Promatura Opens London Office
ProMatura Group has announced that it has opened a new office in London, England. The launch of the new location enables the firm to strengthen its relationships with clients in Europe while continuing to support the age-qualified and all-age housing and care industries with world-class research methodologies.
“The opening of the London office is an important milestone to increase ProMatura’s global footprint,” said President and CEO Margaret A. Wylde. “We are committed to the European market, and the new location will further our ability to serve the ever-growing 50+ market sector.”
Senior Housing Analytics Forms New Practice
Phil Downey and Larry Rouvelas have formed Senior Housing Analytics, a consulting practice focused on senior housing market feasibility analysis and strategic development of senior living communities. Downey, a former senior vice president at Sunrise Senior Living and Marriott International, has expertise in strategic planning, product conceptualization, market feasibility analysis, site selection, and project programming. Rouvelas has unusually broad experience in senior housing, with experience in operations, development, senior housing finance and sales and marketing with Sunrise Senior Living. He also brings unique external perspective to the industry based on his experience with McKinsey & Company.
“We see a gap in today’s consulting marketplace,” said Downey. “Any assisted living feasibility analyst can calculate that a market has a 5% penetration rate. What gives the statistic meaning is comparative context: how much better or worse is that penetration rate vs. comparables? Does an alternative location have better fundamentals than a proposed site? How much is a site helped or hurt by factors like affluence and competitor quality? Senior Housing Analytics will answer these questions. We can conceptualize and test concepts tailored to the market around a specific site, or we can search for optimal target locations fitting already-defined models.”
“Senior housing is complex mix of health-care, hospitality, and multifamily. It’s both capital intensive and operations intensive,” said Rouvelas. “So assessing opportunities for senior living development, acquisition, or disposition requires deep industry expertise. We have not only analyzed these questions, but we have been at the table with major developers and operators when making go/no-go decisions.”
Aegis Living Announces New Management Division
Aegis Living announced today that it has created Aegis Performance Management as a new division to bring its expertise to the market through fee-for-service management and consulting. Aegis is entering the management services market as it sees an opportunity to be in the market where others have left based upon the economic conditions. The company feels that its expertise can assist other owner operators in maximizing the value of under performing assets.
Dwayne J. Clark, Aegis Living’s Chairman and CEO, said, "For years we turned down requests to provide third-party management because we were focused on building the value of assets in our own portfolio. Fee-for-service management didn’t make sense for us when it was just a bidding war over 5 or 6 percent fees. Now we see a different opportunity. During the 25 years I have been in this business, companies have always charged for services on a percentage of revenue, with a guaranteed minimum. Our approach to management fees is radically different; it is incentive-based and aligns our financial interests with those of our clients. And the services we will offer are exactly what I would be interested in buying for the assets I own – services that increase the value of those assets."