With a pandemic, staffing woes and operational headwinds serving as the backdrop, the senior living industry has spent the last two years lurching from one crisis to another. In 2023, that must end. That is the belief of HumanGood CEO John Cochrane. As he surveys the industry, Cochrane still sees plenty of operational areas requiring […]
Senior living is at an important crossroads at the dawn of 2023. The new year will surely bring new and important opportunities for operators to grow beyond pre-pandemic results. But elevated expenses and staffing are fixed challenges that are not going away with the new year. To LCS CEO Joel Nelson, 2023 is a time […]
Each passing year brings closer the huge demand wave for senior living. And as 2023 begins, providers are more focused than ever on the next generation of consumers — but also are struggling to find ways to evolve the product as needed. The struggle is due to economic turmoil and uncertainty, with tight labor markets, […]
Welltower (NYSE: WELL) has announced the “initial” closing of its previously announced joint venture with Integra Health involving the transition of 147 skilled nursing facilities previously operated by ProMedica to 15 regional operators. ProMedica surrendered to Welltower its 15% interest in the 147-property portfolio, Welltower announced Friday. ProMedica will be absolved from its lease obligations […]
Bill Pettit, a senior living veteran, is branching out with his son to found a new senior housing consulting and investment firm known as Black Dog Capital Advisors. Pettit believes that senior living opportunities are more plentiful than ever, with “more money and profitable returns to capital in the next 5 to 10 years than […]
Lifespace Communities is lending “unprecedented support” to its troubled Edgemere community in Dallas as the property shifts to a rental payment structure for residents. The Des Moines-based senior living operator has put forth a bid to support the embattled property ahead of a potential sale by agreeing to fund up to $143.4 million of the […]
Senior living operators have radically changed the way they operate over the last few years. Looking ahead, it’s clear there are more changes to come as the industry sits at a crossroads between recovery and stagnation. The shift in the industry since the height of the pandemic has created a multitude of opportunities and challenges. […]
Front Porch Communities and Services has named Sean Kelly to the role of CEO. Kelly, currently the president and CEO of Kendal Corp., is slated to join the Glendale, California-based organization on March 6, 2023. He is succeeding the company’s current CEO, John Woodward, who is retiring after more than seven years in the role. […]
Brookdale Senior Living (NYSE: BKD) is holding steady with regard to occupancy ahead of a potential census and resident rate growth “supercycle” in 2023. The nation’s largest senior housing provider recently reported an occupancy rate of 78.1% as of the end of November, representing a slight dip in occupancy since the end of September, when […]
In the senior living industry, size is not a guarantee of success. But for the nation’s largest communities, that scale has been a source of operational stability during the last almost three years. Many of the largest senior living communities — all CCRCs or life plan communities — leaned on their size to weather operational […]
