In mid-September 2020, even as the COVID-19 pandemic continued to drive weaker occupancy rates, higher expenses, and intense media scrutiny of the senior living sector, a ten-property senior living portfolio was successfully closed in a recapitalization and acquisition deal.
Key Takeaway: In absence of local data, feasibility analysts use the so called “70/30” rule, where 70% of a PMA’s potential residents come from within the PMA and the remaining 30% come from outside the PMA. Analysis using VisionLTC data, powered by NIC MAP Vision, shows the story is not that simple.
On March 10, the House passed the American Rescue Plan, the $1.9 trillion economic relief bill aimed at helping the country recover from the ongoing coronavirus pandemic. On March 11, President Biden signed the bill into law.
“The pandemic has necessitated many changes in the way seniors housing and care operators do business. In the NIC Executive Survey Insights Wave 23 results, respondents were asked to list one of the things that their organization plans to keep doing, stop doing, bring back and further develop. In addition to maintaining COVID-19 and infection mitigation protocols, organizations will continue leveraging virtual technologies for a variety of uses including digital marketing campaigns, entertainment, remote visits, and some activities. With 80% of survey respondents’ residents fully vaccinated on average, seniors housing and care operators are looking forward to bringing back communal dining, group activities, resident/employee gatherings, and discontinuing visitation restrictions, meal delivery, pandemic staff benefits, and frequent COVID-19 testing.”