Senior Care Acquisition Market: Is the Bottom Behind Us?

Recorded September 17, 2009

Order the CD or Transcript of our 7th annual SeniorCare Investor audio conference featuring expert analysis of the current seniors housing and care acquisition market and exclusive mid-year M&A statistics.

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Is the bottom is behind us? The seniors housing and care acquisition market is picking up momentum after a slow start in the first half of 2009. So far, July was the most active month of the year. Don't miss this opportunity to learn how you too can profit from these new market developments.

Be the first to find out who is doing the buying and why buyers are stepping into the market at this point in time. Be the first to learn if the smaller lenders can really handle a higher level of activity, or if the big lenders must come back in.

The panel of leading industry dealmakers will analyze exclusive mid-year merger and acquisition statistics and the current market to predict what the future will hold during this 7th annual 90-minute audio conference. Don't miss out and learn:

  ●       What were the average prices paid and cap rates in the first half of 2009? How do they
           compare 
with last year? Or, next year?

  ●       What can we expect in the next twelve months?

  ●       What impact have the financial troubles at Sunrise Senior Living and Sunwest Management
          had on 
the acquisition market? 

  ●       Plus, a chance to ask the experts your burning questions on the acquisition market

...and much more!

Featured Moderator:

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.

Featured Speakers:

Arnold Whitman is the founder, Co-Chairman and Chief Executive Officer of Formation Capital LLC, a leading equity investor in the seniors housing and long-term care properties industries. Over the past quarter-century, he has helped finance properties valued at a total of more than $6 billion – including $4 billion of such financing as head of Formation over the past five years alone. Mr. Whitman’s career started in 1985 with MediPlex and other seniors care and housing entities. He created Formation Capital as an advisory and equity investment firm in 2000. In addition, Mr. Whitman is a founder in Prime Care Properties and a founding member and current executive board member of Care Institute, a not-for-profit owner of seniors housing and care properties.

 

Peter Pickette is Managing Director of CS Capital Advisors, LLC, a dedicated investment banking and corporate advisory group, providing high quality, value-added financial services, creative solutions, and advice, as well as access to capital to senior housing, real estate investment trusts and other real estate intensive industries. The CS Capital Advisors team has unmatched depth of experience, knowledge and expertise in senior housing and real estate having worked together since the early 1990’s completing over 250 transactions representing in excess of $43 billion of transaction value. The company specializes in complex mergers and acquisitions, restructurings and capital raising transactions including complicated partnership roll-ups, affiliate mergers and other challenging transactions. Mr. Pickette co-founded CS Capital Advisors, LLC (formerly known as Cohen & Steers Capital Advisors, LLC) in 1999. The team of founders had previously worked together at Schroder & Co. and NatWest Markets. Peter received a Bachelor of Science in Finance from the Wallace E. Carroll School of Management at Boston College where he graduated Magna Cum Laude.

 

John Moore is the Chief Executive Officer and a Director of Atria Senior Living Group where he is also a member of the Executive Committee. Mr. Moore is also a Managing Principal and the Chief Financial Officer of Lazard Real Estate Partners (“LREP”), a real estate private equity business, and a Managing Director of Lazard Alternative Investments. He previously served as a member of the Partnership Committee for The Rubenstein Company, L.P., a member of the Membership Committee of InTown Holding Company, L.L.C., and as a Director of ARV Assisted Living, Inc., on behalf of LREP funds.
Prior to joining LREP in 1998, Mr. Moore was Executive Vice President and Chief Financial Officer of World Financial Properties, a private New York City based office property owner/operator. Prior to joining World Financial Properties, he worked with Olympia and York Properties as Senior Vice President, Finance and led the financial and restructuring efforts in the company’s $5 billion bankruptcy reorganization. Prior to joining Olympia and York, he worked as a real estate lender with the Sumitomo Bank in New York and Sovran Bank in Norfolk, Virginia. Mr. Moore is a member of various industry associations including Pension Real Estate Association, Executive Board of the American Senior Housing Association, and Assisted Living Federation of America. Mr. Moore received a B.A. from Yale University.

 

Randall J. Bufford is Founder, President and CEO of Trilogy Health Services, LLC. Mr. Bufford has over 25 years of experience in the healthcare industry, mainly in services for the elderly. During that time, Mr. Bufford has been involved with the operation, development and acquisition of over 250 healthcare facilities and related businesses. He has a proven track record of growing venture-backed businesses and providing strong returns to investors and lenders. Prior to starting Trilogy, Mr. Bufford served as Executive Vice President for Centennial HealthCare Corporation. During his tenure with Centennial, Mr. Bufford was responsible for the company’s business development and oversaw the operations of its ancillary service companies; which included home health, contract rehabilitation and pharmaceutical services. Before joining Centennial, Mr. Bufford was the President/CEO of Transitional Health Services of Louisville, Kentucky. Mr. Bufford founded Transitional in 1993 to acquire certain assets of the Cardinal Group, a Kentucky-based healthcare provider, in a management-led buyout. From 1987 to 1993, Mr. Bufford held various positions with The Cardinal Group, including Chief Financial Officer. He also has held positions with an HMO and started his career as an auditor with Arthur Young & Co., CPAs. Mr. Bufford has a BS in accounting from the University of Louisville.


Justin Brown officially joined Choice Capital Partners as Chief Executive Officer in October, 2008 after a career in commercial healthcare banking. During his time in banking, Brown was involved in financing a wide range of healthcare entities by implementing creative structures and syndicating large transactions in difficult credit markets. Brown successfully financed more than $350MM in transactions for various healthcare industry segments, including acute care hospitals, home health companies, large physician practice groups, specialty hospitals, and diversified seniors housing companies. Brown’s primary roles with Choice Capital Partners include implementing the acquisition strategy of the company, as well as managing the company’s financing and capital needs. Brown currently serves as Chairman of the Board of Directors for Big Brothers Big Sisters of Oklahoma City, board member of the Cystic Fibrosis Foundation, and the Chairman of the Oklahoma Heritage Association’s 2cB.
Choice Capital Partners is a private investment company focused on acquiring assets in the seniors housing industry. Primary target acquisitions are those in the assisted living and memory care segments, that are immediately accretive to earnings, and that provide attractive risk adjusted corporate cash-on-cash returns. Secondary opportunities include distressed properties, and developments in strategic markets. The company’s assets operate under the name of Esperanza Senior Living.

 

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