Industry

Senior Living/Real Estate/Healthcare

Company Type

Real Estate Development/Management

Size

+/- $49 Million per project

Investment Type

Equity/Debt

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A New Vision for Senior Living



Overview


Proclivity Community (PSL), a partnership between Proclivity Senior Living (Proclivity) and Paradigm Senior Living (Paradigm) is seeking $50 million to develop a high-quality senior community on 42 beautiful, wooded acres in Frankfort, KY (PSL – Frankfort)

 

Paradigm with over 31 years’ of experience is the operator and an owner of PSL. Contracted with a five-star architect, builder, engineer and an award-winning marketing team


Paradigm has over $600 million assets under management


PSL – Frankfort consists of 80 assisted Living (AL) units and 42 units of Memory Care (MC) on a 42-acre campus with amphitheater and plans for a second phase


Frankfort is host to a wide range of government services with substantial employee population of “decision makers” in the 48-65 year old demographic


Prime market with substantial demand for Independent Living (IL),  AL and MC – with seven duplex cottages to serve the demand for independent living


About Paradigm Senior Living


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Industry leaders in senior living and assisted living management with over 31 years’ experience. Cared for 49279 residents


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Instrumental in the development, operation and marketing of more than 50 successful senior housing ventures valued in excess of $500 million 


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$689 million assets and 3,000 units under management including continuum-of-care, retirement, assisted living, Alzheimer’s care and congregate care communities


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Since its inception in 1994, the company has served both profit and not-for-profit senior communities across the United States.

 


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Opportunity


Significant growth in the senior sector has accelerated the need for quality housing and services

Addresses a maturing demographic and need for quality housing and services


By 2030, the 65+ demographic will comprise 21% of the US population


Affordable, quality housing demand has outpaced available inventory


Second project planned in Norman OK, with a pipeline of further opportunities in MI, FL, TN, KY, and AL


Solution/ Strategy


Efficient Operations: Strong operator


Addressing Demand Substantial demand in the area for affordable housing and services


Marketing Strategy: Unique program and strategy, including alignment with large, high profile area churches


Locally Sourced Materials: Rock, stone, brick and timber – appealing image that fits with the local landscape


Competitive Advantage


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There is scant competition for a new senior housing development in the greater Frankfort KY and none that would be considered as a peer


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What currently exists are older and unattractive senior housing in the area


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Statistics reveal that newer state-of-the-art ALF’s will attract residents of older facilities, which becomes a hive of activity


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PSL’s substantial point of differentiation is its alignment with community-oriented churches

 



Feasibility Study


JLL, an industry leader in valuation has completed a favorable feasibility study on the project. A few key finding are as follows:

 

ABOVE AVERAGE DEMAND: Between 2021 and  2026, the market area is forecast to experience above average growth in demand for seniors  housing. Hence there is sufficient demand to support the development


COMPETITIVE POSITION: With regards to amenities, the facility is anticipated to offer a high-end package, which in turn will competitively position it with the existing inventory with the proposed development having excellent market appeal


UNDERSUPPLIED MARKET: Analysis shows the active adult 55+, independent living, assisted living, and memory care  segments to be undersupplied at this time. Only one other known pipeline project is forecast to come online within the next few years


Management Team


Stephen Bolt, Founder/CEO 

Highly experienced executive within the senior development industry and with a sophisticated background in retail financial services


Previously expert guest on CBN, Bloomberg TV, CNN and Regional Fox, and a recurring guest on “In the Zone”. Author of Money For Life, Money on Loan From God and It’s More Than Just a Race


Ten time SEC champion for the University of Alabama and subsequently a world-class runner with sponsorship from Nike, Adidas, Puma, and others. Inducted into the State of Alabama Sports Hall of Fame.  Developed a faith-based financial services company backed by hedge funds and a $130 million proprietary values-based asset management platform


In 2009, began due diligence into the emerging senior housing industry focusing on faith and value-based communities. Resides just outside Nashville TN with his wife. Acquired a Certified Financial Planner degree in 1994. 

Lee Cory, President and Founder – Paradigm Senior Living

Thirty years of experience while instrumental in the acquisition, and development and operation of more than 60 Senior Living Communities totaling 7,500+ living units and valued at more than $750MM


Project types include CCRC’s, Congregate Retirement, Assisted Living, and dementia care communities


Paradigm Senior Living is a professional services company which provides facility management, marketing support, and development/feasibility consulting services, to the multifamily, senior housing and assisted living industries

Donald Troy Williams, Development Partner  

Highly accomplished and respected developer in the Frankfort KY area


Graduated from Franklin County High School and then went on to attain a Civil Engineering degree from the University of Kentucky. Received his Professional Engineer license from the state of Kentucky in 1991


Founder of Meyer – Williams Construction and Development Enterprise which designs, develops and constructs retail, commercial and residential properties. Meyer-Williams owns, leases and manages approximately $3.5 million retail and residential properties


Member or partner in several other local business.  Well respected member of the community having served as President of the Frankfort Homebuilder’s Association, as well as on the Board of Directors of numerous other local organizations


Serves on the Good Shepherd Church School and Finance Council. Married with four children and resides in the Frankfort Country Club neighborhood

Proclivity Senior Living Communnity

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Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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