While rising occupancies and improving cash flows buoy owners and operators, questions remain whether net operating income will ever completely recover. By Jane Adler After several years of punishing declines, net operating income (NOI) — defined as operating income minus expenses — is slowly climbing back. As a vital metric used to assess the profitability and value of a property, any improvement in NOI is a good sign for the health of the sector. Seniors housing occupancy has been on the upswing for eight consecutive quarters, boosting revenues. The occupancy …
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 …
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 — …
LITTLE ROCK, Ark. — Anthem Memory Care has assumed management of Pinnacle Place Memory Care, formerly known as Avenir of Little Rock. Under the agreement, Anthem Memory Care now manages all aspects of the community’s operations and will add regional staff, technology and training programs to adapt the community to its approach to care. The new property, located in Little Rock, brings Anthem’s portfolio up to 20 properties and marks the Oregon-based operator’s entry into Arkansas.
The Sept. 28 webinar “The Do’s and Don’ts of Marketing Automation for Seniors Housing“ focused on how growing occupancy at properties can effectively counter the headwinds the industry is currently facing. Automation can make for smart and effective marketing, but what are the best practices when it comes to streamlining and messaging? Tune in to learn how repetitive (and often manual) tasks can be overhauled by an overall strategy that automates marketing at a scale that’s both appropriate and human. Learn about particular industry challenges, seniors housing industry trends and how …
The Sept. 14 webinar “It’s the Dog Days of the Senior Living Investment Market — How to Find theCreativity Needed to Overcome Capital Markets Crunch“ analyzed the outlook throughout today’s seniors housing market. Operations recovery, development, transaction trends, capital availability and pricing were all points of discussion for an hour-long conversation between a six-person panel of industry experts. Where are there opportunities and how is the seniors housing world adapting to the current environment? Click here to find out more about what experts are seeing in the capital markets landscape. Major …
CHICAGO — Andrew Agins and Justin Dickinson have announced the launch of Evolve Senior Living, a Chicago-based operator. The two partners and co-founders both worked at Anthology Senior Living, a Chicago-based operator and subsidiary of CA Senior Living Co. “For the last two decades, we have been not only owners of seniors housing communities but also worked in various capacities in the sector including development, acquisitions, asset management, operations and technology,” the pair said in a press release. “We recognize the challenges in the industry. We also understand the strategies …
The September 6 webinar “Technology & Seniors Housing — How to Achieve Smart, Streamlined &Standardized Business Systems” focused on how operators can optimize technology to meet resident and family expectations while operating as efficiently as possible. See how industry experts are encouraging a more cohesive approach to systems in seniors housing by consolidating their tech stack. This webinar covers the importance and the components of a strategic technology plan, the impact of resident and family experiences, plus how residents are using engagement technology currently (including announcements, social calendars, maintenance, meal ordering and …
CHARLESTON and HANAHAN, S.C. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Ashley River Healthcare, a 125-bed skilled nursing facility in Charleston, and The Reserve Healthcare and Rehabilitation, a 135-bed skilled nursing facility in Hanahan. These acquisitions were effective Sept. 1, and will be subject to a long-term, triple-net lease. “These buildings present a great geographical and strategic fit within this particular market,” says Barry Port, Ensign’s CEO. These acquisitions bring Ensign’s portfolio to 295 healthcare operations, 26 of which also include senior living operations, across …
CHICAGO — Ventas (NYSE: VTR), a Chicago-based REIT, has named three new operators for a portfolio of independent living communities in Texas, Florida and California. Sodalis Senior Living will take over management of 13 communities in Texas, while Priority Life Care will operate eight properties in Florida and Discovery Senior Living will operate five in California. Ventas “is expanding its successful existing relationships with the three managers to increase occupancy and performance in these communities,” the company said in a press release. The communities will be operated under management contracts. …