Seniors Housing Business

ASHA 2016

Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.

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AS H A 18 2016 ASHA 50 2016 Q&A; with Michael Grust try, the state of the seniors housing market, and how owners and oper- ators must provide living arrange- ments that offer both a high quality of care and high quality of life. Q: How did you get involved in seniors housing? Michael Grust: My partner, Martin Fenton, who is now retired, and I initially pursued a resurrected 146-unit planned seniors' devel- opment opportunity in Rancho Bernardo, Calif. We then subse- quently stumbled upon a 105-unit community, also in California, being developed by a local group. The first thing I did was to survey the local market to determine what consumers were looking for and then find a solution for them. It was the beginning of a love affair with senior living. We came in as the capital partners, and that was when I recognized that we needed to understand the operations side of the business if we were going to succeed. I literally ran the community myself. I had operated a master- planned community targeted to active retirees on Hilton Head Island, but never a seniors housing project. Q: ASHA marks its 25th anniver- sary this year. What's the biggest change you've seen in the indus- try over that time? Grust: Twenty-five years ago, we were really inventing a new busi- ness. Senior living is a very complex business that combines healthcare, hospitality and real estate. We've seen a growing respect for the com- plexity of the business over the years. The recognition of the importance of the operator is becoming more and more crucial. You can have the most fantastic building, but if you can't execute from an operating standpoint the enterprise will fail. Q: How has ASHA helped to shape the industry? Grust: ASHA has always been a thought leader and catalyst for industry change. I'm proud to have had a leadership role in ASHA. The group has maintained its focus on research and advocacy, and now A D V I S O R Y, E V O L V E D . Blueprint provides a solutions agnostic approach within the healthcare real estate industry, increasing optionality and maximizing value for its clients. blueprintHCRE.com

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