Developer launches a public relations campaign to heal the wounds to the seniors housing industry caused by COVID-19. By Jeff Shaw From the point of view of many inside the seniors housing industry, the sector has taken a beating from the press during the COVID-19 pandemic. Stories of coronavirus outbreaks at skilled nursing facilities dominated the headlines in March and April, and private-pay seniors housing was often conflated with nursing homes. Scott Stewart wanted to fight the negative perception of seniors housing, believing it to be the safest place a …
Industry Voices
What advice do you give to borrowers who are seeking to either acquire, refinance or develop seniors housing? Reset your expectations By Alex Florea Senior Director Blueprint Healthcare Real Estate Advisors My advice would be to take a step back, reset expectations and approach the market with an open mind. Attractive financing is available, and you can absolutely get your deal done. But things have changed, and you may need to give recourse or other credit support. You may need to go outside your traditional bank group or work with …
As tours go virtual and prospects are online more than ever, now is a critical time to give your web presence a tune-up. By Matt Perrin, Carely The senior living industry is more competitive today than it has ever been. You simply can’t be a contender without a strong online presence. That may seem obvious for your website and social media, but your profile pages in the multitude of online directories need attention, too — especially in a moment where Americans are spending more time online during quarantine. In addition …
Three emerging trends could benefit residents and businesses alike. By John Williams, Avanath Capital Management An undeniable concern for seniors housing stakeholders is keeping residents at their properties healthy and well. While the seniors housing industry was addressing health and wellness issues long before COVID-19 struck, the pandemic has intensified our focus on this topic. As we move through this crisis, many industry professionals have deepened their commitment to health and wellness in a variety of ways. To that end, we will see myriad new amenities at seniors housing communities that are …
Music programming can relieve isolation while still enforcing safety measures. By Amy Jeffs, Status Solutions Before the pandemic, senior living residents were already dealing with the burdens of social isolation and loneliness. One study even found that over half of residents without cognitive impairment reported feeling lonely. And now that residents are more isolated than ever, it’s only gotten worse. The effects are more than emotional, but can cause many negative consequences such as increased risk of “cognitive decline and progression of Alzheimer’s disease, recurrent stroke, obesity, elevated blood pressure, …
From processes to spaces, senior living design and construction are in for a change. By Drew Roskos Now in month six of our country’s full-scale reaction to the COVID-19 pandemic, we are all embracing today’s heightened awareness of public health across the board, especially in our field of senior living. As of this writing, roughly one-third of COVID-19 cases reported have been in senior living communities. As research continues to teach us more about the spread of the virus who is at the greatest risk, we are also likely …
Programming can make all the difference in keeping happy, healthy residents. By Flynann Janisse One crisis at a time is no longer an option for the multifamily industry. As seen in many other sectors, the global pandemic highlighted already broken or deficient systems, exacerbating challenges accessing quality affordable housing. The United States was already in the midst of a national housing crisis before COVID-19, especially for seniors as baby boomers adjust their housing demands to fit their lifestyles. Now the need for quality affordable housing is dire and must be …
Seniors housing pricing takes a hit amid pandemic. By James Tellatin The COVID-19 pandemic has clearly impacted seniors housing valuations. The market for seniors housing assets is only beginning to thaw from the pandemic’s spring and summer freeze. In the absence of actual sales data priced in the pandemic, using enterprise valuations from publicly traded REITs and operating companies with large concentrations of seniors housing is a proxy to individual asset values. Operationally, most properties are experiencing lower occupancies and higher per-resident-day operating expenses and these conditions are likely to …
After five years at the helm of the longstanding REIT, this seniors housing executive has helped the company carve out a niche in secondary and tertiary markets. By Jeff Shaw Despite all the challenges facing seniors housing, Eric Mendelsohn is a big believer in the product. He cut his teeth at Seattle-based Emeritus, serving as senior vice president of corporate development from 2006 to 2015. It was a period of tremendous growth for the company, culminating in giant operator Brookdale Senior Living buying Emeritus in 2014. Emeritus’ portfolio totaled 1,100 …
Investment sales professionals express optimism for the future of seniors housing despite the pain caused by the COVID-19 pandemic. Roundtable participants Brooks Minford, Associate Director, Berkadia Daniel Geraghty, Senior Vice President, Senior Living Investment Brokerage Jordyn Berger, Senior Director, Walker & Dunlop Bruce Gibson, Principal, Senior Capital Advisors Cindy Hazzard, Broker, JCH Senior Housing Brokerage Ted Flagg, Senior Managing Director, JLL Capital Markets Aron Will, Vice Chairman, CBRE Capital Markets Kris Lowes, Director, Evans Senior Investments Richard Swartz, Vice Chairman, Cushman & Wakefield Jeffrey Hyman, Senior Vice President, Colliers National Seniors Housing Group Steve Thomes and Ryan Chase, Senior Managing Directors, Blueprint Healthcare Real Estate Advisors Todd Lindblom, National Director, Marcus & Millichap Adam …