Skilled Nursing Ownership Undergoing Big Shift

Stephen Rosenberg, Greystone’s founder and chief executive officer.

CHICAGO—The skilled nursing industry is in the midst of some profound changes, including a significant shift in who owns such properties. These regulatory, operational and market challenges were on the minds of the more than three thousand attendees at the National Investment Center’s Fall Conference, held this week in Chicago. At the conference, GlobeSt.com sat down with officials from Greystone, a New York-based lender that also owns and operates a large number of properties for seniors, to discuss the sea change taking place.

One of the big realizations within the skilled nursing industry in the past few years is that it’s difficult to operate on a national scale, Mark R. Jarrell, head of the portfolio lending group, tells GlobeSt.com. The regulations that govern such businesses are unique to each state, and some can be quite stringent. Local knowledge, and personal relationships with regulators, can be the key to a successful operation.