Compared to April 2019, consumer inquiries into senior living communities decreased 41% last month, and move-ins were down 22%. That’s according to data from more than 2,200 communities, compiled and analyzed by Enquire, a company that offers customer relationship management, marketing automation and contact center solutions to the industry. The numbers help quantify the stark […]
Category: Covid-19
Brookdale Senior Living (NYSE: BKD) was making good progress in the beginning of this year — until Covid-19 threw icy cold water on the industry. As it heads into the second quarter of 2020, the nation’s largest senior living operator now has focused its efforts on supporting its residents and workers while slowing the spread […]
Healthpeak Properties’ (NYSE: PEAK) announced in February that its senior housing portfolio was in “recovery” after two years of restructuring assets and operators. Then the coronavirus pandemic swept across the U.S., and Healthpeak CEO Tom Herzog did not mince words about its effect on the Irvine, California-based health care real estate trust. “Of all of […]
Senior housing capital markets are settling down, with many lenders returning to the space, weeks after the coronavirus pandemic sent them scurrying to the sidelines. Meanwhile, equity investors are sitting on billions and are viewing senior housing favorably. Deals are still being completed, albeit with a bit more due diligence and less leverage than before […]
Alternative asset management firm Harbert Management Corporation (HMC) has announced the final close of a fund that secured approximately $510 million worth of equity commitments to target the U.S. senior housing industry. HMC’s Harbert Seniors Housing Fund II has to date closed eight transactions, three of which were joint venture development projects. The investments ultimately […]
Covid-19 has caused a slowdown in senior housing construction across the country, and will delay one of the largest projects underway: the Manhattan highrise that will launch Maplewood Senior Living’s Inspir brand. Initially scheduled to open at the end of Q1 2020, Inspir Carnegie Hill now is on track to open in the third quarter […]
LTC Properties (NYSE: LTC) gave partial rent deferrals to six of its tenants in April as the Covid-19 pandemic dragged down occupancy and drove up expenses across the board. The deferrals amounted to $772,000, or about 7% of the total rent the company expected to collect in April. The picture has improved somewhat in the […]
In mid-April, Transforming Age evacuated an assisted living community near Minneapolis due to a Covid-19 outbreak. Last week, the provider announced that the building, Meridian Manor, will not reopen. Other closures are “absolutely” likely to become more commonplace in the senior living industry as Covid-19 testing becomes more widespread, Transforming Age President and CEO Torsten […]
As senior living providers pay higher hourly wages, bonuses and other incentives to frontline staff responding to Covid-19, some industry leaders believe that this is setting a new wage baseline that will remain once the pandemic subsides. However, GenCare Lifestyle founder and CEO Leon Grundstein is not so sure — the massive unemployment caused by […]
Senior care providers across the country are offering hourly wage increases, overtime pay and other incentives to encourage front line employees to continue providing care to residents during the coronavirus pandemic. In the process, this may be establishing a new wage baseline, Kendal Corporation President and CEO Sean Kelly told Senior Housing News. Senior living […]
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