National Seniors Housing Group Specialized Real Estate Services

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1 COLLIERS INTERNATIONAL National Seniors Housing Group Specialized Real Estate Services Accelerating success.

2 This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s) All rights reserved. 2015_04

3 national seniors housing group Confidentiality The National Seniors Housing Group is trained in confidential marketing. We share your concerns for the preservation of value, facility reputation, resident s trust in the care provider, and employees stability in the work environment. The marketing process is designed to minimize the chance of creating a rumor milled effect in both the industry and the facility, which could jeopardize its reputation with residents, employees and the community. All potential buyers and operators are required to sign Confidentiality Agreements in order to receive marketing materials. The Colliers International Seniors Housing Group is committed to providing a wide array of seniors housing brokerage services to this dynamic and thriving sector. We represent a range of seniors housing owners, investors, developers and operators aiming to create a customized solution for their real estate and financing needs. Whether large REITs or small facilities, we bring the transactional expertise to the deal. The National Seniors Housing Group offers an international platform of integrated seniors housing real estate and advisory services. SENIORS HOUSING ASSET SPECIALTIES > > Independent Living Facilities > > Assisted Living Facilities > > Skilled Nursing Facilities > > Continuing Care Retirement Facilities > > Seniors Apartment > > Memory Care Facilities > > Rehab Facilities Colliers International National seniors housing Group 3

4 national seniors housing group Our Vision Seniors housing institutions are unique and often require creative solutions. The National Seniors Housing Group delivers a full-service platform designed to address the varied needs of all seniors housing asset types, from assisted and independent living facilities to skilled nursing and rehab facilities. The National Seniors Housing Group aligns our clients real estate decisions with their core business goals, customer needs and government regulations. Accessibility Financial Infrastructure Security Regulatory Location Our goal is to continue to build the best and most experienced group of seniors housing professionals in the business. Our focus is firmly centered on delivering superior results to our clients with passion and enthusiasm. GROUP RESOURCES > > Brokerage Services - Facilitating the acquisition and disposition of portfolios and individual facilities nationwide. > > Capital Market Services - Utilizing our vast network of capital markets partners; we connect debt & equity sources with innovative new projects. > > Consulting & Advisory - The National Seniors Housing Group at Colliers International provides a wide array of consulting and advisory services. From strategic planning and site assessment to market research and financial analysis. We are here to assist you from start to finish. SERVICES OFFERED > > Acquisition/Disposition of Portfolio s and Individual Facilities > > Sale/Leaseback > > Capital Market Services (Debt/Equity Sourcing) > > Joint Venture Partners > > Land/Development > > Property Valuation and Financial Analysis > > Advisory/Consulting Services > > Market Research 4 national seniors housing Group Colliers International

5 CLIENT TYPES > > Private Investor > > REITs > > Investment Banks > > Hedge Funds > > Private Equity Firms > > Local & State Government > > Operators > > Developers > > Managers > > Financial Institutions > > Lenders Including other seniors housing owners/companies that may have holdings in this sector. Colliers International National seniors housing Group P. 3 Colliers International national Education seniors Services housing Group P. 53

6 National Seniors Housing Group Kenneth J. Carriero, CCIM National Director Senior Vice President Damien Carriero Director Bob Gaines Vice President Jeffrey Hyman Regional Director Senior Vice President Christopher LoBello Vice President Douglas Brawn Vice President Case Studies the shire at culverton and north village apartments The sale consisted of two components, The Shire at Culverton, an Assisted Living Facility (ALF) and North Village Apartment, an Independent Living Facility (ILF). The marketing of these facilities faced many challenges. The properties were 40 years old and there was a significant amount of deferred maintenance, as well as a mix of geriatric and limited mental health residents at The Shire at Culverton. However, a very important attribute to this sale, was the current license in place by the New York State Department of Health (DOH) Assisted Living Program. The facility was to operate 200 assisted living beds, with 48 of them being approved for Medicaid support, under the DOH s Assisted Living Program. Very few assisted living facilities in New York have access to this funding source. The North Village Apartment complex consists of 28 one-bedroom and 14 two-bedroom units. Due to the previous downturn of the real estate market, the owner chose to eliminate the age restrictions at this apartment complex, allowing tenants with minor children. Although the elimination of age restriction increased occupancy levels, profitability was minimal. > > Strategy: Realizing that this facility would not fit into the typical seniors housing business model of a national or institutional investor, a decision was made to present this opportunity to regional, local and non-profit organizations. A new operator would have to reposition the facility by reorganizing it into an independent living/seniors apartment complex, which was its intended use. > > Result: Through our target market, a buyer was found who envisioned renovating the facilities as well as putting in place, an aggressive marketing campaign to attract the right type of residents to The Shire at Culverton and North Village Apartments. Finding a REIT, whose vision aligned with the buyer, enabled the opportunity to culminate into a successful closing. The transaction closed at a 7.6% cap rate, which is uncommon for a facility of this age and condition. LANGDON HALL An 80-bed assisted living facility in Florida operating at 85% occupancy. Current owners were an investor group who had to foreclose on the facility and hire a team to continue to operate the facility. The owners needed to dispose of this asset in a timely manner. > > Strategy: To present this opportunity to national and regional operators and REITs with a market price that was supported by the trailing twelve month financials. > > Result: The client benefited by experiencing a smooth transition from contract, through due diligence, to closing, combined with assistance regarding state regulations and applications. 6 national seniors housing Group Colliers International

7 Our Services At a glance 502 offices in 67 countries US $2.3 billion in annual revenue 16,300 professionals and staff 1.7 billion* square feet under management $97 billion USD in total transaction value * Square footage includes office, industrial and retail property under management. Residential property is excluded from this total. All statistics are for Founding member of the World Green Building Council Colliers International is a global leader in commercial real estate services, with more than 16,300 professionals operating out of 502 offices in 67 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate occupiers, owners and investors Colliers International worldwide, including global corporate solutions, brokerage, property and asset Colliers International management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. Colliers International has been recognized and ranked by the International Association of Outsourcing Professionals Global Outsourcing 100 for 10 consecutive years, more than any other real estate services firm. Member of World Economic Forum Named Top 100 service provider more times than any other real estate firm National seniors housing Group P. 5 Education Services Group P. 5

8 Need presence on colliers.com currently data center page resides on Atlanta market page colliers.com/us/seniorshousing