60 Seconds with Steve Monroe: Big-Time CCRC Development
For those of you who know me, you know I have been a big fan of the CCRC model, and have been for decades. And for those of you who still think the entrance-fee CCRC model is dead, well, think again when you hear this. HJ Sims recently closed on what may be one of the largest tax-exempt bond financings for a single-site CCRC new development, if not the largest. The total bond issuance comes to $398 million, or just over $1.5 million per unit, with maturities ranging from four years to 35 years. The interest rates range from 2.875% to 4.625%. It is located in Westchester County, New York. The community will be situated on the campus of Purchase College, State University of New York. There... Read More »60 Seconds with Steve Monroe: Winners and Losers
As we have mostly finished with the third quarter earnings results, it does appear that the market continues to bifurcate between the winners and losers. Or, at least, between those who are successfully coming out of the pandemic and those who are maybe struggling to recover more than their peers. One example is CareTrust REIT which believes that its tenants will be above pre-pandemic occupancy levels by summer 2022, while others are looking at a year or two beyond that, or longer, and that is if they can successfully deal with the labor shortages and increasing wages. If they can’t deal with the labor problems, then their census issues will most likely remain a major headwind. Look, all... Read More »60 Seconds with Steve Monroe: Positivity Prevails at NIC
Steve Monroe reports positive sentiments about the future of the industry at NIC 2021. Read More »60 Seconds with Steve Monroe & Ben Swett: See Y’all in Houston
A lot has changed since we were last elbow bumping with people at the San Diego NIC conference in March 2020. There have been some other in-person conferences in the last few months, but next week’s NIC will be really the first time that the senior care industry is reunited since the pandemic. And we are looking forward to seeing everyone once again. When we’re in Houston, we’d love to hear about your experiences, the difficulties and your successes in the last year and a half whether as an operator, investor, lender or broker. And of course, about any deals you are currently working on. But we are also going to be asking for your predictions in 2022. Be forewarned. We also have our own... Read More »60 Seconds with Steve Monroe: Losing a Patriot, But Not to COVID
We lost a true patriot this week, Colin Powell, and I had the fortunate opportunity to meet him at my brother’s swearing in ceremony at the State Department. I think I committed a faux pas, however, as I brought his autobiography with me and asked him to sign it. I guess you just don’t do that with a sitting Secretary of State, in his office. But I did, and he obliged. What bothered me about the announcement of his death was that the family stated it was from complications from COVID-19. The reality is he was 84 years old, had Parkinson’s Disease and multiple myeloma, a cancer of plasma cells that suppresses the body’s immune system. The bottom line is that he was in bad health... Read More »Schedule a demo
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