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Operator of senior living facilities in the United States. The Company offers its residents access to a full continuum of services across all sectors of the senior living industry.
Most residents in an Assisted Living facility pay their rent/lease from the sale of their home. Home prices have deteriorated significantly. With less money to pay the rent/lease, expect shorter stays and more vacanciies and lower rent rolls. To try to maintain NOI, companies are squeezing already overworked and underpaid staff even more. Expect declines in services and quality of services leading to more vacancies. When times were good, kids couldn't wait to put ma and pa into an assisted living facility. However the current economy has many folks moving back home with ma and pa because they are unemployed and struggling to pay bills. <br /><br /> So if you expect a decent return on your investment with assisted living stock...it ain'happening.
All Very true! This just happened with my neighbor. The husband lost his job and was unable to maintain their own home and recently sold it at a loss after being on the market for 1 year. They moved back in with the parents. Regarding Brookdale, a friend on mine has his mom at a facility which has been without the director for several months. The service has been awful. They promised all types of programs and services to get his mom in, but they are not abiding by the contract. Look at their website, there are always 300-400 job openings at any one time. They never hire people, but pass the burden on to the existing staff. Put your money elsewhere.
Well Cody, it seems you don't know much about Brookdale. Do you know how many people it actually takes to run a community? Do you know how many properties BKD actually has? About the time you wrote your response, there were about 535. As of June 1, 2011, BKD's purchase of Horizon Bay gives them a little less than 650 communities. When you have that many locations, and in acquistion mode, then there are bound to be several job opportunities available. Let's drop this down a little further for you...if you were to look at a national website for Target, how many job oppenings do you think they would have listed? BKD is constantly hiring...
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