Author

Jeff Shaw

Operators leverage advancements in COVID-19 testing, telehealth and social media to protect mental and physical well-being of residents. By Eric Taub While the COVID-19 pandemic forced the nation to institute physical isolation to save lives, it’s a tragic irony that the strategy actually worsened the health of many of our most-vulnerable citizens — our seniors — as researchers have discovered. Forced to spend their days mostly alone behind closed doors, senior living residents have largely lost the actual in-person contact of their family and friends, which is vitally important to …

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Although underwriting is more stringent than before the pandemic, lenders and investors are still showing a strong interest in seniors housing. By Jeff Shaw Seniors housing has clearly endured a rough ride as a result of the COVID-19 pandemic. But that doesn’t mean that investors, lenders, developers and owners don’t see value in it. “Value is the worth of all benefits arising from ownership,” said JP LoMonaco, president of Valuation & Information Group. “It is by nature a long-term concept. The value isn’t determined by benefits derived today or over …

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Journey of nonprofit executive leads her all the way from college music major to receptionist to CEO. By Jeff Shaw Terri Cunliffe truly got in on the ground floor. Her first job in seniors housing was as a receptionist in the 1980s after quitting college, where she majored in music. Her administrator saw Cunliffe’s potential and encouraged her to return to school and work on a new degree that would be more befitting a career in seniors housing. The rest, as they say, is history. Cunliffe came back to the …

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Seniors housing designers must consider operations, programming and trends. By Dean Maddalena It’s important to understand how the interior design industry responds to changes and challenges. These external demands provide designers with opportunities to think in creative ways to satisfy conventional and emerging requirements. For over 15 years the design teams at StudioSIX5 have gathered to discuss the design, cultural and operational issues that have arisen and begun to take hold in the senior living vernacular. In addition to senior living, they look to the allied fields of hospitality, multifamily …

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Given the financial pressures of COVID-19, should the industry prepare for an influx of distressed assets?   The buck will eventually stop By Aron Will Co-Head, National Senior Housing CBRE Capital Markets There could certainly be some distress in our sector come third- or fourth-quarter 2021, driven by borrowers that aren’t particularly well capitalized and don’t have the staying power to weather the storm. The majority of banks have provided relief (lax covenants, maturity extensions, etc.), but the buck will stop at a certain point. Many forget that the sector …

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PLAINVIEW, N.Y. — Capitol Seniors Housing has opened The Residences at Plainview a 114-unit independent living community in the Long Island hamlet of Plainview. Chelsea Senior Living operates the 150,000-square-foot community. Formerly a Residence Inn by Marriott, Capitol Seniors Housing purchased the property and transformed the campus into seniors housing. Meyer Senior Living Studio was the designers, while EW Howell Construction Group was the general contractor.

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NEW YORK CITY — The Healthcare Group of Eastern Union, a New York-based commercial real estate finance firm, has secured a $57 million bridge financing package that encompasses two skilled nursing facilities in Florida and two in Massachusetts. The four facilities total 544 beds. The two facilities in Florida represented $26 million of the overall transaction. The first was a 133-bed facility in Naples that provides a combination of skilled nursing and assisted living services. The second asset was a 146-bed center in Venice that delivers assisted living, memory care …

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MOORESTOWN, N.J. — Acts Retirement-Life Communities has started a $10 million renovation and expansion project at The Evergreens, a senior living community in Moorestown, a suburb of Philadelphia. The renovations feature new construction and upgrades to existing common areas throughout the senior living community, which is home to approximately 216 residents. The project is scheduled to take approximately two years to complete, finishing sometime in 2022. The Evergreens’ 32-acre campus includes 200 independent living apartment homes, an on-site health care center with 66 assisted living suites and a 34-bed skilled …

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MORGANTON, N.C. ­— Carolinas HealthCare System Blue Ridge has completed a renovation project at Grace Ridge Retirement Community in Morganton, located in the Blue Ridge Mountains. Beginning in 2020, Grace Ridge partnered with North Carolina-based Frank L. Blum Construction Co. and Steele Group Architects in the project. ID Collaborative designed the interior. Grace Ridge is a continuing care retirement community spanning 52 acres.

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WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a real estate investment trust that invests in seniors housing and healthcare properties, has elected Cornelia Cheng as a new member of the board of directors effective April 1. The move increases the total number of directors from five to six, 50 percent of whom are women, and independent directors from four to five. Cheng, 53, brings over 20 years of corporate finance, acquisitions, capital markets, recapitalization, REIT financings and talent management experience. She is currently managing director of investments for …

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