National Investment Center (NIC) Fall Conference Re-Cap
October 10, 2017
Valbridge Property Advisors recently attended the 2017 NIC Fall Conference in Chicago, Illinois. In attendance for Valbridge was Rob Klein, National Director Health Care, Gerald A. Teel, Senior Marketing Director- Houston, and Karl P. Finkelstein, Vice President of Marketing and Business Development.
The conference consisted of two educational sessions, special programming, and three days of networking time and thought-provoking conversations. The conference kicked off with a pre-event boot camp for around 100 industry newcomers. The boot camp walked participants through a case study of whether or not to invest in, or develop a particular property.
Keynote speakers for a session titled, “The Impact of the Trump Administration’s Policies on Economic Growth: A Debate,” included U.S. House Speaker Newt Gingrich and former Treasury Secretary Lawrence Summers. They spoke on the future of healthcare and the fact that 30-40% of retirees have enough assets for care, 25% are right at the margin, and the other 35-40% will have to rely solely on the government. They also discussed their opposing opinions on the current political environment, Gingrich stating that he is optimistic that tax reform will be passed, while Summers does not foresee major reforms.
Educational sessions were held examining trends shaping the senior housing and skilled nursing industry, whether to re-develop a property, and how to scale up operations. Topics included an analysis on properties that lease-up quickly versus properties that do not, assessing infrastructure and utilizing market data to grow wisely, and how to cultivate and maintain a high quality of workforce in today’s changing environment.
NIC Talks, the popular and provoking speaker series, returned to the conference for a third consecutive year. Highlights from this session included “Tell Me Something I Don’t Know About Aging,” touching on issues such as the longevity bonus, ageism, and environments that promote a long and happy life. This session was led by Kim Campbell, wife of singer Glen Campbell who recently died of Alzheimer’s disease. She shared moving insights on the difficult role of the caregiver.
“Making the Case for Investments in Operations” was a session focused on the way investors and operators can come together and make a difference in property performance and employee/customer satisfaction. Michael Schonbrun, Balfour Senior Living, noted, “The industry needs to do a better job of training.”
During the session titled, “Innovations in Seniors Housing Around the Globe,” a conversation was led on the unique developments in senior housing. Other sessions that were focused on senior living trends, the future of aging, and the latest findings on Alzheimer’s disease included “Deep Dive,” “The Upsides of Aging,” and “The Future Demand for Alzheimer’s Care: What Current Research Reveals.” Speakers included Dan Hutson, Dan Buettner, Paul Irving, Jack Callison, Phil Anderson, Ashton Applewhite, Heidi Brunet, Randy Bufford, and more.
Wrapping up the conference were four thought leaders who presented innovative approaches to technology and how smart buildings and artificial intelligence will drastically change the aging process in the future. NIC’s founder, former president and CEO of 27 years, and current strategic advisor, Bob Kramer, closed the conference with a challenge to the industry, “Remember in our field, we will be the disruptors or we will be disrupted.”