Focusing on the Top Performing Seniors Housing Sector

Chicago, June 29, 2023 – Partner Valuation Advisors, a national commercial real estate valuation advisory firm, continues its rapid growth across the country, furthering its position as the fastest-growing commercial real estate valuation advisory firm in the U.S. Partner Valuation Advisors has expanded its seniors housing team with the hiring of seven professionals. The new additions are spread across four states and include Shawn-James O’Connor, Executive Vice President, Patrick McCrae, Director, Andrea Roberts, Director, Bradley Grossa, Director, Allison Stavinoha, Director, Karlie Guta, Senior Vice President, and Jacob Sandler, Associate.

Partner Valuation Advisors’ Senior Managing Director Eric Enloe, MAI, CRE, FRICS, said, “Our footprint has rapidly expanded nationally over the past 10 months, and we continue to build our specialty practice teams to better serve clients through unrivaled expertise assembled to manage complex asset valuations. Under the leadership of national seniors housing practice leader, Brian Chandler, the addition of these seven team members positions Partner Valuation Advisors as the premier seniors housing valuation team in the country, which is why the largest investors and lenders in this sector rely on us as a trusted advisor helping guide strategic decisions.”

The seniors housing sector has proven to be a top performer during recessionary periods due to the needs-based nature of the asset class. There are significant amounts of capital currently on the sidelines that are ready to be deployed into the industry once economic pressures subside as a result of the senior housing sector’s long-term demand trends and recession-resistant nature.

The latest additions to Partner Valuation Advisors

• Shawn-James O'Connor, Executive Vice President, Denver, Colorado, brings over 23 years of expertise in seniors housing and health care. Throughout his career, he has focused on valuation and consulting engagements encompassing a diverse range of seniors housing and long-term care properties. His extensive experience includes conducting numerous comprehensive appraisals nationally, with a particular emphasis on multi-level care retirement campuses and continuing care retirement communities (CCRCs). Furthermore, Mr. O'Connor has demonstrated his proficiency as an expert witness. His expertise has been sought in various legal proceedings, including those before the State Board of Assessment Appeals Court in Colorado, the State Board of Equalization in Arizona, and the Board of Equalization in Missouri. He previously served at JLL Valuation & Advisory as well as Cushman & Wakefield and has performed valuation assignments on more than 2,000 seniors housing and healthcare assets in 49 states, the District of Columbia, and Canada.
• Patrick McCrae, Director, Florida and Pennsylvania, brings 18 years of commercial real estate experience appraising retail, office, industrial, multifamily, hotels, and special-use assets throughout the United States. He joins after serving six years as a Senior Director at JLL Valuation & Advisory. For the past 15 years, Mr. McCrae has specialized in the appraisal of seniors housing properties. Mr. McCrae has distinct experience in ad valorem tax appeal, assisting national clients by preparing appraisals for and testifying in tax appeal hearings. For several years, Mr. McCrae was appointed as a Special Magistrate by the Hillsborough County (Florida) Value Adjustment Board, where he presided over tax appeal hearings for a variety of residential and commercial property types.
• Andrea Roberts, MAI, Director, Dallas, Texas, conducts appraisals for seniors housing and health care properties nationwide. Ms. Roberts joins with 11 years of appraisal-related experience, including eight years of specialized experience appraising senior housing and health care-related properties, having most recently served at JLL Valuation & Advisory.
• Bradley Grossa, Director, Grand Rapids, Michigan, conducts appraisals for seniors housing and health care properties nationwide. He joins with seven years of appraisal experience, most recently at JLL Valuation & Advisory.
• Allison Stavinoha, Director, Plano, Texas, conducts appraisals for seniors housing and healthcare properties across the U.S. Ms. Stavinoha joins with five years of experience, having most recently served at JLL Valuation & Advisory.
• Karlie Guta, Senior Vice President, Dallas, Texas, conducts national appraisals for seniors housing and healthcare properties, however, her concentration of work has been across the Sunbelt and Pacific Northwest regions of the U.S. Ms. Guta joins with four years of experience, having most recently served at JLL Valuation & Advisory.
• Jacob Sandler, Associate, Plano, Texas, brings commercial real estate appraisal experience involving seniors housing assets nationally. He joins from JLL Valuation & Advisory and has experience in appraisal work, team management, tech development, and championing a culture of diversity, equity, and inclusion.
• Brian Chandler, MAI, CRE, FRICS, Senior Managing Director, adds, “Strong demand drivers provide a bright outlook for the seniors housing sector as the effects of an aging population will continue to impact growth in the sector. However, the next 24 months for the sector will be challenging at best. A combination of factors encompassing the lingering effects of the pandemic, labor market challenges, continued increased interest rates, rising cost of debt, increased construction costs, and higher capitalization rates is expected to continue in 2023 and will most likely produce more distressed acquisitions in the marketplace.”

Those considerations will drive a need for valuation experts who bring a deep understanding of the seniors housing sector, both from an investment standpoint as well as an operational perspective. Investors will seek advice on how to navigate the rising cost of capital that is materially impacting lending rates. Most senior housing market participants believe the actions taken by the Federal Reserve to fight rising inflation have impacted market pricing and expected investor returns. Active buyers are still in the market, but there continues to be a wider spread between the asking price and bidding price today. Deals are taking longer to transact as buyers are requesting longer due diligence periods.

Since launching in September 2022, Partner Valuation Advisors has issued over 1,236 valuations with an aggregate commercial real estate value exceeding $42 billion across 49 states. The Chicago-based, technology-forward firm has grown to more than 80 employees in 26 markets nationally, making it the fastest-growing commercial real estate valuation advisory company in the U.S. In recent months, 11 other CRE leaders have joined Partner Valuation Advisors.

Partner Valuation Advisors serves investors, lenders, investment funds, and real estate occupiers. Partner Valuation Advisors’ team members hold appraisal licenses in all 50 states and the firm has offices in Atlanta, Austin, Baltimore, Chicago, Cincinnati, Dallas, Denver, Des Moines, Indianapolis, Jacksonville, Los Angeles, Kansas City, Knoxville TN, Miami, New York City, Northern NJ, Phoenix, Raleigh, NC, Seattle, St. Louis, Tulsa, OK and Washington, D.C.

About Partner Valuation Advisors

Partner Valuation Advisors is a Chicago-based affiliate company of Partner Engineering and Science, Inc. The valuation enterprise was introduced in 2022 with the formation of a new team of leaders focused on performing commercial real estate valuations nationally for investors, lenders, and real estate occupiers. The team is led by Brandon Nunnink, CFA, and Eric Enloe, MAI, CRE, FRICS. Please visit us online at www.PartnerVal.com.

About Partner Engineering and Science, Inc.

Partner is the most trusted choice for third-party due diligence and consulting in the commercial real estate industry, providing full-service engineering, environmental, and energy services throughout the Americas, Europe, and around the globe. With a multidisciplinary approach, Partner serves clients at all stages from initial due diligence and design to development and construction, as well as the ongoing maintenance and optimization of a real estate asset. 

Media Contact:

Partner Engineering and Science
Erika Haberlen
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310-615-4500
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