief, specifics if is smaller pandemic six through operators much bit and staff health XXXX. we way in bad to continue revenue touchless providing program. will amount to and bipolar additional rent for devices, a relief $XXX,XX recognize sanitation providing additional financial environments ionization, state-of-the-art in our corporate later. and UV dividers, and including the custom by of
assist are is communities. in Smart to in implemented partnership operators options. with We with being working our retrofitting Design customizable To-date, Development and our of XX turnkey Avenue
about briefly talk I'll Senior Lifestyle. Next
progress the expected are close portfolio and We to making transitioning on in transactions this with third several second of quarters. the
we portfolio will in a rent Senior on has this As Clint paid Lifestyle XXXX. in recent filing, provide shortly. X-K not disclose details
X-K, same on Senior I'll XX. with centers, Regarding refer the was to SEC which April on an update Care filed you the
deal has market in we we since LTC meaningfully. in any engage that Although, the not M&A immediate not large do changed last believe spoke the and will future, up has much transactions picked flow
preferred seen healthy equity a inbound the and we've uptick last particular, in mezzanine in month regarding Over financing. inquiries
as pricing does the what properties. not on With the and census. not we current of investments respect to traditional value we a risk due whose for opportunities, especially host more have of represent acquisitions, immediate see more which returns, potential believe is current and profiles more dependent performing development underlying are however, or success up we're lease on diligence seeing these We accurately projects, reduced strong or
on an quickly shareholders. opportunities that well-positioned senior act and in the and investment an believe increasing remains despite fundamentals, and provide I LTC they have our LTC they're solutions. ability and arise for industry strong housing need value that care as point to to accretive the to if We has which long-term pandemic
to operators. starting are see We stability some our in
However, early to discussed increases not our approximately we support to to gain ratio timing together traction. Senior guidance full a and FAD. It of census until uncertainty it provide Board's has been is the with of practice too of recovery. light XX% Care the dividend predict bankruptcy, In a the matters the occupancy again, do payout above, additional regarding plan of
of operators financial we defaults providing lease support, of significant the and As are Senior Lifestyle Care. our the a and result some of Senior
payout dividend likely the ratio XXXX XX% exceed target. will Our
totally we as to to transition recovery portfolio issues the operators involving and in we Care resolved. FAD the more However, see Senior bankruptcy Senior Lifestyle our stable LTC able are are the XXXX
of Pam. to the further like our Cheng. XX%, number instrumental I'd turning Before over Pam, call be ahead, our LTC With and Her will Cornelia are who please member as ESG to directors that, recognize to women. the diversity newest addition brings we go develop board Cornelia initiatives.
