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Community Living Opportunities

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19 reviews

About Community Living Opportunities

Over the brook, and through the dale to grandmother's house we go! Brookdale Senior Living operates assisted and independent living centers and retirement communities for middle- and upper-income elderly clients. Brookdale has about 650 facilities offering 67,000 studio, one-bedroom, and two-bedroom units in 35 states. Services for its residents include – more... meals, 24-hour emergency response, housekeeping, concierge services, transportation, and recreational activities. Brookdale's skilled nursing facilities serve Alzheimer's patients and others who require ongoing care. Chairman Wesley Edens and director Randal Nardone, both directors of Fortress Investment Group, together own 16% of Brookdale through Fortress.

Additionally, financial services conglomerate FMR LLC owns roughly 15% of the company.

Brookdale's largest markets, Florida and Texas, are home to almost 30% of its communities. Other key states include North Carolina, Ohio, and Michigan. As the company targets higher-end clients with minimal medical needs, about 80% of its revenues come from private pay customers. Some of Brookdale's facilities provide intensive nursing services that are reimbursed by third-parties including Medicare and Medicaid. However, by keeping its exposure to those federal programs to a minimum, the company is less vulnerable (though not immune) to changes in reimbursement levels.

More than half of the company's sales come from its leased communities and about 40% are generated from owned communities. Management fees from communities that Brookdale operates on behalf of third parties contribute the remainder.

Historically, the company has grown its operations through acquisitions, however, difficult economic conditions caused Brookdale to cut back on its spending during the past few years. During that time, it turned its attention inward, focusing on maximizing profits at its existing facilities and increasing its occupancy rates. The senior housing industry as a whole was affected by the downturn in the housing market, causing a precipitous drop in occupancy rates industry-wide. Despite that, Brookdale expects to see an uptick in demand as the primary market for senior living services (people age 75 and older) is expected to grow by more than 1 million people through 2015. It anticipates using that expected growth in demand to increase its service fees, as well as to retain and attract residents.  

Sensing improved economic conditions, in 2011 Brookdale acquired private facility operator Horizon Bay, adding 90 residential facilities in the southern and midwestern US. Horizon Bay's independent and assisted living facilities complement Brookdale's existing properties as they cater to high-end customers. The acquisition also reinforces the company's existing presence in several markets and opens a few new markets. As part of the deal, Brookdale is entering restructured lease arrangements on certain facilities with Horizon Bay's former shareholders, Chartwell Seniors Housing REIT and HCP.

In early 2012 the company paid $121 million for nine communities it had formerly operated and leased. The communities added a total of nearly 1,300 units.

Along with keeping its occupancy rates up, Brookdale seeks to attract residents by providing a wide array of services and a continuum of care. Because it operates retirement centers, assisted living communities, and continuing care communities, Brookdale can market itself to a diverse client base with varying levels of care needs.

It is also looking to grow its income by introducing ancillary service programs, such as the Innovative Senior Care program, which offers home health, therapy, and wellness education services within and outside of the Brookdale communities. Its company-wide Optimum Life wellness initiative provides a holistic approach to health and well-being through social media, life education, movement, themed celebrations, and a wish-fulfillment program (in partnership with the Jeremy Bloom Wish of a Lifetime Foundation).

The company has a history of steady revenue growth and net losses, and both trends continued in 2011. Revenue jumpedabout 8% to $2.5 billion because of the integration of recent acquisitions, as well as a3% increase in monthly revenue per unit, including the expansion of ancillary services.Reduced reimbursement rates for Medicare patients in 2011, along with changes in the allowable method for delivering therapy services to skilled nursing patients, negatively impacted the company's financial results and contributed to Brookdale's net loss of $68 million, an increase of about 40% from 2010.

Brookdale Senior Living was formed through the 2005 merger of Brookdale Living Communities and Alterra Healthcare. – less

Community Living Opportunities Employer Reviews
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Community Living Opportunities Salaries
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Teacher
$9.25 per hour
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