Kathryn Sweeney is co-founder and managing partner of exclusively senior housing-focused real estate private equity firm Blue Moon Capital Partners. Blue Moon’s portfolio properties are now seeing a surge in occupancy rates thanks to pent up demand, she said.
Blue Moon forms joint ventures with senior housing operators and currently has partnerships with nine operators, including Aegis Living, Senior Lifestyle and Belmont Village. “The need didn’t change, the demand was there,” Sweeney said.
Isolation, Disruption
Months of isolation and disruption can be problematic for residents, but some families aren’t able to bring family members home for any number of reasons.
Joel Broder’s parents live in an assisted living facility in Arizona. They’re in their 90s, and both have dementia and are too frail to move at this point. Broder says his parents struggle to heat up dinner, which they need to do because it’s cold by the time it’s delivered, plate it and clean up.
Unable to fully grasp the situation, they keep asking when the dining room will reopen.
As frustrated as he is, Broder says he can’t move his parents out. They wouldn’t enjoy living with him, and staying where they are means access to 24-hour assistance, a benefit they’ve used multiple times, he said.
“I’m not a fool,” Broder said. “This is serious business and we have to take precautions but we also have to live lives.”
This article was provided by Bloomberg News.