Author

Jeff Shaw

DevelopmentFrom The Magazine

Smart Design Pays Dividends

by Jeff Shaw

From sustainable building features to family-friendly dining venues to comfortable staff lounges, today’s architects provide project blueprints that both inspire and pencil out. By Jeff Shaw Seniors housing as an industry is always changing, but the pace the past few years has been especially fast. From the temporary and permanent changes during the COVID-19 pandemic to the national labor shortage hitting this sector particularly hard — all against the backdrop of a massive wave of demand coming from the baby boomers in the near future — there are plenty of …

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From The MagazineInvestment

Company Profile: Omega Healthcare Investors

by Jeff Shaw

A Port in the Storm Omega Healthcare Investors rides out recessions, regulatory sea changes and pandemics to remain one of the largest owners of senior care facilities. By Jeff Shaw Omega Healthcare Investors launched in a way that was extremely unusual at the time. Essel Bailey Jr. founded the company in 1992, but had few assets to show — $400,000 in cash and a contract to buy 37 skilled nursing facilities for $120 million. Omega was started in a manner similar to what today is known as a special purpose …

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DevelopmentIndustry Voices

Renovating Occupied Assets Requires a Gentle Hand

by Jeff Shaw

Developers must understand, respect and engage with residents to succeed. By Amy Fahey It is no secret there is a seniors housing shortage in this country. Given the lack of affordable land in many areas for ground-up construction, many developers opt to breathe new life into their existing facilities with extensive renovations.  Of course, the most difficult method of tearing a building apart and putting it back together is to do so while people live in it, especially elderly folks. Clearly, renovating an occupied seniors housing facility is a complex …

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Industry VoicesPeopleSkilled Nursing

Keep a Five-Star Rating with Recruitment, Retention

by Jeff Shaw

CMS shifts have added regulatory pressure to staffing urgency. Take a new approach.  By Rishabh Parmar It is no secret that staffing shortages have consistently plagued skilled nursing facilities (SNFs), impacting patient care and staff satisfaction. But recent changes in Centers for Medicare & Medicaid Services (CMS) guidance have put additional pressure on leaders to solve this crisis. CMS recently updated its Five-Star quality rating system, adding measures for staff turnover and weekend staffing levels. Five-Star quality ratings not only impact insurance reimbursements but inform facility selection by consumers, families …

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Industry Voices

The SHB Interview: Sevy Petras, CEO, Priority Life Care

by Jeff Shaw

Head of third-party operator believes a rising tide lifts all boats. By Jeff Shaw Although Severine ‘Sevy’ Petras may be the CEO of Fort Wayne, Indiana-based third-party operator Priority Life Care, she prefers to play down her title . “Do not call me ‘boss,’” she insists. “That’s the worst word.” “When we opened our first buildings, I wouldn’t let anyone put their title on their business card. One day I was a janitor, next I was a server, next I was a CEO. I never wanted anybody to be intimidated …

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Industry Voices

Question of the Month: Transparency

by Jeff Shaw

“Transparency” has become a rallying cry. What does transparency mean to you and why is it so important? Challenge presumptions By Marcus Van Ameringen Vice President of Business Development 12 Oaks Senior Living When compared to the multifamily business, which publishes data on every conceivable metric, seniors housing is less forthcoming in producing customer usable data. There are multiple reasons for this lack of disclosure, such as the assumption that revealing rates and care levels online will create sticker shock and drive customers away prematurely.  Adult children routinely scour the …

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FinanceFrom The Magazine

Borrowers Face Stiffening Headwinds as Interest Rates Spike While Some Lenders Hit Pause Button

by Jeff Shaw

By Matt Valley The seniors housing industry can’t seem to catch a break in the wake of the COVID-19 pandemic, says Aron Will of CBRE Capital Markets. While operational performance has improved the past several months due to a gradual rise in occupancy and less reliance on temporary workers, the capital markets have become increasingly difficult to navigate due to a spike in interest rates. This juxtaposition isn’t lost on Will. “The debt markets are about as choppy as we’ve seen since 2008 and 2009. The bank market has really …

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AcquisitionsGeorgiaNewsSkilled Nursing

Blueprint Negotiates Sale of 333-Bed Skilled Nursing Portfolio in Metro Atlanta

by Jeff Shaw

ATLANTA and MARIETTA, Ga. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities, one in the Buckhead neighborhood of Atlanta and another in the first-ring suburb of Marietta. The properties total 333 licensed beds, and are part of a larger portfolio sale with staggered closings. Both properties are near leading regional hospitals, among other referral sources. While labor challenges impacted the local market, the facilities maintained steadily improving census and revenue coming out of the pandemic, according to Blueprint. An East Coast-based investor and …

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CaliforniaCompany NewsNewsOperationsWashington

Sabra Transitions Operations of 24 West Coast Skilled Nursing Facilities to Ensign, Avamere

by Jeff Shaw

IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA), an Irvine-based investor, plans to transition a 24-property portfolio previously leased to North American Health Care Inc. to two of Sabra’s existing tenants: The Ensign Group (NASDAQ: ENSG) and the Avamere Family of Companies. Ensign will add 20 properties located in California to two master leases with Ensign operating companies with initial terms of 18 and 20 years, each with an accompanying corporate guarantee from Ensign. The initial annual rent attributable to the 20 properties will be $29.4 million, with …

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FinanceNewsPeopleTennessee

Lument Hires Justin Elshire to Lead New Nashville Office

by Jeff Shaw

NASHVILLE, Tenn. — Lument has hired Justin Elshire as a managing director to lead its new office in Nashville. Elshire is responsible for originating and structuring commercial mortgage loans for seniors housing and healthcare clients across the country, focusing primarily on Fannie Mae, Freddie Mac, Federal Housing Administration (FHA) and U.S. Department of Agriculture loan programs, as well Lument’s proprietary lending products. He will report to Aaron Becker, Lument’s head of seniors housing and healthcare production. Elshire has over 20 years of financial and commercial real estate experience, most recently …

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