Despite the economic turmoil and operational stress in the wake of the COVID-19 pandemic, all parts of the seniors housing — including the lenders, investors, owners and operators — appear to be taking a measured approach, according to Brian Sunday, director with AEW Capital Management. “We keep preaching patience,” said Sunday. “Occupancies are dipping, expenses are rising, but nobody’s pressing the panic button. It’s a long-term play.” The comments came on a webinar hosted by France Media Inc. and Seniors Housing Business on Wednesday, May 13. Other panelists included Rich …
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DENVER — As expected, seniors housing inquiries, tours and move-ins fell significantly in April as the industry felt the effects of the COVID-19 pandemic, according to marketing software provider Enquire. The Denver-based company compiled sales and marketing data from over 2,200 seniors housing communities throughout the country. Compared with April 2019, inquiries fell 33 percent for independent living, 41 percent for assisted living/memory care and 43 percent for continuing care retirement communities (CCRCs). “We have seen several surveys and opinions about the impact COVID-19 is having on senior living sales …
CHICAGO — Despite the economic devastation caused by the COVID-19 outbreak in the United States, 86 percent of investors are still seeking opportunities to acquire seniors housing properties, according to a survey conducted by Heavenrich & Co. The Chicago-based seniors housing investment brokerage conducted the survey from April 15 to April 20, contacting 448 owners, operators and investors throughout the United States. Not only are investors still interested in buying, many are looking to pick up their acquisition pace. More than half of respondents expect to spend the same or …
Operators Must Show Appreciation, Increase Safety to Retain Staff During Pandemic, Says SHB Webinar Panel
by Jeff Shaw
As the COVID-19 pandemic has shut down many businesses around the world, seniors housing is in a tough spot. In charge of caring for seniors — those most vulnerable to the disease — communities must stay open, but while doing everything possible to ensure the safety of residents. The industry already faced a staffing shortage for frontline workers. Now many of those workers either can’t come into work for fear of transmitting COVID-19 to an older family member, or are resigning out of fear of contracting the disease themselves. “Early …
Adequate COVID-19 Testing in Short Supply in Senior Living Industry, Concludes NIC Webinar Panel
by Jeff Shaw
“How do you fight the enemy without knowing where it is?” The question posed by Kathryn Sweeney, co-founder and managing partner of Blue Moon Capital Partners LP, underscores the need for senior living communities to have priority access to personal protective equipment (PPE) and adequate testing to battle the COVID-19 virus. “We’re really fighting this battle with very rudimentary and limited tools,” said Sweeney, whose Boston-based firm provides equity exclusively to the seniors housing sector. “We have had inconsistent access to tests in our portfolio. What we’re finding is those …
As the COVID-19 pandemic upends just about every aspect of life, senior living communities are retooling their marketing strategies. Instead of letting up on sales efforts, communities are finding new ways to communicate supportive messages to prospects while reinforcing their brands with a positive twist. “We recognize the sensitivity around sales and marketing at this time,” said Valerie Whitman, vice president of senior living for LeadingResponse, a Tampa-based customer acquisition service. “We can show the world what we can do for seniors and their families. This is an opportunity for …
Great uncertainties cloud the immediate outlook for the U.S. economy and the seniors housing and care industry in the wake of the COVID-19 pandemic. But one thing is certain: Unlike other industries that have been forced to shut down, senior living communities are open and continue to serve residents. With that framework in mind, a March 26 webinar sponsored by the National Investment Center for Seniors Housing & Care (NIC) addressed the ongoing financial implications of the COVID-19 pandemic for operators, developers and capital providers. The webinar is the first …
Survey: Residents Have High Opinion of Seniors Housing Care, but COVID-19 Has Hurt Reputation
by Jeff Shaw
CLACKAMAS, Ore. — The good news, according to a recent survey, is that residents in seniors housing communities largely believe that senior living provides good care. The bad news is that those who don’t live there believe the care is poor. SeniorList, a Clackamas-based company that connects seniors with products, services and resources including seniors housing referrals, conducted the survey. Those over 65 and their families were questioned, with a total of 715 respondents. Of the respondents who currently live in seniors housing, 71 percent said that senior living provides …
WASHINGTON, D.C. — As the COVID-19 pandemic puts a strain on seniors housing operators, especially with the bad press brought on by 35 deaths from the virus at a single skilled nursing facility in Kirkland, Wash., the associations serving seniors housing have kicked lobbying efforts into high gear. The three main groups are the American Seniors Housing Association (ASHA), a Washington, D.C.-based organization supporting the seniors housing industry; Argentum, an Alexandria, Virginia-based trade association dedicated to supporting companies operating professionally managed senior living communities; and Washington, D.C.-based LeadingAge, which advocates …
Contrary to speculation that families are removing their elderly loved ones from seniors housing in fear of the COVID-19 pandemic, a new survey reports that 79 percent of operators saw no significant changes in move-outs last week and no significant changes in occupancy. Activated Insights, the senior care group of Great Place to Work, conducted the survey of private-pay seniors housing operators representing 1,078 buildings and 100,899 units. Several U.S. operators noted that sales and marketing activities including all move-ins have been halted completely during the pandemic. Other operators continued …