Industry Voices

Where is the industry currently at in the recovery process? A period of soul searching By Talya Nevo-Hacohen Chief Investment Officer Sabra Health Care REIT The industry is well into its occupancy recovery, but margin recovery is still out of reach. Emerging out of the economic challenges of the pandemic, the industry is confronting dislocation in the capital markets and shifts in valuation that are not temporary. And finally, the industry is trying to figure out how to be relevant to the baby boomer generation, which will demand customized experiential …

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By Earl Parker Recruitment and retention of talented individuals is one of the greatest challenges facing the senior living industry right now.  The COVID-19 pandemic placed enormous pressures on the healthcare and senior living industries, forcing millions of professionals to change employers or careers entirely. With demand for senior care increasing daily, it is essential that providers rethink their strategies for recruitment and focus on the cultural characteristics that have become increasingly important for today’s workforce.  Today’s workforce wants value, they want purpose, they want to be servant leaders.  What …

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By Seth Walker When I was brought aboard SRI Management by CEO Don Bishop, I was determined to prove the immense value that lies within business operations. To make this happen, I knew I needed to start by introducing tools that better measured key aspects of the operations and in as close to real-time as possible.  As an operator and third-party manager, I’ve discovered that improved business operations can drive significant savings and add value for owners and investors. Focus on the business aspects Traditionally, senior living has revolved — …

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By Steve Nowak, Esq. Appraisal methodologies for financing seniors housing properties factor in more than real estate to produce amounts that exceed property-only value. That means seniors housing owners may be paying real-estate taxes on non-real-estate assets.  Everyone can agree that a senior living operation — whether independent living, assisted living, memory care, skilled nursing or some combination — consists of a variety of assets. There are real estate assets (the land and building); personal property assets like furniture and kitchen equipment; and intangible business assets such as the work …

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By Jeff Shaw When Traci Taylor-Roberts took the reins at Sodalis Senior Living in 2020, her goal was to grow the company. And grow it did. During her first two years at the helm, the operator went from nine communities in Texas to 24 across Texas, Florida and Georgia. The company has been on the Inc. magazine list of the 5,000 fastest growing companies list for two years running. Companies on the 2023 Inc. 5000 are ranked by percentage revenue growth from 2019 to 2022, according to the magazine. “This …

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Roundtable participants Alex Florea, Managing Director, Blueprint Healthcare Real Estate Advisors Ross Sanders, Managing Director, Investment Sales, Berkadia Senior Housing & Healthcare Ryan Saul, Managing Director, Senior Living Investment Brokerage John Sweeny Jr., Co-Head National Senior Housing, CBRE Jay Jordan & David Kliewer, Grandbridge Real Estate Capital Cindy Hazzard, PresidentJCH Senior Housing Investment Brokerage Ken Carriero, Senior Vice President, Colliers Bill & Madison Meiser, CEO, COO, WMRG Real Estate Andrew Wittenauer, Senior Associate, Helios Healthcare Advisors By Jeff Shaw We all know the factors by now that are slowing transaction …

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Are you seeing a narrowing of the bid-ask gap or indications that the investment market is thawing? Stabilization is coming By John Sweeny Co-Head, National Senior Housing CBRE We are seeing the early stages of a narrowing of the bid-ask spread as the consensus view is forecasting higher benchmark rates for longer (there’s no pending Fed cut in the short term), as owners think through decisions surrounding debt maturities or expiring caps, fund maturities or their time value of money calculus.  We expect pricing for the balance of the year …

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By Jason Clouet, Bayview PACE For seniors housing developers and project sponsors, the timing of the growing adoption of commercial property assessed clean energy (C-PACE) financing couldn’t be better. While demographics show demand for housing is rising, many new seniors housing projects are stalled as traditional financing sources are drying up, or rising interest rates have squeezed margins, or worried partners have increased equity/debt demands. C-PACE financing is saving new construction projects across the country that were halted or facing delays. It is also providing a welcome restructuring of the …

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By Jennifer Apy, Partner, Chief Marketing Officer, Chief Outsiders The pandemic of 2020 hit hardest among the most vulnerable. It was a tragic season of devastation, fear and uncertainty among the elderly population, and it presented an unforeseen crisis for the senior living facilities that supported them.  Three years later, in 2023, that industry is just barely recovering from the 30 percent decline in population. To further the problem, rising inflation is leading seniors to age in their homes — pushing the average move-in age to 87 years. Senior living facilities were …

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Developers rethink strategies to manage larger economic headwinds. By Dan King With today’s soaring construction costs, rising inflation and endless supply chain disruptions, developers are more mindful than ever before about project design, efficiency and affordability in senior living. In our current economic landscape, developers are rethinking everything from room sizes to how they use shared spaces to solve some of the biggest problems currently facing construction and design. To keep senior living projects moving forward through a down economic cycle, we as architects and designers are constantly working with …

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