This week on Senior Housing News, readers learned how Chicago-based Ventas Inc. (NYSE: VTR) is handling oversupply challenges and discovered the latest Griffin-American real estate investment trust (REIT) as it launched a $3.15 billion initial public offering. Readers also delved into the project that won 2015 Best Repositioning in the SHN Design Awards, and found out that James F. Flaherty III resigned as vice chairman and board member of NorthStar Healthcare Income.
Here in the newsroom, we eagerly watched as residents at Hillcrest Mable Rose, an assisted living facility in Omaha, Nebraska, picked the best burger in town.
Ventas Preps to Meet Oversupply Challenges—Long-held fears of oversupply in some senior housing markets may be coming to pass, and one of the largest senior housing REITs is marshaling its forces to meet the challenge in 2016. Ventas last week released its quarterly earnings from the final three months of 2015, revealing that new supply is likely going to impact its senior housing operating portfolio and is already starting to have an effect.
Newest Griffin-American REIT Launches $3.15 Billion Initial Offering—A new REIT with a familiar name is making its way into the senior housing scene, getting the go-ahead for a $3.15 billion initial public offering. Griffin-American Healthcare REIT IV, Inc. is the latest entity from one of the largest public non-traded REIT sponsors.
Best Repositioning 2015: An Intimate ‘Boutique’ CCRC—Nestled among high-end homes on a quiet, residential street in Los Altos, California, you’ll find The Terraces at Los Altos, a continuing care retirement community (CCRC) that used to look more institutional, like a hotel, with white siding and outdated buildings. Now, it has a California craftsman exterior and more closely embodies other homes in the neighborhood, propelling it to win the 2015 Best Repositioning honors in the SHN Design Awards.
Flaherty Resigns from NorthStar Healthcare Board—James F. Flaherty III has resigned as vice chairman and board member of NorthStar Healthcare Income, dramatically scaling back his involvement in the REIT he initially joined as president and CEO two years ago. Flaherty’s resignation was effective immediately as of Feb. 9, according to public records.
Boomers’ Return to Urbanism—Millennials and baby boomers are competing for urban accommodations, prompting senior living providers to reconsider the way they think about new development and entry into different markets.
Aging Southeast: Finding a Home in Assisted Living, If There’s Space—Southeast Alaska is experiencing a shortage of assisted living communities. In fact, a recent market study on Juneau senior housing indicated that the city needs 327 more assisted living beds over the next 30 years to meet projected demand.
Firefighters Heat Things Up at ALF—Firefighters with the North County Fire and Medical District brought flowers to more than 50 female residents at the Brookdale Sun City West Sandridge community in Sun City West, Arizona, to celebrate Valentine’s Day. As one might imagine, the women were thrilled.
For Your Viewing Pleasure
Assisted Living Group Picks Best Burger in Omaha—Residents at Hillcrest Mable Rose, an assisted living facility in Omaha, Nebraska, visited several burger joints before handing the trophy for the best burger in Omaha to Louie M’s. Residents plan to select the best pizza next month.
Written by Kourtney Liepelt