Mid-Atlantic Rate Push

Lease agreement paper

Northbridge was engaged to evaluate the financial and operational standing of four assisted living and memory care communities located in the mid-Atlantic region. These assets had faced a decline in occupancy rates during the pandemic, elevating concern with the private equity ownership regarding the operator’s capacity to execute a turnaround.

Through NAS’ proprietary audit it was determined the entire portfolio had experienced a substantial loss in revenue due to as high as 27% of existing residents committed to leases held with a previous operator. These pervious leases restricted annual increases and as a result these residents had not experienced a rate adjustment in three years. NAS pinpointed this issue, formulating a comprehensive strategy to rectify it. Our collaboration with the operator resulted in a significant adjustment, pushing these rates beyond double the yearly increase.

In addition, NAS’ roadmap for implementation included a focus on a proactive studio leasing campaign, enhancements to the memory care program, sales training systems, and refined digital lead generation practices.

  • 8-Month

    Engagement & Ongoing

  • 67% Occupancy

    55% at start of engagement

  • 2x Engagement

    Extensions at ownership's request

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Mid-Atlantic Rate Push

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