Covid-19 has made “density” a dirty word in real estate, and senior living developers are taking heed. Some data indicate an exodus is occurring from the most densely populated urban centers in the United States, in part because people are wary of coronavirus outbreaks like the one that beleaguered New York City in the early […]
The issues faced by LTC Properties (NYSE: LTC) on a lease with an affiliate of Senior Lifestyle Corp. in the second quarter of 2020 may be a sign of things to come among other real estate investment trusts in the senior living industry, especially if occupancy deteriorates further in the months ahead. Westlake Village, California-based […]
Covid-19 disrupted capital market activity for senior living providers of all kinds, including nonprofit continuing care retirement communities (CCRCs). However, this summer has marked a shift, with multiple large financing deals being completed — a testament to greater confidence in bond market investors, and a reflection of CCRCs’ ability to withstand pandemic pressures. The coronavirus […]
In the midst of the ongoing Covid-19 crisis, I imagine that few senior living executives paid much attention to recent news that Oak Street Health filed for an initial public offering (IPO). But, senior living leaders should consider the role that Oak Street and similar businesses could play in driving more affordable, better care for […]
In early March, five residents moved out of Rose Haven Assisted Living, a 28-bed assisted living facility in Merrimack, New Hampshire, right before the coronavirus pandemic swept across the U.S. The family-owned and operated facility already operated under tight margins. The loss of these residents — which were among the highest billed in Rose Haven’s […]
Senior living providers have grappled with many hardships due to Covid-19, but since the first state lockdown orders went out in mid-March, they have also amassed a wealth of knowledge around fighting the deadly disease. Today, many of them feel more confident that they can keep the disease out of their communities, or at least […]
Senior living can draw inspiration from other industries for ways to move forward during the coronavirus pandemic — with professional sports leagues among the organizations to keep an eye on. All of the major sports leagues in the United States are attempting to start or finish their seasons in the wake of the crisis, with […]
Ventas (NYSE: VTR) and Brookdale Senior Living (NYSE: BKD) announced a revised master lease agreement Monday in which Brentwood, Tennessee-based operator Brookdale receives up to $500 million in rent reduction over the next five years. Ventas, a Chicago-based real estate investment trust (REIT), gains a potential equity stake in Brookdale. This agreement is designed to […]
Prominent figures in senior living development and operations see a growing opportunity for hotel conversions, including in the highly competitive New York City market. “I think … looking to buy defaulted hotel notes and turning hotels into CCRCs will clearly come to the Upper West Side, the East Side, and into Manhattan,” Senior Care Development […]
As a result of Covid-19, some senior living providers are shifting their operational model from one that primarily emphasizes hospitality and socialization to one that focuses on high-quality clinical care. This shift could be a watershed moment for the industry, which has long debated whether the private-pay senior living product is — and should be […]
