Industry Voices

Don’t Let Assessors Use Finance Valuations for Taxes

by Jeff Shaw October 4, 2023

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 …

October 4, 2023

Industry Voices

The SHB Interview: Traci Taylor-Roberts, CEO/President, Sodalis Senior Living

by Jeff Shaw October 4, 2023

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 …

October 4, 2023

Acquisitions Industry Voices

Broker Q&A: Dealmakers Accept the Challenge

by Jeff Shaw October 4, 2023

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 …

October 4, 2023

Acquisitions Industry Voices

Question of the Month: The Bid-Ask Gap

by Jeff Shaw October 4, 2023

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 …

October 4, 2023

Development Finance Industry Voices

C-PACE Gains Popularity for Seniors Housing Construction

by Jeff Shaw September 26, 2023

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 …

September 26, 2023

Features Industry Voices Operations

Senior Living Capacity is Outgrowing Demand; Here’s How to Fill Beds Anyway

by Jeff Shaw August 21, 2023

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 …

August 21, 2023

Development Industry Voices

Flexible Design Helps You Adjust on the Fly

by Jeff Shaw August 10, 2023

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 …

August 10, 2023

Industry Voices

The SHB Interview: Edwin Funes, The Arbor Company

by Jeff Shaw August 10, 2023

Young gun works his way up from dining room server to executive, winning an Argentum Senior Living Community Leadership Award along the way. By Jeff Shaw Edwin Funes started young, but you could’ve guessed that by the fact that he’s a 35-year-old taking on a regional director role for The Arbor Company. Arbor operates 45 communities in the Southeast, Northeast, Midwest and Texas. In his new role, Funes oversees seven of the Mid-Atlantic properties as regional vice president of resident care. He earned the promotion soon after winning the 2023 …

August 10, 2023

Development Industry Voices Technology

We Must Create Active Adult Environments within Senior Living Communities

by Jeff Shaw August 7, 2023

By Jason Erdahl, principal, director of senior communities, Ankrom Moisan Nursing and residential care facilities lost more than 145,000 workers over the last two years, according to the National Center for Assisted Living. Between staff shortages and increased budgetary concerns for staffing in the senior care market, a solution is necessary to support the growing aging population. While staff members are still very much needed to assist those residing in these facilities, architects and designers can answer the call for help by creating spaces that aid residents in doing daily tasks on …

August 7, 2023

Industry Voices Legal Issues People

Measuring Labor Productivity Can Lead to Powerful Insights

by Jeff Shaw August 1, 2023

By Dan Lindberg, founder and principal, Applied Economic Insight Labor shortages took center stage for business leaders and economists across many sectors of the economy during the Great Resignation toward the end of the COVID-19 pandemic. Such shortages, however, are nothing new for seniors housing and care providers. While required staffing ratios and regulations add to this, at heart seniors housing is an operationally intensive business. It takes people to serve people. That said, labor is a two-sided coin. On the first side, we have staffing levels measured in terms …

August 1, 2023

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