Increasing somatosensory information from the foot by exercising barefoot can potentially optimize the effectiveness of physical exercise interventions on falls prevention in the older adults. This pilot study was then undertaken to explore the effects of increased somatosensory information from the foot by exercising barefoot on balance, gait, and plantar cutaneous sensitivity in institutionalized older adults involved in multimodal exercise intervention. Participants were assigned to three groups: a control group which did not perform any physical exercise and two groups in which they were involved in a multimodal exercise program performed barefoot or shod. Postural, gait, and plantar cutaneous sensitivity parameters were collected. The results showed that the exercise program produced larger effects on balance and plantar cutaneous sensitivity when exercises were performed barefoot, without any noticeable effect on gait. Hence, barefoot exercising could be a relevant means to optimize the fall-prevention exercise programs in institutionalized older adults.