SAN DIEGO: A new seniors housing entrant is making a play at the middle market for senior housing, drawing from its experience in multifamily housing.
The entity has set its sights on a pipeline of properties to be re-developed in select markets.
The company has targeted turnaround opportunities, having recently taken an assisted living project through a conversion process that turned all of its 48 units into private pay memory care. The monthly rents average $3,500—much lower than competitive memory care units in the area.
The new entrant is concentrating on lowering the cost of care…