The general operating environment for nonprofit continuing care retirement communities / life plan communities looks like it should remain stable in 2021, according to commentary released Wednesday by Fitch Ratings.
One of the biggest outcomes of the pandemic on the life plan / continuing care retirement community sector has been giant leaps made in recognizing the importance of connectivity within the lives of older adults and taking steps to ensure that it continues in spite of not being able to see each other in person, said speakers Wednesday at the LeadingAge Annual Meeting Virtual Experience.
Although not the reason behind Healthpeak Properties’ planned exit of its senior housing operating and triple-net lease portfolio businesses, COVID-19 certainly served as a catalyst for a full exit, CEO Thomas Herzog said Tuesday during the real estate investment trust’s third-quarter earnings call.
New continuing care retirement community The Spires at Berry College in Rome, GA, has been welcoming residents in stages since June. The setting is of “tremendous value,” even — or especially — during a pandemic.
The median rating for nonprofit life plan communities remains at ‘BBB,’ according to a report Tuesday from Fitch Ratings. However, this latest report only captures the first quarter of the year, the ratings agency noted.
When the COVID-19 pandemic began, Seattle-based nonprofit life plan community Bayview — like many other seniors housing operators — quickly went from vibrant hustling and bustling dining rooms to delivering meals to residents’ apartments. But with no clear end to the pandemic in sight, Bayview’s CEO, Nancy Weinbeck, challenged the community – both residents and staff – to find innovative and creative ways to bring back some social elements of the dining experience while also keeping residents safe.
Amid the fallout from the pandemic, the seniors housing industry may find new development opportunities in defaulted hotel deals, according to panelists Thursday during an Urban Land Institute webinar.
Although the methods we use to market senior living have changed, they never have been more essential to supporting seniors seeking to escape isolation and gain added services and socialization benefits.
Directors of assisted living / personal care in retirement homes enjoyed a 2.95% average salary increase from 2019 to 2020, with pay rising from $74,934 in 2019 to $77,142 in 2020, according to the “Continuing Care Retirement Community Salary & Benefits Report 2020-2021,” released Tuesday.
Life plan communities were the type of senior living community least affected by the COVID-19 pandemic, reaffirming their stable future, according to a report from specialty investment bank Ziegler.
