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 …
Industry Voices
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 …
What kinds of marketing and outreach are you doing to attract new residents and increase move-ins? Find creative solutions By Joseph Jasmon CEO American Healthcare Management Group We adjusted our business relationship visits and offered a helping hand to those businesses reopening with COVID-related assistance. We continue to provide virtual tours and have started a video program to introduce ourselves to the community. We recently began to offer in-home assistance, advice and a person to call for prospects who are nervous about moving. Enhancing our online presence and working our …
Lessons learned from the Global Financial Crisis can offer a blueprint for this new recovery. By Bryon Cohron, ProMatura, and Cheri Clarke Doyle, Trammell Crow Co. The social and economic impact of COVID-19 has shocked all economic sectors in a variety of ways. For seniors housing, the impact is felt on many different levels. From the news headlines about the spread of the disease in nursing homes to financial strains felt by declining occupancy and higher operations costs, seniors housing is facing its most challenging time since the industry began. …
By Shane Reeves, CEO, TwelveStone Health Partners As of mid-July, data showed that 45 percent of all deaths from COVID-19 in the U.S. had occurred in long-term care (LTC) and assisted living facilities. This means that many of our most fragile citizens have lost their lives in these settings, although the number is likely higher because not all states have been reporting numbers for LTC and assisted living facilities. Which factors led to the most significant issues in nursing homes? A panel of researchers summarized the issues into four key …
It’s time to embrace the positive changes we’ve made in operations during this crisis. By Liz Jensen, Clinical Director, Direct Supply “If we had the right regulations in place before all of this happened, why did long-term care need waivers to take better care of people?” This question, in various forms, has been asked frequently in the past few months. For those who work within or receive services from the aging services sector in the United States, the hurdles involved in delivering care to older adults is not news. However, if there is one thing the COVID-19 pandemic has uncovered, it …
Landscape architecture is now a key part of space-planning, not just pandemic reaction. By Linda Gates, Co-Founder and Casey Case, President, Gates+Associates Long-term care residents and staff accounted for outsized shares of COVID-19 infections and deaths, according to USA Today. Facility design can’t solve a virus problem, but the dire numbers have drawn the attention of designers to explore options to minimize negative impacts and support operations. One area gaining renewed attention is the use of outdoor spaces, both because COVID is less easily transmitted outside and the long-known health …
Legal protections are complicated in the world of COVID-19. By Matt Keenan and Jenn Hatcher, Shook, Hardy & Bacon The owners and operators of long-term care facilities know better than almost everyone does how the destructive evil known as COVID-19 has changed lives in every shape, manner and form. It has also dramatically altered the most basic standards that have governed the long-term care (LTC) industry for years. And yet, today there remains enormous uncertainty about where the science and medicine will take us. With so much ambiguity at play, …