Senior Housing Investors

Senior living past, present, and future...an insider's perspective

August 26, 2021 Haven Senior Investments / John Gonzales Season 1 Episode 11
Senior Housing Investors
Senior living past, present, and future...an insider's perspective
Show Notes Transcript

John Gonzales, a 30+ year veteran in the industry, speaks about his story, from an unexpected start, to a 35 year journey in the senior living industry. John shares his experiences, observations, and candid opinions about our industry's growth, transformation, and future.

John Hauber:

Welcome to the senior housing investor podcast. If you are an investor or want to be an investor in senior housing, then you're in the right place. Hi, I'm John Hauber of Haven Senior Investments. We are pleased to present our newest episode where we bring you the innovators and leaders across the full spectrum of assisted living in senior housing, all of whom provide for the betterment of our senior population. The host of our show, Pamela Pyms has background in the industry and she will be interviewing our honored guests. Hi, Pam.

Pam Pyms:

Hi, John. Thanks very much. It's great to be here. Today, I have the pleasure of being with John Gonzales, the Senior Vice President Consulting and Managed Services for Haven Senior Investments, who is our illustrious sponsor for this podcast. John is also the President of Haven Senior Living and a little later in the podcast, we will talk about all the different components of Haven Senior Living and the different companies that they now have. But in the meantime, John, how are you?

John Gonzales:

I'm doing fine. Pam, thank you.

Pam Pyms:

Good. I'd love it if you would tell me about yourself and your background and and how you got started in the senior living industry?

John Gonzales:

Sure, absolutely. So I majored in music in college. So of course, I got a job in business, being the starving musician for a number of years. But I actually got into this business because I was fired waiting tables in a restaurant in San Antonio, Texas, and I needed a new job and

Pam Pyms:

Love the honesty. Sorry, go on.

John Gonzales:

No, that's, and yeah, looked for new jobs and saw an ad in the paper for a waiter. And I said, Oh, that's for me. And it happened to be in a retirement community. And I didn't know the difference between a retirement community or a nursing home. And so I started working there. But you know, what's, for me most important is why I stayed in the business for 35 years. And you know, when I was much younger, I watched my grandmother pass away from Alzheimer's disease, and very painful, as many people experience. But at that time, there was really only one option for our family and that was a state run skilled care facility. And 35-36-37 years ago, they weren't very nice. Not all of them anyway, and the one we had put grandma was full of sights and sounds and smells that I felt very uncomfortable.

Pam Pyms:

You and everyone, they were so depressing. Yeah.

John Gonzales:

Yeah. And I'm still to this day, ashamed to say I didn't want to go see grandma, particularly in her last days, and avoided it at all costs. And what's interesting to me is by happenstance, I started working in the industry. But what kept me in the industry was the realization that I could do something to impact that kind of environment, we could create new environments, and new ways of caring for our seniors that upheld their dignity and respected their their privacy, none of which existed at the time. I saw my grandmother decline so that really lit a fire under me and became my why I stayed in the industry. And 35 years later, I'm sitting here, talking to Pam, and really feeling good about the impact that we've all been able to have on this industry.

Pam Pyms:

Well, that's a that's a wonderful story in terms of how you got in it. And my gosh, I bet you've seen a number of changes occur over the last three decades. Yeah, tell me about those.

John Gonzales:

Pam, when I got started, cc on an email, literally carbon copy. And I remember the paper that we actually had to use the carbon copies, I mean, that there have been just dramatic changes in the industry from the technology side of things. But retirement communities really did start off as kind of this upscale Country Club like setting. And I was fortunate enough to grow up with the industry. So I saw us as an industry start to respond to the needs and the desires of our clients of our residents. And as those individuals started to require more assistance, bathing, dressing, grooming, meals, the industry started to respond to it. And we started to provide those types of services, all the way up to fast forward to today where most of our environments can provide nursing services, right up to the point where someone needs skilled care. So the acuity levels and the these buildings in our buildings, has really dramatically shifted from the conception to what the reality is today. What's also interesting to me as about 15 years ago, maybe a little bit longer than that, as an industry, we decided we wanted to really put for that country club image. And the nursing services and the care services were really kind of pushed to the back in terms of what we wanted the public to perceive about us, we wanted to really put out that, hey, come on in golf, keep your job drive your Corvette and live with us. The reality is that the people weren't moving in for those reasons. People were moving in, because they needed help, they had either a traumatic event in their life, loss of a spouse or healthcare issue. And even though that was the reality, the marketing perception was pushed out there that we're Country Club. Now, what's interesting to me, is that since the pandemic, the clinical portion of what we do as an industry is really front and center. And it really came to light in communities that we're not ashamed of putting out the fact that we care for people that clinical services and Clinical Excellence is our top priority, that resident health and safety is our top priority. Those communities that were already doing that were already way ahead of the game, others had to pivot very quickly in terms of their their messaging. And they had to put that out there. And I worked with a number of owners and operators. And we worked on pivoting messaging, some didn't realize how good that messaging could be, and how impactful particularly during the pandemic. So it was just a dramatic change for me. And now of course, we have the rise of technology. A decade ago or so there was a rush to create software systems that took a prospect from the marketing stage or the inquiry stage through resident move in. And then we add it on nursing components, service delivery, and software, right through to production of assessments and billing at the end of the month. And there was a lot of dust thrown up a lot of new participants entering the market trying to fill that void. And the industry was very slow in embracing technology. We favored high touch over high tech. And we were just slow to the game. It's changed now. It's like the wild wild west all over again. And we've got innovation and people running to the market with new tools, software, hardware, algorithms, and all designed to assist the operator in helping the resident have the best quality of life possible. So whether it's fall prevention software, air filtration systems, innovative programming, there's just this incredible rise of technology right now and stopping short of the robo caregiver. But How far away are we from that? Probably very, very close.

Pam Pyms:

Yeah. Wow. Well, it's It is amazing the progress, if you will to, from the days where you didn't want to go see grandma, and understandably, why. And I think it's sad that some of those facilities are still in existence, but fewer and farther between. Thanks to everything that is happening. What would you say would be some of the biggest challenges then for owners and operators of senior living today? And how can they address those challenges, too?

John Gonzales:

So one of the obviously, the biggest challenges that's affecting the industry today, and it affects almost every other industry is a labor shortage. We've got a tremendous challenge in front of us. I participated in a survey just about a month ago, and 58% of the respondents and these are industry executives described the current challenge in terms of labor as brutal and very difficult. And that's echoed by almost everyone that we talked to everyone that we consult with that is always at the forefront of everyone's concern. It's obvious that the pandemic and the restrictions that came a ong with that were huge obsta les for operators having to fi ure out how do we deliver servi es. In the midst of this kind f a lockdown. In retrospect, it's really caused the indust y to become innovative, and to r ally put that safety and the h alth of the resident at the fore ront of everything we do. But you know, a lot of operator and owners are doing things like increasing wages, and ther's a lot of pressure on wages but not only because of the mi imum wage is going up in these i our major metro areas, bu the ripple effect throughou the entire country is being elt. And of course as the mi imum wage rises and you take your frontline employees, tho e at that level up to thos new wages, it creates a wage compression situation wher individuals that are now makin the same as minimum wage ar looking for more than that. S there's a trickle effect that' occurring. And it's creating lot of additional expense obviously. Operators are als incurring additional expense because of the the importance o the clinical piece in ou buildings and the restriction that they have. And so it's bee very difficult in th combination of the two ha really impacted the industry t the extent that I think it' causing us to rethink ou financial models. And it reall takes a really hard look at ou expected returns. Thes operating expense challenges ar not going to go away, and the may very well increase. And, yo know, I pray every day, there' not a resurgence of the virus because going back into lockdown situation would be jus such a negative impact on on ou buildings. So I really do think though, that in terms of th labor, which is front an center, in terms of gettin hiring, you know, recruiting hiring and keeping retainin good employees, that it's got t be more than the dollar. Yo can't just throw money at th problem

Pam Pyms:

Well, and speaking of the dollar, you said something about minimum wage. Are typical wages, for the caregivers that of the minimum wage?

John Gonzales:

You know, a lot of in a lot of markets, it's very close to that. And that there are a number of companies that have created models that allow for operators to present wages more in line with what these folks really do. For a long time an employee could come to work for you, service your residents doing very hard real human jobs, whether it's changing diapers or feeding the residents or managing their care dressing and bathing them. And they could make the same amount going to McDonald's and getting a job. There is a there's a disparity in the type of work and I'm not belittling McDonald's, I love McDonald's. But you know, we're not we're not and haven't been historically, compensating these frontline workers, who are the heart of this industry.

Pam Pyms:

Right here here. I mean, what why wouldn't they go to work at McDonald's for the same amount of money?

John Gonzales:

Exactly, exactly. So that's been changing. And now we're seeing by requirment, the industry starting to gravitate towards those higher wages. In addition to that those frontline caregivers, most now, operators are looking for CNAs or CMAs, LPNs, even our RNs and in our communities, so those wages are obviously going to be higher. But when you talk about the frontline caregivers, I think we're starting to do a much better job of that. But again, just throwing money at the problem is not going to solve it. Just bumping up your starting wage an hour or dollar or dollar 50 isn't going to do it, you've really got to create an environment that anchors your employees to it and attracts others. And that's only done, in my opinion, by creating genuine relationships between the staff, and with each other with the residents, the family members. And those genuine relationships are one anchor employees to a community then, you know, it's interesting, this generation, now the newest up and coming, they're looking for purpose in their life, you see a rise in participation in various organizations, whether it's political activism or cultural. And there's a lot of youth that are running towards that. And we have to do as an industry a better job of showing them the purpose that they can fulfill, by working with seniors by preserving the knowledge that these folks have by understanding their stories and the history. And by providing them with dignity and respect. And these are all things that as an industry, I think once you're in it, you understand the profound impact that even a frontline caregiver has on a resident and the residents family. And we just need to do better at attracting and communicating that to potential employers and particularly to the younger generation.

Pam Pyms:

Yeah, it's nice to hear the younger generation has a heart to want to do something more meaningful and purposeful than maybe some of our past generations. were chasing the almighty dollar. You know, and I think when you talk about the relationship between the caregiver and the resident, and the families, I think sometimes that caregiver almost becomes the family for the resident. I mean, that's the closeness. I think that that is established. And, you know, I think if you do it right, then it's it can be a very wonderful sort of partnership with everyone.

John Gonzales:

Absolutely. Yeah. You know, the community staff really is an extension of the residents family and should be, you know, it's fine to kind of create that environment where it's very professional. And it's, you know, this is, you know, we don't cross lines. And I'm not advocating for that. But you know, there are buildings, there are communities and companies out there that create this warm environment, where you can sense the genuineness of the relationships that people have the culture of the building is tangible. I've walked into 1000s of communities - independent, assisted and memory care. And there is a really dramatic difference in the feeling you get when you walk in the warmth, or the coldness. The you know, the reception you receive the the weight folks are interacting with each other. Residents with other residents and staff. And so that kind of family culture is something that I think is critical in this in this industry. I know that when I get to a point of needing something, or at this point, my parents are reaching that point, I want to make sure that where I put Mom, where we put mom is somewhere that's warm and friendly, and that she does have genuine relationships with the people that not only live there, but work there.

Pam Pyms:

No doubt about it. You've touched on this briefly, but do you think that the pandemic has greatly affected the industry?

John Gonzales:

Yes, I think it's been profound. Sea changes typically happen over in various industries over a span of years five, or 10, going from a cassette, to a CD to streaming, these are just big sea changes to industries. We've had a sea change in our industry that was compressed in the span of 12 months. So we had to pivot on a number of fronts. Most importantly, on the the health and safety of the residents and how we manage through that, but also in terms of marketing and sales. So you know, the importance of online presence and, and websites and sewing together a cohesive message via your online presence, positive online reviews, even virtual touring. We were working with an ownership group that they were doing virtual touring, because people were coming into the building. And so they were just using their cell phones. And it was kind of like being on The Blair Witch Project, because it was so shaky and moving all around, and it was you know, I was getting nauseous just following the the marketing director, Oh, so you know, little things you lose by a stabilizer, you know, let's invest in small little things that will allow us to pivot more, effectively communicate our message, even in the middle of a pandemic, reach people we need to reach and and let them know this is a safe place.

Pam Pyms:

So well, especially I was gonna say, especially in a place where health is paramount to begin with.

John Gonzales:

Correct, correct. Absolutely. You know, what's interesting about what you just said, Pam, about the health being paramount. One of the the interesting effects of the pandemic has been what I call PPSD post pandemic stress disorder. And since the, you know, basically the waning of the pandemic, I've talked to a lot of operators who are seeing really good staff members just kind of reached that burnout phase. We just lost one of our clients just lost a terrific executive director, she had just burnt out. And a lot of these folks had lived through the pandemic, most of them have all of them have, and had really served the residents gone above and beyond many of them pulling double shifts, because folks were sick. And they just lived through this trial. And they've come out on the other side. I can't tell you how many EDs executive directors I've spoken to have said, I feel like I'm a counselor, I'm talking to folks about their stress and anxiety, great staff members that have kind of they were there's my right hand person, and they're burnt out now. And you know, like I said, I pray every day, we don't have a resurgence, because this is going to emerge f it continues as a real roblem that's only going to xacerbate the problems that we lready have with labor.

Pam Pyms:

You're exactly right. And unfortunately, it isn't limited really to just seeing your housing. I'm reading articles all the time about people not returning to work or reassessing what they're doing with their time in their lives. I think we're going to see a big shift in the workplace period. But above all, you know, we really need to get it right. You know, in our senior communities, I mean, this is where it's just so very important. I mean, do you think that the industry will return to to normal and if it does, would you describe normal and and what might the new normal look like? I know these are hard questions. But, john.

John Gonzales:

Absolutely no, I, you know, they're they're, they're very profound questions. And the answers are important enough for us all to have a candid and open discussion about during the pandemic, there was a lot of, you know, as an industry, we tend to be very protective of our ability to innovate and the freedom that we have, because of limited amount of regulations as opposed to skill care environments. But that kind of protection that we build around us, it can also be detrimental to us. And during the pandemic, there was a lack of information being shared between different organizations, between communities. And I think everyone was afraid to basically say, I were being affected like this, oh, my gosh, we can't get staffed because I had two members go out sick or Yes, move ins have slowed down or occupancy has dropped. And the reality is now we know looking back that occupancy across the spectrum and senior housing is down somewhere between 10 and 12%.

Pam Pyms:

That much, wow.

John Gonzales:

Yeah. So as a result of the slowdown in move ins. It's it's just, you now, to be very transparent ith each other was was ifficult during that period of ime. Anyone that's tried to do competition study and has gone nto different communities to ry and get information on ccupancy. And, and, you know, ow is your acuity level? How is t with staffing, you typically ump into that that protective arrier, but the pandemic is orced us to kind of push that hrough. And I'm glad that we're eeing the other side of it now, here communities are sharing ore with each other best ractices about how to deal with his. And the reality that our ccupancy did take a hit the new ormal, because the old normal as gone on. And I think it's kin to saying, well, we're oing to stop streaming music nd go back to CD tapes. The new ormal is gone, and what the new ormal will look like, in my pinion, is a reassessment of he financial returns on on this ype of property.

Pam Pyms:

Not to cut you off, excuse me for interrupting you. Save your thought on that. But can you speak for just a little bit on when you talk about the financial returns. What they classically have been in this space to what you see, they should be going to?

John Gonzales:

Sure, sure. So you know, what's interesting is the operating margins for various types of product and senior living vary, so you have much higher operating margins and dependent living communities, typically 50% or above. Your operating margins for assisted living, you know, really sharp assisted living is going to be in the, in the high 30s to 40%. Those are, you know, running optimally, but they range from 35, you know, maybe 40%, some lower.

Pam Pyms:

An amazing margin.

John Gonzales:

But, yeah, and then, you know, in terms of memory care, the margin goes down, but the the revenue goes up, so you're getting a smaller piece of a bigger pie, because those charges tend to be significantly higher than assisted living and independent. So you know, it kind of, there's a spectrum and they kind of go up along with the down along with the acuity level, higher the acuity, the lower the margin. But you know, what's happening right now, I think, as an industry is we're trying to get get our footing right now, we kind of come through the pandemic, and we're trying to find out what that new normal looks and sounds like it's difficult to articulate, because we're still trying to figure it out. But one thing I do see happening is arise of technology to assist the industry, with the shortage in labor, to assist the industry and how to create, you know, different environments or cleaner environments using UV lighting or air filtration systems. And then some of the really unique and innovative things that are out there. Our company Haven Healthcare Technologies, knows all of the systems the latest and greatest and they're just terrific at pointing to best practices and best products. And like I said earlier, this is kind of the Wild Wild West, there's a lot of new stuff coming online. So I think the advent of expansion of technology in our communities is a foregone conclusion. And there are a lot of them that have already a lot of operators and owners that have already embraced that and are moving towards it. And that's going to change the look at the building a little bit. But one thing that won't change is still the need to create those genuine relationships that that high tech doesn't dilute the high touch. It just needs to be are implemented in tandem with the two and you have to find that balance that equity between the two.

Pam Pyms:

It'll be interesting to see how that unfolds. And I want to thank you for sharing, you know, some of the the margin numbers only, because when you look at all the asset classes of real estate, you know, retail, office, industrial, whatever, and, and senior housing, oh, in the past several years has been given the same sort of clout as an asset class, whereas before it wasn't even mentioned. But when you look at it, and you look at the returns on it, it's really so much higher than the other ones. So I think you're right, there is room here to adjust. And I think investors in particular should say, you know, let's look at what this this asset class really provides and returns, can we keep them through the technology without losing the cost of the touch, or, or, you know, just the meaning and purpose behind why you're in this business, you can't just cut staff or whatever, like you can, in some, some of the other arenas. But I love I love what you're saying, and the positive outlook you have on it. You had mentioned earlier just about the culture of a building, and I, I hear you loud and clear, it reminds me a little bit of, I don't know, maybe when you were in college, I don't know if you ever went through rush, and you'd go into these different sorority or fraternity houses. And each one had such a different feel. And I, when I was in the business of senior living, too, I would feel that walking into a community, just the culture. Anyway, can you expound on that a little bit?

John Gonzales:

Sure. Sure. You know, I was talking to a number of years ago to another Senior Living executive, for a very large, publicly traded company. And I was we were just talking about culture and difference between the company I was with and who he was with. And I said, So tell me about your culture. And he starts talking about, basically the brochure talking points. And I said, What does it really look like? How do you measure it? And he started to kind of give me this description of this fog that kind of falls over a building, and it's gashes and it's moving. And I'm trying to figure out, specifically, how do you measure your culture today? And what what evidence do you have, and you can point towards things like your return and that kind of thing. But culture is tangible culture is something that you hear in the hallways, whether it's a conversation between staff or a conversation between a staff member and a resident. It's a conversation that you may overhear when you walk into a building with the receptionist on the phone, Is she on a personal call, as there's someone in the office that's talking about the time clock, and there was a miss punch, and oh, my gosh, going to be a problem. It's whether or not the staff recognized residents by name and understand their story that they've really connected with this resident, and their output of culture, or you can measure in terms of family and resident satisfaction scores. I'm just an adamant proponent, that it will result in bottom lines in healthy returns, if you can create this culture. And what's surprising to me is surprising is that so many companies don't prioritize that. One example that Haven brings to the table for many of our clients is we're able to provide them and their staff with training on emotional intelligence. And it's an interesting part of culture, being able to give your staff the ability to understand why someone's coming at you and what that emotion is, why they're feeling that emotion, and more importantly, how you respond to it. I did a we conducted some training with some nurses for our industry, but 90 people in the room, and I'm not a nurse, I'm not a clinical person. So I'm a little intimidated to begin with. And I'm doing training on emotional intelligence. I asked this room of about 90 folks, how many of you ever had that training on emotional intelligence, and about four people raise their hand and I thought, isn't that interesting? Then here we are, as an industry, dealing with emotion every day, you've got residents that are despondent and depressed and residents that are grieving. You've got family members that are upset and maybe yelling at you because something went wrong with mom, whether it's because of anything you did or not. And I asked him how many of you ever experienced emotion on a daily basis and there wasn't a single hand that didn't go up. So that kind of skill, that kind of gift that I believe we can give to our employees in this industries is just immeasurably valuable. And it's also training in terms of culture and it's something that if you do it right, you're giving the employees not only the skill set to use in their work life, but these are tools that they can use in their personal life as well. So I'm a huge proponent of, of that kind of training.

Pam Pyms:

I could not agree with you more. Great. All right. So now we're at the point where I want to ask you what makes Haven Senior Investments unique? What services do you provide, that other consulting or manag ment companies d

John Gonzales:

You know, we've really become a one stop, very comprehensive company in terms of servicing clients, we've responded to the needs that we hear from the clients. We started off as a real estate transaction company primarily. And we've kind of grown we've got different arms. Now, you've mentioned earlier Haven Senior Living and Haven Senior Living is an output of Haven Senior Investments, I can't gotta get that, right. There's a lot of Haven stuff

Pam Pyms:

There's a lot of Haven right.

John Gonzales:

Yeah, there's Haven Healthcare Technologies, we've got Haven Senior Living, Haven Senior Investments. So we've got a lot of different arms that have been put into place in order to address the needs and the desires of the clients that we're serving. Haven Senior Living primarily, is involved in providing consulting services, asset management, and even third party managed services for owners and operators. We have a different approach in in that regard, in that we advocate for the owner, and I was in third party management companies for literally for decades. And I saw the inside of what that looks like. And the owners that we serve, are typically smaller, not, you know, huge players, and aligning with a larger third party manager, I'm sorry, but the honest truth is that you're not going to get the services, you're not the biggest dog in the room, so you're not going to get the most attention. And I really had a distaste for that for years. And when I left that corporate environment, I wanted to be a part of an organization that advocated for the owner that looked at the owner as the client, not just the operator, or the residents, and the staff, all of whom are the people we serve. But the owner always seem to get the short shrift. And so one of the things that we do is we advocate on behalf of the owner, whether there's a third party operator in place or not. We can come in and provide those consulting services. But your question specifically, what makes Haven different, this is my favorite thing to tell people. You know, we're a faith based company, and we don't hide that it's front and center about what we do. We don't discriminate anyone in any way, shape, or form, all faiths are welcome either to be part of the company or to be a client of the company. But we are faith based. And to me, what that means is that when you we do business for someone, were literally serving God by serving them. We were not going to give anyone short shrift, we're not going to be anything less than honest, in the highest degree of integrity, highest degree of ethics, I have never been part of an organization that lives that out to the degree that Haven does. We, we just love it. We're excited to serve people, we always are looking out for the best interest of our clients. And it's not just because we're great people, it's because we know that we serve a God that tells us to do this. And so when we're serving our clients, we're really doing it with that greater purpose in mind, and it's why I'm part of the organization. It's why I'm talking with you right now.

Pam Pyms:

Well, that certainly explains it. And that's, that's a lovely thing. I know you have all the different sectors and that you come at each of them with the same sort of love and caring, and faith. So that's lovely. We're just about out of time and I'm just curious if there's anything I haven't asked you that you'd like me to ask you or anything else you'd like to mention before we sign off.

John Gonzales:

You know, our industry is really going through some changes now and what I can what I think what I would like everyone to understand is that this is we are not going to c me out on a new normal in a new normal. This is such a phe omenal industry. This is suc a phenomenal product, and peo le that are involved in doi g it they are heroes, the're out there on the front lin s providing these services. And you know, we're in the bus ness of serving them and ser ing those that that serve the. And it's just such a pro ound difference between whe e we started, you know, whe e I started with watching my gra dma and that environment, to whe e we are today where the emp asis is on quality of life and the realization that your lif doesn't end because you tur 80, or even 90 or older, tha you still can learn, you sti l can grow, you still can be a p rt of the culture and soc ety, you have a lot to give. And I love that our industry has emb aced that realization. And the e environments are just so dra atically different than they use to be, and just thrilled to be part of it. And everyone sho ld be.

Pam Pyms:

I'll say amen to that. And I will, thank you so much for your time today. It's been such a pleasure learning about what Haven does, and what you do. Your thoughts about the industry are, are very insightful. And if people want to find you all to to have you help them, what's the best way, John, for them to do that? Sure, sure. So our website, HavenSeniorInvestments.com. And from that website, you'll find access to all of the other components of Haven that I mentioned, and everything we talked about. We have folks that are experienced, we bring a great amount of expertise, and we can assist anybody with those types of issues. Well, that I know you can. I've heard wonderful, wonderful things about your company. So anyway, thanks for giving me your time today.

John Gonzales:

Thank you Pam. Appreciate it.

Pam Pyms:

Alright, talk later. Bye bye. Thanks for joining us today. This podcast is brought to you by Haven Senior Investments. Haven Senior Investments is the leading faith based senior housing advisory firm focused on providing their clients with the knowledge and expertise necessary to support their goals of buying, selling, developing, investing, or operating in the senior housing market. They can be found at havenseniorinvestments.com