Stellar Senior Living owns and operates senior living communities — it’s our business. We work hard everyday to provide full, healthy, and profitable senior living communities for our partners.
We manage your senior living project.
Stellar Senior Living manages senior living properties — it’s our business. Everything about our company is designed to promote the profitability of your senior living projects and we do that by prioritizing quality care for residents and enriching work environments for our employees. We treat our third-party managed properties with experience and expertise as if they are our own.
Senior living community operations management.
Stellar Senior Living is dedicated to the development and operation of successful residential living environments for senior adults. We are committed to working with clients and employees who share the values of service, inspiration, integrity, and joy for senior residents. Stellar Senior Living operates various models of senior care residential communities, including Independent Living, Assisted Living and Alzheimer’s/dementia care.
New Developments
The Stellar Senior Living has been involved in many successful new development projects. We have developed a key standards to implement when planning and building a senior living community. Give us a call, we'd gladly review your project with you.
- Feasibility
- Proforma
- Development
- Funding
- Licensing
- Marketing
- Hiring
Operations Principles
Stellar recognizes that seniors seek a unique combination of housing and personalized supportive services. We aim to offer both high quality environments and high quality service.
- Management
- Care
- Dining
- Maintenance
- Human Resources
- Accounting
- Automation
- Service
- Inspiration
- Integrity
- Joy
- Our supreme goal is to do and be the best in all that we undertake, and to provide a stellar life for our residents, their families, and our employees.
Principals of Resident Care
It’s easy, Residents first. Do what’s right for the resident and the community will thrive on providing a healthy living environment for all.
Success Stories
Case Studies
Stellar started their portfolio through the sale lease-back of four properties that were previously managed by Leisure Care. Stellar increased the occupancy from the low 80% range to over 95% and increased NOI from $3M to $7M
Occupancy – From 82% to 96%
- DEI Sales Training Program.
- Hired all new sales staff (aka, “Family Advisors”).
- Two Family Advisors at each location.
- Occupancy Meetings: Weekly accounting with Stellar Home Office.
Revenue – From $13M to $21M
- SRP: Sales bonus strategy that promotes revenue increases.
- Aggressive rent and care increases to match market demand.
Expenses – From $10M to $13M
- Daily Spenddown Report sent to emails of Executive Directors.
- Payroll Management: Daily payroll PRDs to budget reports.
- Executive Directors incentivized with EBITDAR quarterly bonus.
Operations
- Occupany increase from 82% to 96% ($6M Increase)
- EBITDAR magin increase from 22% to 33% ($18M Increase)
- Revenue per Occupied Unit $32k to $42k ($14M Increase)
- Capex spent $10.5M ($10.5M Decrease)
- Other ($19M Increase)
Economic Conditions
- Inflation over the period 3% (19% 5yrs) ($10M Increase)
- Cap rate compression from 8.35% to 7.00% ($7M Increase)
Renovation
- Identify expansion opportunities.
- Identify Change of Use Opportunities.
- Remodel common spaces and units.
- FF&E Refresh.
Stellar added to their portfolio through the management agreement of three properties that were previously managed by Brookdale Senior Living. Focusing on the most distressed property in Salt Lake, Stellar increased the occupancy from 46% to 68.5% the first 6 months of management. This involved moving in 38 residents and netting 31 residents.
First 6 Months of Management
Occupancy – From 46% to 68.5%
- DEI sales training program.
- Hired all new sales staff (aka “Family Advisors”).
- Two Family Advisors at the location.
- Occupancy Meeting: Weekly accounting with Stellar Home Office.
Revenue – From $198K/Mo to $336K/Mo
- Profit Sharing Sales bonus strategy that promotes revenue increase.
- Increase of RevPOR from $3800 to $4600.