• Interview with Arnie Whitman and Meredith Oppenheim on VITALS

    The SeniorCare Investor’s Ben Swett recently sat down with Meredith Oppenheim and Arnie Whitman to discuss their new framework for seniors housing operators to improve the quality of life for their residents, but also to position the sector for greater success and wider appeal in the future. Watch the conversation here. Read More »
  • Michigan-Based Owner/Operator Expands in Tampa MSA

    American House Senior Living Communities added Beach House Assisted Living & Memory Care in Wesley Chapel, Florida (Tampa MSA), to its operating portfolio and renamed the property American House Wesley Chapel. The community features 67 assisted living and 33 memory care units with studio, one- and two-bedroom floor plans, some with balconies... Read More »
  • Seniors Housing Community Near Chicago Gets New Owner

    SVN Chicago Commercial sold McKenzie Falls, an affordable seniors housing community in Bolingbrook, Illinois, roughly 30 miles southwest of downtown Chicago. The building was constructed in 2010 and spans 74,047 square feet across one story.  An undisclosed buyer acquired the 105-unit community for $6.7 million, or $63,800 per unit. Reid... Read More »
  • Healthpeak Properties Provides Janus Living Updates

    Healthpeak Properties’ recently formed seniors housing REIT, Janus Living, which will manage Healthpeak’s 34-community seniors housing portfolio, has filed a registration statement on Form S-11 with the SEC relating to a proposed initial public offering of its shares of Class A-1 common stock, which the company intends to list on the NYSE under... Read More »
  • SLIB Handles Senior Care Campus Deal in Missouri

    A Maryland-based owner/operator looked to expand its Missouri senior care portfolio with the purchase of Kingdom Care Senior Living in the town of Fulton. Built in 1980, the campus includes four independent living units, 26 assisted living units and 36 skilled nursing beds. It currently holds a five-star rating at the SNF and is the only... Read More »

Occupancy, Rates And Discounting In Seniors Housing

The recent NIC MAP data on occupancy, development and rate growth can be interpreted in many ways. So, what are we really to make of the NIC MAP data for the first quarter? Most of the data was viewed positively, despite a smallish decline in occupancy from last year’s fourth quarter. Absorption levels have been increasing, according to the data, and construction starts as a percent of existing supply declined from both the fourth quarter and the year-ago quarter. Does this mean that the much-feared over-building threat has dissipated? Hardly, as one quarter’s worth of data does not present a strong trend, and it is possible the small decline in starts was related to the chaos in the... Read More »

A lot of building, but what’s the cost?

Taking a look at the NIC MAP® Construction Monitor as of Q2:15, which examines seniors housing construction in the Top 99 MSAs, we noticed on the AL side there were 22 MSAs with a construction vs. inventory ratio above 10%. If that doesn’t show a frothy development market, then what does? But, what is the cost to build in some of those MSAs? The Sarasota market, which has gotten a good amount of attention for its development pace, has eight assisted living properties under construction, and 893 units, representing a construction vs. inventory ratio of 30.7%. According to our data, which tracks senior living construction projects since 2013, majority-AL communities in the Sarasota market... Read More »

Seniors Housing Census Woes Continue

Brookdale Senior Living is not the only one with some recent census declines… The next few weeks will be very telling in terms of the direction of some of the major seniors housing companies. All eyes will be on Brookdale Senior Living next week as it announces second quarter results and whether it has reversed its downward occupancy trend. Brookdale’s stock price is down about 15% since June 1 and is at its lowest level in more than eight months. Those activist shareholders must be going nuts. We know NIC MAP indicated a tough second quarter in general, and we also know that the Atria Senior Living and Sunrise Senior Living properties in the Ventas stable posted a combined 40 basis... Read More »