ANNAPOLIS, Md. — Occupancy at U.S. skilled nursing facilities in December 2020 reached its lowest level since data have been collected, ending the year at 71.7 percent, according to the National Investment Center for Seniors Housing & Care (NIC). The data comes from over 1,500 skilled nursing facilities in 48 states that report data to NIC, an Annapolis-based data and analytics organization serving the seniors housing industry. The report includes information through the end of 2020. Average skilled nursing occupancy declined 13.3 percentage points since February 2020, before the COVID-19 …
WASHINGTON, D.C. — The American Health Care Association and National Center for Assisted Living (AHCA/NCAL) has released a report showing nursing homes in the U.S. have seen the lowest number of new COVID-19 cases since the Centers for Medicare & Medicaid Services (CMS) started tracking back in May 2020. AHCA/NCAL is a Washington, D.C.-based organization representing more than 14,000 nursing homes and long-term care facilities across the country. The report suggests that the various vaccines for COVID-19 are working, the organization says. Recent CMS data shows that nursing homes have …
WASHINGTON, D.C. — The American Health Care Association (AHCA), representing more than 14,000 nursing homes and long-term care facilities across the country, and LeadingAge, the association of more than 5,000 aging services providers including nursing homes, have set a nationwide goal for nursing home staff vaccinations. With the help of the Centers for Disease Control and Prevention (CDC), the D.C.-based organizations recommend that 75 percent of the approximately 1.5 million nursing home staff throughout the country be vaccinated against COVID-19 by June 30, 2021. “With COVID-19 vaccinations being distributed across …
Seniors housing investors may be switching from development to acquisitions in the near term, as highly motivated sellers seek to unload existing properties at a lower price than the cost of building a new community. The prospect of highly motivated sellers has largely come as a result of the stresses of operating seniors housing during a global pandemic. “We’re starting to see valuations that are well below what we can develop for,” said Bill Pettit of R.D. Merrill Co. “If it’s the right business model and the right locations, we’ll …
Amid the uncertainty of 2020, multifamily real estate portfolios as a whole outperformed expectations. However, seniors housing faced unique operational challenges during a pandemic that has been particularly devastating to older populations. The government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, were instrumental in keeping liquidity in the housing market. Entering 2021, the agencies continue their focus on mission-based lending to increase affordable housing, including in the seniors housing sector. Capital markets experts Angela Mago, president of Key Commercial Bank and Real Estate Capital and member of the executive leadership …
A smarter tech strategy requires a future-flexible network. By Deanna MacCormac, Corning Optical Communications Telehealth, resident tablet programs, touchless building automation, reliable high-speed Internet, campus-wide communications, remote-monitoring, wearables, sanitation robots — all of these technologies are becoming an important part of the senior living conversation. The right technology can help keep communities safer, happier, healthier, connected and operating more efficiently. Though many communities understand why they may need to bring a new technology into their space, they are often faced with the challenge of how to do so. Time to …
Seniors housing construction has continued during the COVID-19 pandemic — but perhaps not on the developers’ original timelines. “We have seen just about every obstacle thrown at us, from government shutdowns to disruptions in the supply chain to subcontractors contracting COVID to inspectors not showing up,” said Charlie Jennings, chief development officer, Harbor Retirement Associates. “Every time I start to think the worst is behind us, there’s something waiting around the corner. Unfortunately, I don’t think we’ve gotten past that hump yet.” Harbor’s current seniors project under construction is now …
ANNAPOLIS, Md. — Private-pay seniors housing occupancy in the United States decreased 130 basis points in the fourth quarter of 2020 from 82.0 percent to 80.7 percent, a record low. Since the first quarter of 2020, occupancy fell by 680 basis percentage points. 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. Private-pay seniors housing comprises independent living, assisted living and memory care. “Seniors housing occupancy declines were less pronounced …
WASHINGTON, D.C. — More than half of assisted living providers say they won’t survive another year at the current operating pace due to the COVID-19 pandemic’s impact on both occupancy and expenses. That’s according to a recent survey by the American Health Care Association/National Center for Assisted Living (AHCA/NCAL), a Washington, D.C.-based association of healthcare providers. The survey polled 240 assisted living operators nationwide. Of the respondents, 56 percent said they would not survive another year, while 55 percent said they are currently operating at a loss. Nearly 80 percent …
With two approved vaccines to combat COVID-19, the end of the pandemic is visible on the horizon. However, some seniors housing experts say it may be the third quarter of 2021 before the sector starts to see the turnaround take hold. “We have a much clearer picture of what the post-COVID world will look like,” said Adam Heavenrich, managing director of Heavenrich & Company. “The COVID world of 2020 will hopefully look drastically different from the post-COVID world of 2021.” The comments came during a panel titled “Investment Update: Should …