TM 1Q15 2015 National Investment Center for Seniors Housing & Care (NIC). All rights reserved. Data believed to be accurate but not guaranteed; subject to future revision. This report is a part of the NIC MAP Data Service (NIC MAP). Distribution of this report or any part of this report without prior written consent or license by NIC is prohibited. For license information please contact NIC at 410-267-0504. National Investment Center for Seniors Housing & Care www.nicmap.org
Comp Set Characteristics Top 5 Operators Properties 33 Operator Properties Units Share Units 1971 Brookdale Senior Living (Multiple) 2 313 15.9% Avg Age Metros Counties 29 (IL),Will (IL) Affordable Community Housing Trust (PID# 6990) Unknown Stakeholder (PID# 5863) Villa Health Care (PID# 3217) 1 1 1 254 235 218 12.9% 11.9% 11.1% Pathway Senior Living (Multiple) 2 189 9.6% Total Number of Operators: 13 Segment Data Inventory 1Q15 Occupancy Quarterly Change Annual Change Average Rent 1Q15 Annual Change RPI 1Q15 Independent Living 977 92.6% 82 bps 431 bps $2,669 4.4% $2,482 Assisted Living 761 79.4% 174 bps 440 bps $4,058 0.0% $3,301 Memory Care 233 73.8% 160 bps -172 bps $5,631 0.7% $4,292 Nursing Care 3076 83.0% 133 bps -38 bps $225 9.0% Unit Data Segment Unit Type Inventory Unit Mix Occupancy Average Rent Entrance Fee Independent Living Studio 411 8.4% 86.6% $2,427 Independent Living 1 Bedroom 332 6.8% 96.4% $2,596 Independent Living 2 Bedroom 116 2.4% 97.4% $3,136 Assisted Living Studio 486 9.9% 75.3% $3,796 Assisted Living 1 Bedroom 178 3.6% 90.4% $4,650 Assisted Living 2 Bedroom 97 2.0% 79.4% $4,283 Memory Care Studio 176 3.6% 67.6% $5,562 Memory Care 1 Bedroom 28 0.6% 85.7% $6,175 Memory Care 2 Bedroom 13 0.3% Nursing Care Beds 3,076 62.6% 83.0% $225 Occupancy By Unit Type Average Rent By Unit Type 2
Comp Set Properties # ID Name Age Address Metro County Property Type/ Campus Type Units Operator 1 91 Alden Orland Park Rehab & HCC 18 16450 S 97th Ave Orland Park,IL 60467 200 Alden Services Inc. 2 298 Applewood Rehab Center 70 21020 Kostner Ave Matteson,IL 60443 115 Sir Inc. 3 346 Arden Courts of Hazel Crest 13 3701 West 183rd St Hazel Crest,IL 60429 64 HCR ManorCare 4 14061 Autumn Leaves of Orland Park 6 8021 W 151st St Orland Park,IL 60462 43 The LaSalle Group 5 1028 Emeritus at Orland Park 16 16051 S La Grange Rd Orland Park,IL 60467 82 22 Brookdale Senior Living 6 6343 Flossmoor, Sunrise of 16 19715 Governors Hwy Flossmoor,IL 60422 45 17 Sunrise Senior Living 7 7716 FT Care -Frankfort Terrace 25 40 Smith St Frankfort,IL 60423 Will 120 TM Healthcare 8 2642 Glenshire Nursing & Rehab Center 20 22660 Cicero Avenue Richton Park,IL 60471 281 Health & Home 9 2647 Glenwood Healthcare & Rehab 55 19330 S Cottage Grove Ave Glenwood,IL 60425 138 Certified Health 3
# ID Name Age Address Metro County Property Type/ Campus Type Units Operator 10 82 Heather Health Care Center 40 15600 Honore Ave Harvey,IL 60426 150 Alden Services Inc. 11 3217 Holland Home 42 16300 Louis Ave South Holland,IL 60473 97 89 32 Villa Health Care 12 3709 Lexington Healthcare Center of Orland Park 17 14601 John Humphrey Dr Orland Park,IL 60462 255 Royal Corporation 13 4006 ManorCare Health Services - Homewood 17 940 Maple Ave. Homewood,IL 60430 132 HCR ManorCare 14 4205 McAllister Nursing Home & Rehab, The 65 18300 Lavergne Ave Country Club Hills,IL 60478 111 McAllister Nursing & Rehab 15 3322 PineCrest Health Care 45 3300 175th St Hazel Crest,IL 60429 199 Care Centers Inc. 16 5119 Plaza Nursing & Rehab 50 3249 West 147th Street Midlothian,IL 60445 91 YAM 17 5150 Pointe At Kilpatrick, The 11 14230 Kilpatrick Ave Midlothian,IL 60445 74 9 Kensington Group 18 15752 Prairie Green at Dixie Crossing 2 1040 Dixie Hwy Chicago Heights,IL 60411 144 Senior Lifestyle 19 5175 Prairie Manor Healthcare Center 25 345 Dixie Hwy Chicago Heights,IL 60411 148 Extended Care LLC 20 5474 Robbins Supportive Living Facility ( The ) 14 13820 Utica Ave Robbins,IL 60472 123 Apex 21 5863 Smith Crossing 11 10501 Emilie Ln Orland Park,IL 60467 Will CCRC 173 46 16 30 Smith Senior Living 22 4304 South Suburban Rehabilitation Center 36 19000 S Halsted St Glenwood,IL 60425 215 Care Centers Inc. 23 1861 Symphony of Crestwood 41 14255 South Cicero Avenue Midlothian,IL 60445 276 Kensington Group 4
# ID Name Age Address Metro County Property Type/ Campus Type Units Operator 24 4906 The Park at Olympia Fields 16 3633 Breakers Dr Olympia Fields,IL 60461 209 Brookdale Senior Living 25 5396 The Villa at South Holland 38 16300 Wausau Ave South Holland,IL 60473 141 Villa Health Care 26 6607 Thornton Heights Terrace 40 160 W 10th St Chicago Heights,IL 60411 218 Barton Inc. 27 6622 Tinley Court Retirement Community 23 16301 S. Brementowne Rd Tinley Park,IL 60477 122 Michael Lerner 28 6793 Victorian Village 15 12600 Renaissance Cir Homer Glen,IL 60491 Will 53 38 30 Providence Life Services 29 6795 Victory Centre of Park Forest 13 101 Main St Park Forest,IL 60466 79 Pathway Senior Living 30 6797 Victory Centre of Sierra Ridge 9 4150 Gatling Blvd Country Club Hills,IL 60478 110 Pathway Senior Living 31 6990 Waterford Estates 26 17400 Kedzie Ave Hazel Crest,IL 60429 200 54 Affordable Community Housing Trust 32 7227 Windmill Nursing Pavilion 46 16000 Wabash Ave South Holland,IL 60473 150 Windmill Nursing Pavilion LLC 33 7318 Woodside Extended Care 57 120 West 26th Street South Chicago Hts,IL 60411 106 EKS Corp 5
Segment Occupancy 6
Segment Average Rent Segment Relative Performance Indicator (RPI) 7
Closed Transactions Date 3/3/2015 2/17/2015 12/22/2014 12/22/2014 12/17/2014 12/3/2014 11/26/2014 11/26/2014 10/17/2014 10/1/2014 9/30/2014 9/3/2014 9/2/2014 7/31/2014 7/31/2014 Property Name Wyndemere Parkshore Estates St Andrew Life Center Ballard Nursing Center Wood Glen Nursing & Rehab Center Lincolnwood Place Lakeview Nursing & Rehabilitation Center Mather Pavilion Spring Mill Health Services Bethany Terrace Nursing Center Highland Nursing and Rehab St Agnes Health Care Center Oakton Arms Emeritus at Joliet Emeritus at Joliet Courtyard Address 200 Wyndemere Cir Wheaton, IL 60187 6125 S Kenwood Ave 60637 7000 N Newark Ave Niles, IL 60714 9300 Ballard Rd Des Plaines, IL 60016 201 North Ave West 60185 7000 N McCormick Blvd Lincolnwood, IL 60712 735 W Diversey Pkwy 60614 820 Foster St Evanston, IL 60201 101 W 87th Ave Merrillville, IN 46410 8425 Waukegan Rd Morton Grove, IL 60053 9630 5th St Highland, IN 46322 17255 S. Wabash 60616 1665 Oakton Pl Des Plaines, IL 60018 3320 Executive Dr Joliet, IL 60431 3315 Executive Dr Joliet, IL 60431 Metro Prop. Type/ Campus Type CCRC FreeStanding CCRC CCRC CCRC Inventory 237 65 NC: 130 Tot: 432 NC: 318 Tot: 318 109 35 12 NC: 55 Tot: 211 NC: Tot: 191 NC: 207 Tot: 207 234 25 NC: 40 Tot: 299 NC: 178 Tot: 178 NC: 142 Tot: 142 48 15 NC: 46 Tot: 109 NC: 172 Tot: 172 NC: 38 Tot: 38 NC: 197 Tot: 197 102 NC: Tot: 102 0 95 0 NC: 0 Tot: 95 0 0 38 NC: 0 Tot: 38 Buyer/Seller Buyer: Bridge Investment Group Seller: Life Care Services LLC Cushman & Wakefield Buyer: Parkshore Estates Nursing Realty LLC Seller: Trust 8002364919 Buyer: Health & Home Seller: Presence Health Senior Living Investment Brokerage Buyer: Health & Home Seller: Presence Health Senior Living Investment Brokerage Buyer: Ventas Inc Seller: Platinum Health Care LLC (OH/IN/IL/MO) Buyer: NorthStar Realty Finance Corp Seller: Griffin American Healthcare REIT II Buyer: Infinity Healthcare Seller: 735 West Diversey Building LLC Buyer: Symphony Post Acute Network Seller: Mather Lifeways Cain Brothers & Co (NY) Buyer: Trilogy Healthcare Services LLC Seller: Health Care REIT Buyer: Legacy Healthcare Financial Services (IL) Seller: Buyer: ROMA Healthcare (MO) Seller: Ide Group Senior Living Investment Brokerage Buyer: Legacy Health Services Seller: Trust 43-6804-9 Buyer: Generations Health Care Property of Des Plaines LLC Seller: Trust 10-30182-09 Marcus & Millichap Co Buyer: Brookdale Senior Living Seller: Emeritus Corporation (WA - INACTIVE) Buyer: Brookdale Senior Living Seller: Emeritus Corporation (WA - INACTIVE) Close Price $44,547,000 $20,384,500 $9,500,000 $17,000,000 $18,700,000 $110,973,452 $1,892,001 $6,770,000 $20,594,850 $8,237,940 Price Per Unit Year Built/ Renovated Built: 1969 $103,118 1995 Built: 1975 $64,102 Built: 1953 $45,024 Built: 1972 $89,005 Built: 1989 $90,338 Built: 1992 $371,149 Built: 1981 Built: 1990 Built: 1998 Built: 1965 Built: 1960 $49,790 2005 Built: 1983 Built: 1988 $66,373 Built: 1998 $216,788 Built: 1999 $216,788 8
Date 7/31/2014 6/2/2014 5/12/2014 5/5/2014 4/4/2014 4/4/2014 Property Name Emeritus at Arborwood Winfield Woods HarborChase of Plainfield St James Manor & Villas Rittenhouse Senior Living Portage Rittenhouse Senior Living Address 430 Cleveland Rd E Granger, IN 46530 28 West 141 Liberty Road Winfield, IL 60190 12446 S Van Dyke Rd Plainfield, IL 60585 1251 E Richton Rd Crete, IL 60417 6235 Sterling Creek Rd Portage, IN 46368 1300 Vale Park Rd Valparaiso, IN 46383 Metro Prop. Type/ Campus Type Inventory 0 35 19 NC: 0 Tot: 54 NC: 138 Tot: 138 123 NC: Tot: 123 37 24 NC: 110 Tot: 171 30 42 NC: Tot: 72 100 NC: Tot: 100 Buyer/Seller Buyer: Brookdale Senior Living Seller: Emeritus Corporation (WA - INACTIVE) Buyer: Winfield Woods Realty LLC Seller: FNR Winfield LLC Buyer: CNL Financial Group (CNL) Seller: South Bay Partners Ltd Buyer: Extended Care Clinical LLC Seller: Trilogy Healthcare Services LLC Senior Living Investment Brokerage Buyer: Rittenhouse Senior Living Seller: PSLC/VSLC LLC Buyer: Rittenhouse Senior Living Seller: PSLC/VSLC LLC Close Price $9,486,332 $4,860,000 $26,500,000 $15,069,766 $20,930,230 Price Per Unit Built: $175,673 Year Built/ Renovated Built: 1971 $35,217 Built: 2010 $215,447 Built: 1984 Built: 2010 $209,302 Built: $209,302 9
GLOSSARY/TERMS Average Rent Care Segment Type Seniors Housing Independent Living Units Assisted Living Units Memory Care Units Nursing Care Beds Close Price Competitive Set Index Inventory Occupancy Entrance Fee Price Per Unit Relative Performance Indicator (RPI) Unit Mix Asking private-room rent plus the average fee for care services. For nursing care, this represents the average per diem private-pay rate for private rooms. Average rent may also be referred to as AMR for independent living, assisted living, and memory care and ADR for nursing care. Levels of care and services provided by the property. This can also be referred to as care segment. One unit of independent living, assisted living or memory care is equivalent to one nursing care bed. The combination of independent living, assisted living, and memory care units. The part or section of the property that provides independent living services. The part or section of the property that provides assisted living services, not including memory care services. The part or section of the property that provides services to persons with Alzheimer s disease or other form of dementia. These are generally separate or secured areas, with specific programming for persons with memory impairment in addition to services provided for persons in assisted living. The part or section of a property that only provides nursing care services. The total sales transaction price. If joint venture interest sold, this price is based on the 100% grossed-up price. Properties specified by the user to be used in analysis. "My Property" divided by the "Competitive Set" for any given metric. If the index value exceeds 1.0, "My Property" has a higher value than the "Competitive Set". The number of independent living units, assisted living units, memory care units, and nursing care beds that are operational and available for residence. One unit of independent living, assisted living, or memory care is equivalent to one nursing bed. The average unit occupancy of reporting properties. A property that charges a lump sum amount of money paid by a resident at the beginning of their stay that provides the right to occupy the residence. Properties generally charge at least $20,000 for this lump sum payment. This type of property generally charges a monthly fee in addition. The close price divided by the inventory of the portfolio. Data are marked as if there are an insufficient number of properties and/or unique stakeholders reporting data. The sum of occupied inventory multiplied by "Average Rent" for each distinct independent living, assisted living, or memory care unit type divided by total inventory of that care segment. The percent of units of a specific type relative to the total number of units. For example, a property with 50 one-bedroom units and 100 two-bedroom units has a one-bedroom unit mix of 33.3%. This excludes "unknown" units. 10