Lacy has more than 15 years of experience in senior housing, including a stint with the Marcus & Millichap senior housing unit before joining Ramsey-Shilling. Lacy tells GlobeSt.com that he formed Senior Realty Advisors more than two years ago to provide a source of specialized knowledge about the industry. The firm formerly operated as a unit within Ramsey-Shilling, but it will now operate independently. His firm works closely with a host of companies specializing in all facets of senior housing, such as accounting, law, marketing and operations.

Lacy, in the last 15 years, has been involved with projects and facilities valued at more than $450 million, served as an expert witness in court cases and worked with local governments as a consultant on zoning issues related to senior housing.

Lacy says Senior Realty Advisors is looking for a broad range of deals, from operators who are looking to grow regionally to those who have decided senior housing is not for them and are looking for an exit strategy. He says the firm's focus is not just on doing real estate deals, but on finding the most appropriate solution for every situation.

Lacy says the senior housing industry is still recovering from overbuilding and other problems that followed a surge of development. "The industry over the last several years has had to make some major adjusting and will continue to do so for the next two to three years," he says. These adjustments will come in the form of consolidation, stronger local operators and "some very deep-pocket players," he says.