Episode 9:4 Scott McCorvie Shares the Secret Sauce for Vita Senior Living

After closing more than one billion of senior living transactions nationally, Scott McCorvie recently launched his own senior living company, Vita Senior Living. Find out why this native Floridian is banking on streamlined operations and an overall wellness model, combining healthcare with lifestyle improvement.

About Scott

Scott McCorvie, Founder and CEO of Vita Senior Living, leverages over 18 years specifically in senior living real estate finance, investment, and valuation. Prior to launching Vita Senior Living, Scott was CFO and EVP of Investments for a Florida-based senior living owner/operator (Alta Senior Living). Scott’s experience also includes time at two prominent healthcare REITs (CNL and Sentio), where Scott was successful in closing accretive senior living investments in markets across the country and was a vital member of the debt/equity capital and asset management leadership teams.

Scott worked for one of the largest, dedicated senior living real estate advisory firms, HealthTrust, where he completed over 500 senior living real estate appraisal and market study assignments in markets across the United States. Along with his industry experience, Scott leverages his undergraduate and graduate degrees in real estate from The Florida State University and The University of Central Florida, and produces an industry podcast, The Inner Circle of Senior Living.

Key Takeaways

• A strong defined culture is what separates good operators from great operators. The most important part of culture is having strong leadership.
• Multifamily housing is a better opportunity than hotels for adapted reuse. It’s hard to make the numbers work in a hotel conversion because costs are high, and design and safety components are not a good fit.
• Staffing and affordability are senior living’s biggest challenges—two things that are difficult to reconcile because one of the best ways to attract staff is to pay more.