Smart-risk lending solutions for retirement housing owners and developers
An aging population and longer life expectancies are boosting demand for various forms of retirement housing and First National is in the business of financing this vital form of shelter.
As empowered advisors, we provide smart-risk solutions, both insured and conventional, to property owners and developers across the country.
Retirement housing assets we finance:
In general, retirement housing refers to assets that provide accommodation and care services to people aged 65 and up. The level of care services and assistance with acts of daily living (ADLs) increases with the care required by residents.
Throughout our history of lending across Canada, we have amassed significant experience in lending to these asset types:
- Independent Living – apartment style with kitchens; may be part of a community that offers services for a fee such as dining, social/fitness activities, housekeeping/laundry services and personal care
- Independent Service Living - meals are provided along with housekeeping/laundry services, activities, and some lighter level of personal care such as medication administration and bathing assistance, with a 24-hour emergency response system
- Assisted Living – involves similar services to Independent Service Living but also focuses on the provision of care services to aid with ADLs, as required, and typically provides 24-hour nursing care
- Long-Term Care – typically a provincially funded service, providing an environment with 24-hour nursing care