PROCESS & PHASING

PRE-ACQUISITION ANALYSIS

Identify Operating Expense Anomalies

Identify Staffing Overages/Shortages

Determine Rental Trends & Reasoning

Thorough Market Comp Study & Quantify Demand

Develop Positioning Strategy

PHASE 1 - ANALYSIS & ACQUISITION

WILLIAM JAMES TRANSITION

(Month 1)

The transition team takes over day-to-day operations

Immediately address staffing opportunities

PHASE 2 - PROGRAMING & IMPLEMENTATION

PROGRAM IMPLEMENTATION

(Month 2-3)

Convert all operations functions to our platforms including Prema

Financial Solutions for all AP/AR and financial reporting functions, PayChex for all payroll, HR and benefits, and WelcomeHome CRM for sales and marketing

Initiate Changes/Business Plan

Survey residents and prospects

Sales and hospitality training

RECOVERY AND GROWTH

(Month 4-5)

Community Begins to Grow and Thrive

Culture of operational excellence created

Staff trained on new technology and company protocols

Community pride flourishes

PHASE 3 - REPORTING & MONITORING

REVIEW AND REFINEMENT

(Month 6+)

Implement Reporting & Monitoring Program

Maintain Standards of Excellence

  • Sales

  • HR

  • Quality Measures

  • Expense Control

Investment Program Overview

SCOPE/STRATEGY

Primary: Turnaround Value Add Investment Strategy

Secondary: Development

Tertiary: Core (Stabilized)

GEOGRAPHIC LOCATION

Alabama; Connecticut; Delaware; Washington D.C.; Florida; Georgia; Kentucky; Maryland; South Carolina; New Jersey; New York; North Carolina; Pennsylvania; Tennessee; Virginia; West Virginia

PRODUCT TYPE & VINTAGE

Core (Stabilized): CCRC & IL/AL/MC & AL/MC; 2013+ Vintage

Value Add: CCRC & IL/AL/MC & AL/MC; 2000+ Vintage

Turnaround: CCRC IL/AL/MC AL/MC; 1990+ Vintage

DEMOGRAPHIC REQUIREMENTS

Core (Stabilized) & Development:

Adult Children minimum income of $120K

Seniors Affordability Ratio: 3x

Adult Children to Seniors Ratio: 5x

Value Add:

Adult Children minimum income of $100k

Seniors Affordability Ratio: 2.5x

Adult Children to Seniors Ratio: 4x

Turnaround:

Adult Children minimum income of $80k

Seniors Affordability Ratio: 2.5x

Adult Children to Seniors Ratio: 3x

HOLD PERIOD

Turnaround & Value Add: 3-5 Years

Development: 5-7 Years

Core (Stabilized): 7+ years (Long Term)

TARGET IRR RETURNS

Core (Stabilized): 8-10% IRR

Value Add: 11-15% IRR

Turnaround Development: 15%+ IRR

STANDARDS OF EXCELLENCE

Sales and Marketing

Sales and Marketing Plan in place for all communities, including:

  • Onsite sales assessment

  • Sales training

  • Ongoing sales support

  • Monthly scoreboard to reflect gains toward goals

  • This plan includes monthly goals for contracts and other analytics in CRM

CRM - WelcomeHome

  • Tracks leads, tours, advances, contracts, conversion rates, TSZ

  • Monitor through analytics in the CRM

  • ED’s complete audit tool weekly to identify areas for improvement

  • Provide monthly score boarding

Quality Measures

Call bell response time reports (daily and weekly)

ADL completion report (weekly)

QI/QM

Mock survey results (as completed)

Community Scoreboard (monthly)

Work Order response time report (weekly)

Expense Control

Partnership with Prema Financial Solutions for AR/AP, Reporting and controls

FTE & Wage Report (each pay period)

Departmental Spend Down (reviewed weekly)

OT and Agency report (twice a week)

Monthly BvA /Operations report

Human Resources

Open Position report (weekly)

Quarterly wage study (Payscale.com)

FTE report to validate needs

Turnover/Retention report (monthly rolling 12)

PayChex - scheduling software

PayChex - online training/in-services