Investment Thesis

Dignify aging in Mexico, build hospitality-led senior communities, and deliver resilient returns.

Our vision is that families in Mexico will increasingly embrace senior living, moving past the stigma of abandonment tied to asilos (nursing homes). Demographics make this a necessity, not a luxury. Meanwhile, saturated and costly U.S. options will drive many seniors to retire in Mexico at a fraction of the cost and with a superior experience. Our two-pronged approach is based on domestic-driven demand and the growing potential from expat retirees, particularly from the U.S. and Canada, who are attracted by affordability, proximity, and Mexico’s strong caregiving culture.

Secular Trends

Kaab’s thesis is backed by the following 6 secular themes:

  1. Demographics drive structural demand. Mexico’s 75+ population will triple by 2050, representing a much larger share of the nation’s demographic profile. At the same time, longer life expectancy amongst elders and shrinking family caregiver capacity makes institutional senior living solutions not just desirable, but inevitable.
  2. A severe supply gap persists. Nationwide, there are only ~1,500 institutional-grade units in communities with 60+ beds, serving an addressable market of ~4.5 million adults aged 75+. This translates to fewer than 1 unit per 3,000 seniors — a penetration rate below 0.01%, among the lowest in the world.
  3. Cost and service advantage is unmatched. Mexico combines a strong caregiving talent pool and hospitality-driven culture with operating costs far below U.S. benchmarks. This enables delivery of higher-quality services, healthier margins, and accessible pricing for both local and international seniors.
  4. Cross-border demand is growing. A rising pool of U.S. Latinos with cultural ties and financial means are looking south for care solutions. Mexico’s proximity, direct flights, and safety in key cities make relocation to purpose-built senior living communities both practical and attractive.
  5. Macro tailwinds and capital inflows support growth. Mexico is a top beneficiary of nearshoring and resilient U.S. trade ties. Global investors are increasingly focused on Mexican real assets, with record-breaking FDI of US$34.2B in the first half of 2025. The macro runway for investment is long.

Cultural mindset shift is underway. Senior living in Mexico has historically carried stigma, but this is changing. Younger generations facing dual pressures — aging parents and modern work-life demands — are more open to professional solutions. Early adopters, rising awareness, and better designed communities are accelerating cultural acceptance.

Execution Strategy

Kaab is pursuing a dual strategy that combines the acquisition of existing senior living assets with potential for operational, financial, and experiential improvement, alongside the development of ground-up, build-to-suit communities designed to meet unmet market demand. This approach allows us to unlock value quickly through M&A opportunities while simultaneously creating purpose-built, next-generation assets that set new standards for quality, design, and care in Mexico.

Henry Cuesta

Co-Founder & Head of Senior Living Operations

An accomplished senior living professional with extensive experience leading operations across independent living, assisted living, and memory care communities. Henry specialize in optimizing performance, building high-impact teams, and delivering exceptional hospitality-based resident experiences. Proven ability to lead through change, drive growth, and inspire service-centered cultures.Henry cuesta brings extensive experience in both hospitality and senior living operations. Blending service excellence with compassionate care. He was born in Havana , Cuba and moved to Miami in his early 21’s. He is passionate about making a meaningful difference in the lives of residents and their families. With a deep commitment to residents well-being, He takes pride of creating a supportive environment where residents feel truly at home. When henry is not working, he enjoys spending time with his family and traveling specially getaway weekends.

Flor Quijas

Co-Founder & Head of Senior Living, Kaab Capital Management

Architect from the Universidad Autonoma del Estado de Mexico, MX; specialist in Senior
Living, Hospitality and Social Impact Projects, with experience and practice in the United
States and Mexico, focuses on the intersection of architecture, neuroscience, and human
well-being, exploring and researching how environments can activate emotions, memories
and connections. In 2024 she graduated from the NAAD (Neuroscience Applied to
Architectural Design) program at the Università IUAV di Venezia

Juan José Marulanda

Co-Founder & Investments VP, Kaab Capital Management

Juan José Marulanda is an Investment Professional at Kaab Capital Management, focusing on real-estate private-equity opportunities. He joined Kaab in April 2025 after two years with Alteon Partners, where he was an Investment Banking Associate working on M&A assignments across the region. Earlier, he served as an Investment Banking Analyst at Lazard and began his career as an intern at SBI Banca de Inversión. Juan José holds a B.A. in Economics from Pontificia Universidad Javeriana, where he also served as Chairman of the university’s Financial Group.

Jose Alfredo Molina

Co-Founder & CIO, Kaab Capital Management

José Alfredo (Freddie) Molina is an Argentine entrepreneur and investor with a background in finance, private equity, and business consulting. Based between Mexico City and Buenos Aires, he blends a family legacy of entrepreneurship with formal training in Business Administration. He has led ventures in investment banking, renewable energy, technology, and corporate consulting across Latin America, and co-founded Argentina’s first mortgage securitization platform for self-employed workers, securing over US$150 million from the IFC and global investors.

Today, as Co-Founder and Managing Partner at Kaab Capital Management, Freddie focuses on transforming Mexico’s Senior Living sector by creating dignified, sustainable, and culturally adapted communities that redefine aging with a human approach, centered on dignity and aligned with Mexican family values. He is committed to delivering long-term value for his business affiliates and investors.

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