Sophos Equities identifies opportunities in distressed single owner/operators and stalled lease-up projects.
COVID-19 triggered a cascade of changes that brought life as we knew it to an utter halt. In many respects the seniors housing market was viewed prior to this event as the juggernaut that would keep growing thanks to the silver tsunami, or the aging of the Baby Boomer generation. The future was bright, and adequate seniors housing simply could not be built quickly enough. With the global pandemic, however, the turmoil caused for existing companies and new construction wreaked havoc, not to mention the incredible toll of human lives. Many of the Greatest Generation lived their last days.
I was fortunate to begin my career in an organization that cared about executing the business well … for the sake of the residents in its care. I came up through Atria Senior Living with the engrained mindset that we took care of residents at all costs, and if we did the right thing then profits would come. I was thankful to do this on the frontlines of natural disasters - hurricanes and wildfires alike - in the rehabilitation of struggling communities going through acquisition or redevelopment.
Merging this background with the current struggles facing those who take care of the elderly, Sophos is well-positioned to step into challenging situations and ensure the well-being of both the investors/operators and the residents who are the pinnacle of our collective responsibility. We are privileged to work shoulder-to-shoulder with others who value the object of our toiling as much as we do. The challenges facing us are shifting in nature, and we look forward to addressing both the present needs and the looming missing middle market crisis together.
Principal, Sophos Equities
I hold a BA in Biology/History from the University of Kentucky, MBA from the University of Louisville, and MRED from the Price School of Public Policy at the University of Southern California. I have a passion for enabling public good through technology and have done this through two startups and six years at Atria Senior Living with roles in business analysis, product management, asset management & owner relations, and redevelopment. Most recently I led Atria’s redevelopment platform in the field for the West coast. While I am frequently on the road, I call Northern California home.
We're actively looking for deals that meet the following criteria.
Not every distressed scenario will pencil to an acquisition. Most non-performing assets today will not sell for their book value or will result in a total loss of capital. We believe there is still opportunity for challenged owners/lenders to ride the asset to break-even (and a better disposition market) through intensive asset management.
We partner with both lenders who hold non-performing loans to carefully shepherd their communities (and residents) back to a strong position.
We invest in distressed opportunities in the seniors housing space and support struggling owners/lenders through
This distress typically takes two forms: single owner/operators seeking to exit the business, and new developments that have stalled in lease-up due to market factors.
Typical deal size is 100+ apartments ranging from $20-$250MM purchase price (preference toward portfolios).
We have both an operating history and operating partnerships in most major markets. With the correct operating partner, we are open to any market.
We are further open to investments in high quality operating platforms, not simply real estate.
We're actively evaluating acquisition opportunities, and open to investors. Let's talk!
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