Technology can replace some functions in senior living, but not human connection. By Serena Lipton, JLL Valuation & Advisory Services “The COVID-19 crisis has created a tremendous opportunity for the industry to evolve into a new set of realities. More than ever, innovative, resident- and cost-centric technology solutions are front and center.” — Mel Gamzon, principal, Senior Housing Global Advisors Without a doubt, advancement in technology has quickly become one of the most relevant trends in the seniors housing industry. Adapting to these trends is crucial for companies that want …
Operations
Regional operator keeps it in the family. By Jeff Shaw It’s rare to encounter a company whose name is fitting on several levels, but that’s exactly the case with Generations LLC, an Oregon-based owner and operator. For starters, the name reflects the elder generation that occupies its communities. Secondly, the company also believes in implementing multigenerational experiences for its residents, such as onsite daycare and amenity spaces open to the public. Thirdly, it is also a family-owned company, featuring multiple generations of founder Wendell White’s family. That family tree includes …
ST. CHARLES, Mo. — Arrow Senior Living, a St. Charles-based operator, has announced 21 promotions in 2021, growing in nearly every department and expanding its executive leadership team. Among those shifting to more senior roles are six executive-level promotions. Cassie Tweten has been appointed as Arrow’s chief sales officer. She joined Arrow in 2010 and has been an integral part of developing and executing sales strategies throughout her tenure. Justin Ladd was named vice president of operations. Under his new title, Ladd will lead Arrow’s team of regional directors and …
On June 15, Seniors Housing Business hosted the webinar “HVAC and Seniors Housing — Reduce Costs and Achieve Value in Senior Living Properties.” Panelists took a deep dive into the benefits of HVAC systems, particularly variable refrigerant flow (VRF) systems, and how they can be implemented in seniors housing communities to save energy and money. Tune in to hear panelists discuss the following topics and more: How are modern construction, decarbonization techniques and rising energy costs driving the popularity of VRF technology? How do the features of HVAC systems affect building …
Post-Pandemic Considerations for Acquisitions and Renovations
By Sarah Daniels Planning ahead is never easy, but in the world of senior living construction, acquisitions and renovations, it makes everything that follows easier — and often more cost effective in the long term. The need to future-proof seniors housing has taken on new significance in the face of COVID-19 and will continue to be a priority to help prospective and current residents feel safe physically, mentally and emotionally. With seniors housing occupancy rates down, creating a strong, upfront plan for long-term goals incorporating trends in design, wellness and technology …
The Ensign Group to Operate Four CareTrust-Owned Skilled Nursing Facilities in Washington
MOUNT VERNON, SHORELINE, LAKEWOOD and VANCOUVER, Wash. — The Ensign Group, Inc. (NASDAQ: ENSG) will take over operations of four skilled nursing facilites in Washington. The owner, CareTrust REIT Inc. (NASDAQ: CTRE), is transferring the operations from Five Oaks Healthcare. The four facilities are: Mira Vista Care Center, a 94-bed skilled nursing facility in Mount Vernon; Shoreline Health and Rehabilitation, a 114-bed skilled nursing facility in Shoreline; The Oaks at Lakewood, an 80-bed skilled nursing facility in Lakewood; and The Oaks at Timberline, a 98-bed skilled nursing facility in Vancouver. …
Webinar: Seniors Housing Valuation Outlook — What’s Next Now that the Pandemic End is in Sight?
How do owners, operators, investors, developers and lenders view valuation in seniors housing? Seniors Housing Business and sponsor V&IG hosted the webinar “Seniors Housing Valuation Outlook — What’s Next Now that the Pandemic End is in Sight?” to weigh in as trends in the market solidify. What can the seniors housing industry expect when it comes to construction, labor, the impact of equity and debt on valuations, changing operating models and more? How can the industry bounce back from low occupancy rates? What will determine value now and in the immediate …
By Mark Lawrence, Oakmont Assisted Living Residents of assisted living facilities across the nation are getting vaccinated in large numbers. Nearly 4.9 million residents and staff in long-term care have received at least one shot. With the vaccination rate increasing every day, residents are looking forward to participating in live events and going on field trips again. However, we can’t just restart old activities as if everything is back to normal. It is important that assisted living facilities prepare for events with safety in mind. Here are a few things …
BOISE, Idaho — Blueprint Healthcare Real Estate Advisors has arranged the installation of a new operator at Valley View Nursing & Rehabilitation, a skilled nursing facility in Boise. The 120-bed facility is a component of a larger campus that includes 51 units of independent living and 143 units of assisted living. The landlord, a national owner-operator, manages the rest of the campus and sought a new tenant for the skilled nursing portion. The new skilled nursing operator is a West Coast-based management company.
MINNEAPOLIS and BLOOMINGTON, Minn. — Lifesprk, a Minneapolis-based community-based services provider, has announced plans to acquire Tealwood Senior Living, a Bloomington-based operator with 35 seniors housing communities. “The current senior housing market, accelerated by the pandemic, created significant opportunity to provide a markedly different approach to senior living,” says Joel Theisen, Lifesprk CEO. “Both Lifesprk and Tealwood are well-positioned to seize that opportunity by joining forces to serve seniors more fully, connecting them to everything they need in one system to age magnificently and transform the way people experience senior …