Luxury Highrise CCRC The Clare Sold for Reported $105M

A high-profile continuing care retirement community (CCRC) in Chicago that rebounded after financial and operational difficulties years ago has been sold for a reported $105 million. Des Moines, Iowa-based senior living company LCS and Harrison, New York-based Senior Care Development have bought private-equity firm Fundamental Advisors’ 75% stake in the 334-unit community in Chicago’s Gold […]

$150 Million Highrise Project Caps 5-Year Reinvention of Transforming Age

In 2014, Presbyterian Retirement Communities Northwest (PRCN) was a small and struggling provider with three communities in the Seattle area. Fast-forward to the present day, and the organization has rebranded as Transforming Age, serves about 10 times as many seniors, and is pursuing further innovation and expansion — including through the $150 million Olympic Tower […]

Residential Real Estate Values Complicate Life Plan Communities’ Stable Outlook

Non-profit life plan communities can expect another year of stability in 2020, but there are some factors that could complicate the landscape in the future. That’s according to a new report from Fitch Ratings, which on Wednesday released its annual outlook for U.S. not-for-profit life plan communities. As in previous years, those communities should expect […]

Buckner Opens $240M CCRC with High-Profile Partnerships, To Sell Historic Campus

Last week marked the official grand opening of Ventana by Buckner, a $240 million high-rise continuing care retirement community (CCRC) in Dallas. Ventana is part of a crop of urban CCRCs rising across the country, and it stands out for the numerous partnerships that it has forged with high-profile organizations in its local market, including […]

Older Senior Housing Properties Show Strong Occupancy But Investments Needed

Conventional wisdom states that consumers are attracted to shiny new senior housing product that has flooded certain markets in recent years, putting older properties at a disadvantage and eroding their occupancy. This is not necessarily the case, as statistics show that top-performing senior housing properties tend to be between 10 and 17 years old. However, […]

Senior Living Nonprofits Quietly Collaborate In Under-the-Radar Group

Non-profit senior living providers across the U.S. have in recent years looked to mergers and affiliations as a way to gain scale and thrive in the face of industry headwinds. But some of these arrangements also come with a price: In order to join forces, at least one party needs to give up some degree […]

Engel Burman Eyes New Markets for ‘Look-Alike CCRC’ Model

The Engel Burman Group has developed a successful portfolio of senior housing on Long Island since the company entered the space in 1997. Now it wants to bring its version of the continuing care retirement community (CCRC) to new markets, and is testing out potential future treatments for dementia in its existing communities. “We haven’t […]

Intergenerational Designs Replace ‘Aging-in-Place’ Vibe at CCRCs

Baby boomers are bringing a new set of expectations to senior living, and architects and designers of CCRCs are heeding the call. It’s no secret the boomers will want to maintain their current lifestyles, especially as they move into the active adult or independent living wings of sprawling continuing care retirement communities (CCRCs). And they […]

CCRC Margins Decline, Long-Term Outlook Remains Stable

Liquidity metrics and net operating margins at U.S. continuing care retirement communities dipped in 2018, driven by an increase in capital spending and a volatile equity market, according to a new report from Fitch Ratings. Median core operating performance decreased to 5.9% in 2018, compared to 7.2% the previous year. Net operating margins, meanwhile, dropped […]