A two-year initiative to rebrand “continuing care” has concluded with a new name for CCRCs. “Life Plan Communities” is the new term that LeadingAge, Mather LifeWays, and a host of partner companies will attempt to bring into wider use. LeadingAge President and CEO Larry Minnix explains, “At the core of the decision to move to a community is having the right plan for what the next stage of life has to offer.” Interested community operators can access resources and download a launch kit to join in spreading the word.
Senior housing ROI surpasses that of other major real estate property types, according to a new report by CBRE National Senior Housing. The report looked at things like capitalization rates and investment returns and concluded that senior housing’s strong performance may be attributed to an increased risk that brings increased reward. The report also notes that, unlike other markets, senior housing experiences continuous rent growth despite fluctuations in the general economy.
Health Care REIT and ALFA Get Branding Makeovers
Two major players in senior living are rebranding for the industry’s changing needs. Starting December 1, the Assisted Living Federation of America (ALFA) will be known as Argentum. The new name, “derived from the Latin word for silver, conveys strength and a sense of gravitas while giving a nod to the ‘silver generation,’” according to the association.
Here's what happened in senior living management last month.
The majority of respondents to a NREI/NIC survey believe new senior housing supply will keep pace with demand, despite the continuing uptick in construction. Q2 saw more units built than any quarter in the past six years, and nearly 7 in 10 respondents expect the construction trend to continue over the next 12 months.
Here’s what happened in senior living management last month.
The Centers for Disease Control and Prevention released a new online continuing education course to help healthcare providers prevent falls, as part of its STEADI (Stopping Elderly Accidents, Deaths, & Injuries) initiative. The free interactive course teaches providers how to screen older patients for falls, identify risk factors, and offer interventions.
HCP, Inc. and Brookdale Senior Living Inc. completed their acquisition of 35 private pay senior housing communities in a deal worth $847 million. Brookdale has been managing the portfolio since 2011 and will continue to do so under the new arrangement.
ALFA is doing their best to aid senior living companies in navigating labor laws and regulation. This month, they released a revised edition of their Labor Relations Tool Kit, a resource that is free to ALFA members. The tool kit includes information on maintaining positive employee relations, resident services, and other information that human resources and senior living professionals will find useful.
Investment in healthcare real estate continues to grow, and it is currently being driven by interest in senior living communities. According to brokerage firm Marcus & Millichap, investors are attracted by boosts in senior housing occupancy, transaction volumes, and returns.