From the desk:
First one, nothing signed yet, and I want the number for the day before the first resident moves in rather than the stabilized number everyone posts. What I have written down: Pur…
Discussion
The two numbers everyone repeats are the oldest boomers hitting 80 in 2026 and senior housing inventory growth running around 1 percent in 2025, the lowest since NIC started track…
Loss
$150k LP check into a recapitalization of a 52-unit assisted living community in a secondary market. Sponsor had two others like it, real operating history, decent reporting. I as…
Discussion
Two houses I looked at this month and they are almost opposites. The first is a licensed 6-bed with all six beds filled. The seller wants a number that works out to roughly the ho…
Discussion
For about three years I've been doing conversion work on small licensed homes, trades side, which means I've seen the inside of a lot of these deals without owning one. Now an ope…
Discussion
Looking at a 24-unit assisted living community on a triple net master lease to a regional operator, 11 years left, 2.5 percent bumps. Rent is $1.32M a year and the operator's repo…
From the desk:
Looking at a stabilized 10 bed, second year of full census, and the seller gave me a P&L plus, by accident I think, a printed staff schedule from last month. P&L says: Revenue 47,…
Discussion
I run two versions of the same 6-bed and they refuse to converge. Rural version. Three-bedroom-plus-den ranch in a county seat of about 9,000 people, 215k purchase, maybe 90k of c…