09/11/2023 - Letter from Luke Lee, Founder & CEO
Dear Investors, Shareholders, and Friends,
We hope this letter reaches you in great health and high spirits. It is with great pleasure and enthusiasm that I share some exciting news about our company’s recent developments and achievements.
First and foremost, I want to express my gratitude to each and every one of you for your continued support. It is your support that has fueled our growth and success.
I am excited to share that we are now a fully vertically integrated company. Our subsidiaries include NSite Development, Lucas Construction, Cre8tive Architects, Innov8tion Marketing, and our operator, Volante Senior Living, who now operates over 60% of our portfolio. Volante currently operates 23 communities in 11 states, providing care for over 1800 residents every day.
We have witnessed significant expansion in our team over the past year. Our corporate office is now 140 members and growing. I am honored to have recently welcomed Robert Licht as Chief Financial Officer, Keith Maki as Director of Accounting, and Krupa Patel as Corporate Controller, bringing a combined experience of over 70 years to the firm. Our accounting and finance team alone is now 40 team members strong.
Over the past few years, we have been constantly reaffirmed in our decision to focus on senior housing. Our cash flow has remained robust, despite the many headwinds of the last few years that included the pandemic, record inflation, and a Fed tightening cycle. This industry remains one of the few historically recession resilient asset classes, backed by America’s aging demographic. This creates an opportunity for us to strive for predictable, consistent, and conservative offerings we can give investors. More importantly, we also have seen the impact we have at the community level.
This impact has been echoed through our employees, residents, as well as the friends and families of our residents, who put their faith in us to be a caregiver to their loved ones. This is why we recently coined the “Volante Way,” a method of training that Volante has incorporated in their onboarding and continuing education programs, which heavily focuses on each individual resident’s experience and unique care plan. As Volante grows as an operator, we strive to make the Volante Way an industry gold standard.
This year, I have been thrilled with the leaps and bounds we have made as a company. Our current portfolio, which includes over $1.3 billion in Assets Under Management, is a hallmark to our collective commitment to meet the demands of our dynamic industry. Over the past three years, we have raised over $800 million in investor equity, a true testament of our goal to provide the best-in-class offerings to our investors, which currently include Development Funds, Income Funds, and Delaware Statutory Trusts. I am even more excited about the potential growth to come and thank you for making it all possible.
For any questions, please contact our Investor Relations Team at Investor@IHCFunds.com. We look forward to the flourishing growth of Inspired Healthcare Capital and our continued partnership!
Sincerely,
Luke Lee, Founder and CEO
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