The Covid-19 pandemic took a deleterious toll on the senior living industry last year — and average senior housing values dropped as some owners looked to divest. The average price per unit for senior housing communities, which includes assisted living and independent living properties, fell to $196,200 per unit in 2020, representing a 20% decrease […]
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During our recent virtual Sales Summit, Oakmont Senior Living COO Matt Stevenson said something that caught my attention: “When we look in most markets, we’re hovering around 10% to 11% penetration … to fully recover as an industry, we’ve got to get that to 15% levels.” His point was that, with the vaccine rollout enabling […]
McFarlin Group is looking beyond the U.S. for senior housing investors. The Dallas-based fully integrated senior housing firm became a sponsor of Private Wealth Global, an investment platform focused on core-plus and value-add opportunities in the U.S. and Europe, particularly multifamily and health care. The move gives McFarlin access to investors in South America and […]
A federal court ruling last week that the Public Readiness and Emergency Preparedness (PREP) Act grants liability to senior living providers taking measures to protect residents from Covid-19 is seen by industry advocates as a positive sign. It came after months of lobbying Congress for liability immunity from pandemic-related lawsuits. “It is an overwhelmingly positive […]
“Anybody who is in our business who doesn’t see pain out there in the marketplace is in denial.” These are the words of Belmont Village CEO Patricia Will, who last week shared her thoughts on a range of topics during an hour-long appearance on SHN+ TALKS. We are pleased to share the recording and this […]
The recovery of the senior living industry in 2021 hinges in part on pent-up demand — but capturing it will be easier said than done. As a result of the Covid-19 pandemic, move-in rates plunged last year, contributing to historically low occupancy rates across the industry. While the extent of pent-up demand is hard to […]
Diversified Healthcare Trust’s (Nasdaq: DHC) senior housing occupancy fell in the final months of 2020 — but the company’s leaders are heartened by positive trends in vaccinations and new sales leads. Occupancy for the Newton, Massachusetts-based real estate investment trust’s senior housing operating portfolio (SHOP) fell to 70.7% as of Dec. 31. That represents a […]
The arrival of coronavirus vaccines is having a positive impact on customer confidence in senior housing. More than 2.7 million doses of Covid-19 vaccines have been administered to residents in nursing homes, assisted living facilities and other senior living settings as of January 26, according to the latest executive survey insights report conducted by the […]
The Spires at Berry College has a claim to fame, being located on the world’s largest college campus. And the recently opened continuing care retirement community (CCRC) makes the most of its location by integrating seamlessly with its picturesque surroundings and the neighboring school. Laurie Steber could tell that the community was going to be […]
More senior housing owners plan to sell assets in 2021 compared to recent years, which is likely an indication of the steep toll that Covid-19 has taken on the industry. And as smaller players head for the exits, regional operators are expected to step up as buyers. About 600 subscribers responded to Senior Housing News’ […]