Valuing and Buying Distressed & Underperforming Seniors Housing & Care Properties

Recorded June 24, 2010

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Find out how savvy investors “Make Profitable Real Estate Investments: Valuing and Buying Distressed and Underperforming Seniors Housing and Care Properties” - without ever having to leave your desk. 

Through 2011, the seniors housing and care market will continue to be flooded with properties that suffer from low occupancy, poor management, deferred maintenance, little to no cash flow and, often times, all of the above.  Add to this the tight lending market that makes it tough to close deals.  Yet, savvy investors will continue to buy and to finance distressed seniors housing properties.
  
Assemble your team and take away concrete tips from an experienced expert panel:

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Distinguished Panel of Experts:
 

Angela Mago joined Society National Bank, one of KeyCorp's predecessor companies, in 1987. Throughout her career at KeyCorp, Angela has been involved in structuring and arranging financing for many types of health care companies including senior housing and care providers, hospitals, medical office developers, and health care Real Estate Investment Trusts. Angela has been the National Manager for KeyBank Real Estate Capital's Healthcare Group since March 2003. Her current responsibilities include managing a $3.2 billion health care portfolio and directing the sales efforts of 26 health care professionals nationally, as well as supporting the efforts of 23 professionals in Key's Community Bank in the development of health care business in Key's 23 districts. The Healthcare Group at Key is focused primarily on arranging capital for seniors housing providers, hospitals, medical office developers and health care REITs, including construction financing, acquisition/bridge financing, and permanent mortgage financing.

Angela received a B.A. in Economics from the University of Michigan and an MBA in Finance from Case Western Reserve University. Angela is on the Board of Directors of National Investment Center (NIC), American Seniors Housing Association (ASHA), the Healthcare Real Estate Insights Advisory Board, and Catholic Charities Corporation of Cleveland..

Eugene W. Grace, a Certified Property Manager (CPM), has an extensive background in the marketing and management of senior housing services.  He has worked in all aspects of service and facility management. Before establishing Grace Management, Inc., in 1984, he worked for ten years for one of the nation’s largest and most diversified management service organizations, ARA Services.  Today, Grace Management, Inc. is an Accredited Management Organization (AMO®), through the Institute of Real Estate Management (IREM); it is a nationally recognized, independently owned company specializing in senior housing and multi-housing environments.

Mr. Grace has had over 26 years’ experience in the senior housing industry.  More recently, major corporations, financial institutions, developers, and owners have retained Mr. Grace to help them in the financing, development, marketing, and management of senior adult communities.  Grace Management, Inc. specializes in loan workouts and debt restructuring associated with troubled senior housing projects.

Mr. Grace has served on the executive board of NASLIE (the National Association of Senior Living Industry Executives), he is a member of the American Bankruptcy Institute, and he is a member of most of the major professional organizations associated with senior housing. Currently he is on board of LTC 100. Mr. Grace is a frequent speaker at national forums and conventions on marketing and management issues related to the seniors housing industry. Mr. Grace graduated with a B.S. degree in Hotel Administration from the University of Nevada, Las Vegas.

With skills and expertise developed over a twenty-year career in the real estate financing and development sector, John Rimbach's expertise is in the development, financing, management and operation of service enriched senior housing. Mr. Rimbach joined West Living in the Fall of 2008, as its President.

Mr. Rimbach was with AF Evans Company, Inc., a fully integrated residential housing development and management company, prior to taking his position with West Living.  At AF Evans Company Mr. Rimbach was Chief Operating Officer of the corporation and President of its two wholly owned property management companies, Evans Senior Communities, Inc. and Evans Property Management, Inc., overseeing the activities and performance of 50+ operating properties and 600+ employees. Prior to joining A.F. Evans Company in May of 1999, Mr. Rimbach was co-founder and Development Director of NCB Development Service, LLC. He has also held various credit administration and lending positions with Bank of America NT & SA.

Mr. Rimbach holds an MBA from Saint Mary's College, Moraga California and a Bachelor of Science degree from California State University, Sacramento.

Matt Marcos is a Senior Director with Alvarez & Marsal Healthcare Industry Group in New York. Mr. Marcos brings more than 14 years of diverse transactional, analytical and operating experience within the healthcare and chemicals industries. Mr. Marcos’ most notable assignments have included advising on a variety of sell-side, buy-side and leveraged buyouts across several sectors, including healthcare IT, revenue cycle management, medicare advantage, skilled-nursing, long-term care and pharmaceuticals. Mr. Marcos also served as adviser to the unsecured creditors committee for Integrated Health Services, Inc. and was part of the team advising the Board of Directors of Advanced Tissue Sciences during its Chapter 11 reorganization.  Mr. Marcos’ domestic and cross-border transactional experience includes mergers, acquisitions, public equity, private equity, leveraged and management buyouts, strategic alliances and restructurings.

Prior to joining A&M, Mr. Marcos was a director with the healthcare investment banking group of CIT, and an executive director with Eureka Capital Markets, where he provided financial advisory services to public and private middle-market companies on valuations, mergers, acquisitions and private placements of both debt and equity. Prior to his investment banking career, he was a manager with the commodity chemicals division of Mitsubishi International Corporation in New York.

Mr. Marcos earned a bachelor’s degree in international affairs, with a minor in biology, from George Washington University and a master’s degree in business administration in finance from New York University, Stern School of Business. He has also completed studies at Universidad Antonio de Nebrija (Nebrisensis) in Madrid and was a licensed NASD General Securities Registered Representative (Series 7 and 63).

Stephen M. Monroe is a respected and often quoted industry leader. He is the managing editor and partner at Irving Levin Associates, Inc., a research and publishing firm founded in 1948. The firm specializes in the seniors housing and health care investment markets and delivers timely market intelligence to subscribers through financial newsletters, acquisition reports and databases. Mr. Monroe is the editor of The SeniorCare Investor, the leading industry newsletter, and The Senior Care Acquisition Report, an often quoted annual study of acquisition trends in the senior care market, and executive editor of Senior Living Business. These publications have won numerous industry awards.

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