Yesterday’s Results, Tomorrow’s Outcomes By Dennis Murphy, Chief Investment Officer, Priority Life Care Though our industry tracks occupancy and expenses well, it misses predictive key performance indicators that could transform performance. Imagine knowing a resident’s lifetime return on investment and care progression — marketing budgets could then be tied to real value, not guesses. Also, communities capturing real-time associate feedback could prevent turnover before it happens. Even labor scheduling is too often reactive; we wait for payroll to close before spotting overtime or agency use. With forward-looking labor and resident …
ATLANTA — In today’s high-cost environment where obtaining development financing remains tricky, seniors housing builders are focused on cutting expenses — whether it be shrinking spaces or eliminating underutilized amenities altogether. That was the major takeaway from the development panel at the 12th annual InterFace Seniors Housing Southeast conference, which took place at the InterContinental Hotel in Atlanta on Wednesday, Aug. 27. The panel, which was titled “When Will Development Rebound? Outlook & Strategies for 2026,” included Richard Ackerman, managing partner of Big Rock Partners; Joe Jasmon, CEO of American …
AUSTIN, Texas — It’s often been said that those who ignore history are frequently condemned to repeat it, cautions Bob Kramer, founder and former CEO of the National Investment for Seniors Housing & Care (NIC). “By looking back at the past 30 years of growth in our industry, we’re presenting to you today six lessons learned from both the successes — they’ve been notable — and the mistakes and failures so that hopefully we can all be wiser in the next growth cycle,” emphasized Kramer during a lively panel session …
By Kirsten Jacobs, MSW “At what point in history has segregation ever worked?” This provocative question was posed 10 years ago by Pat Sprigg, then the CEO of Carol Woods Retirement Community, a LeadingAge member. On that day, a room full of participants gathered to explore the best and promising practices in dementia care, and Pat challenged us to reflect deeply on the practice of separating individuals living with dementia — and to consider whether a more inclusive, compassionate approach might be possible. Today, I find myself among a growing …
ATLANTA — The seniors housing sector stands at a “curious” crossroads in terms of the current real estate cycle, according to Chris Guay, CEO of Vitality Living. The Brentwood, Tennessee-based company is a seniors housing owner-operator with communities located across the Southeast and Texas. Guay asserts that on one hand, seniors housing owners and operators are still healing from the supply-and-demand shocks stemming from the COVID-19 pandemic. On the other, the sector is standing on the precipice of the prophesied “silver tsunami,” a phenomenon wherein the baby boomer generation is …
By Matt Valley ATLANTA — In an unsettled world, the capital markets have ironically proven to be relatively stable this year. That’s helped pave the way for the rebound in financing across the seniors housing sector, lenders say. But they are quick to add that construction financing remains difficult to secure for most developers. For much of this year, the U.S. 10-year Treasury yield has fluctuated between 4.2 and 4.6 percent, a relatively narrow range compared with the high volatility experienced in the three years prior. In 2022, for example, the …
CHICAGO — Five years removed from the height of the COVID-19 pandemic, which hit seniors housing communities, owners and operators particularly hard, the industry is still processing and gleaning lessons from the public health crisis. “The PTSD is still resonating a bit,” says Joe Jedlowski, chairman and CEO of Distinctive Living, which provides senior living management and development services. “There were days during the pandemic that we weren’t sure about survival.” Jedlowski’s musing came at the annual InterFace Seniors Housing Midwest conference, which took place June 24-25 at the Swissotel Chicago …
By Ray Yancey The American Lung Association’s recent “State of the Air” report shows that millions of adults age 65 and older live in high-risk areas in terms of levels of outdoor ozone, particle and other pollutants. Cleaner, healthier air — both outside and indoors — should be a priority. Architects and designers have an important role when creating senior living communities to help residents live longer, healthier lives. This includes air quality. When collaborating with senior living community owners and operators, commercial design and planning groups should identify the …
By Hayden Spiess Working in seniors housing is more than just a job, says Michael Pittore. Rather, “it’s something that is part of your DNA.” This is true of no one more so than Pittore and Forrest Westin. The two executives, who recently took over leadership of Agemark Senior Living as co-CEOs, are actually the sons of the company’s founders and original leaders. In the mid-1980s, real estate developers Richard Westin and Jesse Pittore met in San Francisco. Then, in 1985, the pair partnered on their first seniors housing project …
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How Tech-Forward Entertainment Drives Resident Satisfaction, Revenue
The next generation of residents entering senior living communities is more digitally native than ever before. Many have embraced mobile devices, smart technology and digital streaming, and they expect the same convenience and technology in their seniors housing environments. According to a recent AARP survey, nearly two-thirds of respondents say technology enriches their lives by making daily life and aging easier. They’re increasingly using digital services to manage their finances, social lives and health and wellness. AARP research also found that among adults aged 50 and over, 91 percent own …
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