Seniors Housing Weekly Update - The Buzz At NIC Conference
September 30, 2014
September 30, 2014. 60 Seconds with Steve Monroe. With perhaps record attendance,and maybe even record buzz, the NIC conference will see a lot of M&A and finance action this year....
The Buzz At NIC Conference
Good morning. I hope many of you are either here in Chicago with me or on the way. This is my 24th straight NIC Conference, yes all 24, and the buzz has been growing every year since the end of the Great Recession. I don’t know what the final attendance number will be, but I have to believe it is going to be a record. Just like the senior care M&A market has been setting records all year. There are more investors and developers looking at this sector than ever before, even more than at the peak in the last bull market, which was in 2007. There may not be a record number of lenders today, since there have been some mergers among them, but it seems obvious that the competition to secure loans is getting more intense, with lending terms becoming looser in order to secure “the deal” or meet budgets. Loan-to-value ratios have not become as crazy as in 2007, which is good, but I am not sure for how long. So please stop us and say hello this week in the Windy City, and allow me to introduce you to my new colleague, Ben Swett. See you tonight at the opening reception.