Hollander Properties Scouting For More MOBs, Assisted Living
Its one thing to just invest in a medical property. Its another to also operate that property. But Hollander Properties Elliott Hollander has been engaged in both since forming his company in 2011. We chatted with Elliott at Egg Harbor in Sandy Springs, fresh from a recent acquisition of Summers Landing Northland, a 52-bed assisted living facility off Northland Drive he picked up for $4.5M. Elliott tells us hes attracted to assisted living facilities because there are fewer investors to compete with, while an aging population will feed demand for care. Focused on the Southeast and with a kitty of individual investors, Elliott says hes seeking more product-- especially those he can personally operate.
Heres Summers Landing, part of a four-property portfolio he recently acquired and now operates under his moniker. Elliott says his firm is eying sites in metro Atlanta for ground-up development, including a 100-bed facility he plans to announce soon. When asked how he divides his attention between CRE investing and the often Byzantine world of healthcare, Elliott says the licensing to operate an assisted living facility is less onerous than a skilled nursing facility. Plus, his properties are private-pay and not supported by Medicare.
