Over the past several years, several senior living operators have chosen to dedicate an entire employment role to strategy and business development, according to a new survey by specialty investment bank Ziegler.
Three-fourths of senior living and care providers invested in video conferencing capabilities for residents last year, quadrupling the number of providers who did so just two years earlier, according to a new Ziegler CFO Hotline survey conducted in partnership with the LeadingAge Center for Aging Services Technologies. Survey results also suggested that spending for telehealth and telemedicine technologies also doubled from investments made two years ago.
Average occupancy within life plan communities fell another 90 basis points in the fourth quarter, dropping to a new record low of 85.7%, according to the National Investment Center for Seniors Housing & Care’s NIC MAP Data Service. These latest data bring the cumulative drop in occupancy with the life plan community sector to 3.5% since the pandemic began.
The growing complexity of the senior living sector, particularly around healthcare and COVID-19-related activities and their expense, has put more organized, stronger senior living providers in a better position than their smaller, weaker counterparts.
Roughly half of seniors housing and care lenders say they are now lending on new construction, but the maximum loan-to-cost percentage, spreads and recourse requirements have become more onerous since the second quarter.
Independent living and assisted living operators continue to face occupancy pressures, whereas memory care and skilled nursing occupancy rates have remained fairly stable, according to specialty investment bank Ziegler’s November CFO Hotline survey on the effects of COVID-19.
Independent living and assisted living operators continue to face occupancy pressures: Ziegler poll … Many hospitals again postponing elective surgeries amid COVID-19 surge … Ensign Group acquires 116-bed Texas skilled nursing facility … Capital Senior Living completes $18M sale of Ohio senior living community … Real estate investment firm Eagle Arc purchases two South Florida SNFs for $36.4M … Enterprise Community Development completes construction of $30M affordable seniors housing project in Richmond, VA … Social Security likely to feel effects of COVID-19 long after pandemic is over
For their fiscal years ending in 2019, senior living organizations accredited by the Commission on Accreditation of Rehabilitation Facilities were in a solid financial position to weather the COVID-19 crisis, according to the latest report from CARF, tax advisory firm Baker Tilly and specialty investment banking firm Ziegler.
Fed lowers minimum loan amount to $100,000 for Main Street Lending Program … Most cities ill-equipped to meet the needs of older residents: report … Ziegler closes $125M in financing for CCRC owner HumanGood … PrivCap pays $7M for Florida assisted living community … Oakmont Senior Living opens 142-unit senior living community near Sacramento, CA
After releasing a “sneak peek” at the top 10 providers in September, LeadingAge and Ziegler have released the full LeadingAge Ziegler 200 compilation of the country’s largest not-for-profit senior living multi-site organizations, government-subsidized housing, and multi-site and single campuses.
