Real estate investment and development firm MedCore Partners has acquired a seven-property senior living portfolio operated by Senior Services of America (SSA), and has ambitions to do similar value-add, middle-market deals going forward. The 582-unit portfolio consists of five properties in Washington state and two in California, offering a mix of independent living, assisted living […]
The average occupancy rate for senior housing properties fell to 84.9% as the industry was in the grip of Covid-19 in the second quarter of 2020. That was a 2.8 percentage point decline from the first quarter, representing the sharpest quarterly decline since the National Investment Center for Seniors Housing & Care (NIC) began tracking […]
Senior living providers — like many businesses across the United States — have been responding to the Black Lives Matter movement with a variety of messages and actions. To get a sense of how providers are responding, I spoke with several CEOs and corresponded with many of the largest for-profit and nonprofit organizations in the […]
Many senior living providers say they stand with the Black Lives Matter movement, recognize the need to address systemic racism and are committed to increasing diversity, inclusion and justice within their companies. But having the fortitude to keep pursuing such daunting goals over a period of many years is a serious challenge. Senior living organizations […]
Many developers, builders and other real estate professionals believe that senior housing has not yet hit a bottom due to Covid-19. That’s according to findings from the mid-year market sentiment survey from RCLCO Real Estate Advisors. About 22% of respondents said that they believe senior housing — including independent living, assisted living and memory care […]
When interviewing for a job with Solera Senior Living earlier this year, Janale Flores went to the coworking space near Denver where the company’s corporate team was based. She got the job, but she never returned to that office space, due to Covid-19. “My first day was actually at home,” Flores told Senior Housing News. […]
Editor’s Note: Interested in the active adult market? Check out SHN’s Active Adult Virtual Summit, taking place July 15-17. Click here to learn more and register. Construction recently wrapped on Avenida Naperville, a 146-unit active adult community near Chicago. This is just one project in a robust pipeline from Newport Beach, California-based developer Avenida — and Managing […]
Brian Beckwith is moving on from Formation Capital after serving as CEO of the Atlanta-based private equity firm for nearly a decade. Formation specializes in senior housing and care investments. The firm has sponsored about $2 billion of equity across senior living, skilled nursing and other post-acute services since it was founded in 1999. Formation […]
Senior Housing News recognizes the seriousness of the Covid-19 pandemic, so we will be updating this bulletin to keep you apprised of the latest developments, focusing on news and information that we identify as especially pertinent to senior living. The team at SHN knows how important your work is right now; we thank you and […]
Senior housing in the United States has been hit hard by Covid-19, but one of the largest global real estate investing firms has singled out the sector as a prime opportunity. However, the pandemic complicates a business that already had a high degree of operating complexity, and success will now be even more dependent on […]