Author

Jeff Shaw

Affordable HousingDevelopmentNew JerseyNews

Walters Opens Cornerstone at Greentree Affordable Community in Marlton, New Jersey

by Jeff Shaw

MARLTON, N.J. — Walters has opened the doors at Cornerstone at Greentree, an income-restricted seniors housing community in Marlton, a suburb of Philadelphia. Situated on 2.3 acres in Burlington County, the four-story building features 68 one-bedroom and two-bedroom apartments, with rents starting at $850 per month. Apartments are leased exclusively to residents whose incomes are at or below 60 percent of the area median income. Rental rates are based on the renter’s gross annual income, according to the rent/income requirements chart. A staff social services coordinator is available upon request …

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FinanceIndependent LivingM&T Realty Capital CorporationNebraskaNews

Ziegler, M&T Partner on $4.4M Fannie Mae Refinancing for The Regency in Kearney, Nebraska

by Jeff Shaw

KEARNEY, Neb. — Ziegler, in partnership with M&T Realty Capital Corp., served as financial advisor in a $4.4 million Fannie Mae refinancing on behalf of Essex Communities. The loan will finance the existing debt on The Regency, an independent living community in Kearney, located along the Platte river in the southern portion of the state. The 10-year, fixed-rate loan was structured at a 75 percent loan-to-value ratio with two years of interest only payments, followed by 30 years of amortization. The loan also carries a declining prepayment schedule. The deal …

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MinnesotaNewsOperationsPeople

Anthem Names Theresa Bigalk as Executive Director of Cascade Creek in Rochester, Minnesota

by Jeff Shaw

ROCHESTER, Minn. — Athem Memory Care has named Theresa Bigalk as executive director of Cascade Creek, a new Anthem Memory Care community scheduled to open this summer in Rochester. She will oversee all daily operations and care at the community. Bigalk most recently was operations manager for Jaybird Senior Living in Cedar Rapids, Iowa. Her two decades of experience also include serving as a senior living operations executive and director of social services throughout Minnesota. Bigalk received a bachelor’s degree in social work degree from Winona State University.

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Industry VoicesOperationsTechnology

Robots to the Rescue?

by Jeff Shaw

Technology can replace some functions in senior living, but not human connection. By Serena Lipton, JLL Valuation & Advisory Services “The COVID-19 crisis has created a tremendous opportunity for the industry to evolve into a new set of realities. More than ever, innovative, resident- and cost-centric technology solutions are front and center.” — Mel Gamzon, principal, Senior Housing Global Advisors Without a doubt, advancement in technology has quickly become one of the most relevant trends in the seniors housing industry. Adapting to these trends is crucial for companies that want …

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Industry VoicesOperations

The SHB Interview: Chip Gabriel, Executive Chairman, Generations LLC

by Jeff Shaw

Regional operator keeps it in the family.  By Jeff Shaw It’s rare to encounter a company whose name is fitting on several levels, but that’s exactly the case with Generations LLC, an Oregon-based owner and operator. For starters, the name reflects the elder generation that occupies its communities. Secondly, the company also believes in implementing multigenerational experiences for its residents, such as onsite daycare and amenity spaces open to the public. Thirdly, it is also a family-owned company, featuring multiple generations of founder Wendell White’s family. That family tree includes …

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CCRCFrom The Magazine

CCRCs Learn to Adapt, Thrive

by Jeff Shaw

Life plan communities outperform other types of seniors housing amid the pandemic due to an increased focus on choice and long-term residents. By Jeff Shaw The 2008 housing market crash, also known as the Great Recession or Global Financial Crisis, hit one segment of seniors housing particularly hard: continuing care retirement communities (CCRCs). The CCRC, or life plan community, concept is a campus with a full continuum of care — from independent living through skilled nursing — where residents can continue to live at the community as their acuity increases. …

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DevelopmentFrom The Magazine

Interior Designers Seek Perfect Balance

by Jeff Shaw

Seniors housing specialists must consider physical and aesthetic needs of many parties, and design choices can even help with infection control. By Jeff Shaw Interior design for seniors housing is a tricky proposition. A room’s layout, lighting, colors and furniture must be both aesthetically pleasing and functional for a wide range of users. That list includes the residents, care staff and visiting family — all while still at a price and style that pleases the building’s owners. “There are a lot of cooks in this kitchen,” says Melissa Banko, principal …

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FinanceFrom The Magazine

HUD Lenders Feel Effects of COVID-19

by Jeff Shaw

Occupancy issues create underwriting headaches, slower approval process, but pipeline remains active. By Matt Valley The emerging consensus among lenders in HUD’s Section 232 mortgage insurance program for healthcare properties is that total deal volume in fiscal year (FY) 2021 will fall short of the nearly $4.4 billion in loan closings recorded the prior year. In fact, some lenders expect the total dollar amount of loans closed will decrease 10 to 20 percent on a year-over-year basis.   Despite low interest rates, lenders cite an extremely challenging operating environment for …

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Industry Voices

Question of the Month: Home Health’s Impact on Seniors Housing

by Jeff Shaw

Does the government’s increased emphasis on home health pose a threat to the seniors housing industry? Plan benefits all care models By Paul A. Gordon Partner Hanson Bridgett LLP The Biden plan to provide funding for home- and community-based care is not a threat to the senior living industry, and may present an opportunity for growth.  Most senior living providers are private pay and do not serve the Medicaid population to which the Biden plan funds are directed, so they are unlikely to lose customers to better-funded home care providers. …

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FinanceFrom The Magazine

Fannie, Freddie Undeterred

by Jeff Shaw

Despite a pandemic-induced pullback in lending volume, the agencies remain committed for the long term to borrowers in need of debt financing. By Jeff Shaw Many parts of the seniors housing industry slowed as a result of the COVID-19 pandemic, including the lending market. Fannie Mae and Freddie Mac, the two giant government-sponsored enterprises (GSEs), experienced a significant pullback in deal volume in 2020, but remained two of the larger capital sources in the sector. “We are the predominant lender in the space,” says Steve Schmidt, national director of seniors …

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