Business Daily News - McKnight's Senior Living

Business Daily News

Business briefs for Monday, Oct. 26

HHS broadens definition of lost revenue for Provider Relief Fund to allow more aid to operators … Provider groups request extension of moratorium on the 2% Medicare sequester cuts … Ziegler closes $81M in financing for Rockwood Retirement Communities … Erickson Living and National Senior Campuses enter joint venture to develop and manage new CCRCs across the country

Business briefs for Friday, Oct. 23

Legal action not the solution when it comes to SNFs and COVID-19: AHCA … Florida facility where 52 residents died of COVID-19 hit with $67K fine, keeps license … Nearly half of U.S. employers are unprepared to administer paid leave programs: study … HJ Sims assists in securing $107M in financing for Presbyterian Retirement Communities … Construction begins on $50M senior living community in Kalamazoo, MI

Most affordable seniors housing providers can’t afford pandemic supplies: survey

The majority (69%) of affordable seniors housing providers say they are at least financially strained — if not severely financially strained — as a result of having to pay for personal protective equipment, cleaning supplies, thermometers, and other screening tools amid the ongoing pandemic. That’s according to a survey of 278 nonprofit seniors housing providers conducted by LeadingAge earlier this month.

Business briefs for Thursday, Oct. 22

COVID-19 has forever changed how senior living and care will do business: speakers … Older workers face higher unemployment than their mid-career peers amid pandemic … New affordable housing subsidy will help preserve Ohio seniors housing community … Walker & Dunlop launches new black equity certification program … CBRE arranges $80M refinancing for California seniors housing community … JCH closes $13.9M sale of California assisted living community

Most adults believe pandemic economy is worse than 2008 Great Recession: study

More than half of U.S. adults (51%) say they believe the economy the country currently is experiencing amid COVID-19 is worse than the Great Recession that occurred in 2008. That’s according to a study released Tuesday by financial planning and investment adviser Edelman Financial Engines. Only 26% of respondents said 2008 was worse.
P2 N95 protection respiratory mask

DOL addresses effectiveness of N95 respirators in new FAQs

The Department of Labor’s Occupational Safety and Health Administration released a series of Frequently Asked Questions stating that N95 respirators effectively protect wearers from coronavirus exposure. The update came in light of false claims that the N95 respirators’ filter does not capture particles as small as the virus that causes the coronavirus.

Business briefs for Wednesday, Oct. 21

Greystone still top commercial lender for HUD-insured loans: report … ORIX brings Hunt, Lancaster Pollard and Red Capital Group together to form Lument … Fairstead converting former illegal hotel on Manhattan’s Upper West Side into affordable senior housing … KeyBank provides $5M acquisition loan for New Jersey affordable senior housing apartments … 21% of Medicare beneficiaries have forgone some healthcare because of pandemic: CMS survey
woman with face mask down, looking out window

Long-term care operators can’t compete with service industry wages: speakers

The perception that nursing home work is dangerous due to the ongoing COVID-19 pandemic, coupled with persistently low wages, has made it more difficult than ever to hire caregivers within New Hampshire’s skilled nursing facilities and assisted living communities. That’s according to speakers last week at a round table discussion between state lawmakers and local long-term care operators.
Nashville skyline at sunset

Healthpeak considering HQ relocation

Irvine, CA-based Healthpeak Properties is reportedly considering moving its headquarters. According to the Nashville Business Journal, the real estate investment trust is eyeing a move to Nashville, TN. Denver and Dallas are also under consideration by the firm, according to articles in the Dallas Business Journal and Denver Business Journal.

Business briefs for Tuesday, Oct. 20

National Health Investors collected 97.8% of contractual rent in October … Pharmacy partnership to allow long-term care residents to receive free COVID-19 vaccine … Presbyterian Home of Maryland to break ground on $100M nonprofit CCRC … United Group obtains $32M construction loan South Florida active adult development … CBRE provides $12.3M refinancing for seniors housing community near Nashville … Senior Living Investment Brokerage assists in sale of Georgia assisted living and memory care community
Headshot of Todd Lindblom

Long-term care likely to face uneven recovery: report

The effects of the COVID-19 pandemic have been uneven across markets and care/service segments within long-term care, which will lead to an uneven recovery for the industry over the coming years. That’s according to a report released Thursday by Marcus & Millichap. Long-term prospects for the sector remain positive, however, driven by the growing care needs of an aging population.
Senior Living Facility

Nursing home and assisted living move-ins increasing: NIC survey

Assisted living and skilled nursing facilities are reporting an increase in the pace of move-ins over the past 30 days, according to data collected from the most recent Executive Survey conducted by the National Investment Center for Seniors Housing & Care. In fact, results show that move-ins have risen to their highest levels since the survey began in March (43% and 46%, respectively).

Outlook for senior housing tied to the pandemic: PwC/ULI report

Senior housing investing continues to offer intriguing opportunities in the real estate market, but it is not without its short-term challenges. That’s according to the Emerging Trends in Real Estate report released last week from PricewaterhouseCoopers and the Urban Land Institute.

Business briefs for Monday, Oct. 19

Missouri construction firm installing building upgrades to help prevent virus spread in senior living … Ohio nursing home owner to plead guilty to $59M bank fraud scheme … Seniors saw their housing wealth grow by 1.8% in the second quarter to a record $7.7 trillion … COVID-19 emergency sick leave helped reduce U.S. COVID-19 cases: study … Older workers key to post-COVID recovery: report
Senior couple unpacking cardboard boxes

September senior living inquiries down only 9% from last year: Enquire

Despite news Thursday that senior housing occupancy rates hit an all-time low in the third-quarter, overall inquiries into senior living appear to be recovering from their pandemic lows. That’s according to a report released Thursday from Denver-based Enquire. The firm found that September inquiries into senior living were down only 9% from a year ago. In April, inquiries had dropped 41% compared with a year ago.
Headshot of Bruce Chernof

Most Americans want health insurance companies and Medicare to pay for long-term care: poll

Compared with 2018, fewer Americans now think individuals and families should be responsible for paying for their aging loved ones’ care. Instead, more believe that health insurance companies and Medicare should take responsibility for the costs. That’s according to a new study from The Associated Press-NORC Center for Public Affairs Research.

Business briefs for Friday, Oct. 16

Diversified Healthcare Trust declares third-quarter dividend of 1 cent per share … Sims helps secure $38M in financing for Presbyterian Villages of Michigan’s independent living expansion … Strawberry Fields REIT acquires Illinois SNF for $4M … Ohio group opens two new assisted living communities … Vitality Living expands into Mississippi with 117-unit senior living community … Consider these top 25 Best Places to Live and Best Places to Retire lists when evaluating where to locate your next senior living community
Mark Parkinson headshot

Industry leaders plead for fiscal relief

Citing a worsening pandemic, the American Health Care Association / National Center for Assisted Living warned again Wednesday that widespread financial challenges loom over many long-term care facilities.

Healthcare REITs showing signs of life

Healthcare real estate investment trusts, many of which have been heavily affected by the coronavirus pandemic, have shown signs of life over the past quarter in terms of stabilizing fundamentals. That’s according to an analysis Tuesday by Seeking Alpha.

Business briefs for Thursday, Oct. 15

New York luxury seniors housing properties could be difficult to lease amid pandemic, some experts say … Most Americans have inadequate savings for retirement: survey … Senior Living Investment Brokerage arrange sale of California and Georgia senior living communities … Brightview opens 96-unit seniors housing community in Maryland … Blueprint brokers sale of three-property Texas seniors housing portfolio

Business briefs for Wednesday, Oct. 14

Evans Senior Investments arranges sale of Class A seniors housing campus in Wisconsin … Oakmont Senior Living opens new assisted living community outside of Los Angeles … CPF Living Communities acquires senior housing community in Englewood, FL … Marcus Investments acquires Wisconsin senior living campus, partners with Health Dimensions Group for management
Headshot of Michael Jacoby

COVID-19 likely to be a driving force in lenders’ economic perceptions: survey

Despite some experts indicating that the outlook for the U.S. economy is more favorable for the rest of 2020, less than one in four lenders expect their loan portfolios to improve from a risk rating perspective. That’s according to results from the third quarter Phoenix Management Lending Climate in America survey.

Business briefs for Tuesday, Oct. 13

Rockport arranges $81.8M refinancing loan for Boston senior housing community … Fairstead buys South Florida affordable senior housing property for $18M; plans $12M renovation … Boulder, CO, senior housing complex to undergo $19M renovation … Hunt Midwest and McWhinney to build new senior Living community in northern Colorado … Mather announces that first phase of Virginia life plan community is 70% pre-sold
computer rendered illustration of a microscopic virus

Many operators bracing for pandemic fiscal hangover: survey

Just over a third (37%) of senior living operators say they believe the pandemic will negatively affect their finances for the entirety of 2021, specialty investment bank Ziegler found in its latest CFO Hotline survey on the effects of COVID-19.

Business briefs for Friday, Oct. 9

COVID-19 relief standstill could spell doom for long-term care facilities … Nearly half of economists don’t see U.S. recovering lost jobs until 2023 … Omega announces pricing of $700M in senior notes offering … Ziegler closes $47.9M in Series 2020AB bond financing for Michigan senior living community

Analysts mull DeRosa’s departure from the helm at Welltower

Following the announcement earlier this week that Thomas DeRosa is stepping down as Welltower’s CEO, several analysts noted that although the timing of the announcement was unexpected, the choice for his replacement, Shankh Mitra, was not.

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