Seniors Housing Business

FEB-MAR 2018

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

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www.seniorshousingbusiness.com 41 February-March 2018 n Seniors Housing Business Capital Healthcare Investments is actively seeking acquisition opportunities in U.S. healthcare and seniors housing facilities in both primary and secondary MSAs. Our target transaction size is $10 million to $400 million. Growth. Innovation. Quality. Fueled by Capital Jeff Erhardt, Managing Director (301) 841-1489 | jeff.erhardt@caphealthinv.com Paul Nevala, Principal (301) 272-9965 | paul.nevala@caphealthinv.com Michael Treiber, Principal (301) 272-9966 | michael.treiber@caphealthinv.com RECENTLY CLOSED TRANSACTIONS 2 Asset Seniors Housing Portfolio Louisiana, Georgia Joint Venture RIDEA 5 Asset Assisted Living and Memory Care Portfolio Wisconsin, Minnesota, Utah Triple Net Lease 9 Skilled Nursing Assets Virginia Triple Net Lease 5 Skilled Nursing Assets Texas Triple Net Lease Triple Net Lease Joint Venture Equity Mezzanine Debt Skilled Nursing Facilities Assisted Living Facilities Independent Living Facilities Memory Care Facilities ASSET CLASSES INVESTMENT STRUCTURES www.caphealthinv.com Capital Healthcare Investments, LLC is a wholly-owned subsidiary of MTGE Investment Corp. (Nasdaq: MTGE) dards and practices that would enable for-profit companies to deliver easily replicated proto- types of moderately priced hous- ing in multiple markets, which many say hasn't happened in the volumes necessary to meet tomor- row's demand. Of course, this model would have to provide attractive returns to investors and also meet the lifestyle preferences for Boomers, who differ from the Silent Genera- tion (currently ages 72 to 92) and Greatest Generation (people born between 1901 and 1924). This is no small task, and it's a problem with many moving parts. Some of the key solutions getting attention at conferences and in news stories these days revolve around a few objectives: • Discovering ways to reduce over- all square footage — Many experts are evaluating a prototype of smaller, yet still private, units alongside downsized common areas that are flexible and can eas- ily transition from uses such as a dining area to an activity space. • Exploring third-party vendor solutions — Some operators are already examining potential cost savings gained from eliminating a commercial kitchen and opting for a third-party catering service, or exploring telehealth options that enable computers or mobile devices to access health care ser- vices, which could decrease staff costs. • Building relationships between developers and operators to enable optimal site selection — Many oper- ators are the first to admit they're not necessarily developers by trade. Partnering will become more important to navigate rising land prices and construction costs and to identify locations ideal for Boomer- based seniors housing. Addition- ally, collaboration will be necessary to shorten construction schedules. • Adapting different financing models — Making the numbers work would likely require less debt for less time, so investors would need to bring more equity to the table or be more efficient with the development process. Cordia Senior Living and Cypress Partners developed Cordia at Grand Traverse Commons, a 110-unit independent living and assisted living community in Traverse City, Mich. The project benefitted from historic tax credits, as the project is located within an old asylum originally built in 1883. The seniors housing section is also part of a larger mixed-use redevelopment at the site, The Village at Traverse Commons, which offers free amenities and entertainment to residents via shops, boutiques, galleries and restaurants.

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