There’s an old adage that employees tend to leave their managers, not their jobs. That’s especially relevant for the senior living industry, which has grappled with a staffing crisis in recent years, particularly among its frontline workers. And there is evidence it’s not just an old adage, either. A 2015 Gallup study of more than […]
More failing and abandoned malls are being redeveloped for a mix of uses, including senior housing. One group is exploring converting entire shopping malls into sprawling senior housing and care settings, inspired by a pioneering Dutch memory care community. A student design team at Oklahoma State University led by Assistant Professor Dr. Emily Roberts has […]
Pegasus Senior Living has made progress turning around the nearly three dozen former Brookdale Senior Living (NYSE: BKD) properties it took over last year — having grown occupancy and built out leadership teams, the operator is anticipating a wave of CapEx in the year ahead. All of this is aimed at positioning Pegasus to potentially […]
It’s been a big year for Invesque. Since its founding in 2015, the Carmel, Indiana-based firm has amassed a nearly $2 billion portfolio, and made a signature acquisition in 2019 by purchasing the Commonwealth Senior Living operating company and 20 properties. This rapid growth is no accident — Invesque Chairman and CEO Scott White places […]
Robust senior housing acquisition activity is likely to continue into 2020, driven by the continued low interest rate environment as well as the increased focus on middle-market products and the creation of multi-brand portfolios. That middle-market focus is also driving more interest from big players in secondary and tertiary markets, which are friendlier to this […]
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 […]
As senior living companies face intense labor pressures, some organizations are beginning to provide workforce housing for their employees. Doing so is not simple, but providing affordable housing can be a recruitment and retention tool for front-line employees, while adding new rental stock to markets in need, Presbyterian Homes & Services President and CEO Dan […]
It’s been an active year for Watermark Retirement Communities. As the Tucson-based provider has made progress on a strategic growth plan, it has made key hires, including bringing on board a new COO* and recently tapping a wellness leader who previously worked for Canyon Ranch. “It’s been busy, that’s for sure,” COO Karen Mlawsky told […]
Senior living operators are implementing new and innovative practices to address older adults’ rising concerns about dementia, and succeed in a challenging operating environment for memory care. These innovative approaches include Brightview Senior Living’s company-wide Bright Minds wellness initiative; a Montessori-based approach at Acts Retirement-Life Communities; and a unique horticulture focus at a community newly […]
The ongoing, unprecedented wave of investors flocking to senior housing is contributing to a widening disconnect between mission-driven operators and investors pushing for larger, faster returns on their investments. Management fees paid to operators have emerged as one battleground leading to strained relationships and struggling projects. The root of the disconnect is in a lack […]
