ASHA 50 - American Seniors Housing Association

1 ASHA. 50 American Seniors Housing Association The 50 largest Seniors Housing real estate owners 2015 and operators Special supplement to Seniors Housing Business Heartland Real Estate Business Northeast Real Estate Business Southeast Real Estate Business Texas Real Estate Business North Shore Place, Northbrook, IL. Western Real Estate Business Photo Courtesy of senior Lifestyle Corporation, Chicago, IL. Reliable, Customized Capital Solutions to Meet Your Needs Ventas, an S&P 500 company, has a well-earned reputation for bringing both creativity and financial strength to completing transactions of any size and complexity. Seniors Housing | MEDICAL OFFICE BUILDINGS | HOSPITALS | SKILLED NURSING FACILITIES | Healthcare SIGNS OF LONG-TERM. SUCCESS. Capital One understands that senior and long-term care facilities require customized solutions for their financing needs. Our depth of knowledge ensures concrete results, while a team of experts guides you through the lending process, pointing the way to success.

2 Keith Kodrin Joshua Rosen Balance Sheet Lending Agency Lending (301) 280-0207 (312) 350-4236. @ @ All loans subject to credit approval. Terms and conditions apply. Products and services offered by Capital One, , Member FDIC. 2015 Capital One. All rights reserved. 2015. ASHA. 50. Contents The 2015 asha 50 . Top 50 Owners 6. This special edition of Seniors Hous- sidies, single-family homes, hotel Top 50 Operators 8. ing Business features the Ameri- rooms, stand-alone skilled nursing asha 50 Survey Highlights 10 can Seniors Housing Association beds, or mobile home units and (ASHA) 22nd annual compilation of pads are not included. Q&A with Larry Cohen: our industry's authoritative ranking Additionally, the asha 50 . A Steady Hand of the nation's largest Seniors hous- rankings do not include properties at Industry Helm 14. ing owners and operators. where more than 30% of the units ASHA Executive Committee 20 To ensure the accuracy of the are licensed for skilled nursing.

3 2015 asha 50 , ASHA assembled Respondents were requested not ASHA Executive Board 22 a list of prospective ranked compa- to report properties owned indi- ASHA Advisory Committee 34 nies from every available source. rectly through ownership of shares A senior officer from each firm in another company and were ASHA Associate Members 37 was asked to provide their current instructed not to include proper- holdings as of June 1, 2015. Data ties leased from other owners for ASHA Staff and Counsel 44. was also used from outside sources purposes of calculating the ASHA. Walk to End Alzheimer's 46 deemed reliable, such as public 50 owners list. filings. The asha 50 was compiled About ASHA 48. Companies listed in the ASHA and analyzed by Krystalle Campo ASHA Meetings 49 50 are not required to be members and David Schless of ASHA, who of ASHA, although most firms that express their appreciation to the 2016 ASHA Annual Meeting 50 appear in this year's rankings are industry leaders for their partici- ASHA Bookstore 53 ASHA members.

4 Pation in this annual effort. Special For purposes of this survey, thanks to Lisa McCracken of Ziegler Seniors Housing PAC 55 Seniors Housing units include inde- Investment Banking for her valu- pendent living units and assisted able assistance. Seniors Housing living units, as well as memory In addition to the asha 50 . Public Policy Outlook 56. care/Alzheimer's units and skilled rankings and analysis of the results, ASHA's New Consumer nursing beds, which are part of a this section includes ASHA member Education Website 58 larger retirement living complex profiles, a listing of the leadership, (such as a CCRC), and include members and employees. rental, entrance fee units designed and operated exclusively for adults For those readers interested in more aged 55 years and over. information about the American Units where residents receive Seniors Housing Association , visit Section 8 or equivalent rental sub- Living Longer Better The 2015 asha 50 is a publication of American Seniors Housing Association 5225 Wisconsin Avenue, Suite 502.

5 Washington, DC 20015. The 2015 asha 50 is published in cooperation with France Media, Inc. 2015 France Publications, Inc. d/b/a France Media, Inc. The opinions and statements made by authors, contributors and advertisers herein are not necessarily those of the editors and publishers. 4 2015 asha 50 . Standardize on a one-vendor, all-business platform for transparent and efficient community management and a lower total cost of ownership. ERIC KOLBER. Vice President, Yardi senior Living GAME CHANGING INNOVATION. YARDI senior Living Suite TM. Replace multiple systems with the senior living industry's only platform with integrated solutions for each phase of community management, including marketing, leasing, and resident care. Social. Mobile. Smart. To learn more, call or visit 2015. ASHA. 50. 2015 asha 50 Owners 50 Largest Seniors Housing Owners as of June 1, 2015. 2015 Chief 2015 2015. Rank Company Headquarters Executive Properties Units 1 Brookdale senior Living Brentwood, TN T.

6 Andrew Smith 976 82,356. 2 Ventas Inc. Chicago, IL Debra Cafaro 785 69,708. 3 Health Care REIT Inc. Toledo, OH Thomas DeRosa 611 59,786. 4 HCP Inc. Irvine, CA Lauralee Martin 491 49,731. 5 senior Housing Newton, MA David Hegarty 297 34,772. Properties Trust 6 Boston Capital Boston, MA Jack Manning 486 29,741. 7 NorthStar Healthcare New York, NY James Flaherty, III 209 17,514. 8 senior Lifestyle Corporation Chicago, IL Jon DeLuca 176 16,685. 9 New senior New York, NY Susan Givens 124 14,838. Investment Group 10 Holiday Retirement Lake Oswego, OR Kai Hsiao 114 13,768. 11 Harrison Street Chicago, IL Michael Gordon 107 12,359. Real Estate Capital 12 National Health Murfreesboro, TN Eric Mendelsohn 103 8,678. Investors (NHI) 13 Highridge Costa Companies Gardena, CA Michael Costa 84 8,402. 14 ACTS Retirement-Life West Point, PA J. Mark Vanderbeck 21 7,982. Communities Inc. 15 Enlivant Chicago, IL Jack Callison 177 7,829. 16 American House Bloomfield Hills, MI Dale Watchowski 61 7,002.

7 senior Living Communities 17 Presbyterian Roseville, MN Daniel Lindh 38 6,837. Homes & Service 18 Brightview senior Living Baltimore, MD Marilynn Duker 60 6,750. 19 Capital senior Living Dallas, TX Lawrence Cohen 68 6,718. Corporation 20 Erickson Living Baltimore, MD R. Alan Butler 8 5,787. 21 CNL Healthcare Properties Orlando, FL Steve Mauldin 59 5,627. 22 LTC Properties Inc. Westlake Village, CA Wendy Simpson 100 5,414. 23 Westminster Communities Orlando, FL Roger Stevens 19 5,413. of Florida 24 Pacifica senior Living San Diego, CA Deepak Israni 54 5,265. 25 Hawthorn Retirement Vancouver, WA Patrick Kennedy 43 5,236. Group LLC. 6 2015 asha 50 . 2015. ASHA. 50. 2015 asha 50 Owners 50 Largest Seniors Housing Owners as of June 1, 2015. 2015 Chief 2015 2015. Rank Company Headquarters Executive Properties Units 26 Sabra Health Care REIT Inc. Irvine, CA Richard Matros 54 5,198. 27 USA Properties Fund Inc. Roseville, CA Geoffrey Brown 36 5,110. 28 Covenant Retirement Skokie, IL Terri Cunliffe 15 4,865.

8 Communities Inc. 29 LCS Des Moines, IA Edward Kenny 28 4,787. 30 Benchmark senior Living Wellesley, MA Thomas Grape 50 4,587. 31 The Evangelical Lutheran Sioux Falls, SD David Horazdovsky 25 4,446. Good Samaritan Society 32 Lifespace Communities Des Moines, IA Sloan Bentley 12 4,084. 33 Kayne Anderson Boca Raton, FL Al Rabil 17 3,878. Real Estate Advisors 34 The Kendal Corporation Kennett Square, PA John Diffey 12 3,729. 35 Vi Living Chicago, IL Randal Richardson 10 3,577. 36 ARC Healthcare Trust II New York, NY Todd Jensen 49 3,560. 37 Lutheran senior Services St. Louis, MO John Kotovsky 11 3,406. 38 Belmont Village senior Living Houston, TX Patricia Will 24 3,390. 39 Spectrum Retirement Denver, CO Jeffrey Kraus & 28 3,339. Communities LLC John Sevo 40 Merrill Gardens Seattle, WA David Eskenazy 28 3,286. 41 Presbyterian senior Living Dillsburg, PA Stephen Proctor 20 3,120. 42 Sunshine Retirement Living Bend, OR James Matthews 23 3,117. 43 Five Star senior Living Newton, MA Bruce Mackey, Jr.

9 31 3,064. 44 Cornerstone Affiliates Pleasanton, CA David Ferguson 11 3,057. 45 Vintage senior Living Newport Beach, CA Brian Flornes 23 3,056. 46 Lytle Enterprises Bellevue, WA Charles & Karen Lytle 19 3,027. 47 Ohio Presbyterian Columbus, OH Laurence Gumina 12 2,986. Retirement Services 48 ROC Seniors Housing Orlando, FL Robb Chapin 28 2,978. Fund Manager 49 Pacific Retirement Services Medford, OR Brian McLemore 9 2,826. 50 Asbury Communities Germantown, MD Doug Leidig 5 2,780. 2015 asha 50 7. 2015. ASHA. 50. 2015 asha 50 Operators 50 Largest Seniors Housing Operators as of June 1, 2015. 2015 Chief 2015 2015. Rank Company Headquarters Executive Properties Units 1 Brookdale senior Living Brentwood, TN T. Andrew Smith 1,138 110,443. 2 Holiday Retirement Lake Oswego, OR Kai Hsiao 308 37,657. 3 LCS Des Moines, IA Edward Kenny 123 32,172. 4 Five Star senior Living Newton, MA Bruce Mackey, Jr. 272 31,267. 5 Sunrise senior Living LLC McLean, VA Chris Winkle 245 22,561.

10 6 Erickson Living Baltimore, MD R. Alan Butler 17 20,517. 7 senior Lifestyle Corporation Chicago, IL Jon DeLuca 201 20,334. 8 Atria senior Living Inc. Louisville, KY John Moore 153 17,958. 9 Capital senior Living Corporation Dallas, TX Lawrence Cohen 118 11,632. 10 Elmcroft senior Living Louisville, KY Pat Mulloy 101 8,874. 11 ACTS Retirement-Life West Point, PA J. Mark Vanderbeck 21 7,982. Communities Inc. 12 Enlivant Chicago, IL Jack Callison 177 7,829. 13 Watermark Retirement Tucson, AZ David Barnes & 38 7,483. Communities David Freshwater 14 Meridian senior Living Hickory, NC Charles Trefzger 130 7,026. 15 American House Bloomfield Hills, MI Dale Watchowski 61 7,002. senior Living Communities 16 Leisure Care Seattle, WA Dan Madsen 43 6,943. 17 Presbyterian Homes & Services Roseville, MN Daniel Lindh 38 6,837. 18 Brightview senior Living Baltimore, MD Marilynn Duker 61 6,795. 19 Westminster Communities Orlando, FL Roger Stevens 21 5,713. of Florida 20 Hawthorn Retirement Group LLC Vancouver, WA Patrick Kennedy 43 5,236.