T here is simply a higher social mandate to what we do,” says Managing Director Brian Landrum. “Everyone on the team is passionate about the quality of care we deliver and in enriching our residents’ lives.” It’s a mandate that works perfectly with our investing and management approach: Our target is best-in-class operators and assets (primarily independent living, assisted living and memory care communities) in attractive submarkets, and our focus is on improving the quality of properties, staffs and services.   “For residents in our target demographics, price is not a significant factor. It’s all about quality. Because of our approach, we have absolute minimal resident turnover. It’s also why, in every market where we operate, we enjoy exceptional word of mouth referral rates from residents — which is the industry’s single most important marketing channel.”   In addition to the resident loyalty our Seniors Housing team has maintained over the years, the market itself offers investors an attractive quality: It’s virtually recession-proof. “In 2008, while nearly everyone else in real estate was slashing rates, we were able to increase rates 1 to 2%.” That said, Landrum notes, “We increase rates only when we need to cover higher operating costs, which our residents understand.”   Success in Seniors Housing, Landrum concludes, comes from being process-oriented, not outcome-oriented. “If you have the right processes in place, the outcome will take care of itself.” More than any HMC strategy, Seniors Housing exemplifies a core truth about our firm: It’s not just business, it’s personal. And while our team has led more than $2 billion in seniors housing transactions, we’re driven first by a deep sense of responsibility to the men and women living in our communities. REAL ASSETS Seniors Housing $367 Million Assets Under Management, including Co-Investment Funds 16.4% Fund I, Net Internal Rate of Return 30 Seniors Housing Communities in Thirteen States 15