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Assisted LivingDevelopmentFeaturesFinanceIndustry Voices

SBA 504 Loans Can Lend Support to Assisted Living Projects

by Jeff Shaw

By Barbara Morrison, founder and president, TMC Financing According to the Centers for Disease Control and Prevention (CDC), there are around 28,900 residential care and assisted living facilities in the U.S.. The majority of the facilities are well established and contribute greatly to the country’s social and economic fabric. However, despite the importance of these facilities in our society, they often struggle to find affordable financing to expand or improve their services. Fortunately, the Small Business Administration (SBA) 504 loan program provides an affordable way to obtain funding for building …

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DevelopmentFeaturesIndependent LivingIndustry Voices

The Economic Impact of Affordable Independent Living Speaks for Itself

by Jeff Shaw

By Matt Canterbury, President of Development, Homestead Cos. Seniors housing is seldom part of the broader economic development conversation. And when it is, affordable independent living communities are seldom recognized for their value to a city or town. Sometimes, they’re even resisted. This is a mistake that hurts older Americans and the communities in which they live. By 2030, our industry expects 10 million baby boomers — second only to seniors staying in their own homes — to be housed in independent living arrangements. While the majority of Americans 55 …

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Private-Pay Occupancy Grows 100 Basis Points in Fourth Quarter

by Jeff Shaw

ANNAPOLIS, Md. — Seniors housing occupancy increased for the second consecutive quarter and rose to 81 percent in the fourth quarter of 2021, a 100 basis-point increase from the third quarter and a 230 basis-point increase from a pandemic-related low of 78.7 percent in the second quarter. By comparison, the occupancy rate was 87.8 percent in March 2020, the first full month of the COVID-19 pandemic. 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 …

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Improving Penetration Rates Requires ‘Relentless, Proactive Engagement,’ Says Sherpa’s Smith

by Jeff Shaw

PHILADELPHIA — One statistic in the seniors housing industry that seems to have always held strong is a 10 percent penetration rate. In other words, out of the entire pool of potential buyers, only 10 percent become residents. David Smith suggests that the industry can do better. “Only 10 percent agree to move in, and most of that 10 percent are the people in the highest urgency, who have a crisis, who really have little or no choice. The choice of whether to move has essentially been taken away,” said …

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Argentum Launches Strategic Planning Initiative for the Future of Senior Living

by Jeff Shaw

ALEXANDRIA, Va. — Experiencing the headwinds of the pandemic and the enormous changes brought to the senior living industry, the Argentum board of directors has launched an industry and association visioning and strategic planning process to meet the challenges and opportunities ahead. To ensure objectivity and inclusiveness in the process, Argentum selected THRUUE Inc., a strategy and culture consulting agency, whose former clients have included AARP and LeadingAge. THRUUE was selected due to its team’s deep knowledge and experience in strategic planning processes and a differentiated approach to aligning an …

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AcquisitionsFeaturesNews

Transaction Volume Returns to Pre-Pandemic Normal, Say Webinar Panelists

by Jeff Shaw

After a pause in seniors housing acquisitions in 2020 as a result of the COVID-19 pandemic, it appears volume is back to normal, according to experts within the industry. “Before the pandemic started, volume was pretty good for acquisitiions and there was an ample pool of buyers out there,” said JP LoMonaco of Valuation & Information Group. “Debt and equity were available from among the widest variety of sources I’ve seen in a long time. Then we had the pandemic and everything came to a screeching halt.” LoMonaco’s comments came …

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OnShift Survey: Workforce Shortage, Leadership Burnout Among Top Seniors Housing Challenges

by Jeff Shaw

CLEVELAND — In its third annual Workforce 360 Survey, Cleveland-based HR software company OnShift revealed workforce shortages to be the top challenge among senior care organizations. Responses came from more than 2,000 long-term care, senior living and healthcare professionals. Approximately 79 percent are most concerned with staffing shortages, overtaking last year’s top challenge of finding and hiring qualified candidates (currently 62 percent). Staffing shortages have had a direct impact on clinical and financial operations, as 35 percent of respondents indicated they have had to limit new admissions or move-ins. Nearly …

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Active AdultDevelopmentFeaturesNews

The Future of Seniors Housing is All About Lifestyle, Say InterFace Panelists

by Jeff Shaw

PHILADELPHIA — Operators in the seniors housing industry have long been awaiting the incoming demographic wave of baby boomers reaching retirement age. Every day in the U.S., 10,000 people turn 65, and the number of older adults will more than double over the next several decades to top 88 million people and represent over 20 percent of the population by 2050. The oldest boomers are now 76. But this wave of customers will have very different desires than existing seniors housing residents, according to Tod Petty, chief operations officer at …

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Seniors Housing Occupancy Is on the Mend, Report Industry CEOs

by Jeff Shaw

PHILADELPHIA — After a pandemic that severely impacted occupancy rates across seniors housing — setting and then re-setting record lows — occupancy has rebounded, and all signs point to a strong recovery, according to CEOs from top companies in the industry. “Occupancy has clearly been on the mind of a lot of folks,” said JP LoMonaco, president of Valuation & Information Group. LoMonaco was kicking off a session at France Media’s InterFace Seniors Housing Northeast conference in Philadelphia on Dec. 2. The session was titled “Power Panel: CEOs Discuss the …

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Improving Seniors Housing Sector Fuels Anticipation of Financing Rebound in 2022

by Sarah Daniels

A COVID-19 hangover has tested seniors housing in 2021. Low occupancy rates along with staff shortages, rising expenses and other conditions have not only created a difficult operating environment, but they also have dampened financing activity as owners have delayed putting properties on the market or seeking refinancing. As fundamentals continue to improve, however, seniors housing finance experts are looking forward to a busier 2022. A significant rebound in demand combined with limited new supply helped push the average seniors housing occupancy rate to above 80 percent nationally in the …

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