Features

General contractors in the senior living space have faced tough challenges in the wake of COVID. Construction material costs have fluctuated wildly, while hiring good employees has proven difficult, slowing down timelines. Seniors Housing Business spoke with Richard Lara, president of RAAM Construction Inc., about the challenges builders face in the senior living sector. SHB: Tell us a bit about your business and how much work you’ve done in the seniors housing space. Lara: RAAM Construction is a general building contracting firm specializing in multi-unit construction projects throughout California. In …

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ANNAPOLIS, Md. — Private-pay seniors housing occupancy in the United States increased 140 basis points in the third quarter of 2021 from 78.7 percent to 80.1 percent. The second-quarter number was the record low, a result of the effects 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 gathered from 31 primary metropolitan markets through its NIC MAP Vision product. Private-pay seniors housing comprises independent living, assisted living and memory care. …

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ANNAPOLIS, Md. — Occupancy at U.S. skilled nursing facilities increased to 75 percent in July 2021 compared to 58 basis points from the previous month, according to NIC MAP data. This marks the sixth consecutive month of improved occupancy rates for the skilled nursing sector. Despite this improvement, occupancy remains below its pre-pandemic level of 85.5 percent in February 2020. The National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit data firm, gathers the data from approximately 1,300 individual skilled nursing facilities in 47 states.

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Especially when compared to the early days of the COVID-19 pandemic, the U.S. economy is showing some strong results, according to JP LoMonaco of Valuation & Information Group. There were 60 percent more new businesses started in the first half of 2021 than the same period of 2020, LoMonaco noted. Initial public offerings (IPOs), at 80 per month, are at nearly triple the pace of January 2020. Compared to the pandemic lows of March 2020, the Dow Jones Industrial Average is up 82 percent, the S&P 500 is up 93 …

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Steven Muth Seniors stabilization M&T

Seniors housing owners struggling with low occupancy and maturing debt have found themselves in a state of financing limbo. Preferred lenders that cater to the industry, including FHA/HUD, Fannie Mae and Freddie Mac, won’t consider providing a mortgage to properties that are not stabilized. Operators need time to remedy the problem amid COVID-19’s detrimental influence on resident recruitment and other operations. The situation is particularly challenging for developers who have recently completed projects but are experiencing longer-than-anticipated lease-up periods and may not have qualified for any federal aid programs. What’s …

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WASHINGTON, D.C. — The American Seniors Housing Association (ASHA), in partnership with Seniors Housing Business, has released the 2021 edition of the ASHA 50, which ranks the 50 largest owners and operators in the U.S. seniors housing space. Based in Washington, D.C., ASHA is a trade association that advocates for and represents companies that develop, own, operate and finance seniors housing. The ASHA 50 rankings are based on self-reported portfolio sizes, ranked by total number of units, as of June 1, 2021. Data was also used from other reliable sources, …

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MALVERN, Pa. — HMP Global, a Malvern-based healthcare event and education company, has acquired the annual Senior Living Executive Conference & Expo from Argentum, a national association supporting companies operating senior living communities. Financial terms of the agreement were not disclosed. Nearly 3,000 executives from 750 companies attend the annual. Participating companies represent decision-makers from for-profit and nonprofit operators, real estate investment trusts (REITs), private equity firms, capital providers, industry suppliers, media and academia. The 2022 event will resume its pre-COVID meeting pattern and take place May 16 to 18 …

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ATLANTA — Seniors housing operators have been grappling the past 18 months with how to maintain their properties and keep occupancy high while also protecting their staff and residents, who are the most vulnerable population for infections and death from the COVID-19 outbreak. With the rise of the Delta variant in recent weeks, owners and operators are having to make tough decisions to care for their residents, although now they have built some muscle memory on how to operate effectively amid the pandemic. “We are better at dealing with COVID-19 …

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ATLANTA — The beginning of the COVID-19 pandemic made everyone question the future, and for investors and owners in the seniors housing business sector, things were rocky. The National Investment Center for Seniors Housing and Care reported the occupancy rate in seniors housing facilities decreased 680 basis points in 2020 to record lows. In 2021, there has been a rebound in confidence in the economy as people return to working in an office and many Americans have been fully vaccinated against COVID-19. Additionally, occupancy rates in seniors housing properties have …

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ATLANTA — Driven by the desire of a healthy lifestyle, two areas that senior living developers are currently focusing on are the fitness center and outdoor spaces, according to Scott Gensler, vice president of business development with Erickson Senior Living. “Every time I look at a plan, the fitness center gets bigger and bigger and bigger,” said Gensler. “Then we open it, and it’s still not big enough.” Not only is the fitness center becoming larger, but it’s also becoming more of a prominent feature in Erickson’s continuing care retirement …

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