Lapis invests in senior living and other healthcare assets, including Continuing Care Retirement Communities (“CCRC”), assisted living, memory care, skilled nursing, behavioral health, hospitals, and medical office buildings. With decades of industry experience and extensive sector relationships, our team is well-positioned to identify opportunities, structure tailored capital solutions, and drive sustained value creation.
Lapis acquires a wide variety of assets on behalf of its funds and SMAs with an emphasis on those requiring meaningful operational improvement. Our approach is specific to each situation and may include changes to management and extensive capital improvements and strategic repositioning.
We buy and refinance existing debts in performing and defaulted credits, including tax-exempt bonds, private loans, and bank portfolios. We have executed more than 60 turnarounds, developing deep expertise in repositioning assets and guiding outcomes within complex capital structures.
A 500-unit premier senior living community in Dallas, TX. Lapis led the restructuring efforts and acquired the property through a bankruptcy auction. Lapis implemented a comprehensive capital investment and turnaround plan to stabilize and reestablish the community.
A 250+ unit independent living and assisted living community located in Shillington, PA. Lapis acquired the property through a consensual deed-in-lieu transaction following the purchase of a defaulted bank loan portfolio. Lapis implemented a value-enhancement strategy that included development of a Personal & Memory Care building and sold the campus to a not-for-profit operator, preserving tax exemption.
Lapis financed the acquisition of two hospitals in central Washington State which later faced significant revenue cycle challenges as well as volume declines due to COVID. Through active engagement and financial support, including debtor-in-possession financing, Lapis facilitated an affiliation with a larger state health system.
An independent living-only community with an emphasis on an active adult lifestyle in Geneva, IL. Lapis implemented a refinancing solution for a defaulted bank loan using tax-exempt bonds. The financing provided funds for capital improvements and operational ramp-up while retaining non-profit ownership.
DISCLAIMER: Sample transactions have been selected to demonstrate the firm’s investment approach and are not necessarily representative of all investments made. These examples were chosen based on non-performance criteria. There can be no assurance that similar opportunities will be available in the future.