How We Work
What follows is a description of the Nordon methodology. We describe the architecture. We do not publish the models.
The Scoring Framework
Every diagnostic evaluates a target asset across seven scoring dimensions. Each is scored independently before a composite position is formed. The composite recommendation is the product of the full scoring, not any single dimension.
01
Where the asset sits relative to its competitive set: occupancy, rate positioning, and market share signals. Market position is the most falsifiable dimension; external signals do not lie the same way operators can.
02
The underlying demographic and economic demand drivers in the asset's market area, evidenced, not projected. If the fundamentals are weak, no operational excellence offsets a structural demand problem.
03
Current and pipeline competitive supply: what exists, what is approved, what is under construction. We track the pipeline, not just the existing footprint.
04
Depth and quality of the competitive set: operator strength, pricing discipline, occupancy trajectory. An asset looks different at the top of a weak set than at the bottom of a strong one.
05
External signals of operational quality. Independently observable, not operator-provided. We work from what the market can tell us, not what the operator reports.
06
Rate structure, rate-to-market alignment, and pricing headroom or compression. Assets priced to fill beds rather than hold a market position carry a different risk profile.
07
Evidence base for projected performance improvement: occupancy trend, rate trend, market share movement. We assess whether trajectory assumptions have a basis in observable signals.
Evidence Grading
Every data point in a Nordon diagnostic carries a confidence label. We do not present uncertain findings with the same authority as verified ones.
Verified
Confirmed through multiple independent sources. High confidence.
Observed
Externally observable but not cross-confirmed.
Inferred
Derived from secondary signals.
Unavailable
Cannot be obtained through external channels. The gap is named.
Risk Classification
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.
Our Sources
Nordon's methodology is built exclusively from external data signals, independently observable and free from the interests of the seller. We do not publish our specific data sources. What we publish is our standard: if we cannot independently validate a data point, we tell you.
Output
Proceed
The market position evidence supports the investment thesis as presented.
Proceed with Conditions
Specific conditions apply. Named risks require monitoring or structural adjustment.
Pause for Further Review
Specific dimensions require additional validation before a position can be confirmed.
Do Not Proceed
The market position evidence does not support the investment thesis at current terms.
No diagnostic produces a guarantee. Every recommendation is a position built from the best available evidence at the time of the engagement.