By Steve Moran
The grossly unfair hatchet job by the Washington Post was written in a way to suggest that somehow senior living should exist solely for the good of the world and that any mention of money or margin is evil and wrong. It is absurd really. Each of those writers expects to be paid by their employer. They all know their newspaper ultimately exists to make money, though it appears they are not very successful at that.
It is of course an absurd proposition. Senior living — whether owned by the government, a not-for-profit, or a for profit entity — requires both capital and operating margins.
Right now the capital markets are very fluid and difficult. The cost of capital is higher than it has been in years; investors are more discerning when it comes to making their investment decisions.
And yet …
There is capital ready, willing, and even eager to invest in senior living. There are developers, owners, and operators who have great projects that pencil even in today’s tougher environment. The real question you face is how to find the right partners to work with. The 2024 NIC Spring Conference is the single best place for operators, capital providers, owners, and investors to find that next great match.
So Many Stories
I have heard so many stories about how great senior living projects — and even great senior living companies — were birthed out of a meeting of the minds and passions at a NIC conference. In fact, I would love to hear your story for a future article.
Figuring It Out
Figuring it out, getting this right, means having a happier business relationship, reducing your cost of capital, controlling costs, serving residents better, and having higher margins. At the spring conference you will have the opportunity to meet with the best of the best and hear from the brightest minds in the industry. This is a don’t-miss opportunity.
This article is brought to you in partnership with NIC. Don’t miss the industry’s deal-making conference March 5 – 7, 2024, in Dallas, Texas!