{"id":29660,"date":"2021-08-06T05:38:00","date_gmt":"2021-08-06T12:38:00","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=29660"},"modified":"2026-02-22T15:34:04","modified_gmt":"2026-02-22T23:34:04","slug":"changemaker-series-adam-kaplan","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/changemaker-series-adam-kaplan\/","title":{"rendered":"Changemakers Series"},"content":{"rendered":"\n

In a one-of-a-kind series sponsored by Yardi, Senior Housing News<\/a> (SHN) is recognizing pioneers driving the future of senior living. Deemed 2021 Changemakers, these leaders have taken unique steps to transform their organizations \u2014 tackling unforeseen challenges along the way.<\/p>\n\n\n\n

Say hello to Adam Kaplan<\/strong><\/p>\n\n\n\n

Adam Kaplan is an accomplished Yardi client<\/a> and the founder and CEO of Solera Senior Living<\/a>. Selected as a member of this year\u2019s Changemakers class, Adam has shown that taking an innovative approach to senior living is key to evoking positive change. Since founding Solera in 2016, he\u2019s pursed a focused strategy to take on complex projects \u2014 helping Solera grow into an organization with a hospitality-driven culture, empowered teams and a commitment to resident care.<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

With insights captured in his Changemaker interview<\/a>, Adam shares where Solera is headed next, how he\u2019s driven change and what he\u2019s learned during his years in senior living. Here\u2019s a highlight:<\/p>\n\n\n\n

As you think back on your career in senior living, what changes have you driven that you\u2019re especially proud of?<\/strong><\/p>\n\n\n\n

Many of the changemakers [in this series] are the pioneers who paved the way for people like myself. I don\u2019t see myself as a changemaker, I see myself as somebody who has been fortunate enough to build on a foundation that was put in place by the incredible senior living entrepreneurs who came before me.<\/p>\n\n\n\n

That said, the industry today is still led by many of those pioneers. While we\u2019ve attracted a lot of talent to the industry, I think we\u2019ve done a pretty poor job of attracting talent into operations as the industry matures. Many entrepreneurs have come into the industry through startups in technology, services and media, but the same cannot be said for operating companies.<\/p>\n\n\n\n

When I left Senior Lifestyle, I decided it was time for me to spread my wings and start my own business. I knew that there was a path for me to build an operating company because there were so few people in a position to do that. That\u2019s partially because you need so much capital to do this successfully.<\/p>\n\n\n\n

Not only do you have to be skilled at running a property, but you also have to be very savvy with evaluating deals and capitalizing transactions. To get a deal capitalized, you need the institutional background and track record. It\u2019s very challenging to do that.<\/p>\n\n\n\n

Can you talk a little bit about how you develop those core competencies to successfully manage a portfolio that\u2019s more geographically dispersed?<\/strong><\/p>\n\n\n\n

If you have a geographic strategy, you have to be more opportunistic. You say, \u201cOK, let\u2019s go do a couple of deals in a tertiary market.\u201d In a tertiary market, you\u2019re going to have a lower price point because you can\u2019t capture the same rent. \u201cNow let\u2019s go do assisted living and memory care, or let\u2019s do independent living only. Let\u2019s go do a high-end deal in the city.\u201d What does that sound like? It sounds like a hodgepodge of stuff. It\u2019s really hard to hire people who are good at all of that.<\/p>\n\n\n\n

They\u2019re probably either going to be passionate about a certain segment, or they\u2019re just going to end up migrating towards the mean. Regardless of the strategy, it will be hard to maintain different standards for each location.<\/p>\n\n\n\n

Instead, we have two different brand strategies, for the most part. Our growth strategy to date has been development, which encompasses a high-end hospitality-driven product.<\/p>\n\n\n\n

We also acquire, own and operate. The properties we\u2019ve acquired and the properties we manage are newer properties in good secondary markets. The expectations are different for those properties than they are for the properties we\u2019re developing. It\u2019s a lot easier for our operations team to support those communities because they know exactly what the expectations are.<\/p>\n\n\n\n

We have our \u201cdeveloped asset\u201d portfolio, and we have our \u201cclassic collection.\u201d We can define the standards and the expectations of the development portfolio assets. In the classic collection, we don\u2019t have to migrate towards the mean, and we don\u2019t have to be good at everything. We can be very disciplined and focused on what we\u2019re good at, and go and execute on it. To pull this off, you need strong leadership teams.<\/p>\n\n\n\n

You can\u2019t do what we\u2019re trying to do if you have to micro-manage an average executive director, an average sales director, and an average health and wellness director. Obviously, [in that case] you need to be within driving distance, and you need to be touching those buildings multiple times a week.<\/p>\n\n\n\n

We\u2019re seeing more of that personal touch and connectivity post-COVID, and we\u2019re still touching those buildings routinely, because they are only a short drive from the airport. We don\u2019t have anything that\u2019s more than a 30-minute drive from an airport. Today, we have five operating communities, and three properties in pre-leasing that will open in the next eight months. We have elected to focus on bigger communities between 100 and 175 units.<\/p>\n\n\n\n

That\u2019s very different from other operators that operate properties with 40 or 50 units.  They\u2019re a lot smaller, so it becomes more inefficient from a management perspective. Architecting the portfolio is really important, and if you ask around about the best operators in the industry today, I think people would point to the operators that have thoughtfully architected their portfolios. I do believe there\u2019s a common thread. Those are the operators I put on a pedestal.<\/p>\n\n\n\n

Read Adam Kaplan\u2019s entire SHN interview<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a one-of-a-kind series sponsored by Yardi, Senior Housing News (SHN) is recognizing pioneers driving the future of senior living. Deemed 2021 Changemakers, these leaders have taken unique steps to transform their organizations \u2014 tackling unforeseen challenges along the way. Say hello to Adam Kaplan Adam Kaplan is an accomplished Yardi client and the founder […]<\/p>\n","protected":false},"author":782,"featured_media":29661,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,2952,3354],"tags":[2855,842],"class_list":["post-29660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-people","category-senior-living","category-team-yardi","tag-changemakers-series","tag-senior-living"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"Explore an interview with Adam Kaplan, a senior living leader honored in the 2021 Changemakers series, presented by Senior Housing News.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardi.com\/blog\/changemaker-series-adam-kaplan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Changemakers Series\" \/>\n<meta property=\"og:description\" content=\"Explore an interview with Adam Kaplan, a senior living leader honored in the 2021 Changemakers series, presented by Senior Housing News.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/changemaker-series-adam-kaplan\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-06T12:38:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-22T23:34:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2021\/07\/2021-changemakers_AKaplan.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Natalie Mahn\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Natalie Mahn\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/changemaker-series-adam-kaplan\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/changemaker-series-adam-kaplan\/\",\"name\":\"Adam Kaplan Named Senior Living Changemaker - 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