Five Star’s Sales Leads Drop 50% in April, More Deterioration Expected

As with other publicly traded operators, Five Star Senior Living (Nasdaq: FVE) did not escape the first quarter of 2019 unscathed by the coronavirus pandemic. Five Star entered 2020 with 82 newly hired executive directors and a new operational agreement with its primary landlord, Diversified Healthcare Trust (Nasdaq: DHC), and both companies were focused on […]

Senior Housing Sales Inquiries Down 41% in April, But Good Signs for Independent Living

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 […]

About 50% of Healthpeak Senior Housing Communities Not Taking Move-Ins

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 […]

NKF’s Lavender: April Saw $300M-Plus in Senior Housing Deals, Capital Markets Firming Up

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 […]

HMC Raises $510 Million For Senior Housing Fund

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 […]

After Covid-19 Forces Community Closure, CEO Reaffirms Transforming Age’s Strategic Direction

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 […]

GenCare CEO: Covid-19 Could Ease Workforce Shortage, Lessen ‘Pay to Play’ Wage Pressure

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 […]