“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 …
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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 …
The fallout from the coronavirus pandemic sweeping across the globe has been swift and severe with Corporate America taking extraordinary steps to protect its workers. Detroit’s Big Three automakers — Ford, General Motors and Fiat Chrysler — are suspending production this week in North America as a precaution against the coronavirus. Meanwhile, major airlines have cut capacity by 50 percent or more systemwide due to sharply reduced consumer demand. Millions of public school students will be off for at least the next few weeks in an effort to keep the …
LOS ANGELES — If you look hard enough, it’s easy to see seniors housing opportunities throughout the U.S. Leftover land, raw sites, office buildings and obsolete malls can all serve as promising locations, according to participants in the “Experts Analyze the Smartest Plays for Developers in 2020” panel. The discussion took place during France Media’s InterFace Seniors Housing West conference, held Feb. 20 at the Omni Los Angeles. Though there was no one-size-fits-all approach to identifying development opportunities, panelist David Waite, partner at Cox, Castle & Nicholson, believes there are …
Brookdale CEO Sees ‘Great Progress’ in Company Turnaround Effort After Two Years at the Helm
by Jeff Shaw
Remember the signature tagline of the E.F. Hutton commercials of the 1970s and 1980s touting the sharp insights of the American stock brokerage firm? “When E.F. Hutton talks, people listen.” In its heyday, E.F. Hutton was one of the largest stock brokerage firms in the country. When Lucinda “Cindy” Baier, president and CEO of Brookdale Senior Living (NYSE: BKD), speaks, the seniors housing industry also listens intently — in part because of the company’s sheer size. As of Feb. 1, the Brentwood, Tennessee-based company operated and managed independent living, assisted …
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How One Lender is Expanding to Meet the Evolving Needs of Seniors Housing Borrowers
If they haven’t already, it may be time for investors to reject the notion that seniors housing is a niche asset class. To meet surging demand for the properties brought on by the aging baby boomer population, sophisticated owners have spent years building modern, amenity-rich properties that feel like home, a far cry from 20th century versions of the model, which were often bare-boned and sterile environments. Despite the complex nature of underwriting healthcare operators, the number of lenders serving seniors housing developers has ballooned over the years given the …