Tuesday, December 24, 2024
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Industry Voices

DevelopmentFeaturesIndustry VoicesOperations

It’s Time for The Senior Living Industry to Adapt to a Changing Generation 

by Jeff Shaw

By Joseph Cuticelli, chief operating officer and partner, Phoenix3 Holdings  Charles Darwin’s principle that survival hinges on adaptability rather than strength is more relevant than ever for senior living leaders. The industry sits at a critical juncture, with a rapidly expanding customer base and an often outdated image that no longer resonates with today’s active seniors. Technological advancements in smart homes, delivery services and accessible healthcare have empowered 74 percent of older adults to prefer staying in their current homes or downsizing, as revealed by the 2023 “Unlocking the Future” …

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Industry VoicesOperationsSkilled Nursing

What to Expect from the 2024 CMS Minimum Staffing Rule

by Jeff Shaw

By Diane Marie O’Malley, Partner, Hanson Bridgett LLP In an already difficult recruiting market, long-term care facilities now have the extra burden of complying with the new staffing rules implemented by the Centers for Medicare & Medicaid Services (CMS) and the Department of Health and Human Services. While some facilities already meet these requirements, certainly this will impact bottom lines of those providers who do not meet these standards and thus must start budgeting for this increased cost. On April 22, 2024, CMS issued the Minimum Staffing Standards for Long-Term Care (LTC) Facilities …

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Industry VoicesOperationsPeople

Reimagine Your Staff Retention Strategies

by Jeff Shaw

By Steven Leone, principal, Spiezle Architectural Group Inc.  Staff retention has become a critical issue in today’s evolving work environment. Post-pandemic changes necessitate new strategies to attract and retain employees more effectively. The National Investment Center for Seniors Housing & Care (NIC) published data in May 2022 that showed the annual turnover across primary markets the organization tracks was about 85 percent.  This article explores various methods that we currently use to attract and retain staff. What strategies have worked? What are the financial impacts? Does operational realignment and staff empowerment equal greater engagement?  Today’s workforce …

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DevelopmentIndustry Voices

Operators, Developers Must Consider Solo Agers

by Jeff Shaw

By Dr. Sara Zeff Geber As the baby boomers dip a cautious toe into the waters of senior living, they are looking for a very different experience than their parents.  Developers already know this and have made some changes in building designs and space allocation to meet these changing needs. Operators are making changes in furnishings, amenities, dining options and recreation menus. Those are all good and necessary updates, and will connect with boomers’ desires for independence, autonomy and control in addition to attractive surroundings.  Solo agers: A growing class …

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DevelopmentIndustry Voices

The Benefits of Borrowing from Other Sectors

by Jeff Shaw

How can senior living design benefit from ideas that stem from unlikely markets? By Shannon Remaley The next time you enter a senior living community, take a close look around. You may notice some design features that feel oddly familiar. For example, you might see a reception area akin to a concierge desk, luxury furnishings and materials adorning common areas, or ample amounts of natural light and diverse meeting areas of varying sizes.  Today’s best senior living communities borrow best practices from various markets, including high-end hotels and innovative office …

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Active AdultDevelopmentIndustry Voices

The SHB Interview: Michael Hartman, Capitol Seniors Housing

by Jeff Shaw

Real estate investor carves out a niche in the active adult sector. By Jeff Shaw Michael Hartman believes in active adult housing. The demographics are just too good. The demand is so much greater than the supply. It’s just a matter of giving the people what they want, he says. “I’m known in my company as the guy who will die on that hill.” In 2003, Hartman co-founded seniors housing investment firm Capitol Seniors Housing (CSH), which has built or acquired 116 private-pay seniors housing communities in the 20 years …

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DevelopmentFinanceIndustry VoicesInvestment

Question of the Month: Inflation

by Jeff Shaw

How is persistently high inflation impacting investment and development activity in the seniors housing space? An economic double whammy By Chris Blanda Senior Managing Director  VIUM Capital This a well phrased question because both inflation and, in turn, high interest rates have doubled down to restrict development activity.  It’s been a compounding effect that has moved several major levers to the economic viability of development projects in the wrong direction. Inflation has pushed development budgets and operating cost budgets up, while high interest rates have pushed construction leverage points down, …

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AcquisitionsIndustry Voices

Lender Q&A: Capital Providers See ‘Positive Trends’

by Jeff Shaw

Strong demographics and — hopefully — an end to interest rate increases make for a strong return for seniors housing lending. Roundtable participants Steve Kennedy Executive Managing Director  VIUM Capital Michael Gehl  Chief Investment Officer, FHA Lending NewPoint Real Estate Capital Don Kelly  Senior Managing Director Locust Point Capital Bill Lewittes  Senior Managing Director,Loan Origination, Real Estate Kayne Anderson Alex Loo  Director Hudson Realty Capital Perry Freitas Managing Director Hudson Realty Capital Michael Coiley Managing Director, Healthcare Finance First Citizens Bank Ken Assiran Managing Director, Seniors Housing CFG By Jeff …

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Active AdultDevelopmentIndustry Voices

The SHB Interview: Ben Burke, Managing Partner, Headwaters Group

by Jeff Shaw

Seniors housing veteran launches active adult development firm in the Southwest. By Jeff Shaw Ben Burke cut his teeth as an executive at two major seniors housing owner-operators, Spectrum Retirement Communities and Anthology Senior Living, the latter of which is the seniors housing arm of developer CA Ventures. But, as so often happens with individuals who possess an entrepreneurial spirit, he got the itch to run his own company. At the end of 2021, he left Anthology and launched active adult developer Headwaters Group in early 2022. “I felt like …

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DevelopmentFinanceIndustry Voices

C-PACE Works — Try It, You’ll Like It.

by Jeff Shaw

By Jason Schwartzberg In 1971, Alka-Seltzer, the two-white-tablet packet that helps relieve heartburn, launched a commercial set in a neighborhood bistro where a waiter persuaded a man to sample a new dish. The actor explains: “Came to this little place. Waiter says, ‘Try this, you’ll like it.’ What’s this? ‘Try it, you’ll like it.’ But what is it? ‘Try it, you’ll like it.’ So, I tried it. Thought I was going to die. Took two Alka-Seltzer.” The actor concludes the spot by declaring: “Alka-Seltzer works. Try it. You’ll like it.” …

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