With the need for innovation gaining urgency, senior living owners and operators should throw out the playbook and the whiteboard. That’s according to Scott White, CEO of real estate investment firm and Commonwealth Senior Living owner Invesque (IVQ.TO). “Don’t even start with the whiteboard, start with just looking up at the sky and dreaming and […]
Commonwealth Senior Living
How Commonwealth, Eskaton, Goodwin House Got Creative to Engage and Retain Staff During Labor Crisis
Facing historic labor pressures, some senior living operators are turning their focus on improving working conditions as a way to recruit and retain workers. A recent survey by the National Investment Center for Seniors Housing & Care (NIC) showed that attracting and retaining staff is the most significant challenge operators face in 2022. In the […]
Invesque (TSE: IVQ.U) has taken further steps toward accomplishing its long-term portfolio plan of shifting toward private-pay senior living and away from skilled nursing. Approximately 35% of its current pro forma net operating income (NOI) comes from skilled nursing, executives with Invesque said Thursday on the company’s Q3 2021 earnings call. That’s a drop from […]
The ongoing workforce crisis has been among the hottest topics at this week’s National Investment for Seniors Housing & Care (NIC) conference, and attention will be fixed on labor-related numbers when the largest publicly traded senior living owners and operators announce their Q3 2021 earnings later this week. While these earnings calls will provide some […]
In September, Commonwealth Senior Living recorded its sixth straight month of relatively steady occupancy growth. That trend continued into October, culminating in a new monthly record for move-ins. All told, the Charlottesville, Virginia-based provider has added about 5.5% of occupancy since its pandemic lows earlier this year in March. With occupancy recovery at hand, CEO […]
Heading into the final three months of 2021, senior living providers, investors and developers face multiple perils. Occupancy gains have slowed in recent weeks while a labor crisis is worsening, and supply chain disruption continues to drive up construction costs. However, compared to where the industry was a year ago, the view in 2021 appears […]
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Coming into 2021, many senior living providers hoped that the pandemic had created substantial pent-up demand, which would lead to a rapid occupancy rebound once vaccinations reached critical mass. Over the last two weeks, Q1 financial reports showed positive occupancy trends, but the census gains might not be due to pent-up demand — a topic […]
Invesque (TSX: IVQ.U) CEO Scott White believes that occupancy and net operating income for his company’s senior housing operating partners will experience a quick rebound, paced by pent-up demand for senior living. As evidence, he points to Commonwealth Senior Living, Invesque’s affiliated operator with 33 communities across four states, which recorded the highest number of […]
Scott White, CEO of Invesque (TSE: IVQ.U), on Thursday added his voice to the chorus of senior living leaders expressing optimism about a recovery taking hold in the sector — but with a dose of caution. White feels a sense of “rejuvenation” and “excitement” from the Invesque team and the real estate investment firm’s operating […]
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