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10 Most-Read Senior Housing News Stories of 2021

Tim Mullaney — Tue, 21 Dec 2021 22:29:08 GMT

While senior living operators continued to battle the Covid-19 pandemic in 2021, the industry was being reshaped by blockbuster deals.

It’s no surprise that Atria Senior Living’s acquisition of Holiday Retirement — with Welltower (NYSE: WELL) investing in 86 Holiday properties — led to the most-read story on Senior Housing News in the last 12 months. The deal combined two of the largest operators in the United States, and laid the groundwork for the venerable Holiday portfolio to serve yet another generation of older adults.

But this was far from the only notable deal of the year. Welltower was particularly active, and the company’s $1.3 billion acquisition of four portfolios led to a top-10 SHN story. Another major real estate investment trust — Ventas (NYSE: VTR) — also made splashy headlines, with its $2.3 billion acquisition of another REIT, New Senior.

Readers were also avid for information about Lifespark’s innovative move to acquire Tealwood Senior Living and the senior living implications of Cano Health’s SPAC deal.

Other stories reflected the ongoing toll and pressures of Covid; readers were interested in the fate of Eclipse Senior Living, and worried about the Delta variant and the pressing need to get staff vaccination rates up. But they were also looking toward the future, with innovations in memory care and intergenerational living garnering particular interest.

As always, we hope you find this list informative and helpful as you take stock of the past year and plan for what lies ahead. We wish all our readers happy holidays. Thanks for reading.

1. Atria to Acquire Holiday Retirement as Welltower Buys 86 Properties for $1.6B

Publish date: June 21

Key quote:

“There’s a tremendous amount of strong alignment here between the operators and owners, and you will see how we take this timeless design and incredible physical plant to its next stage.” — Welltower CEO Shankh Mitra

Further reading:

Atria, Welltower Deals Could Create ‘Holiday 3.0,’ Shake Up Industry

Atria CEO: Time To ‘Step On The Gas’ With Senior Living Development Despite Tricky Challenges

Atria-Holiday Proceeds With Integration, Right-Sizing of Corporate Office

Holiday CEO: After Years of Workforce Improvement, We Now Aim To Elevate Resident Experience

2. Eclipse Senior Living to Shut Down Corporate Operation By End of Q1 2022

Publish date: October 4

Key quote: “I want to express my deep thanks to all company associates who have worked tirelessly over the past four years to build a solid platform for growth and more importantly, provide excellent care and service to thousands of residents and each other – especially during this ongoing pandemic.” — Eclipse Senior Living CEO Kai Hsiao

Further reading:

Eclipse Senior Living Closure Shows Covid is Casting Long Shadow Over Industry

Ventas Identifies Operators Taking On Eclipse Assets, Cafaro Sees Robust Recovery Underway

How Senior Living REITs, Operators Are Taking On Sizable Portfolio Transitions

3. Memory Care Innovations Take Hold In Wake Of Covid-19

Publish date: April 15, 2021

Key quote: “It’s about using [flexible spaces] creatively in the moment to respond to everybody’s needs, and not stigmatize or segregate somebody who’s exhibiting a particular behavior at a particular time.” — Perkins Eastman Senior Associate Max Winters

Further reading:

New Operator Bella Groves Launches With Membership-Based Memory Care Model

Inside the Wellness-Driven Memory Care Models of Senior Star, Sunshine Retirement

Pegasus CEO: We’re Most Bullish on Memory Care, Aim to Double Overall Portfolio by 2026

Capital Senior Living Rebrands to Sonida, Maps Future Strategy After $154.8M Infusion

4. ‘The Risk is Significant’: Delta Variant Threatens Senior Living Industry’s Covid-19 Recovery

Publish date: July 26

Key quote: “The likelihood of being hospitalized and dying, even among the older adults in our senior living communities, will be markedly reduced if they’re fully vaccinated. But we need to not be complacent.” — ALG Senior Chief Medical Officer Dr. Kevin O’Neil

Further reading:

‘Not One Singular Trend’: Inside Senior Living’s Uneven Pandemic Recovery

Brookdale Recovery Slowed — But Not Stopped — By Delta Variant, Labor Pressures

REITs See Delta-Related Occupancy Loss, Expect Deals to Pick Up in Q4

5. Valued at $4.4B in SPAC Deal, Cano Health Sees Future in Senior Living Partnerships

Key quote: “The paradigm shift is you can maintain health and improve health and longevity and quality of life — we’re doing that with all these wraparound services, without any incremental costs, that is the real difference.” — Cano Health Founder and CEO Dr. Marlow Hernandez

Further reading:

Cano Health CEO: Our Integrated Care Model Could Be ‘Incredibly Helpful’ to Enhance Senior Living Value Prop

What the Launch of Walgreens Health Means for Senior Living Providers

6. More Senior Living Providers Impose Staff Mandates As Covid-19 Vaccination Lags

Publish date: February 16

Key quote: “We know there will be more variants coming, and we don’t know what those will look like. So, it is incumbent upon us as leaders in the company to make the hard decision that … you have to be vaccinated to work here.” — Silverado CEO Loren Shook

Further reading:

Sunrise Senior Living Joins Growing List of Providers to Mandate Covid Vaccine

Senior Living Groups Praise Sweeping New Vaccine Mandates, Blast Lack of Financial Relief

Atria, Other Senior Living Providers Prep for Vaccine Booster Clinics As Regulators Convene

7. Welltower to Acquire 4 Senior Housing Portfolios for $1.3 Billion

Key quote: “We have recently observed a meaningful uptick in potential investment opportunities as the level of motivation from various sellers has risen, coinciding with further industry disruption due to the Delta variant and challenging labor environment.” — Welltower CEO Shankh Mitra

Further reading:

What Comes After the $4 Billion Start of Welltower’s Shankh Mitra Era

Welltower CEO: We Are More Bullish Than Ever on Senior Housing, With Conditions From Double-Negative Cycle

Kisco Senior Living CEO: As Covid-19 Fear Has Waned, Other Challenges Emerge

8. Value-Based Care Innovator Lifesprk to Acquire Tealwood Senior Living; Bill Thomas to Lead Creation of Operational Model

Key quote: “As we’ve evolved and the world opened up in the last four or five years with where value-based payment was going … it made a lot of sense for us to think about, there’s a lot of aggregation in a senior campus, a lot of opportunity.” — Lifespark Founder and CEO Joel Theisen

Further reading:

5 Ways Lifesprk’s Tealwood Acquisition Could Drive Senior Living Transformation

Lifesprk CEO: Innovations Underway to Bring Tealwood Portfolio Into New Care, Payment Models

Lifespark ‘Holy Grail Deal,’ SCAN Build on Medicare Advantage Momentum in Senior Living

9. Ventas to Acquire New Senior Investment Group in $2.3B Transaction

Key quote: “The transaction provides Ventas shareholders with an attractive valuation and accretion, and further positions us to win the recovery.” — Ventas CEO and Chairman Debra Cafaro

Further reading:

Atria-Holiday Merger, New Senior Deal Has Ventas Positioned for Future Senior Housing Growth

Ventas Puts Its Money Where Its Mouth Is With $2.3 Billion New Senior Deal

Atria to Manage 21 Communities for New Senior, Debuts Atria Retirement Brand in US

10. How Intergenerational Living Is Shaping New Senior Housing Models Post-Pandemic

Publish date: May 31

Key quote:

“If we thought about our communities in intergenerational ways, we would be developing schools, universities, parks, trails and [communities] in ways that attract and engage people across the age spectrum.” — Generations LLC Executive Chairman Chip Gabriel

Further reading:

After SHAG Affiliation, Transforming Age Readies New Management Brand and Intergenerational Models

Why Multifamily, Senior Housing Hybrids Could Shape the Future of Intergenerational Living

Garden Spot CEO: We Are Looking Beyond Age-Restricted Housing for Urban, Intergenerational Model

The post 10 Most-Read Senior Housing News Stories of 2021 appeared first on Senior Housing News.

$350 Million Mixed-Use Project Moves Ahead with Atria, Welltower On Board

Tim Mullaney — Tue, 21 Dec 2021 22:09:56 GMT

Atria Senior Living and Welltower (NYSE: WELL) are partnering to develop a senior living community as part of a $350 million mixed-use residential and retail project in New Jersey.

The 25-acre project has been dubbed W Squared and will transform the Princeton Junction train station into an all-ages residential and retail center, according to a Dec. 20 article from ROI-NJ.

Equity real estate investment trust AvalonBay (NYSE: AVB) is leading the effort, which also involves residential real estate giant Pulte Homes (NYSE: PHM).

The West Windsor planning board recently approved the final site plan, according to ROI-NJ.

Those plans call for 135 assisted living units in a community to be co-developed by Louisville, Kentucky-based operator Atria and Toledo, Ohio-based REIT Welltower. Atria is slated to operate the community upon completion.

Plans for W Squared also include a variety of retail offerings, highly amenitized housing with designs for every age group, a public promenade, and other recreation options, such as a fountain play area for children.

This is hardly the first project for Atria and Welltower — the two companies are collaborating with Related Cos. on luxury urban highrises in New York City and San Francisco, under the Coterie brand.

After site work throughout 2022, vertical construction of W Squared is anticipated for 2023, with ribbon-cuttings occurring in 2024, according to ROI-NJ.

The Princeton area recently got a new senior living option, as Maplewood Senior Living debuted in the state with a community on the campus of Penn Medicine-Princeton Health. Maplewood also is a player in the urban highrise market, having opened the Inspir building in Manhattan earlier this year.

Senior living also has been on the rise as a component of mixed-use projects in recent years. Other examples include Brightview West End in Maryland’s Rockville Town Square and Anthology Senior Living’s presence in a mixed-use development in King of Prussia, Pennsylvania.

Welltower has been an active player in driving this trend, which is due to several factors, including the decline of in-person retail.

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Brookdale Senior Living Completes $100 Million Refinancing, Prepays 2022 Debt

Nick Andrews — Tue, 21 Dec 2021 20:13:26 GMT

Brookdale Senior Living (NYSE: BKD) wrapped up 2021 by completing a pair of significant moves; completing a $100 million refinancing and prepaying substantially all of its remaining 2022 maturities.

“By proactively prepaying substantially all remaining 2022 maturities early, we will save several million dollars of negative carry,” Brookdale Executive Vice President and CFO Steven Swain said in a press release issued Tuesday.

Brookdale plans to refinance newly unencumbered communities with lower-leverage mortgage debt, accruing to Swain.

The new $100 million of mortgage debt came from Capital One, National Association; CBRE Capital Markets served as the financial advisor for Brookdale to obtain the loan.

The first-priority, non-recourse mortgages were secured by 11 communities, which previously were financed with $143 million in Fannie Mae loans maturing in the first quarter of 2022.

The moves are the latest financing actions for the largest senior living provider in the country, which operates more than 680 communities in 41 states.

“We’ve taken multiple steps in the last two quarters to enhance liquidity,” said Swain.

One such move Brookdale made to enhance liquidity was offering $200 million in convertible senior notes due on Oct. 15, 2026.

The company also sold 80% of its home and hospice business to HCA Healthcare (NYSE: HCA), the nation’s largest hospital system. The sale resulted in over $300 million in net cash proceeds, as reported by Senior Housing News. Prior to that move, Brookdale’s liquidity exceeded $380 million.

Brookdale also recently posted its November 2021 occupancy numbers, showing that the weighted average occupancy of its portfolio was more than 73%, the ninth consecutive month of growth and the first month since the pandemic began that saw year-over-year growth.

The fourth-quarter average occupancy will be 90 basis points higher than third-quarter averages if December holds, according to Stifel analysts.

Brookdale’s liquidity and “above-historical” occupancy growth provide the firm with runway should pandemic-related economic hardships persist.

And, the company is pursuing rate growth to boost revenue-per-occupied room, with Brookdale CEO Cindy Baier bullish on the prospects for strong top-line performance in 2022.

The post Brookdale Senior Living Completes $100 Million Refinancing, Prepays 2022 Debt appeared first on Senior Housing News.

Transactions: CIT Finds $34 Million for AZ Senior Community; Ziegler Prices Ohio Living Bonds

Nick Andrews — Mon, 20 Dec 2021 22:14:08 GMT

Financings

Regions closes on $21 million for construction

The healthcare real estate team of Regions Bank closed on a loan for more than $21.7 million at approximately $271,000 for new construction.

The loan will build an 80-unit community located in Los Angeles County.

The borrowers are a joint venture that includes a developer/owner, a partner/operator, and a private exquisite firm.

CIT arranges $34 million for AZ refinancing

New York City-based national bank CIT Group (NYSE: CIT) announced that its healthcare finance business arranged $34 million to refinance a senior housing community in Chandler, Arizona.

The community, called the Enclaves at Chandler, is owned and operated by Denver-based Spectrum Retirement Communities.

It has 162 units and offers independent living, assisted living, and memory care services.

Ziegler prices Ohio Living bonds at $40 million

Chicago-based investment bank, Ziegler announced the successful pricing of series 2022 bonds for Ohio Living.

Ohio Living operates a dozen senior communities in Ohio including nine life plan communities. The 2022 bonds will be used to refund the series 2013A bonds as well as to pay some of the costs of issuance associated with the financing.

Several of Ohio Living’s current investors approved the credits, but did not participate in the offering due to tight credit spreads, according to a release from Ziegler.

Greystone gets $30 million for NC active adult complex

New York City-based national commercial real estate finance firm Greystone announced more than $30 million in financing for the construction of The Aspens at Holly Springs in Holly Springs, North Carolina.

The Aspens at Holly Springs by Aspens Senior Living will have 159 active adult units in a complex that will also include an outdoor pool, a lounger and bistro, a wellness center, a fitness center, and a theatre.

Carnegie Capital gets financing for planned assisted living community

Austin Texas-based Carnegie Capital announced it has secured financing for an assisted living community in a secondary market near Charlotte.

In the process, Carnegie paid off all notes and provided the sponsor with a substantial cash out.

The new appraised value was 5% higher than the sponsor’s existing appraised value, which was completed approximately one year ago.

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Westmont Living President Bullish on Development, Adding Primary Care to Communities

Tim Regan — Mon, 20 Dec 2021 21:56:28 GMT

Earlier this year, the lofty price of new construction drove many senior living companies to shift their growth strategies in favor of acquisitions. Not Westmont Living.

With all but two of its 17 communities in California, Westmont’s acquisition targets are limited due to that state’s higher barriers to entry. But thanks to an in-house construction arm, Westmont Construction, the company has the flexibility and expertise to build where it makes sense, according to President Andy Plant.

“As we can get the right locations and have the right financing in place and the right capital structure, we’re in favor of building,” Plant said during an appearance on the Senior Housing News podcast, Transform.

With an occupancy recovery of a little more than 100 basis points per month and high levels of staff and resident vaccinations, Plant is bullish on the future of Westmont. And the company is taking that momentum into 2022 with new initiatives including adding primary care clinics to communities under a partnership with Pine Park Health.

Highlights of Plant’s podcast interview are below, edited for length and clarity. Subscribe to Transform via Apple Podcasts and SoundCloud. The interview took place in early December.

On how 2021 has gone so far and why Westmont eschews third-party management:

We had our challenges, as every company did in 2020 and 2021. But we feel we’ve been making great strides and 2021. Eleven of the 12 months have been net positive in terms of gains, so we’re extremely excited about that. And that’s on top of opening up four new communities this year. So we’re very bullish coming out of the heat of the pandemic and looking forward to 2022.

We want to focus our resources where we think it’s most important, and we like to speak with one voice and not have multiple owners trying to give direction to where the priorities are and where leaders need to focus. We’re trying to be a very focused company, and to become an increasingly strong regional operator in California.

We had a central stockpile early on of PPE, we had daily phone calls with our executive directors to get everyone on the same page in terms of protocols. We’ve had regular updates throughout the pandemic, and it’s brought us together as a team, going through this journey. We feel that it has a huge benefit that we don’t have the private equity parties and the public REITs directing us to the extent that many of our competitors do.

On staffing pressures:

We did not go to hazard pay to try to retain workers and motivate them during the pandemic, but we did bring them family meals. We’d have family nights where we’d have special meals for family members to bring home and things like that. And that did make a difference in terms of esprit de corps.

We’re moving forward and we’re really focusing on how we can improve our onboarding, our training and our support. Because our team members certainly are what we’re all about. And that’s what our customer counts on, and they’re everything to us.

We see the labor issues continuing moving forward, particularly in dining with cooks and with nursing and caregivers. We’re just trying to aggressively increase our pay and be competitive and see what we can do in terms of becoming a better employer. We’ve had a match with our 401k, but we’re going to auto enrollment.

We’re doing other little things throughout the organization to try to be more team member friendly. If people want to get paid by the day, they can easily do that using a phone app. We’re just trying to be more employee-centric.

On whether current wages are the new wage floor:

Absolutely. Immigration is down, you’ve got an aging population. We have more senior living communities, more people as they age need caregivers at home – there’s just going to be a lower ratio of caregivers to people that need care. This is just the reality, and we just need to adjust and be strong in what we do.

We’re in a favorable position compared to home care companies that need much more staffing. I think it gives us a competitive advantage in a community where we can leverage our staffing over a larger community.

On being a regional operator:

Our first community, we built in the mid ‘90s in Oregon. That’s still with us, but we live in California. And so we’ve made that our focus. The real benefit is that our team is here. If it’s HR support, we can get out to a community. If it’s IT support, if it’s operations, dining, maintenance, we can be there and have a presence in the communities.

We have three regions: a northern California region, a southern California region and a central coast region. Most of our regional support team can drive to the communities, they’re not getting on planes. We feel that it’s better in terms of our corporate culture as well. Just because we’re closer together.

We feel when you get too big, it’s sort of hard to have a pulse on the operations. And secondly, we’re in California, where there’s a lot of barriers to entry. So we’ve sort of grown strategically where we’ve tried to find locations that were within our trade areas and then also met our demographic parameters. We don’t really see being able to grow immensely, nor do we really want to.

On the benefits of having an in-house construction arm, Westmont Construction:

We focused on some remodels of some of our existing communities and addressing how we could isolate residents better, making minor tweaks to our communities to try to be better prepared and do a better job.

Moving forward, we use our construction company to increase our knowledge, because we have plans that we work with, standard units. It’s helped us to build communities that are consistent with what we want, and to not have a lot of surprises by switching contractors from project to project.

We’re continuing to build communities. We have a project planned in the San Luis Obispo area, where we have a project that will break ground in January in Culver City, near Los Angeles. And then we have one under construction in Carmel Valley in San Diego, just east of Del Mar. A couple of those projects will open in 2023.

We feel that, in California, there are barriers to entry. There aren’t that many quality opportunities to buy. So if you’re going to expand, you need to have flexibility to be able to build, as well. Our biggest operating costs are really labor. We understand construction costs are going up, and we don’t expect that they’re going to be going down in the future because there’s a labor shortage in construction, as well. So it’s just a reality that we’ll live with and manage through, and as long as we can get the right locations and have the right financing in place and the right capital structure, we’re in favor of building where it works within our clusters.

On digital leads and using technology during the pandemic:

We are increasingly using more and more digital [functions] as time goes by. There are more channels out there to reach customers. Two of the channels that we’ve increased our spend on are Facebook and Google My Business. We’ve moved completely away from print, and it’s all digital. We’re very optimistic about that, and we would rather increase our spend dramatically, than get leads from the paid referral sources.

The real key is the salespeople at the communities, that quick response to the leads and then following through with the leads. Speed to lead is important. If you’re not responsive, folks are looking on the internet, and they’re looking at multiple options very quickly. And if you’re not first to respond, you’re at a disadvantage from the start.

During the pandemic, we rolled out LifeLoop in our communities to increase communication with our residents and families. That was very effective for us, and we’re using it for emergency communication, as well. In terms of moving forward, what we have is a full-time person in our office who focuses on business intelligence — dashboards that are actionable, that allow our corporate team and our managers at the community level to have visibility on what they’re doing; whether it’s a screen that would show nurse call response times or hospital readmissions, or trends in terms of sales and marketing, instead of them having to gather the information and connect the dots. We’ve done that through reporting, and we’re in a better position to act on it as a team.

Moving forward, one of our goals in 2022 is to increase our team’s training, because we’ve got lots of great tools out there. And, to make sure we’re utilizing these tools the best we can moving forward.

On the threat of the omicron variant, and what’s ahead in 2022:

We’re confident at this point that we’ve got a good playbook together in terms of protocols and that we’ll pivot if there are things that come up.

We had a community in Northern California where all the staff were vaccinated, all our residents were vaccinated, and we still had a case of Covid. Then when we tested everyone, there were six cases. So, we realized that there are going to be issues that come up as we move forward, and it’s going to continue. More than 60% of [California] at this point is vaccinated. We’re just going to have to realize that the general world is still very vulnerable until we get much higher vaccination rates.

We have a couple of planned initiatives [for 2022]. We put therapy services in all of our communities, and we’re also putting primary care clinics in our communities, as well.

We really want to be the one-stop-shop for our residents. If they’re being discharged from the hospital and they’ve had a knee replacement, they don’t have to go to the nursing home. They can come to our community and they can get rehab services, live there and we’re their home. They don’t have to go out for services or coordinate with third parties.

We’re also setting up primary care offices in our communities so that if someone wants to see a physician, they can do that there as opposed to going out. They may have their own physician, as well, and this could be secondary, but that’s fine. We just want to broaden their services and be able to serve our customers the best way possible. We’re working with Pine Park Health, and they have contracts through Medicare Advantage with a number of the Medicare Advantage plans. And so, we can offer that to our residents.

We’re hoping that 2022 is the year where things get back to more normalcy. We’re encouraged by the Merck pill and additional therapies that are coming out.

We’ve had a mandate for our staff in place, and our team members are vaccinated and our residents are vaccinated. So we’re very bullish moving forward, and we’ve been growing occupancy better than a percent a month in 2021. We anticipate that continuing in the new year.

The post Westmont Living President Bullish on Development, Adding Primary Care to Communities appeared first on Senior Housing News.

Transform Podcast #67: Andy Plant of Westmont Living

Mick Stahlberg — Mon, 20 Dec 2021 20:21:05 GMT

The high price of new construction drove many senior living companies to shift their growth strategies in favor of acquisitions in 2021. But Westmont Living has the flexibility and expertise to build, and the company has several new projects underway, according to President Andy Plant.

With a new year on the horizon, Westmont Living is looking ahead to further growth. And to that end, the company is broadening its services by bringing primary care and other capabilities into its communities.

In this episode of Transform, learn:

— How Westmont grew occupancy at a rate of about 1% per month in 2021

— How digital marketing is playing a growing role in the company’s sales efforts

— Why Westmont is adding primary care offices to its communities

Subscribe to Transform to be notified when new episodes are released.

Listen today!
Apple Podcasts
Google Play
SoundCloud

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Kisco CEO: Rapid Occupancy Recovery Surprising, More Customized Resident Experience a Priority

Tim Mullaney — Sun, 19 Dec 2021 22:11:07 GMT

With a recently announced development joint venture with Welltower (NYSE: WELL) and a strong occupancy recovery underway, Kisco Senior Living Founder and CEO Andy Kohlberg is bullish about the future.

“We’ve averaged three-and-a-half times the number of net move-ins in 2021 than we did in 2019 … It’s gone surprisingly well,” Kohlberg said during a recent SHN+ TALKS appearance.

Occupancy is back to around 90% across Carlsbad, California-based Kisco’s portfolio of 20 communities, with the rebound roughly even across different levels of care.

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Five Star Partners With DispatchHealth to Bring Acute Care to Residents

Tim Regan — Sun, 19 Dec 2021 21:08:45 GMT

Five Star Senior Living (NYSE: FVE) is collaborating with DispatchHealth in an effort to provide acute care for residents living in Five Star communities.

Under the partnership, DispatchHealth workers will provide same-day aid to residents living in independent living, assisted living and memory care. Services include treatment for infections; asthma attacks; wounds, bed sores and pressure ulcers; and minor fractures and sprains.

Five Star residents, executive directors or caregivers can request DispatchHealth’s services online or over the phone.

The new partnership comes after a pilot program during the first half of 2021 between the in-home medical services provider and the Newton, Massachusetts-based senior living operator. Leaders with Five Star said the program helped reduce emergency room visits for residents. And because the program’s services are covered by most insurance plans, more than 85% of Five Star residents had no out-of-pocket expenses using DispatchHealth, the operator noted.

DispatchHealth is already working in 25 Five Star communities, and the operator plans to expand the program to more than 40 communities by the end of the year, with more expected growth on the way in 2022.

“As DispatchHealth’s U.S. footprint grows, we look forward to expanding our partnership and making this unparalleled medical service available to as many of our valued residents as possible,” Five Star President and CEO Katie Potter said in a press release. “This partnership is another example of our efforts to evolve and differentiate the resident experience in Five Star communities.”

Five Star’s partnership with DispatchHealth is part of a larger trend in the senior living industry of operators finding ways to provide acute or primary care in the communities where residents live.

DispatchHealth has also worked with another senior living provider in the past, Christian Living Communities. The partnership helped CLC bring down resident turnover.

Partnerships with other companies in and adjacent to the senior living industry are expected to be a larger part of Five Star’s strategy going forward. Earlier this month, the operator partnered with Compass Group, and plans to transition its culinary program to the senior living dining services company.

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Harrison Street, Watermark: Investors, Consumers Raise Bar On How Senior Living Buildings Promote Wellness

Nick Andrews — Thu, 16 Dec 2021 23:09:28 GMT

Improving air quality and tightening infection control standards for senior housing became paramount in the throes of the Covid-19 pandemic.

Now, the bar has been raised on how a senior living environment can and should foster health and wellness for senior living residents and workers.

Two players in the space, private equity firm Harrison Street and operator Watermark Retirement, are using the perspective gained to improve the standards of their portfolios.

And the improved standards may impact the bottom line as well as the daily lives of residents.

“We’re at a point where we can’t use Covid as an excuse anymore. We need to start thinking about how we can really thrive in whatever this new normal is,” said Harrison Street Chief Impact Officer Jill Brosig at the 2021 Senior Housing News BUILD event in Chicago.

That new normal will likely include improved design standards and a continued effort to attain various building certifications.

Earlier this year, Harrison Street announced a goal of earning Fitwel certification across more than 500 properties including many in senior housing, as reported by SHN.

Among Harrison Street’s operating partners is Tucson, Arizona-based Watermark. Chairman David Freshwater announced an ambitious goal at the 2020 Senior Housing News BUILD virtual event, wherein he said the operator aims to be the “Tesla of senior housing” by pursuing “precision wellness.”

One year later, at the recent BUILD 2021, Watermark Chief Investment Officer Bryan Schachter spoke on health and wellness updates. As Watermark builds out its luxury Elan Collection of communities, the company is incorporating innovative wellness-oriented features, while also pursuing healthy buildings at other price points.

Certifications and design

Fitwel is a healthy building certification that was created by the Centers for Disease Control and Prevention (CDC) and the General Services Administration (GSA). The Center for Active Design (CfAD) took over the Fitwel program from the CDC.

Harrison Street approached Fitwel more than three years ago to learn more about the Fitwel standards for buildings such as offices. Leaders with the private equity firm realized that the standards were not a perfect fit for senior housing.

“There were standards in there such as encouraging people to walk up and down the stairs, or to walk for a distance away from your building,” said Brosig. “We didn’t think that applied well to someone in a wheelchair or someone that might have dementia.”

The firm then worked with Fitwel for months to create a scorecard meant for the senior housing space but didn’t take away from the intent of the CDC’s original certification.

In February 2021, Fitwel announced there was a new commercially available Fitwel healthy building scorecard made specifically for senior spaces.

Currently, more than 200 Harrison Street buildings have earned Fitwel certification, surpassing its goal of 200 by the end of 2021. Of those, approximately 65% are senior living communities, according to Brosig.

To attain such a certification, buildings must address certain standards for indoor air quality, lighting, walkability, access to healthy foods, comfort and temperature, and other factors.

As a Harrison Street partner, Watermark is part of the effort to attain Fitwel certification — but Fitwel is not the only healthy building standard out there, and the operator’s other capital partners have their own expectations and preferred frameworks baked into management agreements.

Watermark Chief Investment Officer Bryan Schachter

Watermark works with such firms as Kayne Anderson, Goldman Sachs, Prudential, Intercontinental, Welltower, and Harrison Street.

“I would say that Harrison Street has been the most specific with regard to ESG [environmental, social, governance] expectations,” said Schachter. “But we have started to field those questions and understand what needs to be implemented moving forward.”

The bottom line

The reasoning behind Harrison Street’s goal of 500 healthy building certifications is twofold:

A certification with CDC roots is a competitive advantage.
Harrison Street wants to set a portfolio-wide standard.

“If [our properties] are able to advertise to tenants and staff and residents that this building has been blessed by the CDC as being healthy, we thought that was a powerful differentiator,” Brosig said.

But in addition to market differentiation, increasing focus on ESG among investors also motivated the push for certification.

“There’s a lot more pressure from our investors,” said Brosig. “They want us to do ESG, but they also want us to demonstrate that there is some ROI.”

Harrison Street solicited research help from the Massachusetts Institute of Technology (MIT). MIT found that health certification has value.

The MIT research suggests that operators can charge 4%-7% more rent per square foot in buildings that boast a health certification compared with buildings that don’t have a similar certification, according to Brosig, who made it clear that her aim is not to improve standards so as to raise the price of rent.

“But it demonstrates that there’s a value there,” she said.

Measuring the exact ROI of certain wellness-related building features is difficult, Schachter pointed out. For instance, Watermark’s recently opened Brooklyn Heights community includes “experiential gardens” for memory care — it’s hard to pinpoint the return on that investment. Other Watermark communities include stables for equine therapy, which the provider viewed as a potential loss leader, but also a market differentiator that would drive demand.

“We’re doing some things that residents didn’t expect us to do in the past,” Schacter said.

Innovation and collaboration

Watermark aims to deliver on its wellness initiatives for the middle market and projects in secondary and tertiary markets, as well as its higher-end products.

“There are certainly some challenges in a more affordable product,” said Schachter.

From an operational perspective, it’s important to focus not on what can’t be done, but what can be done to hit on the initiative that the company is trying to deliver in our higher-end products, he said.

One example is how a single change in a resident’s medication can impact other areas of their life. The solution for Watermark is dedicated staff members focused on wellness-related issues — essentially, a wellness coach. In higher-end communities, that might be a higher-level position, whereas the profile of that role might be somewhat different in a more moderately priced community.

Harrison Street’s Jill Brosig and Watermark’s Bryan Schachter

Harrison Street is also aiming to help detect medical changes within its resident population.

“We’re using a new tool – an AI tool – that allows you to detect and predict cognitive health,” said Brosig. “This could be anything from Alzheimer’s and dementia to PTSD, depression, or schizophrenia.”

The AI can detect the change and alert caregivers and give the staff the ability to be proactive in their care.

Harrison Street works with more than 70 operating partners, more than a third of which are in the senior housing space and all of which are in their own specific phase of their business life. So, it’s a unique challenge to implement a particular healthy building standard across all these different types of enterprises.

Harrison Street wants to assist in any way possible, so the firm holds an annual conference to discuss best practices and collectively work through the challenges that they’re facing including the movement toward ESG standards.

But, the investment firm doesn’t force certifications on any of its operating partners, she pointed out. The firm may “strongly encourage” certification but is also cognizant of the need for effective change management, Brosig said.

“We want them to feel that they’re a part of it,” she said.

The post Harrison Street, Watermark: Investors, Consumers Raise Bar On How Senior Living Buildings Promote Wellness appeared first on Senior Housing News.

In the Pipeline: 2Life Debuts Plans for First Opus Community; LCS Expanding North Carolina Life Plan Community

Tim Regan — Thu, 16 Dec 2021 21:02:31 GMT

In the Pipeline is brought to you by the Senior Housing News Architecture & Design Awards, an annual competition that recognizes cutting-edge design, excellence, and innovation in senior living.

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The post In the Pipeline: 2Life Debuts Plans for First Opus Community; LCS Expanding North Carolina Life Plan Community appeared first on Senior Housing News.

5 Tips For Seniors To Stay Active in the Winter

thaughton@umh.org (Tracey Haughton) — Mon, 06 Dec 2021 18:06:00 GMT

Winter is a great time to stay active and enjoy the outdoors. However, with cold weather and shorter days, it can be hard to find the motivation to do so. Whether you’re a senior citizen looking for a way to stay warm or just someone who wants some helpful ideas on staying active during this time of year, these 5 tips will help you stay happy and healthy this winter.

Yuletide Tips for Senior Caregivers to Ease Seasonal Stress

msalvesen@umh.org (Marissa Salvesen) — Mon, 06 Dec 2021 17:45:35 GMT

Often, the responsibility of caring for a senior involves navigating a precarious balancing act. From work and family life to the many activities associated with senior caregiving, there’s no shortage of priorities fighting for your attention. Then, here come the holidays—a time traditionally thought to bring joy and peace, but which usually makes the to-do list of a senior caregiver that much longer and more complex.

Expert Answers to the Most Common Memory Care Questions

ebemis@umh.org (Elizabeth Bemis) — Mon, 06 Dec 2021 17:26:46 GMT

The possibility that a loved one may be developing Alzheimer’s disease or another memory impairment can feel overwhelming. With age, a reduction in cognitive ability naturally occurs, but more significant declines in memory are cause for concern. And if you’re already caring for someone with a progressive neurodegenerative condition, you understand how challenging it can be. Given the physical and emotional toll such a responsibility can begin to take on a caregiver, it’s no surprise that many begin to seek out options for support.

5 Compelling Reasons to Be Thankful for Senior Living Community Caregivers

ebemis@umh.org (Elizabeth Bemis) — Mon, 08 Nov 2021 20:14:05 GMT

As parents and aging loved ones transition into their senior years, there may be health and lifestyle challenges that eventually make living on their own an unsafe or impractical option. This doesn’t mean they can no longer maintain a sense of independence or live life to the fullest. It simply means that having access to a higher level of care is what makes sense at that time.

Insights Into Fall Prevention for Seniors with Alzheimer’s or Dementia

msalvesen@umh.org (Marissa Salvesen) — Mon, 08 Nov 2021 20:12:32 GMT

About one in every four seniors falls at least once a year, and the occurrence is even more common among those with memory and cognitive decline. With Alzheimer’s, for example, impairments in vision, perception, and balance increase as the disease progresses, making the risk of a fall that much more probable.

Fun Fall Activities For Seniors

thaughton@umh.org (Tracey Haughton) — Wed, 13 Oct 2021 17:14:41 GMT

As the weather cools and the warm, brilliant hues of Autumn begin to cover the landscape, our thoughts automatically run to pumpkins, apples, and spice from lattes to donuts we begin to crave, and can't wait to indulge in the abundance of the season. Some people believe that the cooling temperature means it is time for seniors to head indoors and pull out the puzzles, knitting kits, and other forms of indoor entertainment. But not so fast. There is still more fun to be had outside. The fall is an opportune time for seniors to get out and enjoy outdoor recreations. Let explore a few.

10 Ideas for Seniors to Reignite Their Sense of Play

ebemis@umh.org (Elizabeth Bemis) — Wed, 13 Oct 2021 17:12:29 GMT

In a recent post, we explored The Truth About Play & Why It’s Not Just for Children, detailing how the practice of play impacts the human mind, body, and soul—and why it’s so important for seniors to engage in play regularly. From neurology to physiology and psychology, the benefits of play for seniors are clear and present, which is why this topic has become such a popular one. But as people age, they often lose their sense of play and its priority in their lives. Here, we’re exploring 10 inspiring ways to help seniors reignite their sense of play and find the fun again.

The Key to Finding Purpose in One’s Senior Years

msalvesen@umh.org (Marissa Salvesen) — Wed, 13 Oct 2021 17:08:11 GMT

“For the meaning of life differs from man to man, from day to day and from hour to hour. What matters, therefore, is not the meaning of life in general but rather the specific meaning of a person's life at a given moment.”

This powerful quote comes from the well-known book, Man’s Search for Meaning, by the revered Holocaust survivor Viktor Frankl. It touches on the human nature of finding purpose and meaning in one’s life—a challenge that can become more elusive as we age. In one of our recent articles, we discussed The Undeniable Link Between Having Purpose & Aging Well, which explored some of the fundamental reasons why it’s important for seniors to stay connected to their sense of purpose.

The Undeniable Link Between Having Purpose & Aging Well

msalvesen@umh.org (Marissa Salvesen) — Mon, 13 Sep 2021 14:57:53 GMT

There’s no shortage of reasons why older adults have a difficult time maintaining a strong connection to their inner purpose. With career goals set squarely in the rearview mirror and an empty nest on the road ahead, it’s no surprise that many seniors begin to lose some sense of purpose in their day-to-day lives. But research has shown that seniors with a sense of purpose are less likely to develop Alzheimer's disease, mild cognitive impairment, disabilities, heart attacks, and strokes, and are more likely to live longer than people without this kind of underlying motivation.

The Truth About Play & Why It’s Not Just for Children

ebemis@umh.org (Elizabeth Bemis) — Mon, 13 Sep 2021 14:49:49 GMT

In childhood, play is practically a way of life. It’s how kids relate to one another, how they spend their free time, how they discover the world around them. As we age, however, play seems to become less and less of a focus in our everyday lives. Work and responsibility begin to take center stage, and play is often relegated to a tiny corner of our minds. The truth is play remains as valuable and important as ever, regardless of age. In fact, learning to reprioritize play can bring about major benefits for seniors in terms of health and wellbeing.

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Syracuse Nursing Home James Square Receives Excellent 5 Star Review

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James Square Syracuse Nursing Careers Great 5 Star Review by Trisha T.

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James Square Syracuse Nursing Home 5 Star Review by Alice A.

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James Square Health & Rehab Syracuse New York Perfect 5 Star Review by Caroline V.

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James Square Skilled Nursing Facility Syracuse Excellent 5 Star Review by Heather F.

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James Square Syracuse Eldercare Nursing Home Superb 5 Star Review by Rashonda M.

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Faces of James Square: Breast Cancer Awareness Wear Pink Day

noreply@blogger.com — Thu, 26 Oct 2017 07:28:00 GMT

October 20th was a big day for nurses and staff at James Square in Syracuse. Employees celebrated Breast Cancer Awareness Month by wearing pink. Employees joined thousands of people throughout the U.S. to bring awareness and raise funds for breast cancer research.

And here are the “pretty in pink” employees of James Square that bring compassionate, quality care to patients.

The post Faces of James Square: Breast Cancer Awareness Wear Pink Day appeared first on James Square Syracuse.

James Square Syracuse Nursing Jobs Outstanding 5 Star Review by Betsy S.

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Syracuse Nursing Home James Square Wonderful Five Star Review by Barton B.

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Clinical Case Manager

noreply@blogger.com — Wed, 18 Oct 2017 10:58:00 GMT

Clinical Case Manager Job Opening at James Square Syracuse

Exempt status, primarily Monday-Friday, days Must be available for on-call nights, weekends, and holiday when necessary as a part of a 24/7 health care facility. LPN or RN License and previous Long-Term Care/Rehabilitation experience.

Duties include:

Assessing, monitoring, and re-evaluating assigned residents for nutritional status.
Follow-up phone calls regarding bed vacancies to area discharge planners will be done in addition to the fax procedure.
Must be organized and able to compile information quickly and efficiently so it can be relayed to the necessary parties timely (Admission Screeners and all necessary Departments as well as the corporate office).
Will be knowledgeable in Medicare requirements and insurance providers, i.e. HMO rules, Medicare rules, RUGS II & Ill and Medicare D prescription plans.
Insurance information is to be obtained when possible at the time a referral is called in. If insurance information is not available, the Screener will be notified to obtain information immediately and call/fax the information to the Admissions Director in order to obtain proper insurance verification.
Admit patient to facility by having responsible party or resident sign admission packet within 48 business hours. Responsible for all census development and communication to the supervisory and Administrative staff.
Maintain a sound filing system as devised with the supervisor.
Utilize software to screen and develop admissions thoroughly vet properly individuals prior to admission to ensure the facility can clinically accommodate the level of care needed.
Act as liaison between the facility and family members during the pre-admission and admissions process.
Give tours when necessary.
Upon admission, refer family members to appropriate Department Heads depending on specific needs, A log of all referrals in response to bed vacancies will be kept daily. This will be shared with the Admissions team and Administrators to assess response.
Must be able to cope with the mental and emotional stress of the position.
Ability to relate to and work with the ill, disabled, elderly, emotionally upset, and hostile individuals.
At the time of admission, will meet with families with empathy to assure all necessary forms are completed and will coordinate with the Corporate Business Office to assure all necessary documents are received.
Obtain the following information from all potential residents: PRI, completed admission application when applicable, bank statements and financial support statements if required and proper insurance verification.
Will assure that all departments receive necessary information to prepare for admission (i.e.medications, treatments and any special needs).
Promote and maintain a customer service approach at all times with empathy and a caring attitude.
Must be punctual with good attendance.
Must be flexible to allow for daily admissions.
Will be on – call on a rotational basis with the other members of the Admissions Team.
Adhere to all facility Policy and Procedures.
Maintain confidentiality of all resident information.
Ensure that the resident’s rights to fair and equitable treatment, self-determination, individuality, privacy, property and civil rights, including right to wage complaint, are well established and maintained at all times.
Uphold and adhere to all department, facility and Corporate policies and procedures.
Be able to generate necessary computer reports.
Miscellaneous duties as required by facility.

Apply Online

The post Clinical Case Manager appeared first on James Square Syracuse.

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James Square Syracuse Nursing Home

10 Most-Read Senior Housing News Stories of 2021

1. Atria to Acquire Holiday Retirement as Welltower Buys 86 Properties for $1.6B

2. Eclipse Senior Living to Shut Down Corporate Operation By End of Q1 2022

3. Memory Care Innovations Take Hold In Wake Of Covid-19

4. ‘The Risk is Significant’: Delta Variant Threatens Senior Living Industry’s Covid-19 Recovery

5. Valued at $4.4B in SPAC Deal, Cano Health Sees Future in Senior Living Partnerships

6. More Senior Living Providers Impose Staff Mandates As Covid-19 Vaccination Lags

7. Welltower to Acquire 4 Senior Housing Portfolios for $1.3 Billion

8. Value-Based Care Innovator Lifesprk to Acquire Tealwood Senior Living; Bill Thomas to Lead Creation of Operational Model

9. Ventas to Acquire New Senior Investment Group in $2.3B Transaction

10. How Intergenerational Living Is Shaping New Senior Housing Models Post-Pandemic

$350 Million Mixed-Use Project Moves Ahead with Atria, Welltower On Board

Brookdale Senior Living Completes $100 Million Refinancing, Prepays 2022 Debt

Transactions: CIT Finds $34 Million for AZ Senior Community; Ziegler Prices Ohio Living Bonds

Financings

Regions closes on $21 million for construction

CIT arranges $34 million for AZ refinancing

Ziegler prices Ohio Living bonds at $40 million

Greystone gets $30 million for NC active adult complex

Carnegie Capital gets financing for planned assisted living community

Westmont Living President Bullish on Development, Adding Primary Care to Communities

On how 2021 has gone so far and why Westmont eschews third-party management:

On staffing pressures:

On whether current wages are the new wage floor:

On being a regional operator:

On the benefits of having an in-house construction arm, Westmont Construction:

On digital leads and using technology during the pandemic:

On the threat of the omicron variant, and what’s ahead in 2022:

Transform Podcast #67: Andy Plant of Westmont Living

Kisco CEO: Rapid Occupancy Recovery Surprising, More Customized Resident Experience a Priority

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Five Star Partners With DispatchHealth to Bring Acute Care to Residents

Harrison Street, Watermark: Investors, Consumers Raise Bar On How Senior Living Buildings Promote Wellness

Certifications and design

The bottom line

Innovation and collaboration

In the Pipeline: 2Life Debuts Plans for First Opus Community; LCS Expanding North Carolina Life Plan Community

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Individual Membership$400 per year

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5 Tips For Seniors To Stay Active in the Winter

Yuletide Tips for Senior Caregivers to Ease Seasonal Stress

Expert Answers to the Most Common Memory Care Questions

5 Compelling Reasons to Be Thankful for Senior Living Community Caregivers

Insights Into Fall Prevention for Seniors with Alzheimer’s or Dementia

Fun Fall Activities For Seniors

10 Ideas for Seniors to Reignite Their Sense of Play

The Key to Finding Purpose in One’s Senior Years

The Undeniable Link Between Having Purpose & Aging Well

The Truth About Play & Why It’s Not Just for Children

Pinned to James Square Syracuse on Pinterest

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Syracuse Nursing Home James Square Receives Excellent 5 Star Review

Syracuse Rehabilitation Center & Nursing Home Perfect Five Star Review by Grace H.

Syracuse Nursing Home & Rehab Center James Square Superb 5 Star Review by Dave R.

Syracuse Nursing Home James Square Terrific Five Star Review by Michael ...

James Square Reviews - Syracuse Nursing Home & Rehab Incredible Five Star Review by Rose W...

James Square Syracuse Nursing Careers Great 5 Star Review by Trisha T.

James Square Syracuse Nursing Home 5 Star Review by Alice A.

James Square Syracuse Review - Terrific Five Star Nursing Home by Darrell

43 Energy Boosting Food And Lifestyle Choices You Can Make Today

James Square Syracuse Nursing Jobs Review Remarkable 5 Star Review by Orselina ...

James Square Health & Rehab Syracuse New York Perfect 5 Star Review by Caroline V.

James Square Syracuse Nursing Home Review Impressive Five Stars by Keri B...

Nursing Job Review Syracuse James Square Excellent Five Star Review by Vanessa...

James Square Skilled Nursing Facility Syracuse Excellent 5 Star Review by Heather F.

James Square Syracuse Eldercare Nursing Home Superb 5 Star Review by Rashonda M.

James Square Health & Rehab Syracuse Nursing Home & Rehab Outstanding Five Star Review by Alexa...

Faces of James Square: Breast Cancer Awareness Wear Pink Day

James Square Syracuse Nursing Jobs Outstanding 5 Star Review by Betsy S.

Syracuse Nursing Home James Square Wonderful Five Star Review by Barton B.

Clinical Case Manager

Clinical Case Manager Job Opening at James Square Syracuse

Individual Membership
$400 per year

Group
2–5 members
$360 per year*

Individual Membership
$400 per year

Group
2–5 members
$360 per year*