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Staffing, Data, Partnerships Are the Three Keys to Seniors Housing Success, Says Pathway’s Justin Dickinson

by Jeff Shaw

LOS ANGELES — For an investor and operator, the most important factors a seniors housing company needs to have down to a science are staff recruitment and accountability, proper use of data and strong partnerships, according to Justin Dickinson, executive vice president with Pathway To Living. “There are three near-term goals that I’m focused on: operations, data and growth,” said Dickinson, who was named as successor to retiring CEO Jerry Finis as head of Pathway to Living earlier this year. His comments came during his keynote address at France Media’s …

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FeaturesNews

Seniors Housing Demand Hit Record High in Second Half of 2021, Says NIC

by Jeff Shaw

ANNAPOLIS, Md. — Demand for seniors housing hit an all-time high in the second half, signifying continued growth out of the depths of the effects of the COVID-19 pandemic, according to the National Investment Center for Seniors Housing & Care (NIC). The analysis came in the form of a blog post by Beth Mace, NIC’s chief economist. NIC is an Annapolis-based nonprofit firm that tracks industry data gathered from 31 primary metropolitan markets through its NIC MAP Vision product. The demand was measured by absorption, with the market absorbing 21,029 …

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DevelopmentFeaturesIndustry Voices

How to Overcome Labor, Supply Slowdowns in Development

by Jeff Shaw

Careful and thorough planning processes can get a delayed project over the finish line. By John Manning and Eric Quinn, KMI International Senior living construction has seen a significant surge since the turn of the millennium due to people living longer with each passing decade. The Population Reference Bureau (PRB) notes that the baby boomer generation could fuel a 75 percent increase in the number of Americans requiring nursing home care. With that comes the need for more senior living communities. This has provided construction managers and owners with an …

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Association Heads: Expect Occupancy, New Development to Return in Force

by Jeff Shaw

The seniors housing industry is slowly and steadily regaining occupancy after hitting record lows during the height of the COVID-19 pandemic. New development, meanwhile, was itself stymied by supply-chain issues, labor shortages and worksite shutdowns as a result of the pandemic. However, the latter issues have had a silver lining: Occupancy will have a chance to recover as fewer units will come online over the next few years. “The slow growth of inventory has been helpful on the occupancy front,” said James Balda, CEO and president of industry association Argentum. …

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FeaturesIndustry Voices

Where Is the Right Place to Age?

by Jeff Shaw

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 …

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AcquisitionsFeaturesFrom The MagazineInvestment

Buyer/Seller Landscape Shifts

by Jeff Shaw

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 …

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FeaturesFrom The MagazineInvestmentLegal Issues

Owners, Operators Get in Sync

by Jeff Shaw

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 …

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FeaturesIndustry VoicesPeopleTechnology

How to Manage the Great Resignation

by Jeff Shaw

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 …

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FeaturesIndustry VoicesOperations

The SHB Interview: Chris Guay, Founder & CEO, Vitality Living

by Jeff Shaw

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. …

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FeaturesFinanceFrom The Magazine

Lenders’ Patience Wears Thin as Pandemic Drags On

by Jeff Shaw

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 …

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