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 …
Industry Voices
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 …
With workforce expenses continuing to pose a challenge to operators, should investors lower ROI expectations? Tech softens the blow By Geert Houben Founder & CEO Cubigo It’s been well noted that 2020 is poised to be a year of disruption, holding true across many of the factors that go into seniors housing operations. Rising costs of living and growing competition must guide owners and investors to think innovatively. Leveraging technology to streamline operations can not only increase efficiency, but also decrease the number of work hours required. If stakeholders can …
Collaborations with builders and designers could help developers achieve profitability in this growing sector. By Drew Blaylock, Director of Preconstruction, ARCO Living Group As developers work to stay in front of the changing seniors housing market, the development of active adult rental communities continues to increase, but not without challenges. For seniors housing developers, there is a high amount of risk associated with creating a new product type that is similar to traditional seniors housing facilities but charges rent rates more in line with a standard multifamily product. There are …
Change your approach to resident engagement, as demands have shifted drastically. By Eric Eichhorst, Director of Sales and Marketing, Applewood Since I started my senior living career in 2004, resident interest drivers have changed and changed again, several times over. Every day, here in our metro New York City market, I talk with retirees and their families about what they are looking for in their next home that will meet their interests and needs. They are not looking for bingo or bocce or the next bus to Atlantic City. In …
Executive returns to her old position at a time of explosive growth for the owner-operator. By Jeff Shaw Tana Gall is returning to a familiar role at a familiar company. Gall took over the reins at Seattle-based owner-operator Merrill Gardens at the start of the year, replacing the retiring David Eskenazy. Strangely enough, one of Eskenazy’s predecessors was… Tana Gall. Gall served as president from 2013 to 2015, before leaving to pursue other job opportunities. This was during a period of major divestment for the company. Her second stint will …