Even in the face of low occupancy, overbuilding, labor issues and a global pandemic, lenders have faith in seniors housing as an asset class. By Jeff Shaw There’s no doubt that seniors housing faces challenges that other sectors do not. An operations-intensive business, seniors housing managers must recruit and retain good staff while fighting off a glut of new competition. Meanwhile the global COVID-19 pandemic has a much higher mortality rate among seniors versus younger sufferers, adding a new layer of difficulty and fear. A recent survey by SeniorList shows …
Industry Voices
How you can help staff streamline external communication efforts during COVID-19. By Michael Eidsaune, CEO, Carely It’s been more than five weeks since family members have been able to visit their loved ones in senior living facilities due to coronavirus, creating a sense of helplessness and worry among spouses, children and other loved ones. Quality relationships are just as important as quality care, but fielding phone calls from each member of the family not only takes precious time, but also takes time away from the residents themselves. It’s a hard …
This pandemic could change the design and programming of seniors housing forever. By Russ Garber, M+A Architects Our senior citizens are wise and brave and giving, but they are also among our most vulnerable loved ones. For the many in senior living facilities, the COVID-19 pandemic is a time filled with trepidation. For the operators of those facilities and their dedicated staff members, this is a time of long days and addressing many concerns, large and small. As of March 23, at least 150 skilled nursing facilities in more than …
Health, socialization and transportation are top on seniors’ ‘want’ lists for a new home. By John R. Williams, Avanath Capital Management There is a renaissance underway in the seniors housing industry. Today’s seniors are more active and engaged than ever before and are requesting amenities and services that aid in keeping them energetic, healthy and involved. These amenities extend far beyond standard fitness centers or aerobics classes and incorporate programming and services that encourage healthier, dynamic lifestyles that allow residents to age in place. This is important for investors and …
Tomorrow’s seniors will want flexibility, privacy and intergenerational living. By Marissa Kasdan, KTGY Architecture + Planning Seniors housing, as a market segment, has had a relatively limited history in the United States. Early examples of seniors housing were for those that experienced extreme poverty due to the loss of personal wealth during the Great Depression. Following the implementation of the Social Security Act, the private nursing home industry experienced tremendous growth during the second half of the 20th century. With the addition of Medicare and Medicaid in 1965, national nursing home …
Investors should seek out managers with low turnover, local knowledge and solid standardized practices. By Jess Stonefield Market demographics are just one set of factors that impact a seniors housing investment. Another factor, and arguably a more important one, is the operator managing the senior housing community in which you invest. Operators are charged with managing the day-to-day business within the care community and play a significant role in determining the success of any given investment. As such, they need to be chosen carefully — more carefully than many investors …
Independence, technology and affordability hold the keys to winning them over. By Dean Maddalena, President, StudioSIX5 What do boomers want? It’s the question on everyone’s mind as we near the entry of the first baby boomers into senior living. Approximately 10,000 baby boomers turn 65 each day, and with them comes a shift in the industry to meet expectations. There has been a massive shake-up in senior living looking toward what’s next. But in an industry obsessed with innovation, where are we still missing the mark? Aging in place Boomers’ …
After decades working for REITs, experienced executive makes the jump to operations. By Jeff Shaw For having held only three jobs in the seniors housing industry, Mercedes Kerr has quite the resume. Moving from a career in the hospitality industry in Mexico, Kerr was recruited into seniors housing in 1997 by Irvine, California-based Healthpeak Properties (NYSE: PEAK), then known as Healthcare Property Investors and later HCP. She served as vice president of acquisitions before leaving in 2006 to take two years off to spend time with her children. In 2008, …
By Jeff Shaw When Jeramy Ragsdale founded Thrive Senior Living in 2008, it was not his intent to challenge the industry to redefine itself. At the time, he was a residential home developer and knew that seniors housing was a niche property type for which he could find financing. He built his first assisted living and memory care community in the company’s hometown of Atlanta. He immediately fell in love with the business and its ability to positively impact people. By 2016, the company operated eight communities with another 12 …
CEO of Hunt Real Estate Capital is tasked with consolidating Lancaster Pollard, RED Capital Group and Hunt into a lending powerhouse. By Matt Valley It may not be a household name just yet, but ORIX USA is certainly making its mark in the world of commercial real estate finance. In January, the U.S. and Latin America business hub for Tokyo-based ORIX Corp. completed its acquisition of New York City-based Hunt Real Estate Capital LLC. Simultaneously, ORIX USA announced that it would combine Hunt with its two ORIX Real Estate Capital …