This week, Senior Housing News Readers learned about the new name for continuing care retirement communities (CCRCs) and delved into Brookdale Senior Living’s (NYSE: BKD) latest executive board appointments. Readers were also introduced to a new senior housing developer and discovered how asset prices have Welltower Inc. (NYSE: HCN) holding off on major deals. Here in the newsroom, we’re smitten with a few bunnies that provide therapy to residents at Wallingford Senior Center’s Memory Care in Wallingford, Connecticut.
Is the New Name for CCRCs a Winner?—From here on out, CCRCs may be called “Life Plan Communities”—or not. The new term emerged out of a lengthy process spearheaded by LeadingAge and Mather LifeWays, which reveals shortcomings in the “CCRC” terminology. Still, even leaders of the project admit there’s no telling whether the newly proposed alternative will have staying power.
Brookdale Taps Walmart Exec to be COO—In its quest to get through a turbulent period, Brookdale has enlisted someone from the nation’s largest retailer. Labeed Diab will be the new chief operating officer after serving as president of health and wellness at Walmart’s U.S. division. The major senior living provider also named Lucinda Baier as chief financial officer following her time as executive vice president and CFO of Navigant Consulting, Inc., a specialized global expert services firm.
New Senior Housing Developer Aims to Be Prime-Time Player—Chance played a role in bringing Douglas Wilson Companies into the senior living development business, but the firm is not banking on good luck and favorable demographics alone to succeed. The 26-year-old company has partnered with provider Milestone Retirement Communities LLC, a company with a footprint throughout the West and Southwest, as well as one community in Virginia.
‘Crazy Prices’ Keep Welltower Sidelined on Deals—Earnings for Welltower for the third quarter reflect record-high funds from operations (FFO) and funds available for distribution (FAD), but soaring asset prices and fluctuating cap rates have the real estate investment trust holding off on major deals.
Bunnies Provide Therapy to Wallingford Seniors—We’ve seen dogs making the rounds at senior living communities to interact with residents, but bunnies? At the Wallingford Senior Center’s Memory Lane program, a dozen seniors had the opportunity to play with two baby rabbits. The owner of the bunnies said the animals are not only comforting, but they can prompt memories of a resident’s childhood or previous pets.
Photo by Dave Zajac / Record-Journal
Written by Kourtney Liepelt