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Webinar Panelists: Occupancy Landscape Improves, but High Interest Rates Continue to Stall Transactions

by Jeff Shaw

On its surface, now is a difficult time to be in seniors housing development or operations. Rising interest rates have made financing or refinancing challenging. Occupancy rates, while improving, are still well below pre-pandemic levels. Expenses have increased dramatically, particularly for labor, while rent increases haven’t been able to keep up. JP LoMonaco, now an appraiser with CBRE after the company bought his former appraisal firm Valuation & Information Group in June, notes that the work he does reflects the tough times. “We saw a sudden shift from new loan …

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Investor Survey: Seniors Housing Cap Rates on the Rise, Likely to Continue

by Jeff Shaw

DALLAS — The Seniors Housing & Care Investor Survey, conducted each year by Dallas-based CBRE Research, shows that capitalization rates are on the rise, and many expect that trend to continue. The survey focuses on rapidly changing market conditions due to inflation, staffing shortages and rising interest rates. CBRE’s methodology and pool of respondents was not disclosed with the survey results. The average seniors housing capitalization rate increased by 26 basis points year over year, and survey respondents view assets with the lowest cap rates as those most negatively impacted …

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AcquisitionsActive AdultAffordable HousingAssisted LivingCCRCDevelopmentFeaturesFinanceIndependent LivingIndustry ContentInvestmentOperationsVideosWebinars

Webinar: Seniors Housing Success Stories — Companies that are Rising Above the Headwinds

by Sarah Daniels

  The June 29 webinar “Seniors Housing Success Stories — Companies that are Rising Above the Headwinds“ focused on what leading seniors housing firms are doing to alter their businesses, streamline operations, increase occupancy and strategize in terms of deal volume and investment. Industry difficulties, including labor shortages, inflation and interest rates, have highlighted the need for expertise and well-informed approaches to the seniors housing sector recovery. Click to watch this hour-long discussion that considers both operations and trends in transaction activity. See how strategies and outlooks have shifted since last …

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NIC: Occupancy Rose 60 Basis Points in Second Quarter for Eighth Consecutive Increase

by Jeff Shaw

ANNAPOLIS, Md. — The occupancy rate for private-pay seniors housing rose 60 basis points to 83.7 percent in the second quarter of 2023, according to data from NIC MAP Vision. It is the eighth consecutive quarter where occupancy has increased as the industry continues to recover from impacts of the COVID-19 pandemic. The occupancy number is a 590 basis point increase over the pandemic low of 77.8 percent in second-quarter 2021, but still short of the pre-pandemic mark of 87.1 percent in first-quarter 2020. NIC MAP Vision is a product …

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FeaturesNewsSkilled Nursing

Michigan Organizations Launch Skilled Nursing Improvement Initiative in the State

by Jeff Shaw

LANSING, Mich.— The national Moving Forward Nursing Home Quality Coalition and the Michigan Health Endowment Fund have launched an initiative to improve nursing home operations and resident quality of life in Michigan. Over the next six months, the initiative plans to convene a team of state government leaders, experts, clinicians, advocates and residents along with national Moving Forward Coalition leaders to address nursing home quality improvement opportunities in Michigan based on action plans from the coalition. The initiatives may include creating stronger career pathways for certified nursing assistants. “The enormous …

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New ASHA Survey Details Baby Boomers’ Seniors Housing Priorities

by Jeff Shaw

WASHINGTON, D.C. — The American Seniors Housing Association (ASHA) has released a new report detailing the senior living priorities of the baby boomer generation, members of which will largely be the industry’s residents for the next 25 years. “In the years to come, many of the nation’s 76 million baby boomers will transition into seniors housing,” says David Schless, ASHA president and CEO. “It’s imperative that industry leaders understand the baby boomers’ expectations so they can meet their needs and position themselves for success.” The report — “Boomers and the …

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Employee Stock Ownership Plans Offer a Unique Exit Strategy in the Face of a Challenging Economic Environment

by Sarah Daniels

  Owners and operators considering an exit strategy today face a challenging economic environment. Higher interest rates have slammed capital markets. Valuations are in flux. Transactions have slowed. And the pool of potential buyers has dwindled. As an alternative to an outright sale to a third-party, an often-overlooked option is an exit to an employee stock ownership plan (ESOP). These plans allow business owners to sell all or part of the company’s stock to employees, allowing owners to diversify wealth away from the business while limiting their future liability. Ultimately, …

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Active AdultDevelopmentFeaturesNews

Active Adult Development is Difficult, but Rewarding, Say InterFace Panelists

by Jeff Shaw

DALLAS — Developers in the active adult sector are subject to the same struggles as any other sector. Interest rates are as high as they’ve been since before the Global Financial Crisis of 2008, making construction financing difficult to attain. Construction costs, both for labor and materials, have skyrocketed since the COVID-19 pandemic began. Quality sites are few and far between. But for developers that can overcome those challenges, there has rarely been a market as ripe for new construction as active adult, according to Michael Hartman, principal of active …

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Active AdultAssisted LivingContent PartnersFeaturesIndependent LivingIndustry ContentOperationsPeopleSkilled NursingTechnology

Your Caregiver Team Includes the Building Itself

by Sarah Daniels

While seniors housing operators grapple with occupancy issues, labor challenges and margin squeeze, the building’s role within the industry is sometimes overlooked. But innovative building design and new technologies can help improve staff efficiency, optimize resident care and increase revenue. “The senior living industry is evolving,” says Gaurie Rodman, vice president of real estate strategy and development at Direct Supply, a provider of equipment and services to the senior living and healthcare industries. “Buildings are taking on a role beyond shelter.” New building designs are being created through an efficiency …

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Argentum Panel: COVID May Have Forced Operators to Change for the Better

by Jeff Shaw

NEW ORLEANS — While the COVID-19 pandemic was a tragic and challenging time for seniors housing operators, many are now looking at the ways the industry can improve as a result. Those operators can see, in retrospect, how the way they were forced to respond to the crisis will pay dividends for years. “We’re looking at adjustments that should’ve always been done this way,” said Stephanie Harris, CEO and principal at Arrow Senior Living. “That’s one of the silver linings from COVID.” Harris made her comments during the “Insights From …

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