In case you missed it, here are the top stories grabbing Senior Housing News readers’ attention this week:
CCRC Settles Legal Backlash for Segregated Dining Room—A continuing care retirement community (CCRC) in Virginia agreed to pay a federal settlement and civil penalty to resolve charges that it discriminated against residents by creating segregated dining rooms for independent living residents versus those in higher levels of care.
Brookdale Looks to Dental, Pharmacy, Finances as New Service Offerings—Brookdale Senior Living (NYSE: BKD) plans to take its ancillary service offerings to the next level, beyond what has traditionally been offered by senior living providers. The company said this week that it has its sights set on someday being able to provide services like dentistry, pharmacy, transportation and even certain financial products to seniors living inside and outside Brookdale community walls.
As Cap Rates Compress, Senior Housing Remains a Seller’s Market—With further cap rate compression appearing to be in store for 2015, sellers of senior housing properties stand to benefit—both from higher pricing on assets and from unwavering investor interest in the sector. Nearly all senior living property types experienced slight cap rate declines, all except for one asset class.
How Senior Living Providers Capture 2 Price Points—Some senior living operators are finding that even though they excel in targeting one particular price point, they are realizing they can capture a higher, more luxurious price market by developing new products that are branded and marketed independently from their existing model.
Dished: Generational Divide Plays Out in Senior Living Dining—Staffing is a major consideration for senior living operators, one that comprises a bulk of resources to not only hire, but to train and retain qualified employees. And dining is no exception, as many providers have recently implemented programs to target and recruit the best and brightest chefs and dining personnel—and they’re having success in hiring from hospitality organizations like hotels and country clubs.
Written by Jason Oliva