Industry Voices

Assisted LivingDevelopmentFeaturesFinanceIndustry Voices

SBA 504 Loans Can Lend Support to Assisted Living Projects

by Jeff Shaw

By Barbara Morrison, founder and president, TMC Financing According to the Centers for Disease Control and Prevention (CDC), there are around 28,900 residential care and assisted living facilities in the U.S.. The majority of the facilities are well established and contribute greatly to the country’s social and economic fabric. However, despite the importance of these facilities in our society, they often struggle to find affordable financing to expand or improve their services. Fortunately, the Small Business Administration (SBA) 504 loan program provides an affordable way to obtain funding for building …

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DevelopmentFeaturesIndependent LivingIndustry Voices

The Economic Impact of Affordable Independent Living Speaks for Itself

by Jeff Shaw

By Matt Canterbury, President of Development, Homestead Cos. Seniors housing is seldom part of the broader economic development conversation. And when it is, affordable independent living communities are seldom recognized for their value to a city or town. Sometimes, they’re even resisted. This is a mistake that hurts older Americans and the communities in which they live. By 2030, our industry expects 10 million baby boomers — second only to seniors staying in their own homes — to be housed in independent living arrangements. While the majority of Americans 55 …

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Industry VoicesTechnology

A ‘Digital Ceiling’ Can Mirror Smart Home Experience

by Jeff Shaw

As IoT technology becomes a bigger part of seniors’ lifestyles, property owners look for strategies to match expectations. By Dwight Stewart and Cliff White There’s no question technology will change most everything the industry knows about building and operating senior living spaces. The question is: How fast will it happen?  Technology evolution is exponential, and the rapid advancement of lifestyle Internet of Things (IoT) is a great example of how quickly people are willing to incorporate new devices and systems into their lives.  Sixty-five percent of Americans now own at …

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Industry Voices

Missing the Mark on Feasibility Studies

by Jeff Shaw

Factors such as age, acceptance and health should not be overlooked. By Irving Stackpole Successful congregate seniors housing development is built at the intersections of age, acceptance and health of the consumers. A thoughtful understanding of these three factors is at the heart of market analysis and feasibility studies.  While a good feasibility study does not ensure good occupancy, a poor one may lead to years of very expensive, negative consequences. Occupancy in seniors housing is driven by the demographics of age. The size of the age cohorts is critical, …

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Industry Voices

Company Profile: Blazing a New Trail

by Jeff Shaw

Watermark rises from an auspicious history to become a Top 10 operator. By Jeff Shaw When David Freshwater founded The Fountains in 1985, the widespread reinvention of assisted living was still several years away. His developments in these early days helped to set the template of what we now know as private-pay seniors housing, starting with The Fountains at La Cholla in Tucson, Arizona, in 1987. David Barnes joined Freshwater at The Fountains in 1989, developing the systems, policies and training systems that would allow the company to grow. And …

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Industry Voices

Question of the Month: Is Home Health a Threat?

by Jeff Shaw

Is home health a threat to seniors housing, an opportunity for growth or something else entirely? Home health helps By Pilar Carvajal Founder & CEO Innovation Senior Living My entire career has been dedicated to serving low- and middle-income seniors in a home-like, communal setting to help avoid premature institutionalization.  The expansion of home health will allow more people to benefit from a non-institutional setting. But home health has its limitations as a person needs more care and supervision.  We plan to expand in home health to offer more options …

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Industry VoicesTechnology

Saving Water Can Increase Interest from Capital Sources

by Jeff Shaw

By David Duckwitz, Sensor Industries A recent Seniors Business Housing article, Why So Many Investors Are Chasing Active Adult, pointed to the favorable investment trend in active adult housing. The demographics driving that trend are the 70 million baby boomers ranging in age from their late 50s to mid 70s. While the client base is there as well as the investment interest, there are some barriers to overcome. Despite the demand, there are a limited number of lenders in that space. The COVID-19 pandemic clearly played a role in reducing …

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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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