2. Mary Krantz presents

3. 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. 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 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. Friends/Priority Phase Conversion Phase Construction Phase Fill-up Phase Maintenance Phase Redevelopment Phase

9. Mary Krantz presents

10. Match the Acronym ADAHealth Services ADLAssisted Living ALCertificate of Need ALFAEntrance Fee CCRCIndependent Living CCACMonthly Service Fee CONLong Term Care EFHome Care ILSkilled Nursing LTCAssisted Living Federation of America MSFAmericans with Disability Act HCContinuing Care Retirement Community HHActivity of Daily Living HSHome Health SNFContinuing Care Accreditation Commission

11. 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. Describing our clientele/Prospects/Leads & Residents: Seniors Elders / Elderly Mature Adults, 55 plus / 55 and better Retirees Older Adult

13. Bruce Byers presents

14. 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. 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

18. 25% growth 33% growth Other Households Top 35% of Households

20. 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. 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. 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. Cottages Apartments Catered Living

24. 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. 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. 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. 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. 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. 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. Identify Growth Initiatives (Repositioning, Expansion, Acquisition, New Development) Optimize Existing Operations Consider Ancillary Opportunities (HCBS, PACE, etc.)

31. Construction Development Fill-Up Financing Planning

32. CONCORDIA Add 18 ILU and 6 MS $6.7 MM Loomis Planning for four communities Reconfigure Health Center Add 7 AL and MS $9MM

40. 40

48. CONCORDIA

49. 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 CONCORDIA

52. 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

55. 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

56. 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)