Government healthcare spending is set to skyrocket, costs of long-term care are steadily rising, while at the same time, most seniors’ wallets are strained thanks to the prolonged economic recession. Add to that dwindling government benefits programs such as Medicare and Social Security that are unfortunately linked to an enormous federal deficit problem, and the future [...]
It began in 2011, and it’s going to keep happening until 2030: 10,000 Baby Boomers are turning 65 each day, and those in the senior housing industry don’t think the “Greatest Generation” is going to enter quietly into accommodations that don’t meet their standards and expectations. The Boomer generation has generally gone through life demanding [...]
Adaptability is one of the cornerstones of human evolution. Evolution is a slow process but adaptability, or the ability to “get by” in the short term, happens quickly and is reactionary. With the economy in a state of disarray during 2010 and 2011, the senior living industry and businesses in other areas were focused on [...]
The ability for seniors to age in place stems partially from the use of senior care technology, and just like the aging-in-place movement, senior living providers have the opportunity to take advantage of technological advances within their facilities rather than view them as a threat. “Technology is both a threat to our industry and an [...]
Walgreens (NYSE:WAG) and Greystone Healthcare Management, which manages 27 skilled rehab facilities in three states, recently launched a collaborative therapy management pilot program at the Lady Lake Specialty Center in Lady Lake, Fla., aimed at reducing hospital readmission rates for patients in post-acute care settings. Through the program, Walgreens community pharmacists deliver medication and counseling [...]
The American Health Care Association and the National Center for Assisted Living (AHCA/NCAL) unveiled on Wednesday a multi-year initiative to meet new quality goals, which include reducing rehospitalization rates and improving staff retention. The Quality Initiative has four goals designed to improve care in skilled nursing and assisted living facilities. “We’re looking at the future [...]
Beech Street Capital Closes $8.9 Million Refinance for New Jersey SNF Beech Street Capital, LLC announced that it provided an $8.9 million HUD Section 223(a)(7) loan to refinance Arcadia Nursing & Rehabilitation Center, a 128-bed skilled nursing facility in Hamilton Square, New Jersey. The borrower had 28 years left on an existing $9 million FHA-insured [...]
ARA National Seniors Housing Group, based in Atlanta, Ga., brokered the sale of The Blake at Gulf Breeze, an assisted living and memory care community located in Gulf Breeze, Fla. AEW Capital Management, a global real estate investment manager, acquired the 107-unit property for $24 million on behalf of AEW Senior Housing Investors, L.P. The [...]
Health Care REIT, Inc.’s recent RIDEA-structure partnership with a Canadian REIT for a 42-property portfolio makes sense, says the U.S. company, considering extremely favorable market demographics of a large senior population and a growing demand for senior housing. “We have spent some time over the last year or so looking at different marketplaces and Canada we [...]
It used to be that residents requiring different levels of care could still dine together in continuing care retirement community (CCRC) Harbor’s Edge’s River Terrace dining room. Whether residents occupied the community’s independent living units, assisted living apartments, or skilled nursing units, they could all join each other at the dinner table—until last spring, when the [...]
CNL Healthcare Trust, Inc., said on Feb. 20 that it made its first acquisition (originally announced in December), a five-property portfolio of senior housing communities purchased for approximately $84 million. CNL is a real estate investment offering that recently changed its name from CNL Properties Trust to reflect its focus on healthcare assets. The portfolio was [...]
For CLASS Act to Survive, Look to FHA for Inspiration
New construction is a risky proposition these days. Initial design and the costs of construction are some of the most critical factors when developing a new home even though the long-term use of the house is unquestioned. Is it right to rip up the foundation of a new home because of questions about how to [...]