This was an interesting article to read, and I think personally a good idea. The challenge with this idea on senior housing will come from the commercial real estate lending side. The commercial real estate financing business moves pretty slow and they like to see that there are many very similar projects that they can draw from for comps and previous success. We’ve worked on similar projects recently and have seen that attaining a commercial real estate mortgage was more challenging in this sector, although still doable.
– Adam Horowitz, Principal of Lever Capital Partners and President of the Real Estate Capital Alliance