Scott Hougham - Senior Housing @ScottHougham Twitter profile

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Scott Hougham - Senior Housing

@ScottHougham

8 months

My professional life/efforts, summarized in a pinned thread of tweets:

Scott Hougham - Senior Housing

@ScottHougham

2 years

New followers, and I've been quiet for a while. A bit about me: I'm an operator-first capital allocator in seniors housing at @SophosEquities . We're focused on acquiring newer distressed/stalled assets - COVID was rough on this asset class.

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Scott Hougham - Senior Housing

@ScottHougham

6 months

@austin_rief Splay makes a nice leather crossover. These have taken 10 mile+ business days.

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Scott Hougham - Senior Housing

@ScottHougham

2 years

@DavidSacks FYI, the link isn’t working within the twitter mobile app - it’s trying to link to a web browser.

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Scott Hougham - Senior Housing

@ScottHougham

2 years

New followers, and I've been quiet for a while. A bit about me: I'm an operator-first capital allocator in seniors housing at @SophosEquities . We're focused on acquiring newer distressed/stalled assets - COVID was rough on this asset class.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

Publicly Traded Seniors Housing Companies In an effort to expand awareness/interest in seniors housing on this platform, I'll be sharing Q2 earnings report/call information & commentary as it is released. Note, I'm not a stock analyst, I do not own any of these (historically

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Scott Hougham - Senior Housing

@ScottHougham

1 year

The escalation of debt service never fails to stun me on deal rooms we receive. Many sellers are getting forced into the market because the carrying cost is too high, but are refusing to accept market-clearing offers because they'd get wiped out. The squeeze is tightening.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

We are seeing assets bucketed into four categories of lending potential - or rather, the peaks & troughs of a truncated bimodal distribution. Zone 1 - DSCR so low that the lender is wiped out. Example: Coastal CA asset purchased for $40MM two years ago. Senior/mezz stack at

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Scott Hougham - Senior Housing

@ScottHougham

6 months

@DallasAptGP @JohnLeFevre Carless. Pedestrians in a walkable city.

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Scott Hougham - Senior Housing

@ScottHougham

2 years

@JoeCassandra @ShlomoChopp @antonia_mdprjct Workers comp all the way.

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Scott Hougham - Senior Housing

@ScottHougham

4 years

@nealkhosla Haha PayPal seized upon the opportunity to target me directly below your tweet.

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Scott Hougham - Senior Housing

@ScottHougham

8 months

Had some time on my hands this afternoon for an unexpected quick trip up to NYC ( reTwit meetup later today). I was able to check out the developments. My old team did here in the city. I present Coterie Hudson Yards:

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Scott Hougham - Senior Housing

@ScottHougham

8 months

@moseskagan Best advice I received from contracts law prof in grad school: always sit down with a cup of coffee to read contracts and take your time. The worst errors are only caught when you read in an unhurried fashion.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

@ChelseaNMandel Paris tried this, then converted to free use due to public outcry.

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Scott Hougham - Senior Housing

@ScottHougham

8 months

Incredible meetup tonight in NYC - thank you @CleanTo2ndLien for organizing and @bridgelenderguy for the invite. It was good to see @antonia_mdprjct again and meet @aussieflya @TexasDoughnut_ @ariel1429 @BennyCheng14 @doggedtenacity . Talk to you all shortly.

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Scott Hougham - Senior Housing

@ScottHougham

3 years

@JillianMurrish May be doubling up elsewhere from the thread, but these VCs come to mind: @cyantist @ArlanWasHere @jefielding @themollette @steviemctweets @LeslieFeinzaig @galeforceVC @jaimeschmidt @lolitataub @dunkhippo33

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Scott Hougham - Senior Housing

@ScottHougham

1 year

@UntrendedYOC @GrantCardone 😂 How does the entire population not see straight through this?!

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Scott Hougham - Senior Housing

@ScottHougham

1 year

Standalone Memory Care may be a minority share of seniors housing in the US, but it is rapidly becoming the most unfinanceable, untradeable subclass in the industry. Clipped from @CBRE 's 2023 seniors housing survey, standalone MC cap rates have increased as much as 84 in this

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Scott Hougham - Senior Housing

@ScottHougham

1 year

@AlTayWeiss Townhome w/shared wall . . . the neighbor got into a fight with his roommate at night. We could hear the banging of metal (barrel) and then a shotgun blast into the wall behind our headboard. Cops came, took witness statements from us out front with the suspect sitting, cuffed, a

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Scott Hougham - Senior Housing

@ScottHougham

9 months

Overheard at @InterFaceGroup Seniors Housing West last week in LA: Margins are down 5% for the foreseeable future. Will do a graphic breakdown on historical rev/exp/margins soon.

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Scott Hougham - Senior Housing

@ScottHougham

9 months

An under appreciated component of seniors housing as an asset is its radical illiquidity. In the last 10 days not a single lender deal has been worth 60% of the debt, and most have been circling the market for 6+ months. Time to face the music, but few will do this by choice.

Daniel Morgan

@dtmorgan18

9 months

An underappreciated component of single-family residential as an asset is its liquidity. It’s very rare to see a transaction take more than 30 days to close. Lenders have evolved and can now close a lot of transactions in 14 to 21 days.

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Scott Hougham - Senior Housing

@ScottHougham

9 months

I'll be at the Senate Aging Committee hearing tomorrow AM. It doesn't appear that the original letter recipients (BKD, ASL, SSL) are attending, they'll have other industry witnesses instead. Might live-tweet it if allowed.

Senate Aging Committee

@SenateAgingGOP

9 months

The Aging Committee will be holding a hearing tomorrow on assisted living facilities called Understanding Long-Term Care Options for Older Adults. Watch here⬇️

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Scott Hougham - Senior Housing

@ScottHougham

1 year

$VTR 2024 Q3 Earnings Call Notes - Move-ins exceeded 2019 levels, spot occupancy gained 180 bps over duration of quarter (210 in US). - Demand is strong and getting stronger - by 2030 20% of US pop will be 65+, 80+ pop expected to grow 25%. <-- the industry would not have cared

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Scott Hougham - Senior Housing

@ScottHougham

3 years

@KateClarkTweets I'd argue that the bandwidth of these funds to DD and vet/pursue individual deals is limited compared to VC funds. If they want to bulk up their capabilities, they'll be hiring ex-VCs. Essentially the work remains the same but the headcount is redistributed.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

@bobbyfijan Homeschool kid here…I was shipped off to the local state university at age 14 to take Calc 1-3. Can attest that this was not due to IQ, but rather from removing the vacant space of the “normal” path. We underestimate the ability of children to learn.

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Scott Hougham - Senior Housing

@ScottHougham

2 years

Welcoming my friend Andrew Montgomery, founder at @MontgomeryIG_SL to the Twittersphere. For the subniche on Twitter in seniors housing, you should give him a follow and schedule time at the next @Natl_Inv_Ctr And for those who are seniors-curious, jump aboard. Welcome Andrew!

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Scott Hougham - Senior Housing

@ScottHougham

8 months

The real ⁦ @joepohlen ⁩ live at ⁦ @Natl_Inv_Ctr ⁩ discussing middle market senior housing.

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Scott Hougham - Senior Housing

@ScottHougham

4 years

Just registered for Re-convene this Fall and couldn’t be more excited. Thanks for putting this together @moseskagan ! Hoping some of my fellow MREDs will accompany...

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Scott Hougham - Senior Housing

@ScottHougham

8 months

Heading to Dallas for @Natl_Inv_Ctr - see you soon @ScribnerCapital @ClintWMiller @coryDwake @joepohlen @taylormokris @TooSoonByLoe and the others I won’t dox here. 🚀

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Scott Hougham - Senior Housing

@ScottHougham

1 year

An operating partner called this week with a question about another bundle of assets (not ours) that were transitioned to a new operator. Needed some market intel. In short, the owner (long-time industry godfather) was dissatisfied with the management company that he himself had

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Scott Hougham - Senior Housing

@ScottHougham

1 year

@wbridgefa @joepohlen Let me help you…you don’t want them.

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Scott Hougham - Senior Housing

@ScottHougham

3 years

We need more people asking this question. Often the horizon of reward is much longer because the answer takes more work, but it is exponentially greater. Do the work.

Blake Scholl 🛫

@bscholl

3 years

1/ Heard about a Bell Labs researcher who went around asking his colleagues two questions: 1) What is the most important problem in your field? 2) Are you working on it? These are good questions, and too often the answer to the second is “no.”

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Scott Hougham - Senior Housing

@ScottHougham

1 year

I tweet a fair amount about the mistakes of sponsors/lenders in seniors housing. To be clear - this is an incredibly choppy environment to be in for any asset class right now. Those who draw my ire are not the ones who made mistakes, but the ones who are sticking their heads in

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Scott Hougham - Senior Housing

@ScottHougham

1 year

Seniors housing assets are facing an aging problem . . . no pun intended. Much of the pre-2000s stock is built for different business models (think the old "I don't want to lock my parent up there" types of buildings). In a former life, my company would take these and pump

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Scott Hougham - Senior Housing

@ScottHougham

1 year

Working with/for an older population, it is easy to fall prey to societal generalizations. One of my least favorites is that aging/sentience follows a bell curve, with infantilization defining the beginning and ending segments of life. OR, conversely, the idea we are some sort of

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Scott Hougham - Senior Housing

@ScottHougham

2 years

Finally, if you're in seniors housing but we haven't spoken, I want to meet you. So many in our asset class (myself included) can't/won't talk about our transactions on here b/c it is a small world. Thanks to the ones who do . . . trying to be a bit more like you: @SrHousing_CRE

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Scott Hougham - Senior Housing

@ScottHougham

9 months

I used to live down the street from Churchill Downs. Seniors housing is like horse racing - you have to weight the jockey (operator) before the horse (asset). Too many owners neglect this. The real estate matters, but is quickly eclipsed by poor ops.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

"I knew from the age of 6 that I wanted to work in seniors housing" . . . said nobody ever. Okay okay, there are a handful of industry vets' adultish kids who can't shed a last name and we know who they are. They're the minority. Ask most people in the seniors housing crowd how

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Scott Hougham - Senior Housing

@ScottHougham

6 months

1:48 per gallon pumped. 🤯 This place needs Gas Biz Guy.

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Scott Hougham - Senior Housing

@ScottHougham

9 months

In a twelve month period I swapped a desk outside the CEO's office for a med tech polo shirt and worked "under cover" in ~50 seniors housing communities. This was one of two periods I look back on as my "why" for doing what I do.

Christian Ruf

@pinpulleddrmf

9 months

A couple years ago I had the opportunity to buy a business with 100% seller financing. No CRM, no real org structure, and, yes, a fax machine. A word of mouth opportunity that I quit a very good role for. But there was a catch! I had to work in it as a laborer for min wage

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Scott Hougham - Senior Housing

@ScottHougham

8 months

Installation #1 – Asset Mgmt Advisory (In response to many questions recently about what we do.) Problem: There was a flood of owners who developed/acquired senior housing in the late 20-teens (or started devs that opened during COVID) who were not product specialists. The

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Scott Hougham - Senior Housing

@ScottHougham

3 years

@Jason @pmarca Poor Erin Holmes…

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Scott Hougham - Senior Housing

@ScottHougham

1 year

@lukeburgis It’s easy to underestimate the volume. We lived for a brief grad school period directly under the flight approach to the UPS Worldport in Louisville. A cargo jet flying overhead every 30 seconds at 1k feet helps to quantify. Separately, the walkable neighborhood charm of this

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Scott Hougham - Senior Housing

@ScottHougham

8 months

@JulieChangRE I’ve saved PE firms from making $2-3B in bad deals in the last three years (deals that then blew up). Unfortunately a one point fee of that is $0. Someone needs to solve how to charge firms for rescue from future events.

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Scott Hougham - Senior Housing

@ScottHougham

4 years

@blakeluse @gregisenberg Blake, my Twitter-facing life is about startups, but I’m a RE developer and currently pursuing my @USC MRED. Insane opportunities to innovate in this space as it has largely lagged the rest of the economy in progress. I look forward to following your work!

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Scott Hougham - Senior Housing

@ScottHougham

6 months

Explaining to my son over a late dinner that we just put in an offer for $__MM on a property in the best/final round. Explaining the paradox that, if we win, it means that the market doesn’t believe the asset is worth what we do, and that we then have to do the hard work of

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Scott Hougham - Senior Housing

@ScottHougham

1 year

Operators and owners are waking up today asking what they will do differently this week than last to move the needle. Seniors housing is a challenge of constant improvement. I've been working on a technology matrix highlighting the best-in-class hard/soft tech solutions in

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Scott Hougham - Senior Housing

@ScottHougham

1 year

Several zingers in Welltower's quarterly update today. I look forward to getting a thread out later tonight on the entire report.

Senior Housing News

@srhousingnews

1 year

Welltower has announced intent to dissolve a joint-venture agreement with Revera and sell its 34% ownership stake in Sunrise Senior Living to the Mississauga, Ontario-based company, which is also the operator’s owner.

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Scott Hougham - Senior Housing

@ScottHougham

8 months

Posting a @moseskagan -esque mea culpa here (which I respect him for). I deleted a post that took issue with an industry publication. The topic is existential to senior housing, but I was harsh. They updated the article, I deleted my comments. Mea culpa. Onward & upward. 🚀

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Scott Hougham - Senior Housing

@ScottHougham

1 year

"If you are going to commit yourself to something, it is easy to do something big as it is to do something small. Both will consume your time and energy, so make sure your fantasy is worthy of your pursuit, with rewards commensurate to your effort” - Stephen Schwarzman, What It

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Scott Hougham - Senior Housing

@ScottHougham

1 year

Teaser from Welltower's seniors housing Q2 business update below. Ouch. "In 4Q2022, Seniors Housing loans represented over 80% of Fannie Mae’s reserves for credit losses, despite representing just 4% of the overall multifamily portfolio loan balance." "As of 1Q2023, Seniors

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Scott Hougham - Senior Housing

@ScottHougham

1 year

“We really like you and want you to continue, but we’re out of funding and just can’t pay you anymore. Can you stay on for free?” 🫣 So came the untimely end of my first paid job after college. It was a venture-backed chemical engineering startup, and we had rapidly gained

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Scott Hougham - Senior Housing

@ScottHougham

7 months

Do any architects/designers have an explanation for why we've seen orange explode in popularity? I keep getting OMs with new buildings painted in an awful orange. This will be a faster fad than the modern farmhouse. Just looks cheap.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

We're in an unusual hole right now. Interest/cap rate pressure is driving down transaction volume and with it virtually all new construction starts have disappeared. But the corollary to this is the existing seniors housing stock, when overlaid against a steadily marching

Senior Housing News

@srhousingnews

1 year

The slow rate of new construction starts and looming demand from the baby boomers have led to “the most favorable supply demand fundamentals the industry has ever experienced,” according to the top leader of Ventas.

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Scott Hougham - Senior Housing

@ScottHougham

6 months

Good read, esp. for anyone involved with CMS/waiver programs. Thank you @zashamberg

Zach Shamberg

@zashamberg

6 months

We've always believed that long-term care should be at the center of any political campaign - especially in PA, where our fastest growing demographic is 80+, and there's now more volatility than ever in the LTC continuum. @PHCA_Cares @thecentersquare

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Scott Hougham - Senior Housing

@ScottHougham

9 months

Off to the races. Starting off w/Senator Casey opining on the high cost of AL ($55k/yr) and the antithetical statement that workers are not making enough. One drives the other.

Scott Hougham - Senior Housing

@ScottHougham

9 months

I'll be at the Senate Aging Committee hearing tomorrow AM. It doesn't appear that the original letter recipients (BKD, ASL, SSL) are attending, they'll have other industry witnesses instead. Might live-tweet it if allowed.

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Scott Hougham - Senior Housing

@ScottHougham

3 years

Early preview of 2022 from @srhousingnews . 2021 was the year of regional operators, 2022 is the national operators' time? Looking forward to discussing further at @Natl_Inv_Ctr Spring conference. Senior Living Industry Giants Face Defining Year in 2022:

Senior Living Industry Giants Face Defining Year in 2022

Last year, the expansion of regional senior living operators generated a lot of headlines. But heading into 2022, I’m most interested in how the year will

seniorhousingnews.com

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Scott Hougham - Senior Housing

@ScottHougham

1 year

@shawngorham Love this . . . except the insurance rate for this may be higher than sitting at a desk. 😂 More power to you. I've struggled with cycling for the past few years after moving away from an established cycling route without cars. I've seen too many nasty crashes.

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Scott Hougham - Senior Housing

@ScottHougham

8 months

Semi-contrarian take: we need to get more comfortable swapping out operators in senior housing. You can choose to view it as a marriage ('till disposition do us part) or a sports team (put in the right player for the play, at the right time). If it isn't working for the owner,

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Scott Hougham - Senior Housing

@ScottHougham

8 months

There is an entire class of senior housing that is stuck in a bad operator/capital pairing. The wrong operator can and does perpetually impair an asset.

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Scott Hougham - Senior Housing

@ScottHougham

8 months

“If it’s a third party management contract and the owner doesn’t have operating experience, that’s a major credit question mark.” - @ViumCapital

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Scott Hougham - Senior Housing

@ScottHougham

1 year

Another lender goes bust on a seniors housing deal akin to the field of dreams. The borrower is tying them up in BK, this is the 2nd time they've postponed the sale. Asset is sitting 90% complete (construction). No way this gets repurposed/scrapped for a fraction of the loan.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

@trdny : Axos Bank claims default on 132-unit Van Nuys senior complex Without calling out specific parties, this story is representative of a trend that banks should have defaulted 1-2 years ago but covered their eyes and are now paying a price. I have spoken with dozens of

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Scott Hougham - Senior Housing

@ScottHougham

9 months

This is equally important in seniors housing - we call it "first impressions" in the biz but basically the same principle. Often an indication of everything else going on in the building. -Is there trash in front of the building? -Enough mulch in the planters/are irrigation

Gas Biz Guy

@gas_biz

9 months

Want to know how to operate a good store? It's literally an open book test. How many signs do you see in the windows @QuikTrip how full are their trash cans? How full are yours? What does the clerk say when you want in QT? What do you say? How clean is your restroom? How

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Scott Hougham - Senior Housing

@ScottHougham

2 years

@moseskagan @ReSeedPartners @reseedrhett Staff in the cab, cohort members go in the back?

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Scott Hougham - Senior Housing

@ScottHougham

1 year

Seniors Housing by Service/Segment This question came up in several conversations yesterday, so sharing a chart from the NIC Investment Guide (good entry-level primer for anyone needing to get sea legs in the product type). Note that since this version was published (2020)

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Scott Hougham - Senior Housing

@ScottHougham

7 months

@shawngorham One of my ex-interns became SVP of FP&A for a similar individual. Fitness plans, food, drinks, etc. Wild growth.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

If seniors housing acquisitions were as general as political debates (either side), I’d be laughed out of investment committee. It would look something like this: - We’re going to rock the socks off of sales on day 1. -We’ll hit occupancy levels never seen before under our

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Scott Hougham - Senior Housing

@ScottHougham

8 months

Same issue in senior housing. Operators historically charge a mgmt fee of 5% on gross revenue. This for a business that has a 20-30% profit margin (maybe), so expenses MATTER. No alignment of interest, no incentive to manage expenses. (This is also why my fee to change

Eli Albrecht

@Eli_Albrecht

8 months

As an associate in BigLaw, I worked on a private equity deal for months. We were days away from closing and the Partners were fighting over a legal issue that would never actually occur. I spent months of sleepless nights, canceled dates with my wife, and missed my daughter's

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Scott Hougham - Senior Housing

@ScottHougham

1 year

Congratulations to @BlueprintHCRE on their Full Court Press closing. As posted yesterday, these standalone MCs are just not trading like they used to. Kudus to BP on getting it sold, and to those who can't sell . . . DM me about how to keep your doors open.

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Scott Hougham - Senior Housing

@ScottHougham

3 years

@Levijameshere Seniors housing, because it’s easy money and the operations run themselves, obviously.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

Despite recent headwinds, seniors housing is well positioned for demand growth, against a declining number of deliveries. Source: Welltower, NIC

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Scott Hougham - Senior Housing

@ScottHougham

1 year

@realest8hodler @moseskagan @gabebodhi @DallasAptGP @BarryRoland19 @Keith_Wasserman @ArtemTepler @TheRealEstateG6 If I can square peg/round hole my book in here on seniors housing for comparison, we’re looking at 10%+ UYOC even for core assets in primary markets.

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Scott Hougham - Senior Housing

@ScottHougham

2 years

@chernobelskiy My old company had 4 floors near the top until 2014. Excellent location at the time, but the building wasn’t aging well. Much of the newer business has moved East to the NuLu district.

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Scott Hougham - Senior Housing

@ScottHougham

3 years

Ran into my first in-person RE-convener over breakfast. Can confirm you all are as great in person as you are online. Excellent to meet you this morning @ravi__desai ! @REconveneLA #Reconvene

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Scott Hougham - Senior Housing

@ScottHougham

1 year

#SeniorLiving communities are seeing record-breaking rate increases in 2023, with base rents up between 8.0% to 9.8% YoY, outpacing median U.S. rent changes. Care costs are also rising faster than overall healthcare costs. Get the full picture in @Living_Path 's latest report.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

The last 2 yrs have involved significant explaining to sellers why their asset isn't worth as much as they think it is. Broker response today: "Congratulations, you get a taste of what we feel like every day." Same broker: "Appraisers are intentionally overstating valuations."

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Scott Hougham - Senior Housing

@ScottHougham

2 years

@chernobelskiy I moved back to CA several years ago, but still bullish about the city in general. It’s one step behind Nashville - tight network with people who ramp up careers on the coasts, then move back to raise a family.

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Scott Hougham - Senior Housing

@ScottHougham

9 months

@aussieflya Didn’t think they actually did underwriting. Doesn’t he “just know!!!!” when he walks in?

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Scott Hougham - Senior Housing

@ScottHougham

8 months

Installation #3 – Acquisition Criteria (In response to many questions recently about what we do. H/t to @AdamB1438 for inspiring this series, particularly this post.) We're on the market for two particular categories of senior housing assets. Note for the lay participant,

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Scott Hougham - Senior Housing

@ScottHougham

7 months

Niche post warning. Senior housing is an operating business. "Change your pharmacy . . . or else." I came across the article below tangentially in a research rabbit hole this morning (has nothing to do with this operator/asset). Families are perturbed that they have to switch

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Scott Hougham - Senior Housing

@ScottHougham

8 months

@mkobach Coming from an industry that has prognosticated regularly about the so-called Silver Tsunami: the only real lesson learned is that, at every stage, the ST has had different implications than predicted in the prior decade. Not saying you're wrong, but it isn't straightforward.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

I used to roll up to the CIO of what is now the 2nd largest operator in our space, and was the gatekeeper for every startup that wanted to pitch/pilot/sell their new hardware/software. Nearly 100% of these companies kicked off with “my grandma had X issue so I decided to build

Bobby Fijan

@bobbyfijan

1 year

This is certainly true, but is biased sample since it’s only companies There are many folks who have the skills to be technical co-founders … but are looking for the “right idea” See this a lot in proptech. Companies with technical expertise, but no clue how the business works

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Scott Hougham - Senior Housing

@ScottHougham

6 months

@iononrecourse @aussieflya I think he meant "Choose Rich"? ;)

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Scott Hougham - Senior Housing

@ScottHougham

2 years

@SrHousing_CRE #12 ) Figure out how to pay an increasingly large debt service. An increasingly smaller cohort is actually doing this.

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Scott Hougham - Senior Housing

@ScottHougham

8 months

If you’re looking at land or trying to figure out how to get deals to pencil, you should have this conversation with Shane

Shane Connor

@SrHousing_CRE

8 months

Are you a land developer, homebuilder, residential developer, equity, or related and have an interest in the growing 55+ market? Or you already touch this sector and want to grow your focus? I've created my own "deck" from various sources and my own intel in the space which

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Scott Hougham - Senior Housing

@ScottHougham

7 months

Thanks for hosting this yesterday @joepohlen ! Great to see the vertical integration that allows you to successfully tackle challenging assets many cannot touch.

Joe Pohlen

@joepohlen

8 months

Today marks 1 year since we purchased Byron Manor. A 102 unit, IL/AL/MC community in Byron Center, MI We purchased the community from a family that built the community nearly 30 years ago. It’s been a lot of work, and a lot of fun, working with the team to transition the

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Scott Hougham - Senior Housing

@ScottHougham

3 years

Social media can be toxic…but it can also be a source of tremendous good. Can’t wait to put faces to names this week at @REconveneLA . Thank you for sharing @bobbyfijan

Bobby Fijan

@bobbyfijan

3 years

Feeling thoughtful on plane to LA for Reconvene. ReTwit is unique community of smart, thoughtful folks. But I've also cherished getting to genuinely know people’s struggles, families, dogs, core beliefs etc So here’s a slightly longer intro about me: story of my personal faith

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Scott Hougham - Senior Housing

@ScottHougham

8 months

"I would rather take a sponsor with a disgusting building than a gorgeous building with a sponsor I don't want to talk to. I want them to be able to answer any question I ask with information at their very fingertips." -Senior housing lender This is an OPS business, folks.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

Another asset taken out to market months ago at a completely unreasonable price, now languishing. As @SrHousing_CRE will say, indecision is killing owners. Should’ve taken an offer back then and run. Good luck closing in this market.

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Scott Hougham - Senior Housing

@ScottHougham

4 years

@Jason DM me - we’re hiring!!!

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Scott Hougham - Senior Housing

@ScottHougham

1 year

I've honestly been debating doing this again . . . many irons in the fire right now. But the people have spoken. I'll drip these out over the next couple of weeks as these are general operational updates (nobody should be day trading, or trading at all, based on my notes).

Kyle Whittinghill

@KyWhittinghill

1 year

@ScottHougham - Scott, Scott, Scott! What time is it!? Earnings szn!

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Scott Hougham - Senior Housing

@ScottHougham

1 year

"You could have Carnegie hall, but if you can’t carry a tune in a bucket it just won’t work." - A lender today, on the status of operators mismatched with seniors housing assets. Working to get this lender on Twitter . . . decades in multiple roles at the apex of seniors

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Scott Hougham - Senior Housing

@ScottHougham

1 year

I've had three Twitter meetings so far today. Two were with family-founded companies that are decades-old. In a relatively young industry (seniors housing for anyone just seeing these posts), these are stand-out companies that formed the bedrock of those who came next.

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Scott Hougham - Senior Housing

@ScottHougham

4 years

@JordanRyan2010 @DonovanBuilds Ha! The number of conversations we had early in marriage on that one. My wife is highly supportive of some pretty wild ventures, but the duplex was an agreed no man’s land.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

@joepohlen We've started to get the social nature correct, but purpose is still lacking. I don't think this is a home/age in place vs. AL argument, but rather an issue of how we collectively look at old people and their value.

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Scott Hougham - Senior Housing

@ScottHougham

8 months

Left off @JeffFeldman_ and @CREdeallawyer

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Scott Hougham - Senior Housing

@ScottHougham

1 year

$BKD Q3 2023 Earnings Call Notes *Not financial advice, etc., etc. We are well on the way to a pre-COVID recovery, working dollars down the income statement over time. 600 bps improvement in REVPOR FTE turnover has improved 10% YoY Reached a "mutually beneficial agreement"

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Scott Hougham - Senior Housing

@ScottHougham

3 years

@SrHousing_CRE @drmoneymatters @moseskagan @gabebodhi And that, folks, is why we all love Twitter.

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Scott Hougham - Senior Housing

@ScottHougham

1 year

Seniors housing refinances are materially down . . . every conversation rn, whether with lenders or borrowers, is about the crunch and lack of movement. The tipping point that we have all been gritting our teeth for is not far off. Can't sell, can't refinance.

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Scott Hougham - Senior Housing

@ScottHougham

4 years

@SrHousing_CRE I maintain that SH is the next industrial product type. Lacks appreciation today from the general CRE public, but give it time and it will continue to grow off the charts.

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