Presentation Transcript

1. WELCOME!!!

2. Mary Krantz presents

   Greystone Overview & Development Timeline

3. Greystone Overview Who – Greystone Communities Michael Lanahan Paul Steinhoff Mark Andrews John Spooner When - 1982 What – Consulting Services Strategic Planning Market and Financial Analysis Site Analysis Planning Development Resident Marketing and Sales Capital (re)financing Mergers and Acquisitions Operations Management Services
4. Greystone Overview - 2 Statistics Consulted with more than 4oo owners & sponsors in more than 40 states Development responsibility for 88 senior living community start-ups, redevelopments and expansions involving more than $5.0 billion in capital costs and providing approximately List in your binder in section 1
5. Greystone Overview - 3 Greystone Marketing Role Interview and hire staff Conduct ongoing training based on marketing phase Set clear goals Develop marketing program base on proven marketing strategies as well as innovative ideas that would appeal to our prospects. Direct Advertising efforts Develop sales promotions to help team close the sale Problem solving/trouble shooting to help improve sales performance Monitor the lead tracking system Track the marketing budget during development phases . Communicate with the sponsor and gain approval for all marketing efforts.
6. Development Timeline Friends/Priority Phase Conversion Phase Construction Phase Fill-up Phase Maintenance Phase Redevelopment Phase
7. Development Timeline

8. BREAK

9. Mary Krantz presents

   Terminology – what’s in a name?Senior Housing and Care

10. Industry “lingo” Match the Acronym ADA Health Services ADL Assisted Living AL Certificate of Need ALFA Entrance Fee CCRC Independent Living CCAC Monthly Service Fee CON Long Term Care EF Home Care IL Skilled Nursing LTC Assisted Living Federation of America MSF Americans with Disability Act HC Continuing Care Retirement Community HH Activity of Daily Living HS Home Health SNF Continuing Care Accreditation Commission
11. CCRC Continuing Care Retirement Community Life Care Fee for Service Types A B C Levels of Care Independent Living Assisted Living Memory Support Skilled Nursing
12. How does a word sound &feel? Describing our clientele/Prospects/Leads & Residents: Seniors Elders / Elderly Mature Adults, 55 plus / 55 and better Retirees Older Adult
13. Bruce Byers presents

    Greystone Update

14. Rationale For Growth and Change Market driven opportunity – compelling demographics Mission – more purposeful today Keeping up with customer – changing at a faster pace Aging physical plants, out-dated programming and challenged business models Limited increase in new product growth Changing definitions of success
15. The Opportunity 2010 census confirms well-known trends 75+ market will double over next 25 years By 2030, 1 out of every 5 persons will be 65+ Recession curtailed new project growth Preferences of coming seniors will not accept older product and programs
16. Change in Workforce and Retired Age Groups
17. Population Growth Trend
18. Projected 75+ Households 33% growth 25% growth Top 35% of Households Other Households
19. Cumulative Market Increase
20. Demand Influenced in Multiple Ways Absolute demographic trends Seniors’ propensity to choose senior living: Market education/sophistication Impact of new product on market Living healthier, living longer Dispersed family unit Obsolescence of much older CCRC product Physical plant Programming Business mix
21. State of Current CCRC Supply According to 2010 state of seniors housing: 38% of all CCRC Units opened before 1986 Another 35% are between 10 and 25 years old Median CCRC is 20 years old compared with 10 years for stand-alone independent living units and assisted living units Median opening year for AZ100 CCRCs: 1983 Suggests many CCRCs are or will become dated
22. Drivers Much talk about adapting product to “new economy.” We must do that Change is typically longer-term evolutionary House - still serves same function, but how it’s designed/used has evolved over time We are seeing: “Smaller” projects with phasing Focus on pricing strategies and tactics to incent move (not price cutting) Programming focused on healthy aging Changing business mix
23. Changing Size and Business Mix Cottages Apartments Catered Living
24. Influencing Factors Providing what the senior wants to buy Continuing drive to maintain independence Services to promote aging in place Impact of technology and Home and Community Based Services (HCBS) Services to allow Wellness and healthy aging focus Lifelong learning, giving back, “green initiatives” Impact of healthcare reform and regulatory environment State of economy and senior perceptions Meeting affordability and value
25. Product Simplify Smaller projects and more focus on phasing More innovative and flexible space programs Fewer floor plans with recurring spaces Areas that matter to our customer Wellness and healthy aging Dining Socialization More diversified business Continued segmentation of the continuum of care Renewed focus on health services
26. Resident Program and Pricing Value scaled resident service options Alternate pricing plans, marketing tools Flexibility in defined health care benefits Put the “customer” in charge Hospitality Healthy Aging “Community Connectedness” Life long-learning
27. Questions We Get How do I fill my empty units? What can be done about my aging plant? How can I improve my margin? In what ways can we better serve our market? Can I serve the community at large? Is now a good time to “grow”?
28. Questions We Get Where/How can I expand into new markets? What do I do about my ghost town markets? How do we rebalance our business portfolio? How do I keep my costs in line? What changes are needed to my strategic plan? What does the consumer want?
29. Questions We Get How do I get my Board to understand we can’t sit still? How should my future growth be different than what’s worked for me in the past? How do I know that we have the right priorities? How do I balance fixing older assets with pursuing new growth assets? How do we/should we measure success?
30. How are Sponsors Responding
31. PROVIDERS ARE MOVING FORWARD Construction Development Fill-Up Financing Planning
32. ABERDEEN HEIGHTS Start up CCRC with 243 Apts $178.8 MM El Castillo CONCORDIA Add 18 ILU and 6 MS $6.7 MM East Ridge Marketing Audit 220 ILUs Reconfigure Health Center Add 7 AL and MS $9MM FIELD HOME Add 102 IL downsize to 96 SNF $114 MM The Barrington Start up CCRC with 134 ILUs $132 MM Redstone Add 36 ILUs and Wellness $17 MM Miralea Add 102 ILUs $50.2 MM JEWISH HOME SAN FRANCISCO Planning repositioning for 430 SNF Edgewood Summit Add 18 MS & 20 SNF $14 MM Loomis Planning for four communities Gurwin Planning 150-200 ILUs
33. Mirador – Corpus Christi, TX
34. The Stayton – Fort Worth, TX
35. Aberdeen Heights – Kirkwood, MO
36. Arbor Oaks at Crestview – Bryan, TX
37. Park Place – Elmhurst, IL
38. The Admiral – Chicago, IL
39. Greenfields Of Geneva – Geneva, IL
40. Miralea – Masonic Home, KY
41. The Terraces At Bonita Springs – Bonita Springs, FL
42. The Barrington of Carmel – Carmel, IN
43. Arbor Oaks at Crestview, Phase II – Bryan, TX
44. Redstone Village Phase IV – Huntsville, AL
45. San Joaquin Gardens – Fresno, CA
46. The Terraces At Harris Ranch – Boise, ID
47. Edgewood Summit Concordia
48. Edgewood Summit Concordia Sponsor Edgewood Summit, Inc. Charleston, WV Phase I – 1995 Phase II – 2001 Current Scope 122 ILUs 10 ALs $5.8 Revenue Project 18 MS 20 SNF $14.0 MM Total Uses Sponsor Lutheran Senior Citizens Oklahoma City, OK Phase I - 2005 Current Scope 96 ILUs 37 ALs 16 MS 30 SNF $6.5 Revenue Project 18 ILUs 6 MS $6.1 MM Total Uses
49. Field Home
50. Field Home Sponsor Field Home – Holy Comforter Cortlandt Manor, NY SNF Built in 1985 AL built in 2003 Existing 202 SNF 40 AL 40 MS $27 MM revenue Project 102 ILUs 96 Replacement SNF $114.3 MM Total Uses
51. The Terraces at Bonita Springs
52. The Terraces at Bonita Springs Sponsor Santa Fe Healthcare Bonita Springs, FL POS issued August 2011 Scope 144 ILUs 49 ALs 18 MS 40 SNF $172.7 MM Total Uses
53. Future Opportunity Market growth remains – need will always be there Slower economy has limited new supply, yet aging continues Have to constantly craft our approach and product to meet changing definition of what “retirement” means and customer’s sense of value Near term opportunities with land and construction ($/timing)

54. WRAP UP