FAQs

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Our Guiding Principles

  • We acquire and operate middle-market senior living communities across Texas, Florida, and the Coastal Southeast. Under an owner-operator model, Lloyd Jones acquires the properties and provides strategic oversight, while our operating company Aviva Senior Living leads talent retention and day-to-day operations.

  • Where most sponsors underwrite to rent growth and optimistic exit cap rates, we underwrite to what we can control. We also involve our operations team at Aviva in the underwriting process from day one. The operator isn't handed a finished model and told "good luck." They help build the business plan because they're the ones who have to execute it.

  • No. Ground-up senior living development runs $250,000 to $400,000 per unit depending on acuity level and market. Development requires 100% staffing from day one while occupancy starts at zero, and lease-up for AL/MC typically takes 18 to 24 months. The lease-up risk is devastating. We buy existing assets at a fraction of replacement cost without absorbing the development risk

  • Aviva is our proprietary management platform. It shares common ownership with Lloyd Jones while maintaining its status as a separate operating company. Aviva handles all day-to-day operations: staffing, care delivery, marketing, vendor management, compliance. The distinction matters because Aviva has its own leadership team, culture, and operational playbook focused entirely on running communities. Lloyd Jones focuses on acquisitions, asset management, and capital markets. We are "joined at the hip" but operate as two specialized organizations

  • We consider acquisitions which contain assisted living and memory care, 80 to 200 units, are
    located in secondary U.S. markets and are 2000-plus vintage. Our ideal property is a continuum-
    of-care community (IL/AL/MC) at 100-plus units. We look for communities where the current
    operator is underperforming and where Aviva can improve operations, staffing, and resident
    experience.

After We Acquire

  • We focus on two objectives: rebrand the community and refine the operations. To rebrand the property, we launch a comprehensive boots-on-the-ground marketing blitz. Every hospital, rehab center, medical office, church, and local business in the trade area learns that Aviva has taken over and things are changing. Simultaneously, we initiate an operational restructuring internally.  We introduce right-size staffing, implement levels of care pricing, renegotiate vendor contracts, deploy electronic health records for granular care tracking, and incentivize on-site leadership with real upside participation.

  • During due diligence and before closing, we already know who we're keeping on the leadership team. If replacements are needed, we've typically lined them up before day one. Lloyd Jones leadership personally interviews EDs, sales directors, and nursing directors. The transition plan is not ad hoc; it follows a documented Aviva playbook.

  • Many older operators use an all-inclusive pricing model where every resident pays the same regardless of how much care they need. We implement levels of care where residents pay based on the actual services they require. This captures more revenue from higher-acuity residents while keeping costs fair for those who need less help. It's one of the most immediate NOI levers in any acquisition.

Our Track Record

  • We have been actively acquiring and operating senior living since the early 2020s. Chris, our Founder/Executive Chairman, tracked the sector for 25 years and spent significant personal capital testing the thesis across 10 states, every variety of vintage, condition, and price point, before bringing in outside investors. Our current portfolio consists of 13 assets and ~1200 units across 10 states.

  • Not yet. Our hold period reflects our value-add strategy: acquire, stabilize through Aviva operations, and hold through the current supply-demand window. Baldwin Park is our most advanced deal: 65% NOI increase in 12 months, refinanced with 80% of investor equity returned. Woodlands is at 98% occupancy and pursuing HUD permanent financing. We expect first full-cycle exits within 12-15 months.

  • No. We have a legacy of forty years of capital stewardship across multiple cycles, including the 2008 financial crisis, COVID, the labor cost surge, and the interest rate spike. In senior living, our CEO tested the thesis with his own capital first, allowing us to find where we excel in the market: secondary, middle market communities in Texas, Florida, and the Coastal Southeast.

  • Yes. A handful of testimonials are currently available on our website from our multifamily days. We have existing family office investors who have done well with us in senior living specifically as well. Please reach out to our investor relations team at ir@lloydjonesllc.com for further details.

Partnering With Us

  • We currently offer two main pathways. Single-asset syndications: invest alongside other LPs in a specific deal ($500k minimum commitment), and JV equity: joint venture where you provide 80-95% of the equity with governance rights ($5M+ commitment).Our minimum commitment of $500k opens the market, which was previously reserved for institutional investors, to all accredited investors.

  • Our target returns are dependent on the type of deal at hand. Generally, we target light value add deals where we look for an IRR of 18%+ and a yield of 8%+. For distressed turn around deals, we look for an IRR of 22%+ and a yield of 6%+.

  • Our Founder/Executive Chairman Chris Finlay has personal capital invested in approximately half the current portfolio. The specific co-investment percentage could vary going forward, though. Please reach out to ir@lloydjonesllc.com to discuss the co-investment structure for future deals.

Taxation and Reporting Standards

  • From a tax perspective, each property's financials are reviewed by third-party CPAs annually. On exit, the track record (returns, equity multiples) is audited and verified by independent parties. We also have two CPAs in-house (Stacey Hess and Dennis Leach) who review financials continuously.

  • You will receive a Schedule K-1 for each investment entity you participate in. For further details on delivery timelines as well as general reporting and distribution queries, please reach out to our investor relations team at ir@lloydjonesllc.com.

  • Real estate investments generally offer depreciation deductions that can offset taxable income. Senior living properties, with their significant building component and personal property (furniture, fixtures, medical equipment), can generate meaningful depreciation.

Managing the Risks

  • Three primary risks. First, affordability: rates have increased to cover labor and interest costs, and there's no government subsidy for AL/MC like there is for skilled nursing. Second, labor shortage: we compete with every hourly employer, not just healthcare. Third, asset reputation: a poorly run community can develop a reputation that takes years to reverse. We mitigate all three through operational discipline, talent investment, and rigorous pre-acquisition due diligence.

  • CMS is requiring ownership disclosure for 5-plus percent owners in nursing homes. There's discussion about extending this to assisted living. We monitor regulatory developments closely. Our deal structures are designed to maintain compliance as regulations evolve.

  • Property insurance, professional liability, and workers' comp are all trending up across the industry. We mitigate through buying power at scale as the portfolio grows, safety protocols, and careful underwriting of insurance costs at acquisition. This is a GL-level line item we track monthly, not something we hope takes care of itself.

  • It has happened. At Woodlands, Nebraska, the prior operator (LCS) stripped the property of talent during the transition, loading it with agency staff at over $100K per year. It took a year longer than planned. Lloyd Jones personally rebuilt the entire leadership team. Today it's at 98% occupancy with the highest rents in the market. We don't pretend everything goes perfectly. We show you how we respond when it doesn't.

  • A mass departure of key staff. If the ED and nursing director leave simultaneously, it can trigger a cascade: care quality drops, families pull residents, occupancy falls, revenue collapses. We mitigate this by incentivizing key leaders with real economic upside, maintaining a talent pipeline through our dedicated recruiting team, and fostering corporate resources (Tina Crissman, national nursing leader) who can step in during transitions.