Industry Voices

By Kenneth Gibson and Lindsay Potter Ask executive directors of senior living communities across the country about their biggest challenges and virtually all of them will mention building and retaining strong teams.  A community’s staff is the foundation of our ability to serve residents and their loved ones with the care and compassion that they deserve. Without an effective team, senior living communities won’t reach their potential and could even become mired in dysfunction.  When we were honored to be named the top senior living executive directors in our respective …

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By Danette Opaczewski As the senior living landscape undergoes transformative changes, one notable trend stands out: the shifting demographics in seniors housing.  On a national level, the U.S. Census Bureau national population predictions project the country’s population trends through 2100. Overall, the Census Bureau forecasts that older adults will make up a larger portion of the population in the coming years, with a median age expected to increase from 38.9 years in 2022 to 47.9 years in 2100.  Zooming into the senior demographic specifically, the percentage of the population age …

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To what extent will there be opportunities to acquire distressed assets in 2024, and what will be the factors? Defaults may be coming By Cindy Hazzard Broker/President JCH Senior Housing Investment Brokerage The failing debt-coverage ratios due to rising expenses, without equivalent resident rate adjustments, may push lenders to enforce loan covenants. This would trigger defaults for many owners, creating a surge in distressed properties.  If pursued, the focus shifts to what discount lenders might accept to cleanse their books, creating prime opportunities for cash-ready buyers. The market could see …

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By Dan Lindberg, Founder & Principal, Applied Economic Insight According to Housing America’s Older Adults, a report released at the end of November 2023 by the Joint Center of Housing Studies of Harvard University, naturally occurring retirement communities (NORCs) house more older adults than active adult, independent living, assisted living, memory care and skilled nursing combined.  The seniors housing sector has many of its own acronyms like CCRCs (continuing care retirement communities), for example, yet NORCs are one we have not paid much attention to. We should. Such communities, whether intentional or not, …

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By Holly Koch, Director of Marketing Strategy, SmartBug Media If you are in the senior living industry, you’ve noticed a surge in tech-savviness among seniors and their families. The journey to finding the perfect senior living community unfolds online, often starting by doing research on communities and reading reviews to narrow down options.  Recognizing this digital shift, incorporating a reputation management strategy into your digital marketing playbook isn’t optional any longer — it’s a vital component of a thriving community. The shift in senior living marketing strategies Seniors today are more …

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Developers and operators must be proactive to remedy defects. By Megan A. Picataggio, Ball Janik LLP A high volume of construction and development can often result in the commercial real estate industry cutting corners, leading to an increase in construction defect claims and litigation. Multifamily construction projects, including seniors housing, are no exception. In order to deliver a high volume of projects quickly and maximize profits, general contractors modify construction methods to meet demand. This often results in poorly constructed projects that contain a litany of construction defects. It is critical …

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By Stephen Anderson Let’s say the quiet part out loud: providers and aggregators just aren’t friends.  In theory, the relationship between aggregator and provider is mutually beneficial, funneling prospective families right to the doorstep of communities that have spaces to fill. It’s a common and attractive route to growth that’s been proven to work in countless industries. From travel to real estate to insurance, marketplaces for high-value, experiential products exist for a very simple reason: They make the discovery process easier for consumers. A recent Seniorly study revealed that almost …

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Make sure the operator and general contractor work together as residents move in. By Chad Suitonu You, as the owner/developer of a brand new senior living community, just finished the grueling construction effort. Now it’s time to hand the building over to your senior living operator and sit back and make some rent money.  But wait a second — your job as owner is not over yet. You’ll be involved with the project for months to come as the operator (specifically the executive director and facility manager) take over the …

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Executive with diverse background leverages a family history of hospitality to serve residents. By Jeff Shaw Fee Stubblefield’s resume definitely will make a reader do a double take. He owns a hot springs resort, is a cattle rancher, is on the verge of publishing his first book and is founder of a seniors housing firm that develops, owns and operates communities — all with no college degree. Stubblefield grew up helping with the family business, Lehman Hot Springs, a resort approximately 250 miles east of Portland in Umatilla County, Oregon. …

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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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