The federal government on Wednesday announced that it is expanding the third phase of Covid-19 relief for health care providers, including assisted living. The Department of Health and Human Services (HHS) is boosting its Phase 3 funding total from $20 billion to $24 billion, after concluding that the initial amount did not sufficiently cover lost […]
Opening a new senior housing community is stressful under normal circumstances. Opening one during a public health crisis presents added challenges. Take Sequoia Living, which opened Viamonte at Walnut Creek, a continuing care retirement community in Walnut Creek, California, two weeks ago. The San Francisco-based owner and operator lost 31% of its entrance fee deposits […]
Faced with ongoing financial pressures exacerbated by Covid-19, Brookdale Senior Living (NYSE: BKD) reportedly is considering divesting its home health and hospice segments in order to shore up its liquidity. The Brentwood, Tennessee-based senior living provider is in early discussions about a possible sale, and is being provided with sell-side advice from Bank of America, […]
Occupancy and expense pressures related to Covid-19 will continue to adversely affect senior housing investment in the coming year, and are even tempering refinancing opportunities. And the pandemic will force more smaller owners and operators to exit the sector, frustrated by the operational intensiveness of the product type, compressed net operating income (NOI) and tighter […]
Since the early days of the pandemic, some senior living industry leaders have expressed optimism that Covid-19 is creating pent-up demand that will break through once coronavirus vaccines are distributed and the public health crisis comes under control. But as a vaccine appears imminent, the evidence and outlook on pent-up demand is mixed, with some […]
The resilience of independent living during Covid-19, coupled with a stronger-than-expected market for residential home sales, will contribute to a stable outlook for life plan communities in 2021. That’s according to a report released Wednesday from Fitch Ratings. The credit rating agency also cited favorable demographic trends and good access to capital markets as contributing […]
Ohio Living has a window of opportunity to increase revenues via Medicare Advantage in 2021. In fact, capturing more dollars via MA is a linchpin in the Columbus, Ohio-based nonprofit provider’s “revenue reform and recovery” strategy, CEO Larry Gumina told Senior Housing News. Ohio Living is a partner in the Perennial Consortium, an operator-owned MA […]
Sales and operator transitions Capital Senior Living completes $18M sale of Ohio community Capital Senior Living (NYSE: CSU) completed the sale of a senior living community in Canton, Ohio. The sale price was $18 million, and provided $6.4 million in net cash proceeds to the operator. Additionally, Capital Senior Living was retained by the new […]
Senior housing occupancy will not begin to rebound until at least mid-2021 as seniors continue to postpone move-ins until Covid-19 is under control. That is one of the main findings of a new survey on senior housing sentiment released by Scotiabank (NYSE: BNS). The results of the survey caused the financial services firm to take […]
The rise of hipsturbias — first-ring suburbs of metro areas attracting mixed-use development and fostering intergenerational living — was a top real estate trend heading into 2020. these areas have been disrupted by Covid-19, but their future still appears bright, including for senior living development. Positive demographic trends and a favorable market for housing sales […]
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