The pandemic’s challenges have pushed many non-profit senior living operators to consider joining forces. The latest example of that trend is occurring in New Jersey, where four communities are coming together as one. The communities, Fellowship Village in Basking Ridge, Friends Village in Woodstown, House of the Good Shepherd in Hackettstown and Pines Village in […]
Category: Non-Profit
Last year was the most active year on record for community “transitions” in the non-profit senior living sector, with nearly 110 communities changing hands across more than 70 deals in 2022. That’s according to a report by the Chicago-based specialty investment bank Ziegler. Transitioned communities are communities that changed hands in some way, such as […]
Just under a third of non-profit senior housing units belonged to a top-10 largest operator in 2021 as the sector continued to diversify and evolve. That’s according to the latest and 19th LeadingAge Ziegler 200, released Thursday. The yearly report ranks the largest senior living non-profits in the U.S. and identifies trends in the space. […]
With the creation of a new affordable housing arm and a handful of other notable developments in 2022, it has been a big year for Transforming Age. But the senior living nonprofit is not done evolving. Earlier this month, the organization added 10 new locations formerly managed by Essex Corp. and announced it’s opening a […]
A majority of non-profit senior living operators are sticking to their growth plans, even as workforce shortages and construction pressures continue to make doing so complicated. According to Ziegler’s CFO Hotline report for August, 58% of non-profit senior living operators say they are moving forward with their growth pipelines as planned this year. The report, […]
A not-for-profit senior living operator with three communities in the Dallas area has filed for Chapter 11 bankruptcy after challenges exacerbated by the Covid-19 pandemic, with a stalking horse bidder already lined up for a bankruptcy sale. The operator, Christian Care Communities & Services (CCC&S), has three communities in the Dallas/Fort Worth area totaling 760 […]
Senior living nonprofit Transforming Age has unveiled a new affordable housing arm and brand called “Circ.” The newly created brand — which Bellevue, Washington-based Transforming Age formats as CIRC — is an amalgam of Sustainable Housing for Ageless Generations (SHAG), which affiliated with Transforming Age in 2021; and two other Transforming Age-affiliated entities: Community Life […]
Amid short-term headwinds that are threatening occupancy rates and driving up expenses, monthly fees for independent living residents in not-for-profit communities have reached historic levels in 2022. Some not-for-profit operators are even contemplating more rate hikes in the midpoint of this year. That’s according to a report published by Chicago-based speciality investment bank Ziegler. The […]
Senior living providers are facing intense operational and financial challenges — but they must not let these pressures distract them from innovating for the future. That’s according to Jill Vitale-Aussem, president and CEO of Christian Living Communities (CLC) and Cappella Management. “We’re concerned about staffing, we’re concerned about wage escalation, we’re concerned about inflation,” she […]
Three faith-based senior living nonprofits based in Pennsylvania are joining forces to create a new organization with a combined $140 million in annual revenue. The organizations — Allegheny Lutheran Social Ministries, Liberty Lutheran Services and Garden Spot Communities — will operate under the “Ilumin” banner when the affiliation takes effect. The combined organization expects to […]
Subscribe
Receive industry updates and breaking news from SHN