ORLANDO — Senior living veteran Scott McCorvie has launched a new venture, Vita Senior Living. The Orlando-based company is looking for value-add acquisitions in Florida.
“Vita is Latin for Life, and that’s exactly what our mission and purpose is each day — to improve lives, plain and simple,” says McCorvie, CEO of the new company. “Each investment includes a specific plan to update the design and aesthetic appeal. Even relatively minor changes to the FF&E, unit mix, lighting, technology and community amenities can make a huge impact to the resident’s life and overall wellness going forward.”
Along with upgrades to the real estate, Vita Senior Living is heavily focused on improving the operations. Each acquisition includes an operator transition period to ensure a smooth hand-off at closing.
Vita Senior Living developed a process that leverages team experience in senior living appraisal, investment and operations to uncover inefficiencies compared to market performance, says McCorvie. During the underwriting process, the company employs proprietary industry benchmarking analysis tools, and other industry resources to uncover any performance irregularities
The company’s improvement plans typically include revisions to hiring policies, recruitment, training, scheduling, record retention, expense management, agency contracts, vendor management, group purchasing, advertising, technology platforms and other key areas of operations.