The McEnery Company has been engaged by multiple regional lenders to provide both AS IS and Prospective Market Value appraisals of both the Bay Cove assisted living facility, as well as a more recently developed memory care unit exclusively designated for memory care patients. The Residences at Bay Cove are located on the Back Bay in Biloxi, MS. The assisted living building contains a total of 72 units, and the memory care building includes a total of 31 units. As is the case with all of our senior living work, we conducted a fully developed competitive market survey of existing supply and demand in the immediately local senior living marketplace to determine market supported rental rates and occupancy levels achievable for Bay Cove. We also have a keen understanding of accurate reporting of real property market value contribution and allocation of business enterprise value associated with the permitted and licensed status of senior housing.
