Investor sees a bright future in seniors housing. By Jeff Shaw Harrison Street, a Chicago-based investment management firm, has made its name by specializing in alternative assets — focusing on seniors housing, student housing, medical office, life sciences, data centers and self-storage. Through privately managed funds, the investor built an impressive portfolio. Harrison Street owns more than 200 communities totaling approximately 28,000 units, of which 35 percent are independent living, 45 percent are assisted living and 20 percent are memory care. The American Seniors Housing Association (ASHA) ranked Harrison Street …
Industry Voices
By Mike Arbour, JHP Architecture / Urban Design In a study conducted by JLL in early 2020, prior to the start of the COVID-19 pandemic, the seniors housing sector posted its highest transaction volume in four years during the first quarter of 2020 and a record-setting occupancy rate of 88 percent. With the wide variety of independent living and assisted living options to choose from, the industry was on track for a profitable year. What a difference two quarters can make. According to data from the National Investment Center for Seniors Housing & Care (NIC) …
By Derek Jones, Deputy Technology never stops evolving. Many senior living operators are striving to implement the latest tech in current or upcoming projects. This is especially true following the COVID-19 pandemic. We can all remember the havoc caused by the lockdowns and the feeling of powerlessness in most industries. There is an urgency to leverage the latest technology to ensure the senior living industry is performing to its full potential. Here are four technology trends rapidly making their way into senior living projects. 1. Telehealth Telehealth is now, more …
Technology can replace some functions in senior living, but not human connection. By Serena Lipton, JLL Valuation & Advisory Services “The COVID-19 crisis has created a tremendous opportunity for the industry to evolve into a new set of realities. More than ever, innovative, resident- and cost-centric technology solutions are front and center.” — Mel Gamzon, principal, Senior Housing Global Advisors Without a doubt, advancement in technology has quickly become one of the most relevant trends in the seniors housing industry. Adapting to these trends is crucial for companies that want …
Regional operator keeps it in the family. By Jeff Shaw It’s rare to encounter a company whose name is fitting on several levels, but that’s exactly the case with Generations LLC, an Oregon-based owner and operator. For starters, the name reflects the elder generation that occupies its communities. Secondly, the company also believes in implementing multigenerational experiences for its residents, such as onsite daycare and amenity spaces open to the public. Thirdly, it is also a family-owned company, featuring multiple generations of founder Wendell White’s family. That family tree includes …
Does the government’s increased emphasis on home health pose a threat to the seniors housing industry? Plan benefits all care models By Paul A. Gordon Partner Hanson Bridgett LLP The Biden plan to provide funding for home- and community-based care is not a threat to the senior living industry, and may present an opportunity for growth. Most senior living providers are private pay and do not serve the Medicaid population to which the Biden plan funds are directed, so they are unlikely to lose customers to better-funded home care providers. …
By Pete Angus, United Group of Companies If you build it, they will come… You were thinking “Field of Dreams,” the classic baseball film where ghosts of the legends of baseball yesteryear come to play on Ray Kinsella’s field, right? Well in this case we’re actually referring to active adult communities of the early aughts, when the marketing approach was literally to build and wait for them to fill. For example, in 1999 my company opened the Beltrone Living Center, a 250-unit active adult community in Albany, N.Y. These were …
By Adrian Adriano, Xfinity Communities Over the past year, COVID-19 restrictions and social distancing requirements have accelerated the adoption of smart technologies by seniors looking to remain connected with their loved ones. In fact, according to data from a recent AARP survey, adults over 50 are adopting smartphones, wearables, home assistants and smart home technology at close to the same rate as adults who are 18 to 49 years old. Now that it’s over a year since the start of pandemic and the learning curve is behind them, will this group continue …
By Mark Lawrence, Oakmont Assisted Living Residents of assisted living facilities across the nation are getting vaccinated in large numbers. Nearly 4.9 million residents and staff in long-term care have received at least one shot. With the vaccination rate increasing every day, residents are looking forward to participating in live events and going on field trips again. However, we can’t just restart old activities as if everything is back to normal. It is important that assisted living facilities prepare for events with safety in mind. Here are a few things …
How to Harness Technology to Streamline Your Incident Reporting for Better Care and Compliance
By Fahad Aziz, Chief Technology Officer, Caremerge “Incidents” in assisted living and memory care communities aren’t always one-off falls. They can be key indicators of a developing health pattern or wider community risk. Late-night wandering could be an early sign of dementia; an upset stomach could be a symptom of food poisoning; a stumble in the bathroom could mean rooms need better accessibility design. That’s why reporting incidents promptly and thoroughly is essential for more effective and personalized care for older adults — not to mention it’s required by law. …