Tuesday, April 23, 2024
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Legal Issues

FeaturesFrom The MagazineInvestmentLegal Issues

Owners, Operators Get in Sync

by Jeff Shaw

A variety of partnerships and lease structures present many options for landlords and tenants to both benefit. By Jeff Shaw In the retail real estate world, triple-net leases are king. Under this standard agreement, the tenant is responsible for all expenses — taxes, insurance, maintenance, utilities and rent to the owner.  But seniors housing is a very different type of real estate. In retail, if a tenant fails, the owner simply finds a new one. For senior living, there’s a human element at play both for the employees and the …

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FeaturesIndustry VoicesLegal Issues

Surfside Collapse Teaches Lessons on Maintenance, Recertification in Seniors Housing

by Jeff Shaw

By Phillip Joseph and Gabriel Coelho, Ball Janik Tragedies often guide reform and progress. After the Champlain South Tower condominium in Surfside, Florida, collapsed, attention has focused on preventing similar future tragedies. There is a renewed focus on ongoing oversight, construction and inspection of residential towers throughout Florida, especially for vulnerable members of society. Recertification requirements Let’s begin with a brief introduction to the recertification requirements discussed in the aftermath of the Champlain South collapse. Surprisingly, recertification is not a state requirement, but a Miami-Dade County creation enacted in 1974. …

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Active AdultAssisted LivingIndependent LivingIndustry ContentLegal IssuesMemory CareOperationsPeopleSkilled NursingVideosWebinars

Webinar: COVID Strategies for Seniors Housing Operators — Managing Risk

by Sarah Daniels

  In the Oct. 26 Seniors Housing Business webinar entitled “COVID Strategies for Seniors Housing Operators — Managing Risk for Residents, Staff and Service Providers,” the topic of discussion was how best to keep residents and staff safe from COVID-19. Panelists shared differing approaches to this difficult problem, as well as their decision-making processes for setting vaccination requirements within their communities, employee incentives, communication strategies and how to implement these best practices in the midst of staffing shortages. Listen to hear how these decisions impact seniors housing operations, human resources and marketing approaches, …

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Industry VoicesLegal Issues

Understand the Impact of Intangibles

by Jeff Shaw

How to use these factors to reduce a senior living property’s tax assessment. By Morris Ellison The longstanding debate over intangible value in commercial real estate taxation rages unabated, and nowhere is the squabbling fiercer than in valuing senior living facilities.  Because these properties generally transact based on income from a going concern rather than from real estate, taxpayers planning to acquire a seniors housing facility should consider how to separate intangible value prior to acquisition. Simply waiting for the annual tax bill is a recipe for incurring inflated cost …

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Industry VoicesLegal IssuesSkilled Nursing

Certificate of Need Laws and Nursing Facilities: The Good, the Bad and the Ugly

by Jeff Shaw

State-by-state comparisons do little to solve the correct future for this complicated issue. By James Tellatin, Integra Realty Resources It is not surprising that states with certificate of need (CON) laws for skilled nursing facilities (SNFs) have higher occupancy than states without CON requirements, or moratoriums on new beds. Occupancy States Without Certificate of Need (8)                                                       74.7% States With Certificate of Need                                                                 80.7% States With Skilled Nursing Facility Moratorium and No CON (9)                82.4% Source: 2019 Certification and Survey Provider Enhanced Reports (CASPER) The central question surrounding certificate of need …

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DevelopmentIndustry VoicesLegal Issues

How to Work with Cities on New Developments

by Jeff Shaw

Making a partner of your municipality can smooth over many challenges. By Chad Suitonu The hardest thing about senior living development is finding the right land. Many of the good spots are already taken and competition is fierce for the remaining.  But when you have found the sweet spot — that site that has the right demographic demand, limited competition, barriers to entry and a feasible price — you’ll likely still have some obstacles to overcome with the city to get your project built.  Not only must you ensure that …

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Industry VoicesLegal IssuesOperations

Make Safety a Competitive Advantage

by Jeff Shaw

COVID-19 broke seniors’ trust, and successful communities must repair it. By Raj Shah, CareSafely Running a seniors housing business is an inherently risky proposition. As an operator, you are trusted with caring for residents and patients with complex and persistent medical, physical and psychological conditions. Residents (current and future) and their families place significant trust in your organization to have appropriate safety processes and systems in place. In their minds, safety is non-negotiable. Food menus, building décor, amenities and social activities are all second-order priorities compared to basic safety. The …

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Industry VoicesInvestmentLegal Issues

Private Equity Faces Challenges and Opportunities Amid COVID-19

by Jeff Shaw

By Michael Okaty and Mark Scimeca, Foley & Lardner The private equity investment landscape for seniors housing has, like so many things this year, been profoundly disrupted by the ongoing COVID-19 pandemic. From 2016 through the third quarter of 2019, private buyers, including private equity, have consistently provided the greatest investment in the seniors housing industry, outpacing public, institutional and cross-border investment and averaging $1.5 billion per quarter. The outlook early this year was bright for private equity investment generally. With investors seeking higher returns, private equity funds going into …

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Affordable HousingLegal IssuesMassachusettsNewsPeople

2Life Communities Names Jeff Sacks as Chairman of the Board

by Jeff Shaw

BOSTON — 2Life Communities, a Boston-based developer, owner and operator, has named Jeff Sacks as the company’s chairman of the board. He replaces Donna Kalikow, who will continue to serve on the board. Sacks, a partner with Nixon Peabody, is a community development attorney who represents for-profit and nonprofit developers of affordable and seniors housing. Through his work with public housing authorities, he has helped to transform outdated public housing projects in the state into vital communities that continue to serve their low-income residents. Sacks served as a commissioner of …

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Legal IssuesNews

HHS Partners with CVS, Walgreens to Distribute Free Vaccines to Seniors Housing Providers Once Available

by Jeff Shaw

WASHINGTON, D.C. — The U.S. Department of Health and Human Services (HHS) and Department of Defense (DoD) have announced agreements CVS and Walgreens to provide and administer COVID-19 vaccines in long-term care facilities nationwide with no out-of-pocket costs once the vaccines are available. The free vaccines will be available to both staff and residents at skilled nursing facilities, nursing homes, assisted living facilities, residential care homes and adult family homes. “Today’s historic pharmacy partnership will truly help jurisdictions solve a logistical hurdle and decrease the burden of distributing, administering and …

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