Seniors housing has to meet seniors where they are in their aging journey. By Jake Rothstein, UpsideHōM While the last couple of years have been demanding for us all, the holiday season still proves to be a fun and exciting time. Families reunite around their dining tables; people travel across the country and the world to be with their loved ones; gifts are given and received. It is a time to reflect on the past year but also a time to plan for the upcoming year. At UpsideHōM, we strive …
Some investor types have doubled down while others have fled seniors housing as the COVID-19 pandemic enters its third year. By Jeff Shaw COVID-19 has changed many investors’ approaches to the seniors housing sector. The pandemic caused a major shift in who’s buying and who’s selling. Some of the biggest buyers in 2019 were the biggest sellers in 2021. For example, institutional investors went from buying more than $2 billion in 2019 to selling more than $3 billion through the first three quarters of 2021. That’s according to Real Capital …
A variety of partnerships and lease structures present many options for landlords and tenants to both benefit. By Jeff Shaw In the retail real estate world, triple-net leases are king. Under this standard agreement, the tenant is responsible for all expenses — taxes, insurance, maintenance, utilities and rent to the owner. But seniors housing is a very different type of real estate. In retail, if a tenant fails, the owner simply finds a new one. For senior living, there’s a human element at play both for the employees and the …
Operators must streamline, improve hiring and retention processes. By Britt Riese, Oasis It’s no secret that the demand for talent in healthcare is exceptionally high right now and the projected need for workers continues to rise. This historical trend has been amplified by the COVID-19 pandemic. Now that we are almost two years into the pandemic, we are not only trying to keep up with the growing demand of healthcare jobs, we are also competing with increased wages in other industries, safety concerns in healthcare, more flexible work environments and …
Former Emeritus, Brookdale executive grows his own seniors housing owner-operator business in the Southeast. By Jeff Shaw After more than 15 years of working in various management and executive roles at seniors housing pioneer Emeritus Senior Living — and 18 months at Brookdale following the merger of the two behemoth companies — Chris Guay decided it was time for a change. He founded Vitality Senior Living in 2016 in the Nashville suburb of Brentwood, Tennessee. The company launched with two acquisitions in Texas, both offering assisted living and memory care. …
By Matt Valley Time is running short for operators of underperforming properties trying to shake off the negative impact of COVID-19 on occupancy and revenue, said Chuck Hastings, vice president of finance and business development for Juniper Communities. “In 2022, lenders are going to want to see us all getting back to pre-pandemic levels [of performance]. So, as operators the pressure is on.” Bloomfield, New Jersey-based Juniper operates 28 senior living communities in four states: New Jersey, Pennsylvania, Texas and Colorado. Hastings, who knows firsthand that lenders are growing increasingly …
What are your predictions and New Year’s resolutions, personally and professionally, for 2022? The rebound is inbound By Robert Chapin CEO, Co-Chief Investment Officer, Seniors Housing & Medical Properties Bridge Investment Group The for-rent, private-pay seniors housing industry has come through the most challenging period in its history. I predict, as we emerge from the bottom, our product and service offerings in 2022 and beyond are more relevant and valuable than ever before. We will see the market embrace our product through a more positive lens for the best care, …
If there were one phrase to summarize the attitude of seniors housing investors and lenders in 2022, it would be “cautiously optimistic.” How quickly can the seniors housing industry hope to recover in the face of continued difficulties? What is likely to drive the financing and investment market? While difficulties due to COVID and labor shortages continue to create challenges in terms of immediate occupancy, strong demand fundamentals and a healthy appetite for seniors housing investments indicate a return to normality is possible in 2022, according to Brandon Taseff, senior …
By Phillip Joseph and Gabriel Coelho, Ball Janik Tragedies often guide reform and progress. After the Champlain South Tower condominium in Surfside, Florida, collapsed, attention has focused on preventing similar future tragedies. There is a renewed focus on ongoing oversight, construction and inspection of residential towers throughout Florida, especially for vulnerable members of society. Recertification requirements Let’s begin with a brief introduction to the recertification requirements discussed in the aftermath of the Champlain South collapse. Surprisingly, recertification is not a state requirement, but a Miami-Dade County creation enacted in 1974. …
By Meagan Rohan, Vice President of Sales, Caremerge The senior living industry is dealing with a severe staffing problem. According to a survey by the American Health Care Association (AHCA) released in September 2021, only four percent of assisted living communities are fully staffed. These shortages aren’t just impacting the day-to-day operations of these communities, but the viability of their businesses. The AHCA survey also found that over 60 percent of nursing homes and assisted living communities are concerned staffing shortages will force them to close. I’ve spent my career …
