asset management Archives

Senior Housing Occupancy Increases - Feasibility and Due Diligence Consultants - Rendering of Marina Plaza senior housing facility

Senior Housing Occupancy Increased in 4th Quarter

Senior housing occupancy increased in the U.S., in the 4th Quarter of 2022, according to data from the National Investment Center for Seniors Housing & Care. The national occupancy rate for 4th quarter 2022 for private-pay seniors housing reached 83.0%, from 82.1% percent in the third quarter.

Since the second quarter of 2021, the occupancy rate has recovered from a post-Pandemic low of 77.8%. The seniors housing occupancy rate increased for the sixth consecutive quarter due to continued strong demand that has exceeded new senior inventory growth. Because new inventory has been added during the pandemic, however, the occupancy rate has not yet reached pre-pandemic levels, according to the NIC.

Industry observers, developers and senior living & care consultants have experienced increased challenges with new project feasibility, in the post-Pandemic period. The senior housing asset class was significantly impacted by the Pandemic, but the industry was already suffering prior to Covid-19’s impacts. But the continued recovery has many real estate investors looking to add private-pay senior housing to their portfolios in coming years. According to JLL, Primary and Sun Belt markets are experiencing the highest concentration of new senior construction.

The NIC senior housing occupancy data is for private-pay seniors housing, and includes independent living, assisted living and memory care facilities for seniors. The NIC refers to this data as their NIC MAP Vision data product. The National Investment Center for Seniors Housing & Care (NIC) is an Annapolis-based nonprofit firm that tracks industry data from 31 U.S. metropolitan markets.

For more information about nationwide senior housing occupancies at private-pay facilities, visit the NIC here.

Life Sciences Real Estate Consultants

23.11.2020 News about acquisitions and financing, News about global real estate consulting, News about office and industrial properties, Real Estate Consultants, StoneCreek Partners News and Research

Our work as life sciences real estate consultants includes new facility project feasibility, owner representation for design-development management, and for due diligence in connection with facility acquisitions.

Life sciences real estate has been a favored investment asset class for some time now, and the Covid-19 pandemic of 2020 has only propelled investor interest in these assets. Real estate matters related to the life sciences industries, involve companies, research universities, and government agencies working in fields such as pharmaceuticals, biotechnology, genetics and genomics, medical devices, and the like. Many life sciences organizations are involved in original research and clinical trials, often in BtoB joint ventures and public-private arrangements.

Life sciences projects can be higher risk than other form of tenant-occupied real estate, given the cost premium for such facilities.

Facilities intended for occupancy by life sciences companies are a unique form of real estate. As a result, investors know that purpose-built life sciences facilities can be significantly more expensive than more ordinary general-purpose office and industrial space. Base building work, proper ventilation, security, ceiling heights, waste disposal, all such factors can make a life science campus with significant laboratory space as much as 50% more expensive than normal office space.

Our consulting services include:

Project Feasibility Consultants – Our project feasibility work for life sciences facilities takes into account that market supply and demand issues common to any real estate feasibility study, but also the additional factors that drive the industry. The quality and number of research universities in an area, the type of research occurring at these educational institutions, the track record for government funding of such research, and the presence of existing public-private collaborations are all important to life sciences real estate success. Life sciences “clusters” featuring research universities and corporate R&D programs exist throughout the U.S. Some are longstanding and with significant critical mass while emerging clusters are in early growth in many regions.

Owner Representation for Design-Development – As owner’s reps, we work with owner to identify and retain the best team for a particular development project, including design professionals, structural and mechanical engineers, and a general contractor with specialty subs. We collaborate with potential tenants or owner-occupier end users for the life sciences campus, ensuring their facility requirements are delivered.

Additional information about our office and industrial project consulting practice, and our wok as life sciences real estate consultants in particular, is available at this link:

Office and Industrial Project Consulting at StoneCreek Partners

Work flow is the essential consideration in planning life sciences facilities. Desktops and cubicles are situated in particular ways for access to wet benches, incubation chambers, vivarium areas, and hazardous materials disposal.

Hotel Project Feasibility Consultants

22.11.2020 News about hotels and destination resorts, News about redevelopment and regeneration, StoneCreek Partners News and Research

Our work as hotel project feasibility consultants starts with market analysis and the feasibility of new development, the acquisition and disposition of properties, and a role as owner representative and asset manager on behalf of owner.

Of course, as the hotel industry manages through the difficult circumstances wrought by the Covid-19 pandemic, the focus of much of our consulting work has necessarily changed. Operating occupancies in the U.S. remain at or about 40% (less in many international regions) and travelers have changing preferences for their accommodations.

As a real estate investment asset class, branded hotels and resorts are now in a period of focused reexamination.

Many hotel branded products that have depended upon corporate meetings and travel, are currently obsolescent from an economic standpoint, while other lodging products are proving almost pandemic-proof. As one of the significant real estate investment asset classes, branded hotels and resorts are now in a period of focused reexamination.

Some examples of our recent work as hotel project feasibility consultants, include:

Planning as part of collaborative design teams, to support client mixed-use redevelopment opportunities, particularly as part of solutions for failing shopping malls;

Feasibility, business planning, and conceptual design for new glamping and eco-resort products, recreational vehicle (RV) parks and campgrounds, as well as major recreation adventure resorts;

Assistance to local governments in restarting regional visitor destinations, as a means of boosting local economic development;

More traditional consulting support, such as project feasibility studies for new development, and due diligence for client acquisitions – whether single properties or portfolios.

Our firm’s essential value to clients is our hands-on experience in designing, developing, and operating projects and businesses. StoneCreek Partners is led by co-founder Don Bredberg and his substantial experience as an executive with The Irvine Company, NBCUniversal, and the Riyadh-based family office of Newfield Enterprises International.

Glamping accommodations conceptual design - Adventure Entertainment Cos.

Glamping and eco-resort accommodations are likely to do well in coming years, as travelers adapt to a world of social distancing and health concerns.

The firm was first established in 1984 in Los Angeles, and is now headquartered in Nevada. Our work as hotel project feasibility consultants got started shortly after the firm’s founding. In those early days, as part of managing a portfolio of luxury hotels for a Saudi family office, our firm’s co-founder Don Bredberg was one of the initial founder members of the Hotel Asset Manager’s Association.

Additional information about our hotel and resort consulting practice, is available at the link below:

StoneCreek Partners – Hotel, Resort, and Accommodations Consulting Practice

Asset Management Consultants - shopping mall

Tri-City Shopping Center – Owner’s Rep

01.09.2019 Facility Asset Managers and Consultants, Malls and Shopping Center Consultants, Property inspection services

A+O Properties, Inc. (Los Angeles) | Owner representative, tenant leasing rep, and property manager for community shopping center in Redlands, California. Work included owner representation to other investor groups and anchor tenants involved with center ownership. Self-administered property inspection services and tenant lease audit matters.

StoneCreek’s work included the preparation of redevelopment plans for this major Inland Empire region property, a plan that envisioned a mixed-use district dubbed, “Redlands Marketplace.” Shown below, the facility’s owner’s at the time reviewing redevelopment plans. A unique feature of the great value for the property is the more than 1-mile of north-facing interstate highway frontage bordering the northern boundary of the Tri-City shopping center property. Interstate 10 is one of the primary routes to and from Southern California mountain and desert recreation areas, ski areas, Palm Springs, and the like.