After decorating our Christmas tree here at the Senior Housing News office at the end of last week, we got to work bringing you some of the latest happenings in the industry. Readers tuned in to learn about potential restrictions faced by non-traded real estate investment trusts (REITs) under a proposed Department of Labor rule and took note of some critical advice to convert more senior living leads to move-ins. They also discovered why an activist shareholder is urging one of the largest senior living providers to sell the company, while others delved into the outlook on senior housing portfolio deals for the coming year.
Here in the newsroom, we were inspired by a group of knitters from California, The Purlettes + One, whose work appeared on ABC’s entrepreneur competition show, “Shark Tank.”
Future of REITs Threatened by Regulation—Senior housing REITs associated with Griffin Capital, NorthStar Asset Management Group and other organizations could face dramatic new restrictions under a proposed Department of Labor rule, the fate of which could be decided in the near future. Some lawmakers have hinted they may attach a rider to a must-pass budget bill that would essentially block the DOL rule—effectively replacing the fiduciary rule, without the proposed restrictions.
Why Senior Housing Portfolio Sales Could Rally in 2016—Major buyers have been more cautious to invest in large senior housing portfolios due to high prices, raising the question of whether the market has peaked. Some top executives say that it has, and that 2016 could see the completion of bigger deals.
Want to Increase Senior Living Move-Ins? Ask for the Sale—Senior living organizations that are struggling with occupancy often do a great job showing prospects around the community, but then fail to take the crucial last step: asking for the sale. That’s according to Linda Bennett, vice president of operations for Oaks Senior Living, a family-owned company with six communities in the Atlanta area.
Capital Senior Living Pressured to Sell Company—Capital Senior Living (NYSE: CSU) is being publicly pressured by a shareholder to take steps that could lead to the sale of the company, one of the largest senior living providers in the country. An investment management firm with a stake in the company has written a public letter urging CSU’s board of directors to act on opportunities to boost shareholder value, which may include selling to a private equity investor or other strategic acquirer.
7 Actionable Tips to Help You Tackle the Senior Living Discussion—In the midst of the holiday season, gathering with friends and family is commonplace. Jamison Gosselin, vice president of marketing, communications and resident enrichment at Holiday Retirement, wrote this guest blog for The Huffington Post to offer some advice on how to productively talk about senior living with loved ones during get-togethers.
For Your Viewing Pleasure
Marin Knitting Group for Seniors Makes Funding Pitch on ‘Shark Tank’—Last week, a group of knitters from the Redwoods Retirement Community in Mill Valley, California had their work on display for the business tycoons on ABC’s “Shark Tank.” The Pullets + One receives knitting assignments every week from designer Sarah Oliver, who takes the finished products to develop beautiful handbags.
Written by Kourtney Liepelt