For-profit New York nursing homes will have to spend more of their revenue on staffing and keep less in profits under a provision in the state budget approved Tuesday. Agreement on the $212 billion state budget by New York Gov. Andrew Cuomo and lawmakers came almost a week past the April 1 deadline.
HUD more than doubles affordable housing allocation … Senior living operators to receive $100M to help vaccinate residents and staff … Arizona governor signs bill providing COVID-19 immunity to long-term care providers … Starting your day by thinking about what kind of leader you want to be can make you more effective at work: study
Senior Living Investment Brokerage facilitates sale of two assisted living and memory care communities in California and an independent living community in Minnesota … Standard Communities acquires 597-unit mixed-income senior community in Chesapeake, VA … Integral Senior Living assumes management of Alexi Senior Living in Matteson, IL
As senior living and skilled nursing residents complete their COVID-19 vaccinations and case counts continue to decrease within the setting, some banks may be getting ready to re-enter the long-term care sector — though under new terms and requirements. That’s one of several findings in the latest lender survey released Tuesday by specialty investment bank Ziegler, in partnership with the National Investment Center for Seniors Housing & Care.
Following a decline in occupancy in early March, real estate investment trust Welltower saw spot occupancy increase in recent weeks, with an approximate gain of 30 basis points (0.3%) since March 12. That’s according to a presentation by the firm Tuesday at the second annual Mizuho Healthcare REIT Conference.
Chief financial officers around the country are optimistic about 2021, with 87% of finance leaders expecting revenues to increase this year, according to a new pulse survey of more than 700 U.S. executives released this week by PwC.
Locust Point Capital raises more than $428M in capital commitments for its seniors housing debt fund … Ziegler, M&T Realty advise on $15.1M refinancing of Chicago-area 55+ community … Walter Reed affordable assisted living project receives $20M in financing … Ensign Group acquires three Colorado SNFs
Pandemic isolation pushing some seniors to choose retirement living even earlier than planned … 1 in 3 remote workers may quit if required to return to office full-time: survey … State University of New York to open senior living community on campus
Occupancy continued to be challenged as the skilled nursing industry navigated the first months of 2021, according to the latest monthly skilled nursing data report from the National Investment Center for Seniors Housing & Care. Occupancy fell to a new low of 71.2%, dropping 0.4% below December’s numbers and 13.8% below pre-pandemic levels.
When President Joseph Biden took office earlier this year, many real estate investors went on high alert for policy changes that could affect their assets, noted a WealthManagement article Friday. One of the biggest concerns has been that the 1031 exchange once again may be on the chopping block.
Many large employers are expecting to offer COVID-19 vaccines on-site for workers by the end of the year, finds a survey released last week by the National Alliance of Healthcare Purchaser Coalitions. The agency surveyed 151 employers and other purchasers and found that 80% of very large firms, or those with more than 10,000 employees, anticipate offering vaccines to employees on-site.
USDA invests $19.3M into development of rural Iowa senior living community … HJ Sims partners with Gurwin Healthcare System to close on $102M in finance for New York independent living community … Ziegler closes $9.5M refinancing/partnership buyout for Wisconsin post-acute care portfolio … JLL advises CR Properties and Claiborne Senior Living on sale and financing of two seniors housing properties … MVAH Partners, Blueprints embark on $14.8M adaptive reuse and expansion project to turn former elementary school into affordable senior housing community … Insight Senior Living to open 118-unit assisted living and memory care facility in Conroe, TX, later this year
Continuing Healthcare Solutions joins growing list of long-term care operators mandating employee vaccinations … Gleckman: Biden proposal still missing critical pieces toward fully reforming Medicaid’s long-term care coverage … Connecticut senior housing builder faces several lawsuits seeking owed payment … Landmark Seattle life plan community celebrates 60th anniversary of its founding
An international group of investors managing a collective $3 trillion in assets is calling for operators of nursing homes around the world to improve wages and working standards for front-line nursing home staff amid the effects of COVID-19 on the industry.
Despite some headwinds from COVID-19, executives at Regional Health Properties feel hopeful about the nation’s vaccine efforts and occupancy recovery in the second half of the year, according to the firm’s fourth-quarter and year-end 2020 earnings results, released after the market closed on Thursday.
Homeowners aged 62 years and older saw their housing wealth grow by 3%, or $234 billion, in the fourth quarter, according to a report released Friday from the National Reverse Mortgage Lenders Association. The increase brings senior housing wealth to a record $8.05 trillion, the agency noted.
California nonprofits Front Porch, Covia complete affiliation … MedPAC urges Congress to eliminate current value-based purchasing program for SNFs… EEOC sues Charter Senior Living for disability discrimination … Welltower, Clover Group face federal fair housing lawsuit … Boston-area assisted living community gets new owner, plans to drop license and transition into affordable senior housing
The largest senior housing operators — those with 25 or more properties — experienced the greatest drops in occupancy during the pandemic, according to a National Investment Center for Seniors Housing & Care analysis released Thursday.
Approximately three-fourths of not-for-profit long-term senior housing and aging service providers report that when they add up all they have received through the Provider Relief Fund and all other pandemic-related funds, they still need more financial support to weather the ongoing expenses and reduced revenues resulting from battling COVID-19.
New research out of the University of Kansas may help senior living operators rock their next investor presentation.
