The changing face of assisted living
Sabra Senior Health Care REIT plans to develop a new model of assisted living designed for higher acuity residents. Forging the new territory could capture the promising market of acute care facilities that are beginning to discharge patients directly to assisted living, the company’s executives announced at last week’s REITWeek 2013 in Chicago.
Sabra has forged agreements to develop properties and provide preferred equity. In an agreement with First Phoenix Group, the REIT will provide preferred equity for up to 10 facilities (assisted living and memory care). Once they are stable, Sabra will purchase them.
“One of the reasons we’re focused on new development is that the [primary inventory of] senior housing facilities that were built in the ‘90s and early 2000s were built for a more independent individual,” Sabra CEO Rick Matros said during a presentation at REITWeek 2013. “LTAC and rehab hospitals don’t have a high probability of viability in the long run. Skilled nursing, assisted living and memory care are the best asset classes [for investment,” said Matros.
Sandra Hoban was on I Advance Senior Care / Long-Term Living’s editorial staff for 17 years. She is one of the country’s longest-serving senior care journalists. Before joining Long-Term Living, she was a member of the promotions department at Advanstar Communications. In addition to her editorial experience, Sandi has served past roles in print and broadcast advertising as a traffic and talent coordinator.
Topics: Alzheimer's/Dementia , Design , Executive Leadership , Housing