HealthLease Properties Real Estate Investment Trust brought a new approach to real estate when they adopted the triple net leasing model used in the quick service restaurant business to seniors housing. The benefit was increased margins and no operator risk. The challenge, however, was that the market was accustomed to investing in senior housing where the property owner also operated the seniors care business. They were not convinced that HealthLease had a better way.
How NATIONAL helped
NATIONAL began to work with the principals of HealthLease while they were still a private company by introducing them to bankers that could assist with an initial public offering. We worked with the IPO team to help define the key messages used in the prospectus and investor presentation and prepared the design and content for the marketing materials. As consultants to HealthLease, once they were public, we helped them achieve sell-side analyst coverage, communicate their growing acquisitions, and conduct site tours of their properties for analysts and investors. About two years after going public, HealthLease was able to achieve analyst coverage from major Canadian banks and investment dealers and delivered a consistently high yield to its investors. After a large American REIT acquired HealthLease, the principals returned to the TSX with a similar portfolio of medical office buildings and seniors housing properties and re-engaged NATIONAL to assist with its investor relations program.