The building doesn't fail. The operator does.

A former Kayne Anderson advisor's seven-question checklist for evaluating any senior housing investment.

  • Why Occupancy and Rent Roll Tell You Almost Nothing About Risk

    The two numbers every operator leads with, and what they hide.

  • The Staffing and Retention Numbers That Predict an Operator's Failure 18 Months Early

    What to ask for, and the benchmark to judge the answer against.

  • What Replacement-Operator Rights Are, and Why You Never Invest Without Them

    The clause that decides whether a bad operator is a setback or a total loss.