Seniors Housing Business

AUG-SEP 2018

Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.

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Editor's Letter 6 www.seniorshousingbusiness.com Seniors Housing Business n August-September 2018 Twenty years ago, independent living was the darling of the indus- try. At a time when seniors housing was still a fledgling property sector and not particularly well understood by most Americans, independent liv- ing held a distinct advantage. It was the product type that most closely resembled the traditional apartment complex, recalls Richard Thomas, senior vice president and seniors housing product manager with Grandbridge Real Estate Capital. In the late 2000s, the Great Reces- sion struck the housing market hard, causing home values to plummet. The development of independent living communities slowed to a trickle as demand dropped sharply. But it's a different market today. "With the resurgence in the housing market across most of the country, we're seeing what appears to be a resurgence in the need and demand for independent living at the same time, and the occupancy seems to bear that out," says Thomas. The average occupancy rate for independent living communities across 31 primary markets tracked by NIC was 90.2 per- cent in the second quar- ter compared with 85.2 percent for assisted living. A needs-based product that attracted developers like a mag- net, assisted living has arguably become a victim of its own success. (For more on overdevelopment, please turn to page 22). It looks like the development pendulum will now swing back to independent living Accompanying this issue of Seniors Housing Business is the ASHA 50 sup- plement, which features the top 50 owners and operators of U.S. seniors housing as ranked by the American Seniors Housing Association. This supplement is chock-full of useful information. Be sure to check out the Q&A with Alan Butler, CEO of Erick- son Living, regarding the company's approach to developing large-scale continuing care retirement commu- nities. Another story, which is titled "Independent Living 2.0," might pique your curiosity as well. Have we come full circle? Matt Valley H O U S I N G B U S I N E S S ® SENIORS Seniors Housing Business® (ISSN 2168-9199) is published seven times per year by France Publications, Inc., d/b/a France Media, Inc. Editorial and advertising offices are located at Two Securities Centre, 3500 Piedmont Rd., Suite 415, Atlanta, GA 30305. Telephone: 404-832-8262. E-mail: seniors@francemediainc.com. Periodical postal permit pending at Atlanta, GA, and additional mailing offices. POSTMASTER: Please send address changes to Seniors Housing Business, P.O. Box 47065, Plymouth, MN 55447-0065. ©2018 France Publications, Inc. Seniors Housing Business® is a registered trademark of France Publications, Inc. Subscription rates: USA 1 year, $78; 2 years, $112. Single copies are $15. The opinions and statements made by authors, contributors and advertisers to Seniors Housing Business are not necessarily those of the editors and publishers. To photocopy items from Seniors Housing Business in quantities of 100 or less, authorization must obtained from and a fee paid to the Copyright Clearance Center, 222 Rosewood Dr., Danvers MA 01923. Telephone: (978) 750-8400. For quantities of more than 100 or for PDFs, please contact Barbara Sherer, manager of special advertising at 404-832-8262 or bsherer@ francemediainc.com. For subscriber services, please call 1-800-869-6882 or write to: SENIORS HOUSING BUSINESS Customer Service Department P.O. Box 47065 Plymouth, MN 55447-0065; e-mail: SRHB@kmpsgroup.com Chairman and CEO Jerrold France President Scott France Chief Financial Officer Michael F. Jacobs Senior Vice President, Editorial & Operations Randall Shearin www.francemediainc.com Publisher Richard Kelley (914) 468-0818 rkelley@francemediainc.com Media Advisors (404) 832-8262 Eric Goldberg egoldberg@francemediainc.com Ryan Nixon ryan@francemediainc.com Graphic Designer Nick Topolski Editor Matt Valley (404) 832-8262 mvalley@francemediainc.com Managing Editor Jeff Shaw jshaw@francemediainc.com Contributing Writers Jane Adler Bendix Anderson Eric Taub Lynn Peisner Published by France Media, Inc. Vol. 7, No. 5 August-September 2018 sabrahealth.com What happens inside our communities matters the most. That is why we craft financing solutions and provide industry-leading business intelligence tools that help care providers optimize their business. WE INVEST IN RELATIONSHIPS.

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