For the senior living industry, the incoming Biden administration and Democratic control of Congress means new opportunities for advocacy and education — and potentially some pitfalls in the form of new and tighter regulations. The presidential election and the Georgia Senate races have resulted in the Democrats taking the White House and narrow control of […]
Category: Management
Covid-19 will continue to drag on senior housing operations and net operating income (NOI) until vaccines are widely distributed, and NOI is expected to reach new lows in mid-2021. From there, demographic trends will result in a gradual rebound in NOI, but low supply barriers will limit growth upside, and NOI is not expected to […]
Although Covid-19 made the process longer and more complicated than anticipated, a new senior living operator — Prosper Life Care — has now acquired its first two communities. Both communities are located in Massachusetts and were previously owned and operated by Landmark Senior Living, which is exiting the sector to focus on addiction treatment. Landmark […]
Senior living providers in the Northeast U.S. ran into significant challenges as Covid-19 spiked last spring, and Benchmark was no exception. The Waltham, Massachusetts-based senior living provider is currently working its way back to more stable operations, according to Benchmark Founder and CEO Tom Grape. The effort is evident in two news announcements this week. […]
Occupancy continued to slide for Brookdale Senior Living (NYSE: BKD) as 2020 came to an end, with both weighted average occupancy and month-end occupancy sitting at 71.5% in December. However, the new year brought better news for the nation’s largest senior living provider, with about 90% of its communities having completed or scheduled an initial […]
After two decades of leading Capital Senior Living (NYSE: CSU), Larry Cohen left the company in 2018 — and spent the next two years preparing for his next venture in the industry. “I left Capital always intending to come back,” Cohen told Senior Housing News. But first, he took the opportunity to again become a […]
Atria Senior Living is making the Covid-19 vaccine a requirement for its employees. The Louisville, Kentucky-based senior living provider announced on Monday its more than 10,000 U.S. workers must get both doses of the Covid-19 vaccine by May 1. Atria’s vaccine mandate is unique among large senior living providers in the U.S., many of which […]
A team of senior living veterans including former Capital Senior Living (NYSE: CSU) CEO Larry Cohen is launching a new operating company, Trustwell Living. Cohen is starting Trustwell Living with three of his colleagues from Capital Senior Living, according to a press release issued this morning. Cohen led Dallas-based Capital as CEO and vice chairman […]
Papa, a service that provides on-demand companionship to older adults, now has gone nationwide and launched a new Papa Health service. Having raised a total of $31 million in venture capital, the startup is eyeing ways to work with senior living providers as it continues to expand. Founded in 2017, Papa provides on-demand assistance and […]
Capital Senior Living (NYSE: CSU) has completed the previously announced exit from its triple-net leases and is now entering the growth stage of its turnaround effort, with a new management services business as one platform for expansion. The Dallas-based provider had transitioned 23 formerly leased communities to other operators as of Dec. 31, 2020, according […]