From The Magazine

FeaturesFinanceFrom The Magazine

Lenders Reflect on COVID’s Impact, Address Interest Rates During InterFace Seniors Housing West

by Jeff Shaw

By Matt Valley Six lending professionals recently gathered on stage at the Omni Los Angeles to participate in a panel discussion that was both a two-year retrospective on COVID-19 and a deep dive into some of today’s hot-button issues affecting borrowers.  “It’s been an interesting two years on the debt side, as it has been in other capacities. To me, one of the more interesting parts has been the contraction and subsequent expansion of capital flows in seniors housing debt and how that impacted large banks and small banks,” said …

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DevelopmentFrom The MagazineMemory Care

Memory Care: Back to the Future

by Jeff Shaw

Operators experiment with new programming and design ideas while redoubling their commitment to traditional person-centered care. By Jane Adler Despite suffering big pandemic-related occupancy losses, the memory care segment is focused on the future as it rebuilds its census. Operators are adopting new technologies and open building designs to advance established person-centered care protocols.  The Montessori teaching method, popular for children, is being applied to programs for seniors with memory loss. Virtual reality, circadian lighting and multi-sensory rooms are being used to ease anxiety and boost engagement among residents. Locked …

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From The MagazineTechnology

Dispelling the Technophobia Myth

by Jeff Shaw

Today’s seniors and their families demand video streaming and ubiquitous Wi-Fi, and operators need the infrastructure to handle it. By Eric Taub As a new generation of Americans age and begin to move into assisted living, the old tale that the elderly neither understand nor care about technology is falling by the wayside. Today’s assisted living residents are increasingly adept at technology, and they’re bringing their devices with them when they move into their new digs. Tablets, cell phones, laptops and smart TVs, once relegated to younger generations, are being …

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From The MagazineOperations

Operators Reboot Their Message

by Jeff Shaw

Safety, luxury and socialization all take on new meanings as marketing and sales teams change their approaches from pre-pandemic times. By Jeff Shaw March 2020 represented an abrupt and dramatic shift in how seniors housing units were sold to prospective residents. As the first wave of the COVID-19 pandemic led to lockdowns across the country, suddenly operators had to shift from selling luxury and lifestyle to safety from a virus that was more likely to kill seniors than any other demographic.  That is, if a community’s local governments allowed move-ins …

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Company NewsDevelopmentFrom The Magazine

Company Profile: Elevate Senior Living

by Jeff Shaw

Building ‘a Better Mousetrap’ By Jeff Shaw Elevate Senior Living is a company with one goal in mind: make seniors housing affordable for middle-class people.  The introductory press release for the company — which also revealed the groundbreaking of its first project in Clearwater, Florida — said the target market is “the retired police officer, fireman, schoolteacher and everyday American.” Elevate plans to build 11 middle-market seniors housing communities over the next five years. Of course, the industry has grappled with this issue for years. In 2017, the National Investment …

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FinanceFrom The Magazine

Fannie, Freddie Shake Off Effects of Pandemic

by Jeff Shaw

After a major drop in seniors housing loan production in 2020 resulting from COVID-19, the agencies nearly hold the line in 2021. By Jeff Shaw After a significant decline in deal volume in 2020, both Freddie Mac and Fannie Mae saw only modest slips in their seniors housing production in 2021, a sign that the industry has stabilized. Freddie Mac’s annual lending volume in the seniors housing sector fell 45 percent year over year in 2020, dropping from $3.8 billion in 2019 to $2.1 billion in 2020, but fell just …

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AcquisitionsFeaturesFrom The MagazineInvestment

Buyer/Seller Landscape Shifts

by Jeff Shaw

Some investor types have doubled down while others have fled seniors housing as the COVID-19 pandemic enters its third year. By Jeff Shaw COVID-19 has changed many investors’ approaches to the seniors housing sector.  The pandemic caused a major shift in who’s buying and who’s selling. Some of the biggest buyers in 2019 were the biggest sellers in 2021. For example, institutional investors went from buying more than $2 billion in 2019 to selling more than $3 billion through the first three quarters of 2021. That’s according to Real Capital …

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FeaturesFrom The MagazineInvestmentLegal Issues

Owners, Operators Get in Sync

by Jeff Shaw

A variety of partnerships and lease structures present many options for landlords and tenants to both benefit. By Jeff Shaw In the retail real estate world, triple-net leases are king. Under this standard agreement, the tenant is responsible for all expenses — taxes, insurance, maintenance, utilities and rent to the owner.  But seniors housing is a very different type of real estate. In retail, if a tenant fails, the owner simply finds a new one. For senior living, there’s a human element at play both for the employees and the …

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FeaturesFinanceFrom The Magazine

Lenders’ Patience Wears Thin as Pandemic Drags On

by Jeff Shaw

By Matt Valley Time is running short for operators of underperforming properties trying to shake off the negative impact of COVID-19 on occupancy and revenue, said Chuck Hastings, vice president of finance and business development for Juniper Communities. “In 2022, lenders are going to want to see us all getting back to pre-pandemic levels [of performance]. So, as operators the pressure is on.” Bloomfield, New Jersey-based Juniper operates 28 senior living communities in four states: New Jersey, Pennsylvania, Texas and Colorado. Hastings, who knows firsthand that lenders are growing increasingly …

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DevelopmentFrom The Magazine

A New Blueprint

by Jeff Shaw

Architects adjust their designs for incoming baby boomers, better infection control. By Jeff Shaw Most often, when it comes to planning for the future of the seniors housing industry, it’s considered from the angle of operations — the adjustments that must be made in programming, amenities and sales strategies for the next generation of residents. But programming and amenities don’t occur in a vacuum. The location, design and overall physical plant of a seniors housing community all affect what activities can take place that would appeal to a modern senior.  …

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