COVID-19 and Seniors’ Housing with Brian Kimmel of First National

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Houses for sale in Ottawa

In partnership with the Real Estate Forums Club, Brian Kimmel is making his second appearance on the podcast. He is THE expert in finance on retirement homes and senior living, and has been part of the First National team for decades.

We begin with Brian painting a picture of how long-term care and retirement homes looked before the COVID-19 pandemic struck the world. He explains why this asset class has been stable throughout the pandemic and discusses challenges that these homes will be facing in the coming years.

Topics covered include:

  • The state of seniors housing right before the COVID-19 pandemic hit.
  • Average wait time to get into long-term care.
  • Long-term care homes versus retirement homes.
  • Price differences in both types of living facilities.
  • How COVID has magnified the crisis of long-term care home availability.
  • Why COVID was so devastating in long-term care homes.
  • The outlook on vaccinations getting to residents of these facilities.
  • Brian’s lack of confidence in government to build enough supply.
  • Building smaller rooms as an affordable option.
  • Private retirement home lending.
  • The reason behind why COVID has caused less move-ins.
  • Issues in underwriting retirement home deals.
  • The stability of retirement home financing throughout the pandemic.
  • Bridging gaps in vacancy as the industry waits for baby boomers to move in.
  • Where Brian would personally put investment money right now.

More about our guest…

Brian Kimmel has been a part of the First National Financial commercial team for the past 20 years, and has originated more than $4 billion in commercial financing.

Brian is a foremost specialist in apartments and seniors housing. During the past 20 years, he’s seen every type of deal that there is to see so he knows the positive precedents. His clients benefit from his vast experience as well as his commitment to them — to knowing their businesses and to understanding the intricacies of their strategies.

Known and highly respected for his transparency and candor, Brian’s clients trust him implicitly and see him as more than a lender. To them, he is a key business advisor and critical member of their teams.

The CRE Podcast is powered by First National.

In partnership with Canadian Real Estate Forums.

Join the REF Club and get access to all of the amazing events the CRE Podcast is hosting on the platform in 2021.

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