Front Porch and Covia to Affiliate, Creating 54-Community Organization

Two California-based senior housing nonprofits, Front Porch and Covia, have agreed to affiliate with one another. The two organizations’ boards of directors voted to affiliate on June 1. The affiliation would create a combined organization with 54 senior housing communities. Front Porch was ranked no. 22 in total unit count in the latest LeadingAge...

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Belmont Village, Greystar Form JV to Develop San Diego Senior Living Highrise

Belmont Village is teaming up with residential real estate giant Greystar to develop a 17-story senior living highrise in San Diego, in a project that is a first for both companies. The building will be the 32nd senior housing community in Belmont Village’s portfolio and marks the first time that the Houston-based company has done a joint venture...

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Welltower Disposing of $1.3 Billion In Senior Housing, Outpatient Medical Assets

Welltower (NYSE: WELL) closed on a $300 million sale of six senior housing assets at the end of May and is also disposing of a $1 billion portfolio of seven senior housing and 29 outpatient medical properties. The transactions were executed on a quick timeline of less than 45 days between signing of confidentiality agreements to closing, indicating...

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Senior Living Sales Metrics Improve But Teams May Be Missing Opportunities

Covid-19 has upended the way that senior living sales teams operate. The good news is that May numbers showed improvement over April — but there are also indications that sales pros are not using their time most efficiently and effectively. These are among the takeaways from a newly released data set from Sherpa, representing information from...

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3 Top Senior Living Redevelopment Opportunities After Covid-19

The coronavirus pandemic is sparking concerns of a real estate collapse that could surpass the one associated with the 2008 recession. But senior housing could prove resilient, and new opportunities for development could arise as other property types become increasingly beleaguered. No asset class has been left unscathed by Covid-19, but product...

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Movers & Shakers: Caddis Names New Leadership; Former Elmcroft President Joins myFamilyChannel

Movers & Shakers is brought to you by the Senior Housing News Job Board. Browse and apply to management and executive senior living jobs and positions from leading professional firms serving the industry. Employers can post single jobs, purchase job packages or our premium subscription that includes unlimited job posts and editorial coverage for...

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Former Atria Executive Krull Named CEO of New Operator Elegance Living

Senior housing developer and private equity investor Capital Health Group is launching a management arm, and tapped an Atria Senior Living veteran to lead it. Josh Krull, formerly senior vice president, operations chief of staff for Louisville, Kentucky-based Atria, was named CEO of Elegance Living, which will be based in Baltimore. Elegance...

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Sunshine Retirement CEO: We Can’t Sustain Industry-Wide Lockdown For Much Longer

Like many other senior living providers in its shoes, Sunshine Retirement Living has not received any financial assistance from the government since the pandemic began, despite Covid-19 hurting its bottom line. The provider’s occupancy has dipped 250 basis points in independent living and 800 basis points in memory care since the provider enacted...

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Senior Living Sales Teams Succeed With ‘Raw and Real’ Virtual Tours During Covid-19

Gone are the days of picture-perfect, well-choreographed tours — at least for now. In the age of Covid-19, senior living sales teams are embracing strategies that emphasize transparency, with the idea that while shiny new amenities or top-notch programming may have sold a resident or their loved ones before the pandemic, senior living customers...

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Ventas to Cut 25% of Corporate Positions, Cafaro Takes 20% Salary Reduction

Executives with Ventas Inc. (NYSE: VTR) are reducing their salaries and the Chicago-based firm is cutting about a quarter of its corporate staff as part of an effort to maintain financial strength in the midst of the Covid-19 pandemic. The real estate investment trust (REIT) is one of the largest owners of senior housing properties in the United...

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