Other Types of Properties in the Healthcare Sector

Wally Smith:
That’s nice. That’s excellent. Mike, you mentioned you’ve been in the healthcare industry for 10 years or so. We’re talking here mostly about senior living and memory care, but what are the other sectors? What are the other kinds of assets or properties that are in the healthcare sector?

Mike Jones:
Sure. So when we talk about seniors housing, we talk about levels of acuity. That’s based on the amount of needs a senior would have. And so within that spectrum, you go from 55 plus apartments, which essentially just an age-restricted market rate multi-family deal, all the way through your sub-acute post-rehab skilled nursing facility. And so like Patrick said, we like to focus on assisted living and memory care. We do have some component of independent living, which is seniors who don’t yet have needs but want to be provided meals at the residences. And so they’ll have an apartment, but they act as feeders into our assisted living and/or memory care from there. So there, our independent living component of any of our communities is a relatively small percentage.