Market and Feasibility Studies
Province has over 35 years of experience in the Senior Housing and Health Care industry. Our experience (including management/ ownership and programming development) provides us with state-of-the-art data that is not typically available to a market and financial feasibility analyst.
Market Feasibility studies define the primary market area, as well as the secondary market draw for senior services. Our studies include supply and demand factors which are driven by market rent and unit mix, as well as amenities and services within the defined market area.
Financial Feasibility studies determine if the cost of construction meets and/or exceeds the potential value associated with the operations. Our software analyzes expenses on a per resident day basis which provides consistency in our reporting, while at the same time providing a solid base for analysis of actual costs per resident day and appropriate staffing ratios. Implementation of these applications has led to increased accuracy and reliability for our consulting services associated with Financial Feasibility analysis.
With extensive experience in valuation and advisory services, we have worked with clients, large and small, providing due diligence services on portfolio transactions. Our services also include:
- Competitive Data Verification
- Demographic Analysis
- Financial Feasibility Modeling
- Lease Review
- Transaction Support
- Private and Investment Equity Buy-Sell decisions
As experts in senior housing and healthcare, Province provides superior performance measurements and forecasting. Our management/ownership and program development has afforded our TEAM “boots on the ground” experience for all aspects of senior housing and healthcare operations, management and development to meet investment objectives and assist in optimizing the long-term value of assets.
Our TEAM is well seasoned to provide Asset Management and Performance Tracking that includes:
- Advanced analytics capabilities including analysis based on staffing (fte’s), salaries and supplies on a per resident day basis
- Up-to-Date Market Knowledge for all cost categories
- Post-Acute Care Trends for all levels of programming
- State-of-the-Art programming that is documented and outcome driven
- Proficiency in the valuation for all aspects of senior housing and healthcare property types.
Our TEAM of expert specialists work with our clients during the development phase including planning and design, zoning approvals and development construction. Our services include zoning analysis, highest and best use analyses, site development, architectural services, management services and program development, as well as market feasibility and financial feasibility studies to ensure success of the development project. Some of our services are provided through partner relationships that have been in place for over 30 years. The wide and varied experience of our development TEAM brings knowledge and insight that is not captured by most consulting services
Mixed Use (PUD) Analysis and Feasibility Studies
As senior housing PUDs continue to grow in popularity (including inter-generational communities), the mix of services and options can be difficult to navigate. Our professionals can help maximize mixed-use developments to allow for destination-type amenities and services that bring the community into the development.
Our specialty, along with our expert TEAM of analysts, provides our clients with the quality reports and services that is otherwise not available within the industry. This knowledge base provides national expertise in all aspects of senior housing and healthcare.
Sub-Specialty Appraisal Valuations include the following:
- Day Care Facilities
- Low and Moderate-Income housing
- Mixed Use Developments (senior housing and healthcare)
- Medical Malls
- Student Housing (market feasibility and appraisal)
Litigation and Expert Testimony
Province has provided expert testimony throughout the United States for over 30 years. Our varied experience and access to hands-on data, as well as operational and management experience, provides us with the unparalleled tools and capabilities required as an expert witness. Our professional clinical TEAM (Medical Doctors and Clinical Directors, as well as Counselors and our Real Estate TEAM) leads the industry on a wide variety of healthcare and senior housing asset classes.
Marriage and Partnership Dissolution
Our services include the preparation of independent, supported, trial-ready reports to ensure all analyses and conclusions are defensible.
Arbitration and Mediation
Appraisers are often called on to serve as arbitrators or mediators for healthcare and senior housing valuation issues. Our TEAM includes professionals who are experienced and knowledgeable in a variety of healthcare services. Often times, an experienced MAI appraiser working as an arbitrator or mediator is an effective way to resolve a valuation dispute.
Zoning and Land Use
At the core of all real estate valuations is a deep understanding of local zoning laws. We are experts in interpreting local zoning regulations and land use laws for client’s seeking to develop a property to its highest and best use or municipalities seeking to defend their zoning ordinance in denying variance approval.
Our professionals work with municipalities, property owners, developers and planning professionals preparing valuations and feasibility studies for use in litigation matters. We also provide valuation services, advisory services and expert testimony for municipal and county board approvals. Our professionals are well respected, providing the essential deep local market expertise and independence required in zoning and land use testimony.
Property Tax Services
Our tax appeal services provide documented unbiased property tax appeal valuations. A keen understanding regarding the break-out between the Going-Concern Value and the Real Estate Valuation assists government agencies in understanding the tax burden associated with the business versus the real estate.
Our specialty for tax appeal services revolves around CCRC’s, nursing homes and assisted living facilities.