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 …
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 …
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 …
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 …
ATLANTA — Even before the pandemic struck the United States in early 2020, rising labor costs were putting downward pressure on margins for seniors housing owners and operators. The public health and economic crises stemming from COVID-19 have only amplified the problem, say seniors housing professionals. In an industry where residents overwhelmingly belong to one of the most COVID-19-susceptible demographics, seniors housing operators are now wrestling with the question of whether to require staffers to get vaccinated. At the same time, they are battling widespread wage increases brought on by …
As a concept, the term “active adult” supports the notion that age is just a number. As an evolving subcategory of seniors housing, active adult is a property type that means different things to different people. For that reason, designers and builders of this asset class face the unique challenge of visualizing and delivering communities that appeal to a broad range of renter profiles. Effective, consistent branding is one of the biggest challenges within the active adult sector, which is very much in its infancy relative to other commercial property …
As the seniors housing industry slowly recovers from occupancy declines and disrupted operations due to COVID-19, investors are back in the market hunting for deals. Some $3.2 billion in seniors housing and care facilities traded hands in the second quarter this year, a year-over-year increase of a whopping 122 percent, according to Real Capital Analytics, which tracks real estate deals of $2.5 million or more. The jump in sales is hardly surprising when compared to the pandemic-riddled prior period. But unlike past downturns, the fact that seniors housing has become …
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Using Technology to Address Challenges Exposed by COVID
COVID-19 made clear the need to overhaul technology capabilities in senior living facilities everywhere. The next wave of senior care’s tech evolution will encompass what the pandemic highlighted: a need for technologies that not only enhance residents’ physical safety, but their holistic wellbeing as well. The pandemic also brought to light a renewed focus on the importance of integrated technologies that improve staff efficiencies. As we explore the next generation of senior living’s technology evolution, it’s important to remember the foundation to all technology advancements: reliable Wi-Fi. The ability to …
Hiring and retaining good employees was already one of seniors housing operators’ top challenges before the COVID-19 pandemic struck. Despite the many new problems that the outbreak presented, many in the seniors housing industry saw a potential silver lining: With so many losing jobs in the hospitality sector, among others, would this be a chance for operators to snatch up those workers? Unfortunately, it appears that did not come to fruition. “When the pandemic started and there were so many layoffs in the hospitality industry, I thought ‘Here we go. …
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In the Seniors Housing Sector, a Sense of Recovery is Growing
For more than a year, seniors housing operators have battled rising vacancy, pressure on net operating income and uncertainty about the future as potential residents steered clear from property tours and lease commitments. Those difficulties have created a tough financing environment for the segment. But a growing number of seniors housing discussions today are centered on how operators and the industry are recovering, according to Christopher Callaghan, head of healthcare banking at M&T Bank. To what degree a recovery is occurring, however, depends on several variables. “There is still a …