April 6, 2016

Site Criteria

Fulcrum Development is actively searching for high quality senior living development sites in major markets throughout the Western United States. We prefer established suburban or inner-suburban locations with impressive demographics.  Primary considerations are given to coastal California and Washington sites. We will consider the purchase of independent living, assisted living and memory care communities. Our experience in development, finance, marketing and operations makes us well-suited to bring value to struggling projects.

We appreciate your assistance in making us aware of quality development, acquisition and joint venture opportunities.

Project Types

Fulcrum develops two main project types:

Freestanding Independent and Assisted Living and Memory Care

  • Project size of 80 - 150 units
  • Building size of 65,000 - 120,000 SF
  • 2-4 stories
  • Land area of 3 - 6 acres usable (larger sites will be considered)
 

Memory Care Facilities

  • Project size of 40 - 80 beds
  • Building size of 23,000 - 40,000 SF
  • 1-2 stories
  • Typically a single story building but two story considered in urban areas
  • Land area of 1 (if two stories allowed) - 3 acres
  • Larger sites will be considered and smaller sites may work if higher density is allowed and/or if structured parking is feasible.

Fulcrum will consider the acquisition of other types of senior living projects that do not fit neatly within the above categories.

Senior Living Site Criteria

The typical senior living decision-maker is a well-educated, middle- to upper-middle- income "adult child" (age 45 - 60) who is making or strongly influencing a decision on behalf of an elderly parent. The residents themselves will often move to the project from outside of the market area to be closer to their grown children. The adult child demographics are key to our site selection, but potential markets must also contain sufficient numbers of income-qualified seniors (age 70+). Sites must...

  • be prominently located with good visibility in an area with quality neighboring uses.
  • be in desirable areas with no adjoining negative uses (including truck yards, auto body shops, adult entertainment, funeral homes or cemeteries).
  • appeal to the adult child as well as to the senior.
  • be conveniently located near quality retail, office, dining, entertainment, schools, synagogues and churches.
  • be conveniently located near or on the commute route of the adult child and family.
  • need to be located in an area with significant amounts of residential housing.
  • locations of prime interest include I-680 corridor, North Bay, and the Peninsula and South Bay of the San Francisco Bay Area.
  • repositioning of properties is our speciality including churches, former service clubs and uses that are not considered highest and best use anymore.

Quiet or remote sites do not make a good match to our needs. Our residents and their family members prefer sites that are near their families or within the community.   Additionally, good site visibility is important to our marketing efforts.

The most important site criterion is the hardest to define: the site must be a place you would want your parents to live

Site or Project Information

The following information is required for Fulcrum to begin its review of any sites that may meet the above requirements:

  • Address (or closest cross streets)
  • Size
  • Price
  • Zoning (including mention of any unusual restrictions such as setbacks, height, etc)
  • Survey
  • Topographic survey or a description of the site (flat, hilly, etc)
  • Availability of utilities
  • Description of neighboring uses
  • Photos (limit to 2 or 3 photos; a recent aerial photo is very helpful)
  • For acquisitions, please also include current financial statements and a rent roll

Information may be sent via email or regular mail. (Email is preferred.) Please let us know if you are the owner, broker or other party. We will execute confidentiality and non-disclosure agreements as required.

Please contact us with questions:

Steve Ring
475 Gate 5 Road, Suite 316
Sausalito, CA 94965
415-489-9301 ext 102
steve@fulcrumredev.com