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Private-Pay Occupancy Rises 90 Basis Points in Sixth Consecutive Quarterly Increase

by Jeff Shaw

ANNAPOLIS, Md. — The national occupancy rate for private-pay seniors housing increased 90 basis points from 82.1 percent in the third quarter of 2022 to 83 percent in the fourth quarter of 2022, according to data from NIC MAP Vision. The occupancy rate has increased 520 basis points from a pandemic low of 77.8 percent in the second quarter of 2021. NIC MAP Vision is a product of the National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit firm that tracks industry data gathered from 31 primary …

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Seniors Housing Investors Should Look for Opportunities Amid Today’s Challenges, Says Webinar Panel

by Jeff Shaw

It has undoubtedly been a very difficult time for seniors housing owners, operators and investors. The COVID-19 pandemic led to widespread shutdowns that forced communities to turn away visitors and prospective new residents for months, which in turn caused occupancy rates to crater. Then, just as the industry started to come back, labor challenges, inflation and rising interest rates put the brakes on that recovery. “We’ve been through the most unusual period ever for our industry,” said JP LoMonaco, president of Valuation & Information Group. LoMonaco made those comments while …

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Survey: Need for Long-Term Care is Common, But Search is Frustrating

by Jeff Shaw

ANNAPOLIS, Md. — Twenty-four percent of U.S. adults age 50 and above say they or a loved one needed long-term care in the past year, according to a national survey commissioned by Nexus Insights, an Annapolis-based think tank focused on older adults. NORC at the University of Chicago conducted the research. The poll was conducted in November and included 1,014 interviews with a nationally representative sample of adults age 50 and older. Despite that high need, most older adults said the process of selecting long-term care caused anxiety (53 percent) …

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Addressing Labor Shortage Issue Remains Top Priority for Executives at InterFace Conference

by Jeff Shaw

Ask senior living CEOs and operators to name their top issue and the answer is the same as it’s been for the last two years: the workforce. Despite a slight easing in the overall employment environment, along with some high-profile tech layoffs, the labor market is still tight. Top executives are laser focused on the task to recruit and retain good workers for a simple reason: They can’t run a highly service-oriented business without help. Seniors aren’t going to move into an understaffed community. “Employees are my number one priority,” …

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InterFace Panelists: Debt Markets Tightening as Transactions Slow

by Jeff Shaw

Macroeconomic conditions are slowing the pace of seniors housing transactions and squeezing the availability of capital. Inflation and rising interest rates are making deals more expensive to finance. Debt providers are tightening their underwriting terms, while equity investors sit on the sidelines worried about shrinking margins. Overall, the outlook for the upcoming year looks choppy, according to investors and lenders speaking at France Media’s sixth annual Interface Seniors Housing Midwest conference. But they’re still bullish on the long-term prospects of the seniors housing market, with demand set to pick up …

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Wally Sauthoff NAI Seniors Housing Sale
AcquisitionsActive AdultAssisted LivingContent PartnersFeaturesFinanceIndustry ContentInvestmentOperationsPeopleSkilled Nursing

Steps to Help Small Seniors Housing Owners Prepare for a Sale

by Sarah Daniels

The seniors housing market has had its fair share of well-documented struggles, including plunging occupancies during COVID-19 and continuing labor challenges. Like the rest of the commercial real estate market, the sector is now confronting higher interest rates and recession. Despite those headwinds, investor demand for seniors housing assets remains strong, says Dawn Davis, an advisor specializing in seniors housing and skilled nursing with NAI Greywolf in Milwaukee. But sellers are only now grudgingly coming to terms with the fact that, because capital has become more expensive, the price buyers …

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Economic Headwinds Don’t Slow Optimism in Seniors Housing Industry, Say Webinar Panelists

by Jeff Shaw

How about this: It’s never been an easy ride for the seniors housing industry, even in the good times, but the last few years have been particularly turbulent. “Our industry has been through a real roller coaster the past couple years, starting off with the pandemic,” said Rick Swartz of Cushman & Wakefield. “That was a real challenge to occupancies and operations. We then had a successful roll out of vaccines that led the recovery and created a lot more bullishness in the industry. However, our robust economy has led …

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DevelopmentFeaturesNews

Developers Shift to Repositionings Amid Economic Uncertainty, Say InterFace Panelists

by Jeff Shaw

As shovel-ready projects get put on hold, seniors housing developers are looking 24 months ahead hoping that by then the economic outlook will have improved. For now, they worry about a possible recession and rising costs for everything from debt financing to building materials as they turn their immediate focus to repositioning opportunities. “The industry has been hit with macro-economic shocks,” said Adam Heavenrich, managing director at Heavenrich & Co., a Chicago-based investment brokerage firm. “What you hear is that if you’re developing now, you’re crazy.” Heavenrich gave these opening …

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AcquisitionsFeaturesMarylandNewsSkilled Nursing

Oxford Finance Provides $124.8M Acquisition Financing for Four Autumn Lake Skilled Nursing Facilities in Maryland

by Jeff Shaw

MARYLAND — Oxford Finance LLC (“Oxford”) has provided a $124.8 million senior credit facility for the acquisition of four Autumn Lake Healthcare skilled nursing facilities totaling 520 beds in Maryland. Autumn Lake Healthcare maintains a network of independently owned and operated nursing homes and rehabilitative care centers across Connecticut, New Jersey, Maryland, West Virginia and Wisconsin. Further details were not disclosed.

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Argentum Accelerates Efforts to Bring Solutions to Workforce Crisis Impacting Senior Living Communities

by Jeff Shaw

ALEXANDRIA, Va. — Argentum, an Alexandria-based association for professionally managed senior living communities, has unveiled new coalition letters to Capitol Hill with solutions to stem the workforce shortage crisis in senior care. These letters, in coordination with the American Senior Housing Association (ASHA) and LeadingAge, call on Congressional leadership and the House 21st Century Long-Term Care Caucus to build and train the workforce needed now and into the future to care for the nation’s rapidly aging population. “The lead up to the midterm elections is the ideal time to bring …

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