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