CCRCs: Buying, Selling and Valuing - Press Release
|FOR IMMEDIATE RELEASE||
Stephen M. Monroe, Editor
NORWALK, CT – May 9, 2013 – Irving Levin Associates, Inc. will be hosting an important webcast to address buying, selling and valuing CCRCs on Thursday, May 23, 2013. When the Great Recession hit, and housing prices crashed, and seniors either couldn’t sell their homes or not at prices they had grown to expect, many CCRCs that were opening or half complete ran into financial difficulties as census growth and pre-sales didn’t go as planned. Within a few years, there were some people who began to write off the CCRC sector as a thing of the past, an old model with the entrance-fee model no longer workable in the new housing market environment. There were defaults, distressed sales and bargain prices, at least compared with the original cost or replacement cost.
Has the market changed since the depths of the Great Recession? The answer is yes, and while there are still some distressed CCRC sales on the market, the environment is much better with the housing market gaining strength and perhaps a pent-up demand for what the CCRC product offers. From a financial perspective, CCRCs are one of the most difficult, and controversial, of the seniors housing property types to analyze. There are entrance-fee communities, straight rental CCRCs and hybrids that offer residents a choice, but with different monthly fees. And now there are many different refund options as well to complicate the valuation process.
Our hand-selected panel of experts will address these issues and answer any pressing questions the audience chooses to submit. Our experts include: Paul Brand, Treasurer and CFO, Concordia Lutheran Ministries; Allen McMurtry, Executive Managing Director, Principal, Cassidy Turley; David Reis, CEO, Senior Care Development, LLC; and David Salinas, Partner, HealthTrust LLC.
Publisher and Partner of Irving Levin Associates, Inc., Eleanor Meredith, invites you to take part in this can’t-miss webcast. Those announcing the death of the entrance-fee CCRC model were premature, to say the least. Discover how the market is shaping up.
This webcast is expected to generate a stimulating discussion. If you’re interested in the CCRC sector, then you won’t want to miss this webcast, entitled “CCRCs: Buying, Selling and Valuing”, on Thursday, May 23 at 1:00 pm ET. Please visit http://www.levinassociates.com/conferences/1305b-online-conference or call 800-248-1668 for more information about this interactive webcast.
Founded in 1948, Irving Levin Associates, Inc. is the leading publisher of newsletters, reports and online data on mergers and acquisitions data in the seniors housing and health care industry.
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