Thought leader tries to move care of our seniors forward through various foundations and workplaces. By Jeff Shaw If you’re not familiar with Dr. Bill Thomas, you simply must not be paying attention. Whether it’s his TED Talks, movies, charitable foundations or his work with companies such as AARP (formerly known as the American Association of Retired Persons) and Holiday Retirement, Thomas has made quite a name for himself in the seniors housing industry. Thomas currently serves as innovation officer at Lifespark, a Minneapolis-based “whole person senior services company.” He …
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Lenders Reflect on COVID’s Impact, Address Interest Rates During InterFace Seniors Housing West
By Matt Valley Six lending professionals recently gathered on stage at the Omni Los Angeles to participate in a panel discussion that was both a two-year retrospective on COVID-19 and a deep dive into some of today’s hot-button issues affecting borrowers. “It’s been an interesting two years on the debt side, as it has been in other capacities. To me, one of the more interesting parts has been the contraction and subsequent expansion of capital flows in seniors housing debt and how that impacted large banks and small banks,” said …
How to Streamline Senior Living Community HR Processes
Cut Costs, Save Time and Recruit and Retain Good Workers The growth of the aging population is creating more demand for senior living options. But growing demand is colliding with a labor shortage, adding to the workload and strain on senior living communities. Scalable, streamlined HR infrastructure can help. Efficient and cost-effective solutions can cut expenses and reduce the amount of executive time spent on staffing issues. Enhanced back-office systems can also help boost recruitment and retention efforts. “Everything we do is designed and built around taking the burden off …
Employers Need to Rethink Benefits, Recruiting Amid Workforce Challenges, Webinar Panel Concludes
As seniors housing operators struggle with recruiting and retaining quality employees amid a nationwide labor shortage, the time has come to take a long, hard look at benefits, employee well-being and company culture. “The year ahead is likely to be one of re-establishing goals and work norms and business models and reinvigorating the workforce,” said Donna Meek, director at Paychex, a Rochester, New York-based provider of payroll, benefits, human resources and insurance services. “Businesses must master new obstacles, such as having a distinct, compelling employer brand and changing their employee …
ANNAPOLIS, Md. — Seniors housing occupancy increased to 80.6 percent in the first quarter of 2022, a 20 basis point increase from the fourth quarter of 2021 and a 250 basis point increase from a pandemic-related low of 78 percent in the second quarter of 2021. This is the third consecutive quarter of increasing occupancy. That’s according to new data from the National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit firm that tracks industry data gathered from 31 primary metropolitan markets through its NIC MAP Vision …
DALLAS — The seniors housing sector continues its recovery from the impacts of COVID-19, with investors expecting rental rates and residency levels to rise further in 2022, according to a survey from Dallas-based commercial real estate services firm CBRE. Most investors (82 percent) expect seniors housing communities to reach pre-pandemic resident levels within 18 months, with the quickest absorption pace in the lower-acuity communities such as active adult and independent living. For higher acuity communities, such as assisted living and memory care, the reabsorption period extends to 24 months for …
CHICAGO — Backed by strong long-term demand and increased investor interest, the seniors housing sector is now fully in recovery mode, according to JLL’s Valuation Advisory group’s fifth annual Seniors Housing Investor Survey and Outlook. The survey also revealed that investors are bullish on the seniors housing and care sector as a result of the projected “silver tsunami” of retired baby boomers and expected subsequent supply shortage. The survey had more than 100 respondents, all transactional professionals who specialize in the seniors housing and care space. The Chicago-based firm released …
Pandemic Highlighted Strengths of Senior Living, Accelerated Important Changes, Say Developers
LOS ANGELES — While the COVID-19 pandemic clearly had a negative effect on seniors housing for the short term, it also provided a chance for developers, owners and operators to take an introspective look at what the industry does well and what needs improvement. “Many of us were on this stage two years ago talking about this same topic of development,” said Ben Seager, associate principal at KTGY, while moderating a panel at InterFace Seniors Housing West in Los Angeles. “A lot of people had opinions that probably got turned …
LOS ANGELES — After bottoming out at 78.7 percent in the second quarter of 2021, private-pay seniors housing occupancy has been on a slow, steady climb, according to data from the National Investment Center for Seniors Housing and Care (NIC). The most recent data — for the fourth quarter of 2021 — showed occupancy at 81 percent. However, the pace of recovery varies widely among individual markets, individual companies and even individual properties. “Some people are able to manage the turmoil. Some are even thriving, or at least doing pretty …
By Denis Koval, CEO, Kapella Group The number of Americans age 65 and older will more than double over the next 40 years and is projected to reach 80 million in 2040, according to the College of Health Sciences at University of Michigan-Flint. With this increase in older adults comes a greater need for community and security. There are over 13 million young adults in America today and the vast majority are eager to not only engage in community, but make an impact. Intergenerational communities are on the rise with young adults and …