PRESS RELEASE: Assisted Living Facilities: Buying, Selling and Valuing
|FOR IMMEDIATE RELEASE||
David Grossman, Event Coordinator
NORWALK, CT – October 30, 2013 – Irving Levin Associates, Inc. will be hosting an important webcast to address buying, selling and valuing assisted living facilities on Thursday, November 14, 2013. The webcast is sponsored by Lancaster Pollard, the Ohio-based investment banking firm. In 2012, assisted living communities set a new pricing record at an average price of $164,000 per unit, which topped the previous record set in 2007. Many factors enabled this to happen such as a drop in cap rates, an increase in lenders in the market, higher quality properties and portfolios on the market and many more aggressive buyers, including the smaller REITs and private equity firms. We will look at the impact of a resuscitated development market on current and future values. There is a fear that with so much new development in certain markets, and with new developers entering the market, the assisted living sector may be faced with another round of overbuilding. Would this take all values down as buyers and lenders pull back? Will the new properties be the winners as they out-compete the 1990s vintage communities, which at the time were state-of-the-art? No one knows the answer, but we will have a healthy discussion of what the real risks are, if any.
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