The seniors housing industry today is benefiting from a “more disciplined, rational debt sector” than in the past, emphasizes Chuck Hastings, vice president of finance and business development for Juniper Communities, a seniors housing operator of 22 properties in four states: Colorado, Florida, New Jersey and Pennsylvania. Twelve years ago, Hastings recalls that a borrower could secure acquisition financing at a 90 percent loan-to-value ratio, and the loan would be nonrecourse. “Those days are gone,” he says. Today, borrowers seeking acquisition financing can realistically expect to obtain a nonrecourse loan …
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From the use of special lighting in the common areas to spa-like amenities to community gardens, designers are all in on creating a better physical environment for residents. By Lynn Peisner Wellness is no longer a buzzword used to promote yoga retreats, organic foods or cruelty-free beauty products. It’s a big movement, often backed by big money, that evolves every year and permeates every demographic group, including seniors. Daily headlines reveal just how much wellness is embedded in today’s zeitgeist. Effective October 1, Weight Watchers changed its name after 65 …
Three examples of communities that changed course for the better. By Jane Adler As consumer expectations change, older properties can be repositioned to compete. Local market dynamics often dictate the best approach, whether it’s adding new amenities or starting over from scratch. What follows are three different case studies of how properties can be repositioned to meet today’s market. John Knox Village: Rightsizing a CCRC Developers and investors like to talk about unit counts as a measure of project size and success. But sometimes less is more. In 1990, John Knox …
Appraisers are forced to react to a seniors housing industry in a constant state of transformation. By Jeff Shaw Seniors housing has undergone some rapid adjustments in recent years, such as the sea change in skilled nursing and the rush of new investors into the sector, with more change on the way. Appraisers, who above all seek to take an objective, unbiased look at the value of seniors housing properties, have a front-row seat to this evolution of the industry. When asked the storyline of the last 12 months in …