colliers international national seniors housing group · 2014-01-23 · colliers international...
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COLLIERS INTERNATIONAL
National Seniors Housing Group Specialized Real Estate ServicesAccelerating success.
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2013. All rights reserved. 2013_10
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Confidentiality
The National Seniors Housing Group is trained in confidential marketing. We share your concerns for the preservation of value, facility reputation, resident’s trust in the care provider, and employees’ stability in the work environment.
The marketing process is designed to minimize the chance of creating a “rumor milled” effect in both the industry and the facility, which could jeopardize its reputation with residents, employees and the community. All potential buyers and operators are required to sign Confidentiality Agreements in order to receive marketing materials.
The Colliers International Seniors Housing Group is committed to providing a wide array of seniors housing brokerage services to this dynamic and thriving sector. We represent a range of seniors housing owners, investors, developers and operators aiming to create a customized solution for their real estate and financing needs. Whether large REITs or small facilities, we bring the transactional expertise to the deal.
The National Seniors Housing Group offers an international platform of integrated seniors housing real estate and advisory services.
SENIORS HOUSING ASSET SPECIALTIES
> Independent Living Facilities
> Assisted Living Facilities
> Skilled Nursing Facilities
> Continuing Care Retirement Facilities
> Seniors Apartment
> Memory Care Facilities
> Rehab Facilities
NATIONAL SENIORS HOUSING GROUP
4 NATIONAL SENIORS HOUSING GROUP Colliers International
Our goal is to continue to build the best and most experienced group of seniors housing professionals in the business. Our focus is firmly centered on delivering superior results to our clients with passion and enthusiasm.
GROUP RESOURCES
> Brokerage Services - Facilitating the acquisition and disposition of portfolios and individual facilities nationwide.
> Capital Market Services - Utilizing our vast network of capital mar-kets partners; we connect debt & equity sources with innovative new projects.
> Consulting & Advisory - The National Seniors Housing Group at Colliers International provides a wide array of consulting and advisory services. From strategic planning and site assessment to market research and financial analysis. We are here to assist you from start to finish.
SERVICES OFFERED
> Acquisition/Disposition of Portfolio’s and Individual Facilities
> Sale/Leaseback
> Capital Market Services (Debt/Equity Sourcing)
> Joint Venture Partners
> Land/Development
> Property Valuation and Financial Analysis
> Advisory/Consulting Services
> Market Research
NATIONAL SENIORS HOUSING GROUP
Our VisionSeniors housing institutions are unique and often require creative solutions. The National Seniors Housing Group delivers a full-service platform designed to address the varied needs of all seniors housing asset types, from assisted and independent living facilities to skilled nursing and rehab facilities.
The National Seniors Housing Group aligns our clients’ real estate decisions with their core business goals, customer needs and government regulations.
Accessibility
Financial
Infrastructure
Security
Regulatory
Location
Colliers International NATIONAL SENIORS HOUSING GROUP P. 3
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CLIENT TYPES
> Private Investor
> REITs
> Investment Banks
> Hedge Funds
> Private Equity Firms
> Local & State Government
> Operators
> Developers
> Managers
> Financial Institutions
> Lenders
Including other seniors housing owners/companies
that may have holdings in this sector.
6 NATIONAL SENIORS HOUSING GROUP Colliers International
Bob GainesVice President+1 443 543 1240 [email protected]
Kenneth J. Carriero, CCIM
National Director Senior Vice President+1 727 450 6876 [email protected]
Damien CarrieroDirector+1 727 298 5340 [email protected]
Christopher LoBelloVice President +1 702 836 3714 [email protected]
Douglas BrawnVice President +1 310 381 2480 [email protected]
Jeffrey HymanRegional DirectorSenior Vice President+1 847 384 2827 [email protected]
NATIONAL SENIORS HOUSING GROUP Case Studies
THE SHIRE AT CULVERTON AND NORTH VILLAGE APARTMENTS
The sale consisted of two components, The Shire at Culverton, an Assisted Living Facility (ALF) and North Village Apartments, an Independent Living Facility (ILF). The marketing of these facilities faced many challenges. The properties were 40 years old with deferred maintenance, and the ALF had a diverse resident mix. The upside was inplace license approved for Medicaid support. There were only a small number of assisted living facilities in New York that had access to this funding source. Additionally,The North Village Apartment complex consisted of one and two bedroom units, which is very desireable asset in a ILF complex
> Strategy: Realizing that this facility would not fit into the typical seniors housing business model of a national or institutional investor, a decision was made to present this opportunity to regional, local and non-profit organizations. A new operator would have to reposition the facility by reorganizing it into an independent living/seniors apartment complex, which was its intended use.
> Result: Through our target market, a buyer was found who envisioned renovating the facilities as well as putting in place, an aggressive marketing campaign to attract the right type of residents to The Shire at Culverton and North Village Apartments. Finding a REIT, whose vision aligned with the buyer, enabled the opportunity to culminate into a successful closing. The transaction closed at a 7.6% cap rate, which is uncommon for a facility of this age and condition.
FLORIDA PORTFOLIO
A three-property assisted living facility (ALF) portfolio located in central Florida, along the I-4 corridor. The portfolio included Tangerine Cove, Tender Loving Care Retirement Residence and Heart of Florida, with a total of 310 beds and 199 units.
The seller, who was an optionee, did not have title to the real estate. As a result, we worked through the logistics of satisfying the requirements of the option contracts with the optionors. In addition, each facility had title and survey issues which needed to be addressed and resolved prior to closing
The seller, who was an optionee who did not have title to the real estate. We worked through the logistics of satisfying the requirements of the option contracts with the optionors. In addition, each facility had title and survey issues which needed to be addressed and resolved prior to closing.
> Strategy: This opportunity was presented to a national REIT, who realized the current and future potential of the facilities. The next step was to educate the real estate owners (optionors) that in order to exercise the options contract it would require a closing in escrow and simultaneously closing the transactions with the REIT.
> Result: There were several obstacles that had to be overcome, including title and survey encroachments. Colliers worked diligently with the seller’s attorney to resolve the issues. The transaction closed within the compressed timeframe with an unprecedented cap rate of 7.9% for facilities that were over 30 years old.
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Colliers International NATIONAL SENIORS HOUSING GROUP 7
Updated May 2012
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