SANTA MONICA, Calif. — The National Investment Center for Seniors Housing & Care (NIC) has awarded $3 million to the Santa Monica-based Milken Institute. The funds will be used to establish the Aging Innovation Collaborative (AIC) within the Institute’s Center for the Future of Aging, which advances healthy longevity and financial security through policy, research, convenings and multisector partnerships. The AIC will engage experts to develop new models of housing, healthcare and community that meet the needs of a growing U.S. population of older adults. By removing silos between industries …
ANNAPOLIS, Md. — Skilled nursing occupancy nationwide increased 59 basis points from July to August, reaching 82.3 percent at the end of the month. That’s according to a blog post this week by Bill Kauffman, senior principal with the National Investment Center for Seniors Housing & Care (NIC). The Annapolis-based organization is the main source of data tracking for the seniors housing industry. The new skilled nursing occupancy number is an increase of 142 basis points from the pandemic low of 75 percent in January 2021. Occupancy hovered around 81 …
An analysis of over 273,000 web reviews of seniors housing communities has shown that the top priority of residents and their families relate to cleanliness and staff. That’s according to analysis by Seniorly, a seniors housing referral service, which partnered with data firm Skypoint to gather the data. Close to a quarter of reviews regard cleanliness. The presence of odors, which are common in senior living environments, often serve as a proxy for quality and rigor, particularly during sales tours. Nearly a quarter of reviews also centered on the administrative …
DUBLIN — The U.S. assisted living market is experiencing robust growth, driven by several factors including the increasing number of baby boomers, a rising aging population, higher healthcare expenditure, and a growing preference for independent living. The market is currently characterized by substantial activity, with a promising outlook for the future. A recent report from ResearchAndMarkets.com valued the U.S. assisted living market at $97.6 billion in 2022 and predicted it will reach $133.4 billion by 2029 with a compound annual growth rate (CAGR) of 5.35 percent. The report — titled …
LOS ANGELES — A Los Angeles County judge has dismissed all charges against memory care giant Silverado, as well as its CEO Loren Shook and two other executives. Los Angeles County District Attorney George Gascón brought the charges in March, and they were related to 14 COVID-related deaths at Silverado communities. The complaint claimed that Silverado hadn’t followed proper clinical protocols when admitting a resident in March 2020, which lead to an outbreak at one of the operator’s facilities. The charges were shocking at the time they were brought — …
CHICAGO — Welltower CEO Shankh Mitra believes it could be a few years before seniors housing development will once again be feasible for the giant healthcare REIT to undertake because of strong headwinds facing the industry, including the “out-of-control” cost of construction. Construction costs have increased 50 percent or more over the past five years, according to Mitra. “I don’t see how that [cost] comes down meaningfully unless we solve the labor situation.” There were 363,000 job openings in the construction industry at the end of July, up 10,000 from …
Data on occupancy and expenses plays an invaluable role in helping operators understand their business. Still, that data often has a sizable blind spot inside the resident rooms. That gap in knowledge was the topic of a webinar held Oct. 17, titled “Inside the Resident Room: In-Unit Data Helps Seniors Housing Operators Improve Safety & Increase Profitability.” Monitoring company EyeWatch LIVE sponsored the Seniors Housing Business webinar. The panel of industry experts included Joshua Freitas, chief research officer, CERTUS Senior Living; Susan Coppola, founder and CEO, Benessere Health Advisory; Jesse English of …
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What’s to Come: An Optimistic Outlook for Seniors Housing
By Berkadia Seniors Housing & Healthcare Like many sectors within the commercial real estate (CRE) industry, the seniors housing market faced headwinds over the past year, largely due to tightening financing conditions and widespread economic uncertainty. However, based upon research and anecdotal evidence from the clients and companies we serve in the seniors housing space, we believe the sector is well positioned to bounce back and generate positive operating results for the remainder of 2023 and into 2024. View a higher resolution version of the construction trends graph above here. Fundamentals …
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Webinar — Inside the Resident Room: In-Unit Data Helps Seniors Housing Operators Improve Safety & Increase Profitability
The Oct. 17 webinar “Inside the Resident Room: In-Unit Data Helps Seniors Housing OperatorsImprove Safety & Increase Profitability“ focused on how resident room data can help seniors housing operators improve patient outcomes and reduce operating costs. During this brief, one-hour discussion, seniors housing industry experts talked about some of the most challenging and important topics facing the world of senior living: staffing crises, ballooning costs, data gathering tactics and increasing resident safety while maintaining their privacy. Listen in to learn more about senior living technology and its role in fall prevention, …
CHICAGO — Seniors housing investors expect that capitalization rates will increase over the next 12 months, according to the inaugural edition of the Seniors Housing Investor Survey. Partner Valuation Advisors, a Chicago-based valuation firm, completed the survey in September with over 100 respondents. The purpose of the survey is to identify current trends in the seniors housing sector, which has seen numerous changes due to the impacts of increased interest rates/cost of debt and inflation, according to Partner Valuation Advisors. These factors led to declining transactional and lending volume in …