• National Health Investors Issues Another Update

    National Health Investors is continuing its steady census progress, but the rent deferrals for Bickford Senior Living just will not end. The silver lining is that the deferral amounts are decreasing, from $3 million in both March and April of this year and $2 million in June. Now, the two parties have agreed to $1.5 million in rent deferrals per... Read More »
  • Another Family Owner/Operator Exits the Industry

    As Covid-19 has led to overall decreases in senior housing occupancy levels, Sherer Management joined several of its peers by closing down its multigenerational family business with the sale of its last two CCRCs in Iowa.  These properties include a total of 188 beds at Rose Vista in Woodbine and Longview Home in Missouri Valley.... Read More »
  • HJ Sims Refinances Michigan Provider

    It took a couple of tries, but HJ Sims arranged $41.9 million in financing for Sunset Retirement Communities, a multi-campus, not-for-profit senior living provider in Michigan. The company has grown its holdings over the past decade, starting development on its Jenison campus in 2009 and completing it in 2015. Then, after completing a market... Read More »
  • Recent Senior Care M&A Deals, Week Ending June 18, 2021

    Senior care M&A is soaring back this month across all sectors. Check out our recent M&A deal chart. Long-Term Care   AcquirerTargetPrice Beacon Health10 skilled nursing facilities in Iowa$24.2 million Regional operator/private capital providerRose Vista in Woodbine and Longview Home in Missouri ValleyN/A Ciena HealthcareLincoln... Read More »
  • Drinking the Kool-Aid in Washington (State), Again

    The people of the state of Washington are getting closer to having to make a decision about a new payroll tax to fund a “long-term” care benefit, that is anything but long term. The 58-cent tax withholding for every $100 of salary and bonus may not seem like much, but the benefit is not much either.  This reminds us (sort of) of the Class... Read More »
Boosting Your Census Now

Boosting Your Census Now

Occupancy levels continue to decline, yet demand seems to be increasing as customers are coming back to take a look. There is a disconnect between the seller and the buyer that needs to be fixed now. The public companies are about to start releasing their earnings and census reports, and it may not be pretty. But, it does not have to stay that way. My gut tells me that a lot of sales staff have been blaming the virus on their inability to sell and fill units. Makes sense, right? But what if how they are selling, and communicating, or not communicating with customers, is the real problem?  Do you think management and salespeople have adapted to the new environment, the new mentality of... Read More »
Boosting Your Census Now

Long-Term Care Insurance Moratorium?

In a lack of wisdom, North Dakota legislators are considering a bill to ban long-term care insurance policy sales for three years. Just as Medicaid funding is getting stretched and the need for long-term care services will be increasing, North Dakota is apparently considering a bill that would impose a three-year ban on the sale of long-term care insurance policies. Really? The sponsors want to study the market and the history of premium increases. Great, and they have every right to do so, but to ban sales for three years while you “study the market”? Come on, how big is the market in North Dakota? Spend a week. Look, long-term care insurance is not perfect, and there are Cadillac... Read More »
The Vaccine and Census

The Vaccine and Census

The COVID-19 vaccine was supposed to solve the census crisis brought on by the virus, but it is not happening fast enough. Optimism still exists, however. A lot has been riding on the success of the vaccine rollout, for everyone personally as well as for the entire senior care industry. But I am worried. When I hear that certain areas are running out of vaccines, when I hear that it may not be as effective with some of the new strains entering our country, when I hear from some providers that up to 50% of their staff have decided not to get vaccinated, well, what does that say about how and when we will recover from this devastating virus? There is some optimism out there, with one... Read More »
Boosting Your Census Now

The Welltower Census Decline

Welltower’s seniors housing partners continue to suffer from census declines and operating costs. We do appreciate the transparency that Welltower has been providing investors, but boy does it provide a window onto what is happening. In its monthly update, Welltower informed us that it suffered its worst monthly census decline since May. December’s SHOP occupancy fell 100 basis points from November, compared with -70 basis points in November and -170 basis points in May. With the pandemic spreading, census dropped another 85 basis points to just 75.3% as of January 15. Not looking forward to everyone’s fourth quarter earnings calls. Move-ins were the lowest in six months, and... Read More »
Boosting Your Census Now

Assisted Living Is Not A Nursing Home

The media continues to throw all seniors housing into the nursing home basket. It has to stop now, especially in this time of COVID. Here I go again, or better yet, here goes the uninformed New York Times again. In a story last week called, “Voices From Inside Nursing Homes,” I didn’t know whether these would be the voices of workers, or the residents who felt isolated with little social interaction. It was mostly neither. It was voices from children of residents, and in two cases, the resident; one “voice” was that of a staffer. The problem was that most were not voices from nursing homes. They were from a residential care facility, a seniors housing complex, an assisted living community,... Read More »
Boosting Your Census Now

Active Adult: Is Now The Time

The active adult market may fill a lot of voids in seniors housing, including price points and attracting younger “seniors.” Join our webinar as we dissect the market with industry leaders and see how these new properties are trading in the market. First of all, Happy New Year. It has got to be better than the last one. The coronavirus pandemic has certainly disrupted the senior living industry, at least for now. Are consumers going to be afraid of moving into a senior living community once the vaccine is widely distributed? Will cost become a more  important factor for choosing the type of community to move into? How about paying for what you only want or need? These will... Read More »