Phoenix, AZ · Member since 2009 · 61 posts · 17 votes
My Co-worker's parents have about 12 acres South West of Farmington CT. In recent years the area surrounding their house has quickly been developed. A couple of the developers have been Assisted Living Facilities.
He is wanting to see if there is some way to lease his parents land to one of these developers, so his parents can either retire to one of the Facilities, or provide them with a monthly income so they can live in another one. They owned a couple farms, but have no long term care insurance.
Is there some type of process to solicit an investor who specializes in one these places?
There are many ways to go about this . Developing for a business instead of a house has more steps for funding, building, and then leasing. But getting a good team from investors, representation and final facility management is key. Private message me and I will be happy to go over initial steps.
As someone in the development industry for senior care (AL and MC), I have rarely seen a ground lease for senior living buildings. If there are already built assisted living facilities, there likely isn't excess demand to justify building another facility. Best plan is to sell the land, invest the money and live off of the income.