Healthcare real estate, underwritten from the operations up.

Our Approach

• Operations-Level Underwriting

  Healthcare real estate depends on the strength of the operating business. We underwrite from facility-level financials, line by line, rather than from top-line assumptions.

• Grounded in Public Data

  Federal and state sources, including CMS quality and staffing data, Medicare cost reports and state Medicaid reimbursement methods, inform our underwriting and are kept current as new data is released.

• Market and Operator Context

  Each facility is benchmarked against its nearest competitors and peer costs from Medicare cost reports, and revenue is tied to published Medicare and state Medicaid rates. Each operator’s public record of quality, staffing, inspections and ownership is reviewed before we partner.