Typically, Senior Living operators must navigate the hassles and costs of property ownership, management and lease negotiation twice over. First with their chosen developer, who owns and operates the property during design and construction. And for a second time once that property is sold, usually to a Real Estate Investment Trust (REIT) or property management company.
Most Senior Living operators see it as the unavoidable price of increasing access within their marketplace. But at ERDMAN, we call this process the ownership shuffle—and it’s costing operators more than they know. Because once developed, and with their value strengthened by the operators company’s lease agreement, these properties are usually sold to REITs for a significant profit. That can mean millions in additional dollars for developers; money the operator never sees.
At ERDMAN, we help our clients capture that profit for themselves, oftentimes converting that money into short-term savings or more affordable rent agreements.
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