Houston Senior Housing: The Silver Tsunami

Mr. Will began his career with the predecessor company to CBRE Capital Markets, and helped launch the senior housing debt practice for the firm. In 2016, Mr. Will was named the youngest Vice Chairman in company history. Today, Mr. Will Co-Heads National Senior Housing for CBRE Capital Markets. Mr. Will along with partners Lisa Widmier, Matthew Whitlock, possess a combined 73-year Senior Housing-specific industry experience and $25 billion in transaction volume. His specialty is the capitalization of Independent Living, Assisted Living, Alzheimer’s Care and Skilled Nursing facilities. Mr. Will’s primary focus is on the origination of new business, the analysis of debt and equity investment opportunities, valuation and investment underwriting. Over the past 11 years, Mr. Will’s DSF team closed approximately $7.8+ billion in debt and equity for this specialty type and is one of the few real estate investment advisors whose platform includes: Fannie Mae (DUS certified lender), Freddie Mac (seller/servicer) and HUD/FHA, along with all the traditional lending sources. CBRE has been a Top 2 senior housing originator from 2010 through 2017. In 2015 through 2017, the team originated over $3.7 billion in senior housing debt across 176 assets nationwide. In 2016, CBRE was Fannie Mae’s #1 senior housing originator in the country. CBRE was the #1 GSE lender in the nation in 2017 with $18B in Fannie Mae and Freddie Mac originations. In addition to permanent debt placement and construction financing, the team has helped structure joint ventures between seasoned operators and institutional partners and has also sourced equity for development and acquisitions on a project specific and programmatic basis.

Mr. Mark Andrews joined Greystone in 1984. He has been involved in the planning, development and financing of more than $3 billion in senior living projects. Today, Mr. Andrews develops new client relationships and oversees Greystone’s services, including advisory, consulting, development, marketing and management. He is also a frequent speaker at regional and national conferences. Mr. Andrews earned a Bachelor of Arts degree in Economics from the University of the South and a Masters of Business Administration from Tulane University.

Cortland Partners Chief Economist Brad Dillman has more than 10 years of expertise in single-family and commercial real estate investment analysis, credit and quantitative modeling. The London School of Economics and Political Science-educated analyst and strategist boosts Cortland’s investment decision-making by monitoring and reporting on the economy, capital markets and multifamily development. As the Atlanta-based global multifamily developer’s in-house researcher, he informs investment leadership’s decision-making by monitoring and tracking economic, capital market and industry trends. Dillman is a certified Financial Risk Manager, a Chartered Alternative Investment Analyst and member of the Global Association of Risk Professionals.

Cristopher Farrar is a Principal at Cokinos | Young where he focuses his practice on drafting construction, engineering and architectural agreements, along with services and operations related contracts and oilfield service transactions. Cristopher represents clients in every industry including commercial, energy, oil & gas, power, renewable, manufacturing, chemical, pipeline, offshore and infrastructure on a wide range of sophisticated and complex project development matters. He has extensive experience managing matters involving capital improvements and large asset-based transactions ranging from $25 million to over $2 billion and leads on major matters for world-wide projects. Having gained experience as in-house counsel for several international engineering and construction companies, Cristopher continues to serve as “quasi” in-house counsel for his clients. He works as a trusted advisor and consultant on construction projects by leading clients through the development and negotiation of project documents. He has significant expertise on a wide range of transactions throughout the entire project cycle, from selection of the proper delivery system through punch list completion. Cristopher has drafted and negotiated bespoke agreements, including unique, one-of-a-kind contractual arrangements, as well as industry forms such as AIA and FIDIC. He has drafted and negotiated project-related agreements for major projects in North and South America, the Middle East, Europe, Russia and Africa and has lived in the Middle East while advising a National Oil Company. With projects and construction, disputes are inevitable. Cristopher regularly assists his clients in resolving disputes through change orders, variations, litigation and all forms of alternative dispute resolution. Each project has risk in schedule, technology, cost, volatility, markets, shareholders, and safety and health. Cristopher works with his clients to mitigate those risks, and resolve any disputes successfully and efficiently. Cristopher Farrar has been recognized by Thomson Reuters and the Legal 500 for his experience and expertise.

Paul Mullin has been the leader of Silverado’s Community Development organization since 2006. Paul has national responsibility for Silverado’s real estate development, leases and business development. He advises Silverado’s executive team on real estate acquisition, strategic planning and new business initiatives. Paul has lectured at many national events and is a member of many community service and nonprofit organizations, including USC Davis School of Gerontology’s board of councilors and National Investment Center for Senior Housing’s future leaders council. Paul earned his BA from University of California, Santa Barbara, and his MBA from University of Southern California.

As the Co-Founder and Chief Operating Officer of Avanti Senior Living, Alford is passionate about empowering older adults with endless choices, state-of-the-art technology, sophisticated living and care and wellness that surpasses the highest benchmarks. Throughout her career, Lori has embraced the “disruptive theory” and has explored ways to challenge the status quo in order to improve the life of seniors and workplace environment. As one of senior living’s most respected innovators, Lori draws from nearly 20 years of experience in senior living as she forges industry-transforming practices and perceptions for senior living. Her passion is focusing on the people and creating a culture of empowerment and pride. Previously, she served as COO of one of the largest assisted living companies in the industry where she was responsible for 32 communities across 10 states and an annual revenues of more than $100M. Lori is actively involved in disrupting the industry and is a frequent speaker and panelist. She has a passion for inspiring women to achieve the best they can be!

Senior care has been a passion of Carl’s ever since he watched his grandfather, a decorated WWII Marine Corps Tank Commander, pass away in a Medicaid bed at a nursing home. At the time, Carl was just a young man starting out in business and there was only so much he and his family could do to care for “Papa” with the resources the family had. Carl’s mother, a long time single mom working hard to support her family, acted as Papa’s caregiver in the evenings while she worked her full time job during the days. Eventually Papa’s care needs were too severe and the family had to move him into a state funded facility. Soon thereafter, Carl devoted his career to serving seniors. Carl knows that his purpose in life is to serve. In his heart, this extends towards his employees, the residents they serve together, to their families, and to their surrounding communities. Carl applies this philosophy of service beyond his professional life and his free time is often completely absorbed by active involvement in youth ministry and frequent community service projects at home and abroad.

After working on our early entitlement efforts in the Chicago suburbs, David led our market entry into Silicon Valley as project manager for both San Jose and Sunnyvale. After countless trips to China, he guided our decision to withdraw from the market. By contrast, he has brilliantly led Belmont’s development and business affairs for the Mexico City launch. This is all the more impressive when our market entry into Southeast Florida is put in relief. Thanks to David, we are now under construction in Fort Lauderdale on the largest Belmont Village ever, scheduled to open next year. In addition to sourcing new opportunities for Belmont in Southeast Florida, David was recently elected to the Board of Florida Argentum, and is an active participant for industry advocacy in Tallahassee.  Senior Vice President - Development Mischer Investments -Apr 2004 – Apr 2013 Prior to Belmont Village, David was responsible for the acquisition, development, operations and sales of suburban, mixed-use developments. The Vintage, a 630 acre mixed use development in northwest Houston, included over 300 single family homes and townhomes ranging in price from $200,000 to $2.5 million, 1,500 multifamily residences, 160 senior housing units, 700,000 square feet of retail space, a 106 bed hospital, 70,000 square feet of medical office, and a hotel. Over 20 land sales transactions closed exceeding $80 million in gross revenues.

Elena’s area of expertise is in the healthcare and senior housing sectors of real estate. She also has experience in corporate office, life science, retail, land transactions and investment sales. Her clients include physicians, multispecialty groups, hospitals, developers, senior housing operators and owners in addition to private investors. Prior to joining Colliers in 2014, Elena was a Senior Healthcare Real Estate Advisor with Coldwell Banker Commercial Healthcare Services Group. Elena’s past career as a cancer research scientist with the world’s best cancer centers and research institutions has led her to choose her core areas of specialization. Being actively involved with the healthcare industry through the American College of Healthcare Executives (ACHE) and the Medical Group Management Association (MGMA), helps her to stay updated with the needs of this industry and to better serve her clients. The most rewarding part of her job is developing relationships with clients and gaining their trust and confidence as their real estate advisor. In regards to real estate transactions, what she enjoy most of all is research, analysis and negotiations.