This week, the heat was turning up in our home base of Chicago, but we kept it cool by bringing our readers the latest in the senior housing industry. We reported the most recent data from the National Investment Centers for Seniors Housing & Care (NIC), which revealed some less-than-favorable statistics on occupancy during the second quarter of 2016. Real estate investment trust (REIT) Ventas Inc. (NYSE: VTR) also made a splash this week with its announcement of a $1.5 billion portfolio acquisition.
Here in the newsroom, we tuned in to watch Phyllis Guthrie go sky-diving for her 92nd birthday.
NIC: Occupancy Trouble Brewing for Independent Living—Senior housing occupancy worsened in the second quarter of the year, with independent living trends in particular raising red flags, according to the latest information from NIC. Occupancy for the senior housing sector—including assisted living and independent living—declined to 89.7% for the second quarter of 2016, according to the data released Wednesday.
Ventas Inks $1.5 Billion Acquisition to Enter New Real Estate Sector—Ventas Inc., one of the premier owners of senior housing properties nationwide, is continuing to diversify by acquiring a portfolio of life science and medical real estate assets for $1.5 billion in cash. The 25-property portfolio includes nearly all the life science and medical real estate assets of Wexford Science & Technology LLC. “We believe the growth opportunity is significant, and look forward to working with Wexford to help leading universities, academic medical centers and research companies fulfill their core mission,” Ventas CEO and Chairman Debra A. Cafaro said in a statement.
Innovators Blur the Line Between Hotels and Senior Housing—Innovative senior housing ideas are plentiful—but there are several opportunities for improvement, and industry leaders are still looking toward the hospitality industry for answers, according to a report summarizing the first-ever Cornell Institute for Healthy Futures (CIHF) roundtable. Though the senior living industry is arguably becoming more health care-focused, the hospitality industry is still a major influencer when it comes to senior housing design, amenities and feel, attendees of the roundtable agreed.
Around the Web
Here’s How Ventas’ CEO Has Evolved Over 17 Years—Ventas Inc. CEO and Chairman Debra Cafaro explains her biggest leadership challenges in an interview with Fortune.
Another Challenge for Retirees: Finding Friends—Retirees living independently may find it challenging to make new connections and find new friends. Engaging with the community is the answer, a columnist answers in a Washington Post article that answers several retirement questions.
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‘I’m Not Afraid’: For Her 92nd Birthday, Great-Grandmother Leaps from a Plane—At 92, Phyllis Guthrie took off on her birthday to sky-dive in her sensible orthopedic shoes. “If George Bush can do it, then so can I,” the mother of four children, grandmother of five and great-grandmother of 10 said of the experience.
Written by Amy Baxter