HCP’s CIO Steps Down; CEO Steers Battleship Into Unchartered Seas—Paul Gallagher has stepped down, and now HCP could replace the former chief investment officer with multiple new positions, CEO Lauralee Martin suggested in an interview with Forbes contributor Brad Thomas. And, Thomas writes: “… HCP could be setting itself up for a similar spin [as Ventas] with dedicated investment teams in each sector.”
Will the Fed’s Rate Hike Kill REITs?—Conventional wisdom has it that the Federal Reserve will hike interest rates later this year, and this will “take a wrecking ball to REIT prices,” writes Charles Lewis Sizemore, founder and principal of Sizemore Capital Management LLC. But a look at history paints a more complicated picture of how real estate investment trusts have fared in periods of Fed tightening.
Transportation is Top Need for Seniors Calling for Help—About 20% of calls to the national Eldercare Center last year were from seniors needing transportation, mainly to medical appointments. Showing the growing need for senior services, the Center received 270,000 calls in 2014, a 25% from two years prior.
Justice Department Takes Down Barriers in Retirement Homes—Senior living providers should be on notice: It is not reasonable to confine residents to particular parts of a facility based on care needs, and in fact it is illegal. So write Paula Span in her New York Times column, focusing on the recent $300,000 Harbor’s Edge settlement with the feds over such a policy.
Senior Living Developers Target Customization for Boomers—Espresso cabinetry or maple? This is just one of many decisions that residents now can make to customize their home in a senior living community, as providers compete for Baby Boomers.
Written by Tim Mullaney