San Diego NIC Conference 2015

The National Investment Center held its regional conference March 31- April 2nd in sunny San Diego, California. Senior housing players from all over the United States attended the massive event to learn and share ideas on the expanding and developing marketplace.

A Bullish Market and Positive Attitude Opens Opportunities

Lenders, equity providers, operators and brokers all reported to be doing well and keeping busy with work. Plenty of people are seeking chances to buy skilled nursing facilities, list care homes for sale or meet a senior living brokerage that knows the ins and outs of the senior housing market.

In terms of acquisitions, REITs (real estate investment trust) still dominate the market, especially for Class A assets. REIT’s typically offer the highest prices when it comes time to buy healthcare properties.

Fortunately, opportunities are abundant. Besides the REIT’s, those looking to buy skilled nursing facilities or buy assisted living facilities become creative in the sale structure to get the deal they desire. This is particularly true in the case of the “mom and pop” sellers who may need special treatment or deal structures, therefore attracting buyers that can allow flexibility.

The NIC Conference proved that there is a buyer for every asset, whether it is a high-end performing, skilled nursing or assisted facility for sale or a distressed, value-add type deal.

Lenders Provide Debt and New Equity Brings Resource

Lenders in attendance reported providing debt with good interest rates. With three, five and seven year debt terms, many lenders and equity sources were willing to get aggressive on the loan to values.

Under typical circumstances, operators plan to list their senior housing for sale once the debt term matures, but for those in for a long term hold, now would be the time to acquire HUD loans. These loans are insured by the Department of Housing and Urban Development, a government agency, and still make up the majority of long-term loans in senior housing.

For those who have not yet settled into senior housing and wish to do so, the senior housing environment has never been more accommodating; all the tools necessary to close a transaction are available. New players offer equity and debt, making it an excellent time in senior housing for both buyers and sellers.

The Senior Living Brokerage that Delivers Excellence

When it comes time to choose a skilled nursing and assisted living brokerage to guide you in buying healthcare properties, the JCH Senior Housing Group are the people you can put your trust in.

We use a very specific method to discover and design the best deal for you. By combining field experience, real-time data and an infallible marketing strategy, our team retrieves for you what you want most from the senior housing market.

To learn more about how JCH can help you or for your complimentary valuation, contact us at your convenience.

Continuing Care Retirement Community

A CCRC, or continuing care retirement community, is a unique senior housing establishment that provides all levels of care conveniently in one place. A CCRC campus offers board and care for sale, hosting multiple facilities dedicated to varying levels of care such as independent living, assisted living and skilled nursing.

Each specialized facility has its own operator and management working to provide the type of services available at any other assisted living or skilled nursing facility, such as Alzheimer’s and memory care.

Benefits of a CCRC

Continuing care retirement communities are an exceptional convenience to both families and seniors alike. Once residents enter the independent living facility of your CCRC, it is likely they remain on campus throughout their aging process, graduating to the next facility and care service as needed. This is also why the census retention of CCRCs remains high.

Families feel more comfortable with a team of caretakers that has worked with their residents for long periods of time and can count on the quality of care and attention provided.

Likewise, residents are at greater ease in a community they have learned to call home and are spared the anxiety and stress of relocating to a new environment.

CCRCs are Expensive and Complex

CCRCs differ from other care homes for sale because there are two types of models by which CCRCs operate. The rental model contains a lower up front entry fee that averages around $100,000 in addition to monthly fees. These investments may be refundable within the first year, depending on the CCRC and its contract.

The buy in model requires a much larger entry cost, ranging between $250,000 and $750,000. Costs are usually refunded on a pro rata basis within the first five years of residency.

Though entry fees are large, it allows for a consistent and restricted demographic. Experienced operators thinking to buy healthcare properties should consider CCRCs as a challenging yet lucrative option. More often than not, CCRCs are extremely profitable but getting started is unlike the decision to buy assisted living facilities. It is a large and complicated process.

Complexities come from:

• Obtaining the license for CCRC
• Obtaining individual licenses for different on-campus facilities
• Coordinating leasing agreements between operators and facilities
• Managing four to five facilities on one campus

CCRCs are regulated by the Attorney General and typically owned by non-profit organizations, be it of religious or military affiliation. On occasion, one sponsor or equity investor will plan to buy a CCRC campus then lease its different facilities to respective operators and management.

The Senior Housing Brokerage that Knows CCRCs

The JCH Group has mastered the brokering of continuing care retirement communities. For operators looking buy a CCRC or list a CCRC for sale, our team of specialists is a great resource. Using real time industry information and experience for countless successful transactions, your decision to buy a CCRC can be the best one you make.

For your free business valuation from the top healthcare brokerage, contact one of our JCH representatives at your earliest convenience.

Congregate Care Facility

A congregate care facility is typically for residents 55 years of age or older, where limited or no assistance with daily living activities is needed and a state issued license is not required. With senior housing booming, novice and experienced operators alike are on the hunt for quality investments. Assisted living facilities, skilled nursing facilities and independent living facilities are among the most popular choices for senior housing operators and investors. Congregate care facilities are the type of senior housing that should be considered if the operator or investor is looking for less government oversight and minimal staffing requirements

Though it is often overlooked and underestimated, the congregate care facility continues to play an active part of the senior housing spectrum and even competes with assisted living facilities in most states.

The Difference Between Congregate Care
and Assisted Living

In terms of provided care, congregate care facilities are a housing plan between age-restricted independent living and assisted living facilities. The main difference between congregate care and assisted living is that congregate care homes do not offer assistance with daily living activity services.

On a side note: If you want to learn the difference between independent living and assisted living, click here.

Each individual congregate care facility can design its service menu to cater to its senior community. Services typically can include:

• Transportation
• Leisure activities
• Meal services
• Housekeeping
• In-home health care

In addition to the above, Assisted Care typically includes:

• Incontinence care
• Assistance with Bathing
• Toileting
• Medication Management

Assisted living facilities obtain their licenses from state agencies to provide its seniors with assisted care in house. Congregate care facilities may offer these services through outside vendors such as in-home healthcare agencies.

Congregate Care Facilities Have a High Census

Though some congregate care facilities have integrated themselves into assisted living facilities, there is still a need for this type of housing. Congregate care facilities are the perfect choice for seniors who do not yet need a great deal of daily assistance. Many seniors have commented that they like to surround themselves with active, healthier people such as themselves. They know that they will be in a wheelchair someday, but prefer to not to be reminded of it on a daily basis.

These seniors value their independence and social abilities, retain full control of their lives and desire a housing option that simplifies their daily living. Most seniors choose congregate care in order to downsize their living spaces and minimize or eliminate home chores such as mowing the lawn, taking out the trash or cleaning their home.

The JCH Group and Your Congregate Care Facility

The senior housing brokerage you choose should work to get the best deal for you. Whether you are a veteran operator or a first-time investor, when you decide to buy a congregate care facility for sale or list your congregate care or assisted living home for sale, The JCH Group guides you to success.

Our experts at The JCH Group have sold hundreds of congregate care facilities as well as assisted living facilities, independent living facilities and other healthcare properties.

By integrating your personal goals with the advantages of the current marketplace climate, the team at The JCH Group uses its combined experience and expertise to build and achieve the perfect deal.

For your complimentary business valuation or for more information on The JCH Group senior housing brokerage team, contact us today.

Over the past several years in the senior housing space, investors and operators have consistently seen all time high valuations for all product types within senior housing,

Now more than ever before, those looking to buy skilled nursing facilities or buy assisted living facilities are investing enormous amounts of capital to close transactions. These transactions with larger price tags are leaving current operators and veteran players perplexed and asking, why is this happening and what does that mean for the future of senior housing?

Outside Influences

To institutional investors, senior housing has often been considered a foreign asset class. Recent trends have begun to prove otherwise, moving Senior Housing closer and closer to a core asset class. Because of this, we have recently seen unfettered investment in the space from outside capital sources. This influx of inexperienced investing in the space has driven pricing to new heights and generated tremendous deal flow for the industry.

Senior housing is an operation intensive business resulting in higher volatility and perceived increased risk versus other core asset classes. This is why capitalization rates are typically higher than those of other lower perceived risk assets classes. These higher returns attract the attention of investors accustomed to other products types such as multifamily housing and office. The other side to this story, and perhaps the part no one wants to hear, is that the speed in which this new capital entered the market place is the same speed it may leave when the first few hiccups occur. Brookdale’s recent earnings report may be on the leading edge of this.

Changes in the Future

With the growing popularity of senior housing business and abundance of outside equity, qualified investors are searching to buy healthcare properties in record numbers. To meet this demand, operators and property holders are encouraged to list their assisted living and skilled nursing properties for sale.

This raises some concern for us. If buyers and investors enter paying higher prices and expecting lower returns, cap rates are compressed, while prices skyrocket. This decreases the margins and coverages in these deals and severely restricts the margin of error, creating a far more fragile deal going forward.

When their investments do not provide the type of payoff expected, operators and investors may not be willing to reinvest, pulling out of the senior housing space and potentially creating a bubble.

The good news is that even if outside equity withdraws in the future and senior housing takes a hit, the fundamentals of the marketplace are always improving. Even if assets are over-priced, losses eventually compensate themselves through the cyclical nature of our marketplace.

The JCH Group, Your Guide in Senior Housing

As one of the most active and successful senior living brokerages, The JCH Group has successfully navigated through the passing trends in senior housing and continues to design and close high quality deals whether you have a congregate care facility for sale or are looking to buy nursing homes. As your choice senior housing brokerage, we are available for whatever you may need to ensure the best deal possible for your needs and goals.

For your complimentary business valuation, contact us today at your convenience.

The Department of Social Services will be enforcing three new laws in 2015, most of which affects smaller providers for residential and elderly care facilities. The California State legislature has passed these laws in an effort to raise quality of life for residents and keep facility staff prepared for emergencies and accidents.

The Community Care Licensing Division of the Department of Social Services is responsible for inspecting retirement homes, senior housing facilities and those for elderly care and ensure that all past, present and new laws are abided by.

AB 2044 In Effect January 1, 2015

AB 2044 was created in regards to residential care facilities for the elderly. As written on the Social Services website, the main portions of the bill are:

• Require that at least one administrator, facility manager, or designated substitute who is at least 21 years of age and has adequate qualifications, as specified, be on the premise of the facility 24 hours per day.
• Require the facility to employ, and the administrator to schedule, a sufficient number of staff members, as prescribed.
• Require that this training also include building and fire safety and the appropriate response to emergencies.

The person appointed is in charge of facility and staff matters in the absence of the administrator, they must know CPR and respond to emergency situations as prescribed by facility procedures. Either the administrator or substitute appointee must be available 24/7 while the facility is in operation, regardless if it is a retirement facility for sale.

AB 2171 In Effect January 1, 2015

AB 2171 regards the rights of residents inhabiting residential care facilities and the proper notification of these rights. This bill states that a resident has the right to:

• Be accorded dignity in their personal relationships with staff
• Granted a reasonable level of personal privacy of accommodations, medical treatment, personal care and assistance
• Confidential treatment of their records and personal information, as specified.
• Written notice of any room changes at least 30 days in advance unless the request for a change is agreed to by the resident, required to fill a vacant bed, or necessary due to an emergency.
• Receive written information on the right to establish an advanced health care directive, and, pursuant to Section 1569.156, the licensee’s written policies on honoring those directives.
• Require, at admission, a facility staff person to personally advise a resident and the resident’s representative, as described, of these and other specified rights and to provide them with a written copy of these rights.
• At admission, a facility staff person shall personally advise a resident and the resident’s representative of, and give a complete written copy of, the rights in this article and the personal rights in Section 87468 of Title 22 of the California Code of Regulations. The licensee shall have each resident and the resident’s representative sign and date a copy of the resident’s rights, and the licensee shall include the signed and dated copy in the resident’s record.
• Licensees shall prominently post, in areas accessible to the residents and their representatives, a copy of residents’ rights.
• The rights posted pursuant to subdivision (b) shall be posted both in English and in any other language in a facility in which 5 percent or more of the residents can only read that other language.
• The licensee shall provide initial and ongoing training for all members of its staff to ensure that residents’ rights are fully respected and implemented.

AB 2171 also calls for the right for residents to create a resident council pursuant to Section 1579.157

In the event a residents’ council is formed, a liaison must be appointed to act between the established council and management staff.

AB 1523 In Effect July 1, 2015

AB 1523 specifically affects small providers of residential care facilities for the elderly except those designated as continuing care retirement communities. This bill states each facility must:

• Maintain liability insurance covering injury to residents and guests in the amount of at least one million dollars ($1,000,000) per occurrence and three million dollars ($3,000,000) in the total annual aggregate, caused by the negligent acts or omissions to act of, or neglect by, the licensee or its employees.

A summarized list of these laws and its subdivisions is available at http://caassistedliving.org/advocacy/legislation/legislative-update/.

Consequences for Dissent

Residential care facilities in California that fail to abide by these new laws are subject to penalties. Licensed facilities are cited for infractions and depending on the type of infraction, may receive a monetary fine per occurrence. Citations are kept on record at the Department of Social Services and available to the public. If a facility continues to fail to uphold these laws, ignoring warnings and citations, licenses can be revoked. Facilities that continue to operate without a license are issued a Notice of Operation in Violation of Law and prosecuted for criminal charges.

The Healthcare Brokerage of Choice

As the skilled nursing and assisted living brokerage people trust, The JCH Group has helped operators of every experience level find the right skilled nursing, assisted living or congregate care facility for sale. Our team members are responsible for navigating and closing some of the biggest deals when it to comes to buying residential care homes for sale.

If you have a care home for sale or are considering selling assisted living or skilled nursing facilities or are searching to purchase skilled nursing properties and assisted living properties for sale, The JCH Group is ready to assist you in making the most profitable transaction possible.

For questions on these new laws or your complimentary business valuation, contact The JCH Group at your earliest convenience.

In preparing to buy skilled nursing facilities, assisted living facilities or other healthcare properties, there is great concern and thought invested in learning how to properly finance your purchase.  Though many options are available, the most common and available method to successfully buy a skilled nursing, or assisted living facility comes in a two-part loan process.

If You Don’t Yet Have an Asset

First time buyers generally start off with a bridge loan or mezzanine loan, a method for acquisition financing. A bridge loan closes between 60-90 days and allows you to buy a skilled nursing facility and acquire debt. It is a short-term loan, between three to five years, that allows the initial purchase. Once that time is near expiration, many buyers then apply for a HUD loan, issued by the US Department of Housing and Urban Development.

Many buyers strategize to drive up the loan to value ratio during the bridge process. This raises the balance on the HUD loan when refinancing the bridge loan.

What is a HUD Loan?

The Department of Housing and Urban Development issues insurance to the loans in an effort to provide assurance to banks lending funds to those in the business of operating nursing homes and skilled nursing facilities.

Most buyers must go through a bridge loan before receiving a HUD loan because HUD loans take between 12 to 18 months to fund. HUD loans are also meant for those planning to hold their properties for a considerable amount of time, about five years or more and are available for holders who have already acquired one or more properties.

Because HUD loans come with long-term lock out periods, it is not encouraged for “Value Add” deals which are buyers looking to buy assisted living facilities, improve the financials, physical plant improvements and finally put those assisted living properties for sale.

What You Should Know About HUD Loans

• Extremely low interest rates – below 4 percent
• Come with 40 year amortization – keeps payments low
• Non-recourse consequences – if unable to pay loans, HUD keeps the property and does not hold you personally accountable for loss
• Does not actually provide loans – HUD acts as insurance for banks making the loans
• Those who have defaulted with HUD in the past will not be allowed second loan opportunities
• HUD loans come with hefty pre-payment penalties, between two years and up to 10

Make the Right Choices with The JCH Group

The JCH Group is a senior living brokerage committed to bringing the best buyers and sellers together to create excellent healthcare facilities. Our experience and research has created some of California’s most outstanding skilled nursing facilities, assisted living facilities, nursing homes and retirement homes to date.

If you are looking for a retirement facility for sale or searching for someone to buy healthcare properties belonging to you, our teams can orchestrate the perfect deal.

For more information on The JCH Group or for your complimentary assessment, contact one of our team members.

Skilled Nursing Facilities and Bankruptcy

For the past 24 to 36 months the skilled nursing marketplace has experienced unprecedented turbulence making the decision to buy skilled nursing facilities a difficult one to make. Profit margins for operators of skilled nursing facilities are spread thin with MediCare and Medicaid cuts. In California, MediCal withholds have further limited the budget with which operators have to work. Though these hold backs are typically repaid by the state, smaller skilled nursing operators experience tighter cash flows while trying to make do without the necessary reserves.

As reimbursement shrinks and the marketplace enters a state of turmoil, lawsuits become even more prevalent forcing some operators to list their SNF for sale. Those looking to buy skilled nursing facilities are equally aware of these hardships and need to be very cautious when evaluating a potential purchase. In some cases the only plausible exit out of the skilled nursing industry is through bankruptcy.

Case Study: Country Villa

As a skilled nursing brokerage, The JCH Group keeps keen to the present volatility and marketplace trends with calculated information and analysis. Through experience and proven strategy, our team orchestrates deals to close quickly and maximize on profitability, in whatever form that takes.

Most recently, our team tackled the case of Country Villa, a company that operated 18 skilled nursing facilities and one assisted living facility in Southern California. Country Villa filed for bankruptcy in March 2014, relinquishing all 19 leasehold properties to a court run bankruptcy and auction. The JCH Group was retained by the court to run the marketing and auction process.

Over 50 qualified buyers reviewed the due diligence materials and at the end of the process, only one bidder, in addition to the stalking horse, was able to attend the auction. A requirement of $40 million on deposit in a trust account prior to attending the auction was a major hurdle for many potential bidders.

The stalking horse bid was $62 million. The bid opened at $64 million. Covenant Care and Kaiser Permanente collaborated to offer an opening bid of $70 million, which was rejected by the court. This occurred because the stalking horse bid carried a nonrefundable liquidated damages clause amounting to $40 million, ready to go non-refundable once the auction was complete. Though Covenant Care and Kaiser were able to place $40 million into a trust account and attend the auction, they were unable to match the liquidated damages clause and the guaranties offered for the leased assets.

The Country Villa sale closed at the end October 2014.

The JCH Group for Your Bankruptcy Deal

The JCH Group is proud to have successfully facilitated the Country Villa bankruptcy case as appointed by the court and the Reissman’s. The same team is available for your own bankruptcy deal. As the leading assisted living and skilled nursing brokerage, we pride ourselves in meeting and exceeding the needs and expectations of each and every client we represent.

Our team of established experts brings their acute insight into your specific situation, no matter how great or small. Whatever your vision, The JCH Group is prepared with the best advice on where to go next. For your complimentary business valuation, contact our team today.

Independent Living and Assisted Living Facilities

When searching to buy healthcare properties, there are several different types from which you can choose. Right now, the senior housing marketplace is one of the industries promising unlimited growth with unquenchable needs in independent living, assisted living, skilled nursing and other senior housing facilities.

Many of these homes and facilities are designed to meet particular preferences or needs of its residents, whether that is based on community, medical assistance, living costs or care level. More specifically—and importantly to buyers, sellers and operators—distinguishing independent living from assisted living facilities boils down to discretionary wants versus necessary needs.

Independent Living Facilities are Not Licensed in Most States

Independent living facilities are not licensed in most states and are not designed to provide any type of medical assistance to its residents. For this reason, those who choose housing in independent living facilities do not necessarily need to be there.

Opting for independent living is usually a choice made to cut down on living costs, maintenance and housework. Seniors who would rather not spend time maintaining their large home where they raised their children in the past have the opportunity to live in a community of peers in an environment tailored to their specific needs and interests.

Independent living facilities provide housekeeping and meal services though medical assistance is limited, as they have no license that permits assistance with medication and daily living activities.

Because this type of senior housing is completely voluntary, once costs rise seniors can choose to leave for more affordable housing. This was the case recently with the downturn of the economy, where independent living facility operators were hit hardest.

Assisted Living Facilities are Need-Driven

In most areas assisted living facilities are typically regulated under the Department of Health or Social Services and are licensed for medical assistance and management. These facilities provide meals and housekeeping, help with daily activities, medication management, and incontinence care in addition to general independent living facility accommodations.

Seniors who move into these facilities oftentimes have little choice of other resource for care-taking. Despite its affordability—or lack thereof—seniors in need continually seek residence in assisted living facilities, making this type of senior housing nearly recession-proof.

It is worth noting that whether it is an independent living or assisted living facility for sale, both are routinely available for purchase for new operators and owners. Assisted living facilities for sale that are performing well are discover-able with research and the right senior housing brokerage.

The Assisted Living Brokerage that Finds the Deal for You

Our team at The JCH Group is composed of seasoned experts who consistently score high quality deals. As a leading senior living brokerage in the United States we can help you buy healthcare properties at the right time and meet the right people.

Whether you are a seller or a buyer, we will find you the best operator or facility. We offer free assessments and never disclose private information prior to executing a confidentiality agreement.

For more information about how The JCH Group can help you to buy an assisted living facility, contact us at your convenience.

NIC National Conference in Chicago Shows Promising Boom

In October 2014, the National Investment Center held its 24^th Annual NIC National Conference in Chicago, IL. Over 2200 people attended the conference centered on investing in senior housing and care facilities.  Top executives from the most prominent operators were part of the forum.

Keynote speakers included former Chairman of the Board of the Federal Reserve,Ben Bernanke and chief medical officer Dr. Thomas H. Lee. While Bernanke shared his view on how the economic forecast will affect the industry, Dr. Lee shed light onto upcoming developments in senior housing regarding healthcare logistics such as payment and delivery systems.

Nothing Bad to Say

The NIC National Conference has always been a perfect opportunity for anyone involved in the skilled nursing facility and/or senior housing marketplaces to meet new contacts within the industry.  Whether looking to buy healthcare properties or spread word about an assisted living facility for sale, thousands gathered to shake hands and exchange ideas of how to make the business and culture of skilled nursing brokerage and senior housing brokerage better for all parties involved.

A great deal of energy and excitement built the momentum necessary for operators, owners and financiers to meet, learn and build partnershipswith promising results. A large majority of attendees were eager to talk about developing agreements to the benefit of sellers and buyers.  That was only encouraged with the finding that banks were more apt to approve loans for those interested in buying skilled nursing facilities or retirement facilities, providing the funds needed to set these deals in motion.

The auspicious outcome of the NIC National Conference predicts a continually booming senior housing marketplace and sets up almost any nursing home brokerage, skilled nursing brokerage or senior housing brokerage for a train of successful transactions.

The JCH Group’s Take on the NIC National Conference

The JCH Group’s own Senior Vice President Jim Hazzard, Vice President Nick Stahler and Senior VP Shep Roylance attended the NIC National Conference to much success. Thirty-six meetings were set up in two days and what they found was a great demand for value-add deals.

Skilled nursing facilities, senior housing facilities or other healthcare properties privately owned by smaller groups generally lack the corporate resources needed to upgrade their facilities to meet the competitive edge afforded by larger groups. Value-add deals are facilities that need improvements in the physical plant, operations, or both. Value-add type transactions require resources and funding to enhance healthcare properties for better fiscal performance and operations, improving cash flow and raising the value of the building before potentially putting up the assisted living or skilled nursing facility for sale.

The JCH Group as Your Healthcare Brokerage

The JCH Group team members are highly active in senior housing and assisted living marketplaces, allowing them to access the information and people needed to set up the most efficient and profitable deals. As a full-service skilled nursing brokerage, their services and expertise are based on experienced wisdom and real-time intelligence, resulting in superior data analysis and projection.

For more information on the NIC National Conference and The JCH Group’s takeaway, contact The JCH Group to speak with a team member ready to help you.

Residential care facilities for the elderly, otherwise referred to as RCFE, is a type of care facility specifically designed to serve and assist the elderly with their daily lives. These facilities are also known as assisted living facilities. For those making plans to buy RCFEs there are a few basic pieces of information to know in order to build a strong foundation of knowledge in buying one of these facilities.

What is Residential Care For the Elderly?

RCFEs are homes and/or facilities that house the elderly and assist them with daily living activities. Those who qualify as the elderly are anyone over 62 years of age.

Assisted living style-care for the elderly includes bathing, grooming, cooking, regular housekeeping and whatever services the specific facility has available. RCFE care also includes incontinence care and medication management so that all residents take the right medication at the right time as instructed by their doctors and physicians.

Are RCFEs Regulated?

In California, these facilities are regulated by the Department of Social Services, specifically by the Community Care Licensing Division, also referred to as Title 22. (In other states with Medicaid waivers, the Department of Health Services regulates assisted living.)

For Title 22 Regulations, you can visit the Department of Social Services, which provides manuals and licensing requirements that every RCFE in California must meet for proper operation.

Though the state provides general requirements, the quality of care from facility to facility differs depending on the operators. When searching to buy RCFEs, build your own set of standards and expectations by which you can grade potential facilities. For each prospective RCFE buy, visit the physical plant.

Actively getting to know the staff and familiarizing yourself with the physical facility is extremely telling to the quality of operation. Are the staff members friendly and welcoming? What does the population look like? How do the residents like their time at this specific facility? Is the plant clean and organized or do they seem understaffed? Because RCFEs are regulated by the Department of Social Services, they undergo inspection, most commonly, once every two years. This means when you visit assisted living homes for sale, these facilities should be meeting minimum requirements, at the least.

Next, study the plant’s financials. Check on rent rolls and any records on profit and loss to see if it is viable as a business and that the numbers are where you want them to be.

How Do I Find Out the Track Record of a Facility?

Because the state regulates all RCFEs, records of any assisted living facility for sale are available at the Department of Social Services by county. These records include licensing history, founded complaints, deficiencies and other information available for your review.

The JCH Group is Your Senior Living Brokerage

Our teams at The JCH Group are responsible for consistently orchestrating successful relationships when it comes time to buy healthcare properties. We can help find a congregate care facility for sale that matches your goals and preferences.

The JCH Group provides complimentary assessments for those looking to sell or buy RCFE and/or skilled nursing facilities. As a premier senior living brokerage, we are dedicated to facilitating profitable deals and honest trades resulting in healthy and conducive senior care facilities.