Veteran Services USA (VSUSA) is developing the largest, private senior housing and wellness program in the United States, marketed to veterans. Our program addresses the need for fixed-income housing and essential healthcare services that millions of veterans lack. The company is organized as a not-for-profit 501(c)3 entity dedicated to providing quality housing and services for veterans. We measure our value in terms of return on social capital, which includes the value created by our assets and the value of capital saved by society for having productive, healthy veterans.

The pandemic has depressed many valuable real estate assets, thereby enabling VSUSA to enter into contracts to purchase over 30 properties (to date) at ~50%+ discounts to valuations less than a year ago. These properties are mostly higher-end, full-service hotels, and large acute care hospitals in centralized locations throughout the U.S. (see real estate). The goal is to purchase and operate at least one property in each state. As an example, we are buying hotels for between $45,000 to $60,000 (average/per key). These are full-service Crowne Plazas, Hiltons, and Marriotts, all located in good markets. VSUSA is repurposing these real estate assets into mixed-use operations through a commercial condo sub-division process.

Our real estate assets have three distinct uses: (1) Affordable, independent housing for seniors (marketed to veterans) with permanent tax-exempt bonds secured by the Federal Housing Administration (FHA) 221D4 senior housing program and Low-Income Housing Tax Credits (LIHTC). The bonds will be placed for us by Stifel Nicholas Financial Group (today’s pricing of these tax-exempt bonds are 1.8% annual interest rate, fixed for 40 years); (2) A reduction of hotel capacity by 60% thereby making the hotel component more valuable while keeping the current flags (manager), then refinancing the hotel component in 36 months with a 10-year commercial mortgage-backed security (CMBS) debt and realizing a profit; and (3) A healthcare component with a proven adult day healthcare franchise, SarahCare, integrated with other supportive veteran services such as counseling and holistic wellness therapies. Given that our going in purchase price is very low, we can achieve a higher than usual profit margin with each development (detailed financial model information is available). Municipal governments are embracing and approving our program given that it fills a much-needed gap.

With our program, the monthly cost of housing remains affordable [60% Area Median Income (AMI)], which is not currently available for our senior veteran community in private, assisted living facilities. Given that each of our locations offers a distinct and varied assortment of programs and services, a veteran has the option to request a relocation to take advantage of other VSUSA programs and services at our other locations. The residential component will operate similar to a relocation, but with 12-month residency. For example, if a veteran wants to go to our Pittsburgh location where equestrian therapy is offered, the veteran simply submits a relocation request and pending availability the relocation is granted. The Pittsburgh market location will also include a military cemetery. But if Florida appeals to a veteran or veteran couple who believe(s) the warm weather can benefit their wellness they can relocate to one of our numerous Florida locations. We have a site in Bristol Connecticut (in conjunction with the Bristol Hospital) where we will be offering post-traumatic stress (PTS) therapies to female veterans.

For more information, please email us: real.estate@vsusa.org.