Industry Voices

Industry Voices

The SHB Interview: Justin Dickinson, Executive VP, Pathway to Living

by Jeff Shaw

As he steps into the role held by industry pioneer Jerry Finis, the former REIT executive pushes back against industry headwinds with a new approach to company structure and data. By Jeff Shaw When Jerry Finis, founder and CEO of Chicago-based owner-operator Pathway to Living, began to consider retirement last year, he knew there would need to be a succession plan. Finis founded the company in the 1990s as the assisted living sector began to evolve into a well-defined asset class. Finis was the only chief executive the company ever …

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FinanceIndustry Voices

Question of the Month: Inflation’s Impact

by Jeff Shaw

What impact is inflation having on seniors housing and how are operators and owners adjusting? Give residents more options By Chuck Hastings Chief Financial Officer Juniper Communities With wages, food, utilities and other costs still rising, we at Juniper have been adding new price options for residents, and new ways of paying for them, to ease the pain for our customers. We’re also thinking about focusing price increases on level of care. With all that said, it seems the odds of a recession this year are rising, so we need …

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Industry Voices

Five Successful Strategies for Boosting Seniors Housing Occupancy

by Jeff Shaw

By Gregory F. Hagood, Senior Managing Director, and Mary Missbach Dressler, Managing Director, SOLIC Capital Partners The senior living sector was among the hardest hit industries of the COVID-19 pandemic. COVID resulted in the double whammy of a rapid drop in occupancy followed by labor shortages that have caused rapidly escalating labor costs. As a result, senior living facilities in even the strongest markets have faced financial challenges, with Moody’s estimating that were 675 municipal bond delinquencies related to senior living facilities over the past two years representing approximate 25 …

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DevelopmentIndustry Voices

The New Wave in Senior Living: Designing for the Younger, Active Resident

by Jeff Shaw

By Connie Wittich, founding principal, Metropolitan Studio Traditionally in the senior living space, we’ve seen the repetition of the same design style. Older, mature, gray and beige hues that complement what we think the older generation may enjoy — a space that matches the maturity of the intended target generation, including the baby boomers.   While understanding your audience is important and there is a time and a place to use this design style, it’s crucial to dig deeper psychologically and understand the 55-plus mind.  Everyone wants to be younger. …

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DevelopmentIndustry Voices

Infill Seniors Housing Can Give Seniors What They Want, Need

by Jeff Shaw

By Ben Seager, Principal, KTGY American poet and author Maya Angelou said, “Mostly, what I have learned so far about aging, despite the creakiness of one’s bones and cragginess of one’s once-silken skin, is this: Do it. By all means, do it.” Although this is a great axiom for any generation, the baby boomers have revolutionized the seniors housing industry in their quest to not take aging lying down. They want to stay active — in mind, body and spirit — enjoy life, and share time with family and friends. …

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Industry VoicesMemory CareOperationsTechnology

Use Technology, Design to Achieve Senior Living Goals

by Jeff Shaw

By Christian Buesing, director of operations – technology solutions, Direct Supply Technology needs to serve a purpose. In my personal life I am slow to implement new technology into my routine until I know for sure it will serve me well. I am not the guy who has the latest tech toys just for the fun of it. In our industry, superior senior care is demanded. With the current staffing shortage, the technology incorporated into any community needs to improve staff efficiency and resident well-being. There are high expectations for …

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FinanceIndustry Voices

A Mid-Year Look at Seniors Housing Finance

by Jeff Shaw

By Russell Phillips, Regions Bank As a real estate asset class serving the nation’s elderly population, the seniors housing sector was faced with serious challenges during the height of the COVID-19 pandemic. Residents and staff of senior living facilities faced increased risk of illness, various restrictions and an unfortunate loss of life was widely reported in the media. At the same time, many families chose to keep older parents or relatives living with them rather than residing in senior facilities. Combined, these factors led to an overall reduced demand for …

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DevelopmentIndustry Voices

How Biophilic Design Impacts Living Well

by Jeff Shaw

Giving residents a front-row seat to nature has a positive effect on their lives.  By Amy Cheever Throughout history and across cultures, architects have drawn inspiration from nature to emulate a sense of well-being, serenity and connection within their finished space — evoking similar feelings and sensory perceptions as the awe of the natural world. This process is known as the immersive integration of biophilic design, a concept utilized by architects to respond to the innate need of humans to connect to nature through direct and indirect exposure.  Biophilia was …

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Industry VoicesInvestment

The SHB Interview: Arnie Whitman, Executive Chairman, Formation Capital

by Jeff Shaw

Longtime investor seeks technologies that will transform the way seniors and healthcare intersect. By Jeff Shaw Though his career has largely focused on the capital markets end of seniors housing, Arnie Whitman is much more than just a money man. “It’s more about making a difference than making a buck,” he says. Whitman entered the seniors housing industry in 1984 when he was hired to lead an acquisitions team for real estate investor and nursing home magnate Abraham Gosman. The company, Meditrust, was trying to go public. Although Whitman had …

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Industry VoicesInvestment

Question of the Month: Time to Invest?

by Jeff Shaw

How do you know whether to keep your powder dry or jump back into the investment/development markets? Buying, but not building Rick Shamberg Managing Director Scarp Ridge Capital Partners Our firm has taken a bullish approach to the acquisition market in senior living and a more conservative approach to development opportunities. Given the dislocation and interruption stemming from the pandemic, including pressure on sponsors (which in some cases has translated to more reasonable valuations), pent-up demand from consumers, high construction costs for new development, and a general lack of new …

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