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Ventas’ Hutchens: Centralizing Recruiting Leads to Improved Hiring, Retention

by Jeff Shaw

CHICAGO — While interest rates have hogged the headlines of late, the seniors housing industry’s labor challenges have not disappeared. During the COVID-19 pandemic, many in the sector — particularly caregivers — left for other careers. To fill the gaps, many operators resorted to third-party agency labor, which is more expensive and means that employees may not be dedicated to the community at which they’re working. Justin Hutchens believes in a few solutions to these challenges. Hutchens is an industry veteran currently serving as executive vice president of seniors housing …

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AcquisitionsFeaturesInvestmentNews

Active Investors Say Now’s the Perfect Time to Buy Seniors Housing

by Jeff Shaw

Increased interest rates have made the cost of capital high, slowing both acquisitions and new development in the seniors housing space.  “Since interest rates took the bubbles out of our champagne in 2022, many in our industry have been hunkering down as valuations have been challenged, exit plans have been destroyed and carrying costs of non-cash-flowing properties have spiked,” said JP LoMonaco, executive vice president at CBRE. But for those able to make acquisitions work, now may be the perfect time to buy. “We’re past the COVID recovery now,” said …

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DevelopmentFeaturesIndustry VoicesOperations

It’s Time for The Senior Living Industry to Adapt to a Changing Generation 

by Jeff Shaw

By Joseph Cuticelli, chief operating officer and partner, Phoenix3 Holdings  Charles Darwin’s principle that survival hinges on adaptability rather than strength is more relevant than ever for senior living leaders. The industry sits at a critical juncture, with a rapidly expanding customer base and an often outdated image that no longer resonates with today’s active seniors. Technological advancements in smart homes, delivery services and accessible healthcare have empowered 74 percent of older adults to prefer staying in their current homes or downsizing, as revealed by the 2023 “Unlocking the Future” …

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NIC: Private-Pay Occupancy Rises to 85.9 Percent in 12th Consecutive Quarterly Increase

by Jeff Shaw

ANNAPOLIS, Md. — The private-pay seniors housing occupancy rate for the 31 NIC MAP Primary Markets reached 85.9 percent in the second quarter of 2024, an increase of 50 basis points from the prior quarter, according to data released by NIC MAP Vision and analyzed by the National Investment Center for Seniors Housing & Care (NIC). The second quarter of 2024 represents the 12th consecutive quarter of occupancy gains, with an increase of 70 basis points in independent living occupancy and an increase of 50 basis points in assisted living …

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AcquisitionsFeaturesInvestmentNews

With Economic Conditions Stabilizing, Industry Executives Expect Transactions to Ramp Up

by Jeff Shaw

CHICAGO — A big question hangs over the investment market: When will transaction activity pick up again? Seniors housing fundamentals are strong. Occupancies are recovering. New development is scarce. And demand is set to surge as a growing number of baby boomers turn age 80, the point at which senior living becomes an increasingly attractive option for older Americans. But worries about inflation, the direction of interest rates, lack of debt capital and the fear of buying at the wrong price are curbing investment activity. In this uncertain environment, can …

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InterFace Panel: CEOs Share Strategic Insights into Today’s Competitive Market

by Jeff Shaw

CHICAGO — Senior living CEOs today face a rapidly evolving business landscape. New regulations, technology and innovation, the drive for efficiency, capital partnerships and the ground-up development dilemma are among the key issues that top leaders confront on a day-to-day basis. A group of CEOs gathered to discuss their leading-edge strategies at the Interface Seniors Housing Midwest Conference, held June 26 at the Swissotel in Chicago. The executives participated in a session titled “The Power Panel: CEOs Discuss the State of the Industry.” Maureen Longoria, CEO and co-founder at LivNow …

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Seniors Housing Contrarians Webinar panel
AcquisitionsActive AdultAffordable HousingAssisted LivingCCRCDevelopmentFeaturesFinanceIndependent LivingIndustry ContentInvestmentMemory CareOperationsVideosWebinars

Webinar: Meet Seniors Housing’s Contrarians — A Handful of Investors Go Big in a Challenging Environment

by Sarah Daniels

The June 27 webinar “Meet Seniors Housing’s Contrarians — A Handful of Investors Go Big in a Challenging Environment” covered the difficulties and opportunities in seniors housing, including the impact of rising interest rates, the rise of regional operators and best practices for meeting regulatory requirements. The panel of industry experts also shared insights on managing troubled assets and adapting to post-pandemic challenges in the healthcare real estate industry. Despite concerns about affordability and rising insurance costs, there were signs of growth and opportunity in the sector. Speakers emphasized the …

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NIC MAP Vision: Seniors Housing Needs $275B in New Investment by 2030 to Meet Demand

by Jeff Shaw

RALEIGH, N.C. — As the number of people age 80 and older continues to grow rapidly, the United States will not have enough seniors housing to meet this demand in the next five years.  This is according to detailed projections from NIC MAP Vision, a Raleigh-based seniors housing data and analytics firm. NIC MAP Vision’s report — Senior Housing Outlook — highlights a critical shortage of developments amid rapidly growing demand, emphasizing the need for immediate action and the ripe opportunity for investors. According to NIC MAP Vision data, the current seniors …

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NIC/NORC Study: Seniors Have Better Health Outcomes in Seniors Housing Than at Home

by Jeff Shaw

ANNAPOLIS, Md. — Older adults who moved into seniors housing experienced the same or better health outcomes compared to those who live in the greater community, according to research conducted by NORC at the University of Chicago. This is a core conclusion of a body of research showing how seniors housing communities can improve access to safe and high-quality care for older adults. The research found that people who move into seniors housing experience decreased vulnerability, receive more healthcare services at home, and have slightly increased longevity compared to older …

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CBRE Survey: Cap Rates, Rents on the Rise Across Senior Living Segments

by Jeff Shaw

Cap rates rose across all types of seniors housing between October and March, and investors largely expect rent growth to continue, though at a slower rate than in recent years. That’s according to CBRE’s U.S. Senior Housing & Care Investor Survey H1 2024 report, which was released this week. According to respondents, who represent a variety of industry executives within seniors housing real estate, skilled nursing  cap rates increased by 11 basis points (bps) between October 2023 and March 2024, after increasing by 71 bps over the previous six months. The average cap …

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