Acquisitions & Development

Acquisitions

WESTliving is looking to acquire existing senior living communities such as:

  • Service enhanced (non-licensed) independent living communities
  • Assisted living and memory care communities (licensed)
  • We are well capitalized and therefore not constrained by a financing or funding contingency in order to consummate a purchase.

With extensive experience in underwriting, marketing and operations of senior housing and a long-term investment viewpoint, WESTliving has the knowledge and flexibility to appropriately value your community. Unlike many investors in senior housing, WESTliving recognizes the importance of evaluating future income stream in emerging and stabilized markets to determine value rather than simply looking at the typical capitalization of in-place Net Operating Income. Our general acquisition criterion for existing operating communities is:

  • Communities located in the Western-third of the United States
  • Market areas that comprise a middle or upper middle-income demographic
  • Communities that exceed 80 units with a complementary mix of studios, one-bedrooms and two-bedroom units
  • Communities that provide a range of services and programs catering to and addressing resident lifestyle, wellness and needs for changing care level
  • Communities less than 25 years old
  • Occupancy that is 70% or better

Development

WESTliving is actively looking to secure quality sites for development throughout California. We prefer locations that have suburban or small town characteristics and a population or market area that exceeds 25,000 people.

The ideal development site for WESTliving is one that lies within the transition area separating downtown shopping and entertainment areas from primarily residential areas where the site has frontage along the roadway connecting these two areas. We consider the following when assessing land acquisition opportunities:

  • Three to seven acres of useable land area
  • Land area that can accommodate 80 to 150 units in a two- or possibly three-story design
  • Market areas that comprise a middle or upper middle-income demographic
  • Two points of access for ingress and egress
  • Located within a few miles of a hospital or major medical facility
  • Zoning and General Plan consistency that allows for senior housing development
  • No required joint venture or partnership arrangement with a third party

If you have an existing community you are considereing selling and would like to have WESTliving prepare a valuation anaylsis of your property or a land acquisition opportunity that may be suitable for WESTliving, please call (760) 602-5850 or email AandD@westliving.net.