How We Work
A diagnostic built to hold up in the room.
This is how Nordon approaches every engagement. We describe the approach. We do not publish the models.
What We Look At
We read the same things every time.
Every assessment covers the same set of signals. We score each one on its own before forming an overall view. No single finding drives the outcome. The full picture does.
01
Visibility
How visible the community is — where it shows up when families go looking.
02
Reputation
How its reputation is moving — the direction of sentiment, not just the rating.
03
Competitive Position
How it stacks up against the local competitors a family is also weighing.
04
Demand Durability
How its reputation is moving — the direction of sentiment, not just the rating.
05
Marketing Infrastructure
What the operator owns versus what disappears at close. Website ownership, ad account ownership, analytics access, CRM ownership, and the agency-or-operator question across each. Infrastructure that does not transfer is infrastructure the next operator has to rebuild.
06
Operator Local Capability
A composite read across the other six dimensions, scoped to this asset's specific submarket. Not a portfolio track record. Not a national brand reputation. The question is whether this operator wins in this market against these competitors. Operator Local Capability is read as a synthesis judgment, grounded in the evidence from the other six.
07
Transition Baseline
A point-in-time capture of the asset's external position at the moment of close. Same dimensions, taken as a snapshot, used to document inherited state and measure subsequent operator stewardship through the hold. The Transition Baseline is the buyer's anchor for what changed under their watch.
What We Look At
We read the same things every time.
Every assessment covers the same set of signals. We score each one on its own before forming an overall view. No single finding drives the outcome. The full picture does.
Tier 1 · First
External. What any outside party can see, assessed from publicly observable sources. No seller involvement required. Delivered in 5 to 7 business days.
Tier 2 · Second
Verified. External signals cross-checked against seller-provided backend data. Every first-pass finding confirmed or challenged. The seller provides backend data and we cross-check everything from the first pass. Where the two do not match, that gap is a finding. Delivered in 10 to 14 business days from receipt.
What We Look At
We name what we do not know.
Every finding in a Nordon report is labeled by how confident we are in it. A verified finding is different from an inferred one, and we say so. If something cannot be determined at the current tier, we name the gap rather than paper over it.
Verified
Backend or authoritative source confirms the finding directly. Available at Tier 2 once seller-provided data is in scope.
Observed
Public data shows the finding directly, without inference. Available at Tier 1 from sources visible to any external party.
Inferred
Multiple public signals together suggest a finding that no single source confirms. Most common at Tier 1 for dimensions where ground truth requires seller data.
Unavailable
The finding cannot be determined at this tier. Named openly in the deliverable. At Tier 2, items previously Unavailable typically resolve to Verified.
Risk Classification
Not all findings are equal.
Every finding is classified by how significantly it affects the investment decision.
Critical
Findings that materially threaten the investment thesis. Resolution required before proceeding.
Material
Findings that affect value or risk profile meaningfully. Should be weighted in committee discussion.
Moderate
Worth monitoring. Do not alter the recommendation independently.
Watch
Early signals. Not actionable at time of diagnostic, but flagged.
Sources
What the assessment reads.
The methodology draws on external digital signals: local search and mapping systems, the major senior living aggregator listings, public review systems, infrastructure-ownership signals, and operator-presented public assets. We describe the categories of data we read. We do not publish the specific systems, the weighting model, or the scoring rubrics. The standard is that every finding traces to a citable public source the buyer could verify independently, or, at Tier 2, to seller-provided backend data named in the methodology appendix.
Coverage
Where the methodology applies.
The same seven dimensions sit underneath all six configurations across five phases of the capital lifecycle. Market Entry Analysis runs at Market Selection. Pre-Acquisition Assessment runs Under LOI. Transition Baseline captures the moment of Closing. Portfolio Health Monitor and Asset Performance Diagnostic operate during the Hold Period. Exit Positioning Package prepares the asset Pre-Exit. Each configuration applies the methodology at the deal moment relevant to it. The dimensions do not change. The frame, the timeline, and the deliverable change to fit the question being asked.
Nordon's role is to read the asset, document what is, and tell the capital partner what the evidence supports. The buyer and their operating partner decide what to act on. The diagnostic is orientation, not advocacy.
Output
Four possible positions.
Proceed
The evidence supports the investment thesis.
Proceed with Conditions
The evidence supports proceeding, with named risks that need monitoring or adjustment.
Pause for Further Review
Specific areas need more validation before we can take a position.
Do Not Proceed
The evidence does not support the investment thesis at current terms.
Every recommendation is a position built from the best available evidence at the time of the engagement.