Let's face it, it takes a village. With increased stressors from multiple investment groups, staffing challenges, and inflation it is no wonder that our more challenged senior housing assets may get left behind. Some communities need a more hands-on approach from an experienced turnaround team. Check out our latest client success story!
Project Full House was a 150-bed community that offered Independent, Assisted, and Memory Care in Nevada. The community NOI for 2022 was (270k), occupancy was below 65% and the third party operator was in over their head. With the support of Agility, the Private Equity Ownership Team evaluated and installed a new third party operator, transitioned leadership and began an extensive year long turnaround plan.
After twelve months of partnership the results are astounding! Occupancy saw a 21% lift, revenues increased by 33%, and Net Operating Income saw a lift of 365%. The community has a positive net income and is cash flowing with excess funds being utilized for capital improvements. Net Income is projected to exceed $1.3 M for the year. Not only is there a $1.5 M increase in net profit from 2022 but terminal value of the asset has increased more than $3.5 Million