ROSWELL, Ga. — Phoenix Senior Living, a developer and operator based in the Atlanta suburb of Roswell, has launched its Healthcare Partnership Program, using three of its seniors housing facilities to take in seniors who have tested positive for COVID-19 but do not require 24-hour nursing care. The idea of the program is to offer relief to Atlanta-area hospitals, opening beds that allow those healthcare providers to focus on critically ill patients. Currently three Phoenix communities are accepting non-critical, coronavirus-positive seniors. The incoming patients are being placed in designated areas …
coronavirus
During this unprecedented time, marketing and sales professionals must continue to connect and engage with prospects, both existing and new. This webinar features panelists discussing what COVID-19 has meant for the seniors housing sector and strategies for effective marketing despite social distancing, shelter-in-place, and quarantine situations. Learn what alternate lead-generation options are available to continue to work toward 2020 sales and marketing goals. Hear what strategies industry peers are incorporating to manage through this time of uncertainty. Expert panelists weigh in with advice and helpful information about what industry professionals …
As the COVID-19 pandemic upends just about every aspect of life, senior living communities are retooling their marketing strategies. Instead of letting up on sales efforts, communities are finding new ways to communicate supportive messages to prospects while reinforcing their brands with a positive twist. “We recognize the sensitivity around sales and marketing at this time,” said Valerie Whitman, vice president of senior living for LeadingResponse, a Tampa-based customer acquisition service. “We can show the world what we can do for seniors and their families. This is an opportunity for …
ARLINGTON, Texas — Heartis Arlington, an assisted living and memory care community in Arlington, will test all of its 80 residents and 75 staff to detect if anyone in the community has contracted COVID-19. Two positive COVID-19 cases have been identified from Heartis residents who were transferred on March 18 and 22, respectively, to Medical City Arlington after exhibiting symptoms and where they are now being treated and improving. Heartis Arlington enacted advanced staff training to detect symptoms and established protocols in February, and visitor restrictions were put in place …
Senior Living Receives Healthcare Exemptions from Department of Labor for Coronavirus Response
by Jeff Shaw
WASHINGTON, D.C. — The Department of Labor (DOL) issued guidance on Saturday March 28, on key provisions of the Families First Coronavirus Response Act (FFCRA). Of critical importance members is the definition of “healthcare provider” as it related to an employer’s ability to be exempt from the requirements of the act, according to the American Seniors Housing Association (ASHA). Under FFCRA, an employer with fewer than 500 employees must offer 10 days of paid sick leave and up to 12 days of paid emergency family and medical leave under certain …
IRVINE and WESTLAKE VILLAGE, Calif. — As publicly traded REITs in the seniors housing space continue to brace for the impact of the COVID-19 pandemic, Irvine-based Sabra Health Care REIT (NASDAQ: SBRA) and Westlake Village-based LTC Properties (NYSE: LTC) have announced cash-saving methods. Sabra plans to cut its quarterly dividend from 45 cents per share to 30 cents per share, starting in May. The company expects to generate an extra $30 million per quarter, with plans to use those funds to manage debt and fund operations. “Preservation of capital is …
WASHINGTON, D.C. — As the COVID-19 pandemic puts a strain on seniors housing operators, especially with the bad press brought on by 35 deaths from the virus at a single skilled nursing facility in Kirkland, Wash., the associations serving seniors housing have kicked lobbying efforts into high gear. The three main groups are the American Seniors Housing Association (ASHA), a Washington, D.C.-based organization supporting the seniors housing industry; Argentum, an Alexandria, Virginia-based trade association dedicated to supporting companies operating professionally managed senior living communities; and Washington, D.C.-based LeadingAge, which advocates …
IRVINE, Calif. — Healthpeak Properties (NYSE: PEAK), the Irvine-based healthcare REIT formerly known as HCP, released a presentation to its investors this morning updating them on the company’s approach to the COVID-19 pandemic. Healthpeak confirmed that there are confirmed cases in seven of its seniors housing communities, of which six are managed by either Sunrise Senior Living or Atria Senior Living. “In each of the affected communities, rigorous quarantine and isolation procedures have been implemented in close cooperation with local and state health authorities,” stated the presentation. “Regrettably, five residents who …
Contrary to speculation that families are removing their elderly loved ones from seniors housing in fear of the COVID-19 pandemic, a new survey reports that 79 percent of operators saw no significant changes in move-outs last week and no significant changes in occupancy. Activated Insights, the senior care group of Great Place to Work, conducted the survey of private-pay seniors housing operators representing 1,078 buildings and 100,899 units. Several U.S. operators noted that sales and marketing activities including all move-ins have been halted completely during the pandemic. Other operators continued …
REIT Roundup: Omega to Repurchase $200M in Stock, Welltower Receives $1B Loan, SNR Reports COVID-19 at Two Communities
by Jeff Shaw
As seniors housing REITs make quick moves to respond to the COVID-19 pandemic, several have announced changes to both protect shareholders and residents. For example, Omega Healthcare Investors (NYSE: OHI) has authorized a stock repurchase program totaling up to $200 million; Welltower (NYSE: WELL) has taken on a new $1 billion term loan; and New Senior Investment Trust (NYSE: SNR) has updated plans to contain the outbreak in two of its communities. OHI describes its move as a way to “enhance stockholder value and balance sheet,” as the company’s stock …