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Katherine Stewart Seniors Occupancy
AcquisitionsContent PartnersDevelopmentFeaturesFinanceIndustry ContentInvestment

Seniors Housing, Skilled Nursing Properties Regain Traction Inch by Inch

by Sarah Daniels

It could be argued that the last 30 months have presented the seniors housing and skilled nursing industries with their most adverse operating environment ever. Heading into 2023, at least some difficulties appear to be abating. Seniors housing occupancy rates continue to improve, reaching 81.4 percent in June this year, which was an improvement of 90 basis points over the March figure, according to the National Investment Center for Seniors Housing and Care (NIC). That was also 340 basis points higher than the time series low of 78 percent recorded …

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Supply Chain Issues Slow Seniors Housing Development as Demand Balloons, Say InterFace Panelists

by Jeff Shaw

ATLANTA — Delays in the arrival of building materials — everything from windows and roof trusses to microchips for electrical panels — is one of the biggest hurdles slowing down new seniors housing developments, according to Kristin Kutac Ward, CEO of Solvere Living. Ward’s comments came during the ninth annual InterFace Seniors Housing conference. The event, which took place Aug. 17 at the Westin Buckhead in Atlanta, was hosted by France Media’s InterFace Conference Group and Seniors Housing Business and drew 324 attendees. Joining Ward on the development panel was …

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Updated NORC Study: 11M Seniors Won’t Be Able to Afford Seniors Housing in 10 Years

by Jeff Shaw

CHICAGO — By 2033, more than 11 million middle-income seniors age 75 and older may not be able to pay for assisted living and are also unlikely to qualify for Medicaid to pay for their long-term care needs. In an update to its “Forgotten Middle” study, researchers from NORC at the University of Chicago find that the middle-income cohort of seniors will grow by 7.5 million (89 percent) from 2018 to 2033. The study also found that seniors are becoming more racially and ethnically diverse, with people of color making …

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ASHA 50: Atria Shoots Up Operator List, Top Owners Stay Largely Unchanged

by Jeff Shaw

WASHINGTON, D.C. — The American Seniors Housing Association (ASHA), in partnership with Seniors Housing Business, has released the 2022 edition of the ASHA 50, which ranks the 50 largest owners and operators in the U.S. seniors housing space. Based in Washington, D.C., ASHA is a trade association that advocates for and represents companies that develop, own, operate and finance seniors housing. The ASHA 50 rankings are based on self-reported portfolio sizes, ranked by total number of units, as of June 1, 2022. Data was also used from other reliable sources, …

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InterFace Panel: Labor Issues Hurt Margins, Investor Confidence in Seniors Housing

by Jeff Shaw

ATLANTA —  The labor shortage that continues to hamper the seniors housing industry is taking a toll on the capital markets side of the business as owner-operators find themselves underwriting increased costs that are ultimately causing profit margins to shrink and spooking some potential investors. The dearth of qualified and committed staffers at all levels of seniors housing was exacerbated by the pandemic. But other macro-level factors — low overall unemployment, stiff competition with hospitality and healthcare users, elevated demand for flexible work routines — are amplifying the problem, even …

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FeaturesNewsOperations

Seniors Housing Operators See Rapid Rise in Online Leads and Universal Workers, Say InterFace Panelists

by Jeff Shaw

ATLANTA — Property managers rely on various tools and methods to boost occupancy at their seniors housing facilities. One common avenue is for operators to have reliable online lead generators that connect their sales teams to potential residents and their families. Digital platforms in the seniors housing space like A Place for Mom and Grow Your Occupancy are churning out such leads for sales teams, and operators are saying that it’s a double-edged sword because they are coming in at a rapid clip. “We love the leads but we have …

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AAG Survey: Over 50% of Generation X Can’t Afford to Help Senior Parents

by Jeff Shaw

IRVINE, Calif. — Inflation and current economic conditions are creating problems for senior baby boomers, and new data from American Advisors Group (AAG) shows that those financial issues could become a problem for their Generation X children. To learn exactly how Gen X adult children are feeling about their parents’ financial state, AAG, an Irvine-based home equity solutions provider for seniors, conducted the Adult Children Survey. The survey was conducted on May 12 of this year, with over 1,500 participants ages 40 to 55 who have senior parents. “Americans want …

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Morgin Morris Seniors Housing Interest Rates
Content PartnersFeaturesFinanceIndustry ContentInvestmentKeyBank

Higher Capital Costs are Latest Jolt to Seniors Housing Sector

by Sarah Daniels

As if seniors housing developers and operators did not have enough difficulties rebounding from the pandemic, what with constrained occupancy, elevated expenses and staffing shortages plaguing the sector, they are now navigating an environment where the rising cost of capital is limiting their financial flexibility. While the 10-Year Treasury yield has retraded about 50 basis points from its recent peak of nearly 3.5 percent in mid-June, it is still twice as high as it was at the beginning of the year. Likewise, the secured overnight financing rate (SOFR) has shot …

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Unitranche Loans Offer Competition with Debt Funds

by Sarah Daniels

Unitranche loan programs blend senior and junior debt pricing and terms into a single, first lien debt facility — a single financing that replaces the multitranche debt approach. The unitranche arrangement provides the benefits of a fully levered mezzanine debt structure, while the single financing structure streamlines the agreement and costs for borrowers. KeyBank Real Estate Capital, the commercial real estate business unit of KeyCorp, recently partnered with Welltower to establish a unitranche loan program with $750 million in lending capacity for seniors housing and skilled nursing facilities. Industry expertise …

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Private-Pay Occupancy Continues Recovery, Rises 90 Basis Points in Second Quarter

by Jeff Shaw

ANNAPOLIS, Md. — Private-pay seniors housing occupancy increased 90 basis points from 80.5 percent in the first quarter of 2022 to 81.4 percent in the second quarter of 2022. This is the fourth consecutive quarter of occupancy growth, and occupancy is up 340 basis points this quarter from a pandemic low of 78 percent in the second quarter of 2021. The pre-pandemic occupancy level was 87.4 percent. That’s according to new data from the National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit organization that tracks industry …

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