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Documentation key in avoiding COVID-19 employment and wrongful death lawsuits

As of Wednesday, more than 8,000 COVID-19-related complaints have been filed across the United States, according to a national lawsuit tracker by international law firm Hunton Andrews Kurth. Although many of the complaints involve attacks on pandemic restrictions, thousands include workers’ compensation claims, and hundreds of individual lawsuits involve wrongful death, personal injury or workplace safety claims, mostly targeting cruise ships, meat-processing plants and other businesses, including nursing homes, the Alexandria, VA-based firm reported.
staff member with mask

Bipartisan legislation seeks to ensure nursing homes retain adequate staffing levels

U.S. Reps. Fred Keller (R-PA) and Susan Wild (D-PA) joined together Thursday to reintroduce the Nurses CARE Act for the 117th Congress. This bipartisan bill seeks to ensure that long-term care facilities can maintain adequate staffing levels by allowing temporary nurse aides to retain their certification status after the COVID-19 emergency declaration has been lifted.

Business briefs for Friday, Jan. 22

COVID-19 forced workplace absences to skyrocket last year … SBA approved 60K PPP loans in first week of program’s re-introduction … Watercrest Senior Living, Harbert Seniors Housing Fund II break ground on 98-unit luxury senior living community in Richmond, VA … Beztak Companies opens luxury independent senior living community in Ann Arbor, MI

Business briefs for Thursday, Jan. 21

Genesis’ Hager received a $5.2M retention payment before retiring from the firm; will have to pay unspecified amount back: report … St. Andrews breaks ground on $23M active adult community near St. Louis … New senior living operator Prosper Life Care purchases Massachusetts assisted living community for $11.9M … Senior Living Investment Brokerage facilitates $7.8M sale of 90-unit senior living community in Orangevale, CA
Pensive older Black woman clutching pillow

More than half of American households now face retirement insecurity: report

After improving slightly in 2019, the outlook for financial security in retirement for workers aged 30 to 59 deteriorated in 2020, according to a research brief released Tuesday by Boston College’s Center for Retirement Research. The report found that 51% of U.S. households now are at risk of being unable to maintain their standard of living in retirement. That number is up from 49% in 2019, thanks to the COVID-19 pandemic, the authors wrote.
coronavirus close-up

Welltower’s senior housing occupancy drops to 75.3%

Welltower’s total senior housing operating portfolio occupancy declined approximately 220 basis points during the fourth quarter, falling from 78.4% to 76.2%, according to a business update released Tuesday by the Toledo, OH-based real estate investment trust. Occupancy has declined an additional 85 basis points month-to-date, dropping to 75.3%.

Business briefs for Wednesday, Jan. 20

Early planning, ownership of the vaccine process play a role in states leading nation in vaccine distribution … Treasury Secretary nominee Janet Yellen calls for more aid to avoid long, painful recession … SBA proposes rule to eliminate regulations excluding faith-based organizations from several of its programs … Fitch assigns BBB- rating to NHI’s proposed $400 million senior unsecured notes … Real estate equity fund Urban Catalyst secures $131M in capital for seven San Jose, CA ground-up developments, including a senior living community

Business briefs for Tuesday, Jan. 19

Long-term care vaccinations hit 1 million mark; on target for March 1 completion … Price increases amid COVID-19 outstripping recent 1.3% cost of living adjustment boost for seniors … Pennsylvania Department of Aging launches task force to address the financial exploitation of seniors … HHS finalizes rule axing LGBTQ nondiscrimination protections

Senior housing and care acquisition numbers reach record high in fourth quarter

Despite a surge in COVID-19 cases nationwide, the number of publicly announced senior housing and care acquisitions in the fourth quarter of last year rose to a record high, with 120 deals announced, according to data released this week from Irving Levin Associates. The increase represents a 107% jump from the 58 transactions in the previous quarter and is 5% higher than the 114 deals made public in the fourth quarter of 2019.
older woman wrapping a vase in bubble wrap

Even amid COVID surge, many seniors housing operators not increasing move-in restrictions: NIC

Despite reports of record-high COVID-19 cases across the country occurring daily, roughly two-thirds of long-term care organizations report that they have not increased move-in restrictions. That’s according to data collected from the most recent Executive Survey conducted by the National Investment Center for Seniors Housing & Care.

Business briefs for Friday, Jan. 15

Seniors’ housing wealth reaches record $7.82T … EEOC schedules 2021 openings of EEO data collections after pandemic delay … AARP offers up 10 tips for reforming and improving nursing homes … Ryan Companies, LCS and Harrison Street close on financing and begin construction of 10-story, $117M mixed-use retail and senior living property in Chicago … HJ Sims closes $30M in financing for New York CCRC Bethel Methodist Home
former Vice President Joe Biden at a podium with an American flag in the background.

More stringent equal pay laws, minimum wage hikes expected under Biden administration: experts

Long-term care operators can anticipate several changes in employment and labor laws once the country inaugurates a new president next week, according to a group of legal experts from the international law firm Proskauer Rose LLP. The group notes that President-elect Biden has touted support for improved pay equity, an increased federal minimum wage, pro-worker and pro-union labor policies and additional anti-discrimination protections.

Ongoing concerns over pandemic recovery leads to NHI, Omega, Sabra downgrades from Mizuho

An analysis released Wednesday from investment banking firm Mizuho Securities USA includes a downgrade of real estate investment trust National Health Investors to “underperform” from “neutral.” The change stems from concerns around the larger senior housing operators in NHI’s portfolio, which either have tight rent coverage or already have been granted rent deferrals.

Business briefs for Thursday, Jan. 14

HUD announces competition for $150 million in funding for Section 202 Supportive Housing for the Elderly, with applications due in May … Direct care workers remain undervalued and underused in the long-term care sector: report … HHS opens COVID-19 vaccines to seniors in independent living, affordable housing … Increased penalties for nursing homes likely under Biden administration: experts

Senior living occupancy continued to slip in December: NIC

The occupancy rate within majority assisted living properties declined again in December, falling to 77.7%, according to the latest intra-quarterly snapshot released Tuesday by the National Investment Center for Seniors Housing & Care’s NIC MAP Data Service. Assisted living occupancy is down 7.4% since March, according to the report.

Business briefs for Wednesday, Jan. 13

Benchmark Senior Living becomes part owner and assumes operational management of Connecticut CCRC … Biden presidency could see expanded role for CMS … Gardner Capital breaks ground on new senior living community in Hurst, TX

Former Capital Senior Living CEO launches Trustwell Living

Lawrence Cohen, a senior living industry veteran and former CEO of Capital Senior Living, has taken the helm of newly launched senior living operating firm Trustwell Living, joined by three additional long-time colleagues.
activity room with chairs but no people

BMO Capital Markets expects quicker SNF occupancy recovery, though risks remain with government support likely to fade this year

Real estate investment trusts with a large share of skilled nursing operators in their portfolios are likely to see occupancy rates recover more quickly than the more elongated recovery of senior living-focused REITs, thanks to the greater government support that SNFs have received amid the COVID-19 pandemic. That’s according to an analysis released last week by investment banking firm BMO Capital Markets.

Business briefs for Tuesday, Jan. 12

HHS extends public health emergency to April … ACG, Artemis complete acquisition of two senior living facilities in Oregon and Washington … Draper and Kramer purchases 121-unit senior living community near Dallas … Premier Senior Living to develop senior living community near St. Louis … McShane Construction to build active senior living community in Hendersonville, TN … Real estate firm Presidium completes first luxury active adult community in Frisco, TX

BMO Capital Markets predicts elongated seniors housing recovery, changes outlooks for REITs

Although the COVID-19 vaccines are expected to become more widely available as the first quarter continues, investment banking firm BMO Capital Markets is predicting an elongated recovery for the senior living industry, with cash flows not recovering to pre-pandemic levels until about 2025. That’s according to an analysis released Thursday by the firm.
senior holding hand of healthcare worker

Financial incentives, elimination of regulatory barriers may help expand availability of small-house nursing homes: report

Despite evidence that residents within one of the best-known alternative nursing home models, the Green House Project, have fared much better amid the COVID-19 pandemic than those in traditional skilled nursing facilities, the nation’s adoption rate of this model remains relatively slow. In fact, currently only 300 Green House nursing homes exist nationwide, according to a new report from the AARP.

Business briefs for Monday, Jan. 11

FL senator calls for investigation into the state’s vaccine distribution after reports of senior living facility CEO offering immunization to wealthy donors … SBA and Treasury re-open PPP under new guidance … Nursing and residential care facilities lost another 13,400 jobs in December … Auerbach Funds and Prado Senior Living acquire California assisted living and memory care community … Kisco Senior Living purchases Irvine, CA-based Atria Park of Woodbridge

Pandemic drives senior living occupancy to record lows

The coronavirus pandemic continues to negatively affect occupancy in senior living, with percentages released Thursday by the National Investment Center for Seniors Housing & Care’s NIC MAP Data Service representing all-time lows for the sector.

Business briefs for Friday, Jan. 8

EEOC proposes rules to address the level of incentives employers can offer in wellness programs without violating ADA or GINA … Minority, women-owned businesses to get first shot at next round of PPP loans … First round of COVID-19 vaccinations in nursing homes should be complete by the end of the month … Life Care Services selected to manage the Rose Senior Living portfolio of six senior living communities … Senior Living Investment Brokerage facilitates sale of Portland, OR memory care community … Cushman & Wakefield arranges refinancing loan for San Antonio seniors housing property

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