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Tanner Spring, Portland, OR
Location: West Linn, Oregon
Size: 80 Unit Assisted Living / 21 Unit Memory Care
Status: Owned/Operated
Size: 80 Unit Assisted Living / 21 Unit Memory Care
Status: Owned/Operated
Tanner Spring is a 90-bed Assisted Living facility located in
West Linn, Oregon, 10 miles south of Portland. The
property was acquired in 2008.
At the time of acquisition, the property had approximately
50% occupancy and an annual gross revenue of $2 million
dollars. Tanner Spring was losing money and had an 80%
Medicaid population. The resident satisfaction surveys at
the time of acquisition were ranked “low to very low”,
reflecting dissatisfaction with the existing management of
the facility.
Immediately after acquisition, a series of management
changes resulted in improved resident and family
satisfaction. Significant efforts were made to improve the
transportation, physical plant, food services, resident care
and activities. Additionally, the physical plant was
upgraded to include a 21-unit Memory Care Unit. The
architectural plans and construction were promptly
permitted, licensed and approved. The remodel project
was done professionally, on time and on budget. The
resulting Memory Care Unit was quickly filled. The
configuration of the facility now includes 80 Assisted Living
units and 21 Memory Care beds, a net increase of 11 new
revenue beds. The occupancy percentage increased
steadily and with a focused effort on improving the payer
mix, the annual gross revenue has doubled and the facility
is now highly profitable. Resident and family surveys are
now consistently “very satisfied” and there is a waiting list
when vacancies occur.
West Linn, Oregon, 10 miles south of Portland. The
property was acquired in 2008.
At the time of acquisition, the property had approximately
50% occupancy and an annual gross revenue of $2 million
dollars. Tanner Spring was losing money and had an 80%
Medicaid population. The resident satisfaction surveys at
the time of acquisition were ranked “low to very low”,
reflecting dissatisfaction with the existing management of
the facility.
Immediately after acquisition, a series of management
changes resulted in improved resident and family
satisfaction. Significant efforts were made to improve the
transportation, physical plant, food services, resident care
and activities. Additionally, the physical plant was
upgraded to include a 21-unit Memory Care Unit. The
architectural plans and construction were promptly
permitted, licensed and approved. The remodel project
was done professionally, on time and on budget. The
resulting Memory Care Unit was quickly filled. The
configuration of the facility now includes 80 Assisted Living
units and 21 Memory Care beds, a net increase of 11 new
revenue beds. The occupancy percentage increased
steadily and with a focused effort on improving the payer
mix, the annual gross revenue has doubled and the facility
is now highly profitable. Resident and family surveys are
now consistently “very satisfied” and there is a waiting list
when vacancies occur.
