Thursday, May 15, 2025
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Industry Voices

DevelopmentIndustry Voices

Mall Redevelopments May Be One Key to the Future

by Jeff Shaw

Projects offer amenities, valuable locations and vibrant lifestyles. By Leslie Moldow One key lesson we learned from the pandemic is that just about anything we can dream is now possible if we set our minds to it, and re-examining housing, service options, and opportunities for seniors is no exception. A few years ago, Perkins Eastman undertook “The Clean Slate Project,” where we projected into the future and wiped the slate clean of traditional forms of senior living. By identifying disruptors, new competitors, and market changes, we spotlighted opportunities for new …

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Industry VoicesLegal Issues

Understand the Impact of Intangibles

by Jeff Shaw

How to use these factors to reduce a senior living property’s tax assessment. By Morris Ellison The longstanding debate over intangible value in commercial real estate taxation rages unabated, and nowhere is the squabbling fiercer than in valuing senior living facilities.  Because these properties generally transact based on income from a going concern rather than from real estate, taxpayers planning to acquire a seniors housing facility should consider how to separate intangible value prior to acquisition. Simply waiting for the annual tax bill is a recipe for incurring inflated cost …

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AcquisitionsIndustry Voices

Broker Q&A: Brokers Remain Optimistic

by Jeff Shaw

Dealmakers in seniors housing feel the effects of the industry’s pandemic-related challenges, but they see brighter days on the horizon. Roundtable participants Brooks Minford, Director, Berkadia Charles Bissell, Managing Director, JLL Capital Markets Cindy Hazzard, Broker, JCH Senior Housing Brokerage Richard Swartz, Vice Chairman, Cushman & Wakefield Jason Stroiman, Founder and President, Evans Senior Investments Brooks Blackmon, Senior Director, Blueprint Healthcare Real Estate Advisors Vince Viverito, Senior Vice President, Senior Living Investment Brokerage By Jeff Shaw The brokers in seniors housing may have the deepest knowledge of the industry. In order to link sellers with buyers, they have to understand every aspect of the …

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Active AdultDevelopmentIndustry Voices

Developers Say Active Adult Has a Bright Future, but Success Will Require Better Clarity, Marketing

by Jeff Shaw

Panelists Bob May, Managing Partner, Avenida Partners Michael Hartman, Principal, Active Adult, Capitol Seniors Housing  Michael Uccellini, President & CEO, United Group of Companies Chris Guay, Founder & CEO, Vitality Living Ryan Maconachy, Vice Chairman, Health & Alternatives Assets, Newmark (Moderator) By Jeff Shaw Active adult communities are a hot development class within the seniors housing continuum right now. One complication, though, is that the concept is much more nebulous than independent living, assisted living, memory care and skilled nursing. The National Investment Center for Seniors Housing & Care (NIC) does not yet track active adult metrics. A CBRE survey …

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Industry VoicesOperationsPeople

Question of the Month: What’s Your Staffing Situation?

by Jeff Shaw

Is your labor and staffing situation better, worse or the same as it was earlier in 2021, and why? Focus on engagement By Monica Friedman Chief HR Officer LCS We are continuing to experience staffing challenges to a greater degree than we did earlier this year. Although it varies by location, the challenge of attracting new talent to our industry remains.  We have faced increased wage pressure from staffing agencies that offer higher wages to experienced workers only to charge those higher wages back to clients. And, while most healthcare …

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DevelopmentFeaturesIndustry Voices

How to Overcome Construction Cost Increases in Senior Living Projects

by Jeff Shaw

General contractors in the senior living space have faced tough challenges in the wake of COVID. Construction material costs have fluctuated wildly, while hiring good employees has proven difficult, slowing down timelines. Seniors Housing Business spoke with Richard Lara, president of RAAM Construction Inc., about the challenges builders face in the senior living sector. SHB: Tell us a bit about your business and how much work you’ve done in the seniors housing space. Lara: RAAM Construction is a general building contracting firm specializing in multi-unit construction projects throughout California. In …

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Industry VoicesLegal IssuesSkilled Nursing

Certificate of Need Laws and Nursing Facilities: The Good, the Bad and the Ugly

by Jeff Shaw

State-by-state comparisons do little to solve the correct future for this complicated issue. By James Tellatin, Integra Realty Resources It is not surprising that states with certificate of need (CON) laws for skilled nursing facilities (SNFs) have higher occupancy than states without CON requirements, or moratoriums on new beds. Occupancy States Without Certificate of Need (8)                                                       74.7% States With Certificate of Need                                                                 80.7% States With Skilled Nursing Facility Moratorium and No CON (9)                82.4% Source: 2019 Certification and Survey Provider Enhanced Reports (CASPER) The central question surrounding certificate of need …

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CCRCDevelopmentIndustry Voices

CCRC Model is Changing for the Better

by Jeff Shaw

Opportunities are available in renovating old stock and building niche communities. By Richard Ackerman Upheaval in the continuing care retirement community (CCRC) market is changing the assumptions and opportunities that fueled the senior living trend for over 40 years. Today’s investors can find new opportunities at two ends of the spectrum — redevelopment of aging CCRCs and new development of smaller-scale CCRCs in upscale niche markets. With conventional private equity financing hard to come by, creative approaches, including structuring CCRCs as nonprofits, offer a proven path to bring communities to …

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Industry VoicesOperations

Question of the Month: Operator Replacements

by Jeff Shaw

Are owners replacing third-party operators at a faster rate than in the past and, if so, what’s driving the trend?   Consider multiple factors By Wendy Nowokunski Co-Founder, President Northbridge Companies There has been an uptick in replacing third-party management companies. The questions that need to be asked are: Why and at what cost? Oftentimes, investors and owners attribute non-performance of an asset or assets solely to the operator without asking critical questions. Is it a market issue, the product itself, the labor market, or does the on-site management need …

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FinanceIndustry Voices

A Year to Remember for Founders of VIUM Capital

by Jeff Shaw

Fledgling firm manages to close over $750 million in deal volume during first year. By Matt Valley In April, VIUM Capital celebrated its one-year anniversary, no small feat considering the firm was launched during the COVID-19 pandemic. Led by industry veterans Kass Matt and Steve Kennedy, formerly of Lancaster Pollard, VIUM Capital provides financing to the seniors housing and healthcare sector.  More specifically, VIUM Capital offers FHA/HUD and proprietary bank bridge financing and has partnered with a large Midwestern-based lender to provide loans backed by Fannie Mae and Freddie Mac. …

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