There are two vaccines for COVID-19 awaiting approval by the U.S. Food and Drug Administration, signaling that there is an end to the pandemic on the distant horizon. However, the impact of the outbreak on the seniors housing industry may be long-lasting. A group of the industry’s top brass recently suggested that many of the changes made to adapt to the virus may in fact be permanent, and operators should prepare for this. The comments came during a panel titled “The Power Panel: CEOs Discuss the State of the Industry” …
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WASHINGTON, D.C. — The American Health Care Association and National Center for Assisted Living (AHCA/NCAL), a Washington, D.C.-based organization representing more than 14,000 nursing homes and assisted living communities across the country, has released a report showing new COVID cases in nursing homes in the U.S. have now reached a record number of weekly new cases. Recent data released by Johns Hopkins University and the Centers for Medicare & Medicaid Services (CMS) show that with the recent spike in new COVID cases in the general U.S. population, weekly nursing home …
DALLAS — While seniors housing will continue to be impacted over the near term as a result of the COVID-19 pandemic, investors believe the sector has turned the corner from 2020’s significant challenges, according to the CBRE U.S. Seniors Housing & Care Investor Survey. Investors responding to the survey indicate that tempered investment growth is likely in the short term, with a full recovery to take longer. In the long term, respondents are encouraged by an aging population and a greater understanding of the threats posed by the pandemic. Seniors …
In spring of 2019, the National Investment Center for Seniors Housing & Care (NIC) released a research study showing that fewer than half (46 percent) of America’s middle-income seniors will be able to afford the $60,000 average annual costs of seniors housing and out-of-pocket medical expenses in 2029. The silver lining of the study was that seniors housing developers and operators could opt to build for this underserved market. About 18 months since the study was released, the dynamic hasn’t changed much, according to Michael Edwin, vice president with consulting …
While the recession caused by the COVID-19 pandemic has certainly made life tougher for active adult investors, there is still capital available. It has just become harder to get. “The equity is pretty rational right now. It’s the TINA phenomenon — there is no alternative,” said Mark Marasciullo, chief investment officer with The United Group of Companies, which develops active adult properties. “There is, institutionally speaking, more and more equity piling up on the sidelines. The market’s pretty liquid, but that doesn’t mean it’s easy. There’s a lot of capital …
The only thing certain about the COVID-19 pandemic may be its uncertainty. JP LoMonaco of Valuation & Information Group recalls the start of the outbreak in the United States in March, when he expected the whole incident to be over in a few weeks. “Since then I’ve stopped guessing when the pandemic will be over,” said LoMonaco. The comments came during an exclusive webinar titled “Seniors Housing Market Valuation: Is the Pandemic a Disruption or Start of a Fundamental Shift?” hosted by Seniors Housing Business. LoMonaco moderated the panel, which …
The sudden onset of the COVID-19 pandemic sent many seniors housing operators scrambling to find new technologies that could help them adjust to quickly changing market needs. “Over the last nine months, COVID forced seniors housing to accelerate its implementation of technology,” said Russ Horowitz of sales call analytics company Marchex. “It created a reactive need for how to adopt technology around things like safety and security, and how to support leads with things like virtual tours.” However, there may be a long-term silver lining. As operators adjust to their …
ANNAPOLIS, Md. — Private-pay seniors housing occupancy fell 260 basis points in the third quarter of 2020, from 84.7 percent to 82.1 percent, indicating a steady decline since the outbreak of the novel coronavirus. This is the second quarter in a row where occupancy fell more than 250 basis points, meaning the seniors housing sector is now experiencing its largest drop in occupancy on record. 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 …
NIC Panel: Simple Solutions Can Shorten Pandemic, But Seniors Housing Has Bright Long-Term Future Regardless
by Jeff Shaw
The COVID-19 pandemic has been an existential crisis for the seniors housing industry, where the people most susceptible to the disease are the same who live in the communities. But many still believe in long-term viability and success of the sector. That was the message of panelists in a discussion titled “Four Weeks Out from the General Election: A Policy Discussion” held at the 2020 NIC Fall Conference. Being held virtually this year due to the pandemic, the event is still going on this week. Panelists included moderator Soledad O’Brien, …
Technology, Wellness Define Seniors Housing of the Future, Say Exclusive Webinar Panelists
by Jeff Shaw
As the seniors housing industry prepares for the incoming wave of future residents — the oldest baby boomers are now 74 years old — operators are adapting their strategies. “Being able to pivot your business is really key,” says Kelly Keefe of seniors housing software company MatrixCare. “There’s been an increasing shift, more of a light put on wellness initiatives.” Keefe’s comments came during a webinar panel she moderated on Sept. 17 titled “How the Pandemic, Baby Boomers and Technology are Changing the Senior Living Business.” Presented by Seniors Housing …