Earlier this year, the lofty price of new construction drove many senior living companies to shift their growth strategies in favor of acquisitions. Not Westmont Living. With all but two of its 17 communities in California, Westmont’s acquisition targets are limited due to that state’s higher barriers to entry. But thanks to an in-house construction […]
With a recently announced development joint venture with Welltower (NYSE: WELL) and a strong occupancy recovery underway, Kisco Senior Living Founder and CEO Andy Kohlberg is bullish about the future. “We’ve averaged three-and-a-half times the number of net move-ins in 2021 than we did in 2019 … It’s gone surprisingly well,” Kohlberg said during a […]
Five Star Senior Living (NYSE: FVE) is collaborating with DispatchHealth in an effort to provide acute care for residents living in Five Star communities. Under the partnership, DispatchHealth workers will provide same-day aid to residents living in independent living, assisted living and memory care. Services include treatment for infections; asthma attacks; wounds, bed sores and […]
Senior living industry association Argentum is calling out the Biden Administration’s plan for determining Covid relief payments for assisted living communities. The association on Wednesday took aim at the methodology for Provider Relief Fund (PRF) Phase 4 payments from the Health Resources and Services Administration, which is an agency of the Department of Health and […]
Nearly 80% of respondents to a recent seniors housing industry survey reported that caregivers and hourly employees face critical levels of burnout and another 80% said that staffing shortages are the biggest issue they face. OnShift, a Cleveland-based human management software company, revealed the results of its third annual Workforce 360 Survey earlier this month. […]
Financings Greystone closes on largest health care CLO Greystone announced it closed on a $450 million commercial real estate collateralized loan obligation (CLO), besting its own benchmark of $300 million set back in 2018. Like the CLO in 2018, this CLO is backed exclusively by bridge loans for health care projects, according to a statement […]
As 2021 comes to a close, four hotly anticipated new senior living communities are opening their doors for the first time: — Sunrise at East 56th, in Manhattan — MorningStar at River Oaks, in Houston — Modena Reserve at Kensington, near D.C. — Trulee Evanston, near Chicago These communities exemplify several trends in luxury senior […]
The Department of Health and Human Services (HHS) on Tuesday announced the release of $9 billion in Phase 4 Provider Relief Fund payments to health care providers, including assisted living operators. Payments will start to be made later this week to nearly 70,000 providers, according to HHS. The average payment will be $58,000 for small […]
The middle-market is a growing senior living sector, and operators are spending considerable time and resources nailing down a scalable model. It’s a particular focus for Arrow Senior Living CEO Stephanie Harris. Arrow’s middle-market communities have been able to hit margins even greater than the typical 30% to 40% seen in the senior living industry. […]
In the past, too many senior living providers put off addressing workforce challenges while preoccupied by the quest to achieve stabilized occupancy. That’s according to Vitality Living CEO Chris Guay, who believes that providers now have no choice but to work on both issues simultaneously, given the labor crisis occurring while companies need to recover […]
