In addition to the acquisition of two Assisted Living Residences, Levante has continued to see a robust private equity raise during 2019 with approximately $9.0M (CDN) raised by October 2019 and an expected year end close of approximately $12.M (CDN) which will be equal to last years Private Equity raise.
Our 2019 Private Equity Raise has come from the following Exempt Market Dealers (EMD’s); Liahona Capital, Pinnacle Wealth, Rethink & Diversify and Spotlight Capital. We have signed an additional EMD, Axcess Capital, in the 3rd quarter of 2019 and are expecting a strong sales roll out in the 4th quarter of 2019 & 1st quarter of 2020.
We are also under review for a potential expansion of our Private Equity Raise activity through the IIROC channel in 2020.
In Operations, Levante Living is in the process of renovating one of our smaller “Class C” residences into a brand new “boutique” retirement residence. Upon completion, we hope to capture value in the form of increased rent and care packages as well as increased property value.
Kim Petersen, Director of Senior Living, designed and is in the process of implementing the Levante Value Creation Strategy (LVCS), a way to qualify, quantifiy and systemize the various ways Levante can capture value and enhance services to our residents.
- Occupancy: Marketing evaluation, staff training, senior living improvements, “refreshment” or renovation of rooms.
- Rates: Assessment of rental care rates in area, creation of applicable care packages.
- Services: Consolidate and streamline operational services like: IT, inventory management, supplier incentive programs, internal process improvements, marketing.
- Redevelopment: Updating and upgrading B & C residences to enhance positive experience to our residents, drive occupancy, increase appraisals and drive value to our investors.
With improved efficiencies and a streamlined budget, Levante continues to be poised for high growth and an ongoing stable yield.
Due to the combined industry experience of our staff and our significant growth in a short amount of time, there has been a fair amount of interest in our fund.
If you or some one you know is interested in capturing value, now, at the early stage of this venture please feel free to contact your dealing representative or directly.