LOS ANGELES — Most seniors housing executives see this industry as a long-term play, according to panelists at France Media’s InterFace Seniors Housing West conference, held Feb. 20 at the Omni Los Angeles in Downtown Los Angeles. However, the industry “lifers” don’t necessarily see today’s investors taking the same approach to this product. The comments came during a session titled “Investment Update: Should Today’s Investors Buy, Sell or Hold in the 2020 Market?” “The investor community is focused on the quarter-to-quarter results and not thinking about the 10- to 20-year …
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Disruption of Current Healthcare Model is Just What the Doctor Ordered, Says NIC Keynote Speaker
by Jeff Shaw
SAN DIEGO — As the long-standing “continental divide” between the healthcare industry and seniors housing begins to close due to economic realities, the disruptors who embrace the opportunity to build a more integrated model of care for the elderly will be the big winners. That’s the message Andy Waldeck, senior partner at Boston-based growth strategy consulting firm Innosight, delivered Thursday afternoon during his keynote address to several hundred attendees at the NIC Spring Conference. “Disruption is actually a process. It explains how industries change, how they become more affordable, more …
Integrating Healthcare Services into Seniors Housing Reduces ER Visits, Hospital Admissions
by Jeff Shaw
SAN DIEGO — Integrating healthcare services — such as primary care and nurse practitioners — into seniors housing can reduce costly emergency room (ER) visits and inpatient hospital stays, according to new data from ATI Advisory released Wednesday at the 2020 NIC Spring Conference. Comparing an assisted living facility that incorporates healthcare services to facilities that do not provide healthcare, ATI researchers found utilization rates plummeted by more than 50 percent in the integrated care model. “The data reveal a tremendous opportunity to reduce hospital-based healthcare services that put seniors’ …
LOS ANGELES — There are two main motivations that typically result in seniors making the transition to seniors housing. “Curiosity and crisis,” stated Matt Stevenson, senior vice president of operations at Oakmont Management Group. “These are completely separate, but really clear triggers.” Stevenson made the remarks as a participant in “The Power Panel: CEOs Discuss the State of the Industry.” The discussion was part of France Media’s InterFace Seniors Housing West conference, held Feb. 20 at the Omni Los Angeles in downtown Los Angeles. Panelists emphasized the importance of understanding …
LOS ANGELES — There is a deficit in seniors housing and it has nothing to do with occupancy rates, investment dollars or development opportunities. It’s the labor shortage, according to Charles Turner, a longtime industry veteran and current CEO of Kare, an application that pairs understaffed seniors housing communities with temporary workers. Turner made the comments as keynote speaker at France Media’s InterFace Seniors Housing West conference, held Feb. 20 at the Omni Los Angeles. “We all know what’s coming in the next decade — an onslaught of baby boomers aging into …
LOS ANGELES — Seniors housing development costs are expected to rise modestly in 2020, with labor and land the primary drivers of higher expenditure, according to research from CBRE, a global real estate services and investment firm based in Los Angeles. Total cost for a seniors housing development rose by 6.4 percent in 2019 to an average of $317 per square foot. Average returns (stabilized net operating income as a percentage of overall development costs) rose to 9.5 percent, up approximately 60 basis points in 2019. This is attributable to …
Aging-in-Place Technology Has Its Limits, Says a Reassuring InterFace Seniors Housing Panel
by Jeff Shaw
PHILADELPHIA — Will today’s emerging aging-in-place technologies, designed to help the elderly remain in their own home for a longer period of time, lead to significantly reduced demand for seniors housing? The question was a hot topic at the InterFace Seniors Housing Northeast conference last Thursday in Philadelphia following a recent front-page article in The Wall Street Journal under the following headline: “Boomers Want to Stay Home. Senior Housing Now Faces Budding Glut.” The piece argues that aging-in-place technology poses a challenge to builders of senior living communities, particularly at a …
The Federal Housing Finance Administration’s (FHFA) recent decision to maintain healthy multifamily purchase volumes for Fannie Mae and Freddie Mac calmed market uncertainties over capital availability for the remainder of 2019 and 2020, which had increased loan spreads by 30 to 50 basis points over the summer. The decision also addressed similar uncertainties in the seniors housing industry and, to some degree, growing concerns over affordability. Both were hot topics at the National Investment Center for Seniors Housing and Care’s fall conference in mid-September, and M&T Bank’s healthcare banking and …
SAN DIEGO — A panel of nonprofit seniors housing owner-operators has revealed what it believes to to be the keys to success — entering into partnerships with other organizations on a selective basis and providing community-based services outside the seniors housing properties’ walls.