Smith/Packett’s seasoned team of professionals provides expertise in the development, acquisition, and operation of long-term senior housing and related healthcare. The Company’s success hinges on working closely with community leaders, hospitals, civic groups and families to provide quality senior living and healthcare compatible with all sources of income and reimbursement systems.
Over the years, the Smith/Packett team has established solid operating partnerships and have extensive experience with governmental agencies regulating all aspects of senior care facilities. The Company’s track record speaks for itself, whether it is successfully navigating regulatory hurdles, involving complex developments, or completing projects on time and on budget.
Opportunities are abundant at Smith/Packett. For instance, in just the past 12 months, potential partners could have experienced the following:
- Invest in over 20 new construction projects totaling $147 million
- Invest in over $282 million in 29 new transactions
- Invest in projects with an average IRR of over 32%
- Participate in over 21 financings totaling over $200 million
The Company’s success in developing, acquiring, managing, and re-purposing senior living facilities, and its record for delivering consistently attractive investment returns for its funds, has resulted in a long, remarkable market performance that rivals leading private investment management firms. In the past four years alone, Smith/Packett had developed 43 senior living facilities, having an aggregate value of $412 million in the eastern United States.
During the past six years, Smith/Packett has managed six funds that have included 44 senior living facilities, having an aggregate value of $376 million. These Company funds have delivered an average annual return of 32% to its investors, making a Smith/Packett fund investment a preferred investment for many.
On an annual basis, Smith/Packett typically develops or acquires more than $100 million in various senior housing care service projects, including:
- Service-enhanced senior housing and care communities
- Active adult housing
- Independent living
- Assisted living
- Memory care
- Nursing homes
- Medical/office buildings
- Mixed use facilities
To date, Smith/Packett has developed or acquired more than 150 long-term and senior housing facilities throughout the Southeast. These properties have an aggregate value in excess of $1.5 billion, making Smith/Packett one of the largest and most prolific firms in the industry.
Currently, Smith/Packett has ownership interests in over 30 facilities and is an active investor in numerous other senior care projects. Finally, as one of the most active senior housing care developers in the country, Smith/Packett is also on the cutting edge of market, construction, licensing, and financing issues making it one of the most knowledgeable and successful developers and operators.