From The Magazine

Value-Based-Care

Value-based care provides an opportunity to improve patient outcomes, lower costs and potentially share in the savings, say industry experts. Primarily created as a hospitality model, seniors housing is inching its way into the complex world of healthcare management and insurance payments. Operators are adopting a variety of approaches to address the health needs of residents through value-based care arrangements.  What is value-based care? Unlike the traditional Medicare fee-for-service payment model, value-based care pays healthcare providers to keep people healthy and to prevent health emergencies that require expensive hospital visits. …

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Brightview-Hunt-Valley

From ground-up development to renovations, this new wave of projects aims to connect seniors more fully with their surroundings. As the seniors housing industry matures and evolves to meet the needs of a changing customer, so too does the design of the communities. Outdoor spaces have become more vital than ever before as new research emerges about the power of natural sunlight. Architects are integrating technology into design with the goal of creating environments that not only enhance the resident experience but also support operational efficiencies.  Meanwhile, staff break rooms …

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LifeLoop

By Eric Taub There’s no other topic that has generated as much attention in the general and business press in the past year as artificial intelligence (AI). Based on the breathless coverage, one could imagine that the technology has just been invented. In actuality, it’s been around for years.  AI fuels such voice recognition products as Amazon’s Alexa and Apple’s Siri, as well as chatbots, customer service scripting and Netflix’s viewing suggestions, among others.  However, with the release of ChatGPT, awareness of AI technology has come to the masses. Today, …

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Morningstar at Ridgegate

By Bendix Anderson For more than two years, a persistent bid-ask spread between buyers and sellers of seniors housing has prevented many deals from getting done. Appraisers don’t expect a dramatic uptick in deal volume in the near term. “I’d love to see a big break in the dam, but at this point I expect more of a steady increase in the flow [of deals],” says Zach Bowyer, executive managing director and head of living sectors for Cushman & Wakefield, who is based in the firm’s Boston office. He is …

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The Pryde, Boston

By Jeff Shaw Every affordable housing project relies on an intricate combination of funding, partnerships and know-how to reach the finish line. Fortunately, developers have a lot of different levers they can pull to make a project work financially. Each development typically involves a mash-up of federal tax credits, support from various municipalities (state, county and/or city) and private funding. It requires immense creativity on the part of developers.  But many developers are still finding success, as evidenced by the bevy of new projects coming to market across the country. …

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Discovery Village at the West End in Richmond, Va.

By Matt Valley As a bridge lender across the full spectrum of seniors housing, Live Oak Bank has been able to capitalize on the limited liquidity in today’s market that has resulted in stalled transactions and refinancing challenges in this niche property sector.  “Trust me, I have a certain advantage right now with the lack of lenders [active in the space], and I enjoy that because it enables me to be very strategic on relationships and the people that I choose to partner with and grow. But having liquidity back …

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Some foreign countries have taken groundbreaking approaches to seniors housing, from innovative memory care concepts to large-scale luxury communities capitalizing on economies of scale. By Jeff Shaw Although private-pay seniors housing may be considered a niche asset class in the United States, it features a scale, maturity and sophistication that far outpaces the industry in other countries. But that scale means that parts of the industry are standardized. Innovations are happening in other parts of the world that still have fresh eyes for this type of housing — innovations that …

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As the regulatory environment in the seniors housing and skilled nursing sectors becomes increasingly burdensome, leading advocates are pushing back on multiple fronts. By Jeff Shaw Seniors housing has always been a hot-button issue and a target for government regulation, given its role in caring for a vulnerable population of seniors with healthcare needs. Even by that standard, though, there are a lot of legislative challenges coming down the pike for owners and operators. • Sen. Bob Casey (D-Pa.), chair of the U.S. Senate Special Committee on Aging, held a …

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Lifespark seeks to create a comprehensive healthcare system for seniors that takes wellness into account. By Jeff Shaw The executives at Lifespark want to make something extremely clear: It is not a seniors housing company. Seniors housing is simply one element in its larger plans to revolutionize healthcare for seniors. Based in the Minneapolis suburb of St. Louis Park, Lifespark has over 3,000 employees and serves over 30,000 seniors throughout Minnesota and Wisconsin. But that 30,000 number comes despite having only 3,256 seniors housing units. The rest are served through …

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Freddie Mac is in the midst of a transaction rally, while Fannie Mae endures a wave of delinquencies fueled by troubled seniors housing loans. By Jeff Shaw Freddie Mac and Fannie Mae — collectively known as the government-sponsored enterprises (GSEs) — have been on divergent paths in recent years when it comes to lending in the seniors housing sector. The two agencies posted similar deal volumes in 2019 before the onset of the COVID-19 pandemic, with both closing over $3 billion in loans that year. While loan closings fell during …

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