Multifamily

ATLANTA — Investing in a quality market study is an important step for a developer to take before breaking ground on a new seniors housing community, but the analysis alone cannot predict the success of a future property. “The report gives you a point-in-time idea of where you’re at, but it doesn’t take into consideration what’s really happening within the marketplace, on the ground, in competing communities each and every day,” said Joe Jasmon, CEO and managing partner of American Healthcare Management Group, a consultant to the seniors housing and healthcare industries. According to Jasmon, in order to get a true feel of the properties you are competing against, it’s imperative to have boots on the ground. “Everybody looks good on the Internet and everybody will tell a good story on the phone,” he said. “But if you don’t actually go into these communities, you’re missing out on a whole story about the marketplace.” Jasmon’s comments came during the “Getting Good Data” panel discussion at the fifth annual InterFace Seniors Housing Southeast conference held Wednesday, Aug. 29 at the Westin Buckhead in Atlanta. The one-day event drew nearly 520 developers, lenders, investors and operators in the senior living space. Joining …