In case you missed them, here are the top headlines grabbing SHN readers’ attentions this week:
Developers See Opportunity as Old Nursing Homes Become Obsolete — Shared living spaces and cafeteria-style dining are the nail in the coffin for decades-old post-acute care communities, senior living industry leaders agreed during a recent Senior Housing News Summit in Chicago, Ill. To meet modern aging Americans’ expectations, older facilities must upgrade their amenities to stay competitive.
Providers Prepare For Huge Wave of Memory Care Competition — Construction of memory care facilities is taking the lead compared to other types of senior living housing products in the market, according to data from the National Investment Center for the Seniors Housing and Care Industry (NIC). In fact, all property types are now adding memory care on a national basis, according to NIC; but those familiar with the market warn newcomers that while they’re welcome, they must understand the specific resources such facilities require.
Senior Living Faces Danger in Lack of Resident Background Checks — Background checks are required for most employees in senior living communities, but not for residents, experts say. Pushing drugs might seem like a scheme reserved for the big screen, but without checking the backgrounds of residents recent news indicates that operators are putting themselves and their residents at risk for criminal activity.
Greystone Acquires ARA Seniors Housing Group to Become One-Stop Shop — Greystone is expanding its reach in the senior housing market through its recent acquisition of ARA Seniors Housing Group, the New York-based senior housing and multi-family real estate lender recently announced. Greystone Real Estate Advisors, Inc., will provide a range of full spectrum of services including debt, equity, acquisition and investment sales to funds, private equity groups, regional and national operators, not-for-profit owners and healthcare REITs.
Senior Living Leaders: New Product Must Emerge to Fill Care Gaps — As senior living providers adapt to increasingly blurred lines between different senior housing products in order to stay competitive, two new new approaches are emerging, industry leaders said during the recent LINK LTC & Senior Living Conference in Chicago, Ill Some are expanding their reach into other sectors of the senior housing industry to offer what they see as a need for a continuum of care, while others are focusing on high-end versions of one product to maintain a competitive edge.
Written by Cassandra Dowell