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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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FeaturesNewsOperationsTechnology

Smart Tech Implementation Can Make Operations More Efficient, Say Webinar Panelists

by Jeff Shaw

Implementing technology is a tricky proposition for seniors housing operators. Will the return justify the expense? Will staff learn and use the technology? Will residents use it and like it? Perhaps most importantly, will it drive more efficiency and allow fewer employees to do more during a labor crisis? If a purchase is to be worthwhile, the answer to all of those questions should be “yes.” That was the message of panelists on a recent webinar entitled “Rethinking Seniors Housing Resident Engagement — Technology that Improves Staff Efficiencies while Enhancing …

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FeaturesNewsOperations

Webinar Panelists: Labor Challenges, Vaccine Mandates Require Creative Hiring Strategies

by Jeff Shaw

Hiring challenges have become a nationwide issue across industries, but seniors housing operators may be among the worst hit. First, the COVID-19 pandemic scared many prospective workers away from the industry. Then many stayed home to take care of children who couldn’t attend school, bolstered by enhanced unemployment benefits. Now many operators are faced with a difficult decision: Should they mandate COVID-19 vaccines among their staff, adding more difficulty to the staffing situation but better protecting residents from the deadly virus? This was the topic discussed on a webinar entitled …

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Active AdultFeaturesNews

Active Adult Communities Thrived During Height of Pandemic, Say NIC Panelists

by Jeff Shaw

HOUSTON — Although the seniors housing industry as a whole suffered big setbacks throughout the COVID-19 pandemic, hitting record-low occupancy rates across the board, one sub-segment was an exception to the rule. “During COVID there were clear winners and losers in commercial real estate,” said Aron Will, vice chairman of debt and structured finance at CBRE, where he is also co-head of CBRE Senior Housing. “Industrial, life sciences, medical office and multifamily were very clear winners. But one asset class that’s been overlooked is active adult, as it was also …

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FeaturesNewsTechnology

NIC Plans Deeper Data with New Partnerships, Studies

by Jeff Shaw

HOUSTON — The National Investment Center for Seniors Housing & Care (NIC) has plans to improve its data for its constituents through commissioned studies and new technology partnerships. The announcement was made at the NIC Fall Conference, held Nov. 1 through 3 in Houston. Brian Jurutka, president and CEO of NIC, led a press conference to kick off the event on Monday. The first order of business was two new software partnerships with Glennis Solutions and Eldermark to improve NIC’s data set for actual rental rates. The actual rates initiative …

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CBRE Arranges $9.5M Acquisition Financing for Pine Valley Retirement Community in Tuscaloosa, Alabama

by Jeff Shaw

TUSCALOOSA, Ala. — CBRE Senior Housing has arranged acquisition financing for Pine Valley Retirement Community, a 113-unit independent living and assisted living community in Tuscaloosa. The borrower is a joint venture between Winterpast Capital Partners and Broadview Real Estate Partners. The seller was not disclosed. Situated on a 10-acre site, the community comprises 98 independent living units, which includes 38 patio homes, and 15 assisted living units. Post-closing, the buyer plans to deploy approximately $2.4 million in capital upgrades. Aron Will, Austin Sacco and Tim Root of CBRE Senior Housing …

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Growing Competitive Threats, COVID Fallout Complicate Seniors Housing Marketing Efforts, Say LeadingAge Panelists

by Jeff Shaw

ATLANTA — As a wide variety of companies look to capitalize on the baby boomer generation reaching retirement age, traditional seniors housing operators are facing an ever-growing set of competitors for the services offered. Options such as active adult living and home care have always been a threat, but they’ve become more so. Active adult communities are now building with plans for seniors to age in place, according to Rob Love, president and CEO of marketing firm Love & Company. What’s more, services that used to make seniors housing a …

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