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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing | ||||||||
obligation of the registrant under any of the following provisions: | ||||||||
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Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||||||
FIVE STAR SENIOR LIVING INC. |
By: | /s/ Jeffrey C. Leer | |||||||
Jeffrey C. Leer | ||||||||
Executive Vice President, Chief Financial Officer and Treasurer |
![]() | 400 Centre Street Newton, Massachusetts 02458 | ||||
617-796-8387 | |||||
fivestarseniorliving.com | |||||
FOR IMMEDIATE RELEASE | |||||
As of and for the Three Months Ended | ||||||||||||||||||||
June 30, 2021 | March 31, 2021 | June 30, 2020 | ||||||||||||||||||
Senior Living Segment: | ||||||||||||||||||||
Spot Occupancy | ||||||||||||||||||||
Owned and Leased | 69.7 | % | 68.2 | % | 76.3 | % | ||||||||||||||
Managed | 71.3 | % | 70.2 | % | 77.5 | % | ||||||||||||||
Comparable Communities (1) | ||||||||||||||||||||
Spot Occupancy | ||||||||||||||||||||
Owned and Leased | 69.7 | % | 68.6 | % | 76.6 | % | ||||||||||||||
Managed | 73.3 | % | 73.2 | % | 81.1 | % | ||||||||||||||
Operating Margin (2) (3) | ||||||||||||||||||||
Owned and Leased | (16.2) | % | (13.3) | % | (1.2) | % | ||||||||||||||
Managed | 10.1 | % | 8.9 | % | 19.8 | % | ||||||||||||||
As of and for the Three Months Ended | ||||||||||||||||||||
June 30, 2021 | March 31, 2021 | June 30, 2020 | ||||||||||||||||||
Ageility: | ||||||||||||||||||||
Number of Clinics | ||||||||||||||||||||
Inpatient (3) | 10 | 37 | 40 | |||||||||||||||||
Outpatient | 218 | 215 | 206 | |||||||||||||||||
Number of Visits (in thousands) | ||||||||||||||||||||
Inpatient (3) | 36 | 72 | 84 | |||||||||||||||||
Outpatient | 156 | 149 | 139 | |||||||||||||||||
Comparable Clinics (4) | ||||||||||||||||||||
Average revenue per clinic | $ | 71 | $ | 68 | $ | 66 | ||||||||||||||
Operating margin (3) | 12.3 | % | 14.4 | % | 12.1 | % |
As of June 30, 2021 | Retained | |||||||||||||
Units (1) | Units (2)(3) | |||||||||||||
Independent living | 10,979 | 10,421 | ||||||||||||
Assisted living | 12,023 | 7,854 | ||||||||||||
Memory care | 3,247 | 1,874 | ||||||||||||
Skilled nursing | 1,484 | — | ||||||||||||
Total | 27,733 | 20,149 |
As of and for the Three Months Ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||
Communities | Units | Average Occupancy | Spot Occupancy | Community Revenues (1) | Management Fees (2) | |||||||||||||||||||||||||||||||||
Independent and assisted living communities (4) | 209 | 22,980 | 70.0 | % | 71.9 | % | $ | 149,998 | $ | 8,011 | ||||||||||||||||||||||||||||
Continuing care retirement communities (4) | 10 | 1,547 | 69.1 | % | 66.3 | % | 77,637 | 4,097 | ||||||||||||||||||||||||||||||
Skilled nursing facilities | 9 | 955 | 65.2 | % | 66.2 | % | 16,312 | 819 | ||||||||||||||||||||||||||||||
Total | 228 | 25,482 | 69.5 | % | 71.3 | % | $ | 243,947 | $ | 12,927 | ||||||||||||||||||||||||||||
Retained | ||||||||||||||||||||||||||||||||||||||
Communities | Units | Average Occupancy | Spot Occupancy | Community Revenues (1) | Management Fees (3) | |||||||||||||||||||||||||||||||||
Independent and assisted living communities (4) | 120 | 17,898 | 72.9 | % | 73.3 | % | $ | 159,014 | $ | 8,552 | ||||||||||||||||||||||||||||
Continuing care retirement communities | — | — | — | % | — | % | — | — | ||||||||||||||||||||||||||||||
Skilled nursing facilities | — | — | — | % | — | % | — | — | ||||||||||||||||||||||||||||||
Total | 120 | 17,898 | 72.9 | % | 73.3 | % | $ | 159,014 | $ | 8,552 |
As of and for the Three Months Ended June 30, 2021 | Retained | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of Clinics | Total Revenue (3) | Average Revenue per Clinic | Adjusted EBITDA Margin | Number of Clinics | Total Revenue (1)(3) | Average Revenue per Clinic | Adjusted EBITDA Margin | ||||||||||||||||||||||||||||||||||||||||||||||
Inpatient Clinics in DHC Communities | 10 | $ | 2,630 | $ | n/m | 4.8 | % | — | $ | — | $ | — | — | % | |||||||||||||||||||||||||||||||||||||||
Outpatient Clinics in DHC Communities | 91 | 8,354 | 92 | 13.3 | % | 91 | 8,354 | 92 | 13.3 | % | |||||||||||||||||||||||||||||||||||||||||||
Outpatient Clinics in Transition Communities(2) | 44 | 1,919 | 44 | 17.1 | % | 44 | 1,919 | 44 | 17.1 | % | |||||||||||||||||||||||||||||||||||||||||||
Total Clinics at DHC Communities | 145 | 12,903 | 89 | 12.1 | % | 135 | 10,273 | 76 | 14.0 | % | |||||||||||||||||||||||||||||||||||||||||||
Outpatient Clinics at Other Communities(4) | 83 | 4,242 | 51 | 8.5 | % | 83 | 4,242 | 51 | 8.5 | % | |||||||||||||||||||||||||||||||||||||||||||
Total Clinics | 228 | $ | 17,145 | $ | 75 | 11.2 | % | 218 | $ | 14,515 | $ | 67 | 12.4 | % |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
REVENUES | ||||||||||||||||||||||||||
Rehabilitation and wellness services | $ | 17,453 | $ | 19,268 | $ | 37,006 | $ | 40,652 | ||||||||||||||||||
Senior living | 16,378 | 19,590 | 33,435 | 40,587 | ||||||||||||||||||||||
Management fees | 12,927 | 15,705 | 26,777 | 32,756 | ||||||||||||||||||||||
Total management and operating revenues | 46,758 | 54,563 | 97,218 | 113,995 | ||||||||||||||||||||||
Reimbursed community-level costs incurred on behalf of managed communities | 195,271 | 224,104 | 408,431 | 456,120 | ||||||||||||||||||||||
Other reimbursed expenses | 16,592 | 6,417 | 22,072 | 12,414 | ||||||||||||||||||||||
Total revenues | 258,621 | 285,084 | 527,721 | 582,529 | ||||||||||||||||||||||
Other operating income | 2 | 1,499 | 7,795 | 1,499 | ||||||||||||||||||||||
OPERATING EXPENSES | ||||||||||||||||||||||||||
Rehabilitation and wellness services expenses | 15,668 | 16,144 | 31,878 | 33,645 | ||||||||||||||||||||||
Senior living wages and benefits | 9,896 | 9,705 | 21,909 | 19,505 | ||||||||||||||||||||||
Other senior living operating expenses | 8,968 | 9,016 | 15,234 | 12,954 | ||||||||||||||||||||||
Community-level costs incurred on behalf of managed communities | 195,271 | 224,104 | 408,431 | 456,120 | ||||||||||||||||||||||
General and administrative | 22,748 | 23,392 | 45,139 | 45,162 | ||||||||||||||||||||||
Restructuring expenses | 15,389 | 175 | 15,639 | 1,270 | ||||||||||||||||||||||
Depreciation and amortization | 2,989 | 2,703 | 5,929 | 5,404 | ||||||||||||||||||||||
Total operating expenses | 270,929 | 285,239 | 544,159 | 574,060 | ||||||||||||||||||||||
Operating (loss) income | (12,306) | 1,344 | (8,643) | 9,968 | ||||||||||||||||||||||
Interest, dividend and other income | 76 | 182 | 160 | 521 | ||||||||||||||||||||||
Interest and other expense | (409) | (409) | (872) | (791) | ||||||||||||||||||||||
Unrealized gain (loss) on equity investments | 398 | 867 | 533 | (595) | ||||||||||||||||||||||
Realized gain on sale of debt and equity investments | 97 | 116 | 193 | 95 | ||||||||||||||||||||||
Loss on termination of leases | — | — | — | (22,899) | ||||||||||||||||||||||
Income (loss) before income taxes | (12,144) | 2,100 | (8,629) | (13,701) | ||||||||||||||||||||||
(Provision) benefit for income taxes | (158) | 902 | (358) | (506) | ||||||||||||||||||||||
Net (loss) income | $ | (12,302) | $ | 3,002 | $ | (8,987) | $ | (14,207) | ||||||||||||||||||
Weighted average shares outstanding—basic | 31,552 | 31,460 | 31,541 | 31,454 | ||||||||||||||||||||||
Weighted average shares outstanding—diluted | 31,552 | 31,582 | 31,541 | 31,454 | ||||||||||||||||||||||
Net (loss) income per share—basic | $ | (0.39) | $ | 0.10 | $ | (0.28) | $ | (0.45) | ||||||||||||||||||
Net (loss) income per share—diluted | $ | (0.39) | $ | 0.10 | $ | (0.28) | $ | (0.45) |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Net (loss) income | $ | (12,302) | $ | 3,002 | $ | (8,987) | $ | (14,207) | ||||||||||||||||||
Add (less): | ||||||||||||||||||||||||||
Interest and other expense | 409 | 409 | 872 | 791 | ||||||||||||||||||||||
Interest, dividend and other income | (76) | (182) | (160) | (521) | ||||||||||||||||||||||
(Benefit) provision for income taxes | 158 | (902) | 358 | 506 | ||||||||||||||||||||||
Depreciation and amortization | 2,989 | 2,703 | 5,929 | 5,404 | ||||||||||||||||||||||
EBITDA | (8,822) | 5,030 | (1,988) | (8,027) | ||||||||||||||||||||||
Add (less): | ||||||||||||||||||||||||||
Severance (1) | — | 282 | — | 282 | ||||||||||||||||||||||
Litigation settlement (2) | — | 2,473 | — | 2,473 | ||||||||||||||||||||||
Unrealized gain (loss) on equity investments | (398) | (867) | (533) | 595 | ||||||||||||||||||||||
Loss on termination of leases (3) | — | — | — | 22,899 | ||||||||||||||||||||||
Net restructuring expenses (4) | 3,858 | 175 | 4,108 | 1,270 | ||||||||||||||||||||||
Long-lived asset impairment (5) | 890 | — | 890 | — | ||||||||||||||||||||||
Adjusted EBITDA | $ | (4,472) | $ | 7,093 | $ | 2,477 | $ | 19,492 |
June 30, | December 31, | |||||||||||||
2021 | 2020 | |||||||||||||
ASSETS | ||||||||||||||
Current assets: | ||||||||||||||
Cash and cash equivalents | $ | 99,270 | $ | 84,351 | ||||||||||
Restricted cash and cash equivalents | 23,707 | 23,877 | ||||||||||||
Accounts receivable, net of allowance | 9,036 | 9,104 | ||||||||||||
Due from related person | 80,369 | 96,357 | ||||||||||||
Debt and equity investments | 19,444 | 19,961 | ||||||||||||
Prepaid expenses and other current assets | 20,716 | 28,658 | ||||||||||||
Total current assets | 252,542 | 262,308 | ||||||||||||
Property and equipment, net | 157,636 | 159,251 | ||||||||||||
Operating lease right-of-use assets | 26,277 | 18,030 | ||||||||||||
Finance lease right-of-use assets | 3,929 | 4,493 | ||||||||||||
Restricted cash and cash equivalents | 1,234 | 1,369 | ||||||||||||
Restricted debt and equity investments | 3,945 | 4,788 | ||||||||||||
Equity investment of an investee, net | 11 | 11 | ||||||||||||
Other long-term assets | 6,103 | 3,956 | ||||||||||||
Total assets | $ | 451,677 | $ | 454,206 | ||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||
Current liabilities: | ||||||||||||||
Accounts payable | $ | 21,833 | $ | 23,454 | ||||||||||
Accrued expenses and other current liabilities | 32,231 | 41,843 | ||||||||||||
Accrued compensation and benefits | 80,720 | 70,543 | ||||||||||||
Accrued self-insurance obligations | 30,921 | 31,355 | ||||||||||||
Operating lease liabilities | 2,201 | 2,567 | ||||||||||||
Finance lease liabilities | 840 | 808 | ||||||||||||
Due to related persons | 4,637 | 6,585 | ||||||||||||
Mortgage note payable | 401 | 388 | ||||||||||||
Security deposits and current portion of continuing care contracts | 318 | 365 | ||||||||||||
Total current liabilities | 174,102 | 177,908 | ||||||||||||
Long-term liabilities: | ||||||||||||||
Accrued self-insurance obligations | 39,286 | 37,420 | ||||||||||||
Operating lease liabilities | 25,832 | 17,104 | ||||||||||||
Finance lease liabilities | 3,494 | 3,921 | ||||||||||||
Mortgage note payable | 6,579 | 6,783 | ||||||||||||
Other long-term liabilities | 410 | 538 | ||||||||||||
Total long-term liabilities | 75,601 | 65,766 | ||||||||||||
Shareholders’ equity: | ||||||||||||||
Common stock, par value $0.01 | 318 | 317 | ||||||||||||
Additional paid-in-capital | 460,737 | 460,038 | ||||||||||||
Accumulated deficit | (260,129) | (251,139) | ||||||||||||
Accumulated other comprehensive income | 1,048 | 1,316 | ||||||||||||
Total shareholders’ equity | 201,974 | 210,532 | ||||||||||||
Total liabilities and shareholders' equity | $ | 451,677 | $ | 454,206 |
Three Months Ended | ||||||||||||||||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||||||||||||||
2021 | 2021 | 2020 | 2020 | 2020 | ||||||||||||||||||||||||||||
Owned and Leased Communities | ||||||||||||||||||||||||||||||||
Independent and assisted living communities: | ||||||||||||||||||||||||||||||||
Revenues | $ | 16,378 | $ | 17,057 | $ | 17,903 | $ | 18,525 | $ | 19,590 | ||||||||||||||||||||||
Other operating income (1) | 2 | 7,774 | 1,715 | — | — | |||||||||||||||||||||||||||
Operating expenses | 21,012 | 20,414 | 21,181 | 19,661 | 20,165 | |||||||||||||||||||||||||||
Operating income (loss) | (4,632) | 4,417 | (1,563) | (1,136) | (575) | |||||||||||||||||||||||||||
Operating margin | (28.3) | % | 17.8 | % | (8.0) | % | (6.1) | % | (2.9) | % | ||||||||||||||||||||||
Number of communities (end of period) | 24 | 24 | 24 | 24 | 24 | |||||||||||||||||||||||||||
Number of living units (end of period) (2) | 2,251 | 2,302 | 2,302 | 2,312 | 2,312 | |||||||||||||||||||||||||||
Average occupancy | 68.1 | % | 68.3 | % | 71.5 | % | 74.7 | % | 78.3 | % | ||||||||||||||||||||||
Spot occupancy | 69.7 | % | 68.2 | % | 69.7 | % | 73.0 | % | 76.3 | % | ||||||||||||||||||||||
RevPAR (3) | $ | 2,425 | $ | 2,479 | $ | 2,596 | $ | 2,665 | $ | 2,813 | ||||||||||||||||||||||
RevPOR (4) | $ | 3,524 | $ | 3,630 | $ | 3,550 | $ | 3,492 | $ | 3,555 | ||||||||||||||||||||||
Managed Communities (5) | ||||||||||||||||||||||||||||||||
Management fees | $ | 12,927 | $ | 13,850 | $ | 14,822 | $ | 15,302 | $ | 15,705 | ||||||||||||||||||||||
Community-level revenues | 243,947 | 259,966 | 278,637 | 290,101 | 304,103 | |||||||||||||||||||||||||||
Other operating income (1) | 16,564 | 1,617 | 12,520 | — | 5,828 | |||||||||||||||||||||||||||
Community-level expenses (6) | 237,461 | 247,171 | 261,678 | 270,333 | 260,255 | |||||||||||||||||||||||||||
Community operating income | 23,050 | 14,412 | 29,479 | 19,768 | 49,676 | |||||||||||||||||||||||||||
Community operating margin | 8.8 | % | 5.5 | % | 10.1 | % | 6.8 | % | 16.0 | % | ||||||||||||||||||||||
Number of communities (end of period) | 228 | 228 | 228 | 239 | 241 | |||||||||||||||||||||||||||
Number of living units (end of period) (2) | 25,482 | 26,963 | 26,969 | 28,232 | 28,348 | |||||||||||||||||||||||||||
Average occupancy | 69.5 | % | 69.5 | % | 72.2 | % | 75.2 | % | 78.7 | % | ||||||||||||||||||||||
Spot occupancy | 71.3 | % | 70.2 | % | 70.8 | % | 74.0 | % | 77.5 | % | ||||||||||||||||||||||
RevPAR (3) | $ | 3,086 | $ | 3,213 | $ | 3,355 | $ | 3,420 | $ | 3,576 | ||||||||||||||||||||||
RevPOR (4) | $ | 4,389 | $ | 4,623 | $ | 4,543 | $ | 4,447 | $ | 4,496 |
Three Months Ended | ||||||||||||||||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||||||||||||||
2021 | 2021 | 2020 | 2020 | 2020 | ||||||||||||||||||||||||||||
Owned and Leased Communities (1): | ||||||||||||||||||||||||||||||||
Number of communities (end of period) | 23 | 23 | 23 | 23 | 23 | |||||||||||||||||||||||||||
Number of living units (end of period) (2) | 2,251 | 2,251 | 2,250 | 2,260 | 2,260 | |||||||||||||||||||||||||||
Average Occupancy | 68.0 | % | 68.6 | % | 72.1 | % | 75.1 | % | 78.6 | % | ||||||||||||||||||||||
Spot Occupancy | 69.7 | % | 68.6 | % | 70.0 | % | 73.5 | % | 76.6 | % | ||||||||||||||||||||||
RevPAR (3) | $ | 2,421 | $ | 2,480 | $ | 2,605 | $ | 2,668 | $ | 2,811 | ||||||||||||||||||||||
RevPOR (4) | $ | 3,520 | $ | 3,613 | $ | 3,534 | $ | 3,475 | $ | 3,538 | ||||||||||||||||||||||
Managed Communities (1)(5): | ||||||||||||||||||||||||||||||||
Number of communities (end of period) | 120 | 120 | 120 | 120 | 120 | |||||||||||||||||||||||||||
Number of living units (end of period) (2) | 17,898 | 17,906 | 17,910 | 17,929 | 17,929 | |||||||||||||||||||||||||||
Average Occupancy | 72.9 | % | 72.7 | % | 75.6 | % | 78.5 | % | 82.6 | % | ||||||||||||||||||||||
Spot Occupancy | 73.3 | % | 73.2 | % | 74.2 | % | 77.0 | % | 81.1 | % | ||||||||||||||||||||||
RevPAR (3) | $ | 2,961 | $ | 2,946 | $ | 3,054 | $ | 3,139 | $ | 3,301 | ||||||||||||||||||||||
RevPOR (4) | $ | 4,018 | $ | 4,051 | $ | 3,954 | $ | 3,942 | $ | 3,953 |
Three Months Ended | ||||||||||||||||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||||||||||||||
2021 | 2021 | 2020 | 2020 | 2020 | ||||||||||||||||||||||||||||
Rehabilitation and Wellness Services (1): | ||||||||||||||||||||||||||||||||
Revenues | $ | 17,453 | $ | 19,553 | $ | 20,256 | $ | 21,124 | $ | 19,268 | ||||||||||||||||||||||
Other operating income (2) | — | 19 | 221 | — | 1,499 | |||||||||||||||||||||||||||
Operating expenses (3) | 17,517 | 16,338 | 16,613 | 16,833 | 16,259 | |||||||||||||||||||||||||||
Operating (loss) income | (64) | 3,234 | 3,864 | 4,291 | 4,508 | |||||||||||||||||||||||||||
Operating margin | (0.4) | % | 16.5 | % | 18.9 | % | 20.3 | % | 21.7 | % | ||||||||||||||||||||||
Number of inpatient clinics (end of period) | 10 | 37 | 37 | 40 | 40 | |||||||||||||||||||||||||||
Number of outpatient clinics (end of period) | 218 | 215 | 207 | 209 | 206 |
Three Months Ended | ||||||||||||||||||||||||||||||||
June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||||||||||||||
2021 | 2021 | 2020 | 2020 | 2020 | ||||||||||||||||||||||||||||
Rehabilitation and Wellness Services (1): | ||||||||||||||||||||||||||||||||
Revenues | $ | 14,151 | $ | 13,457 | $ | 13,800 | $ | 14,493 | $ | 13,292 | ||||||||||||||||||||||
Other operating income (2) | — | 19 | 221 | — | 848 | |||||||||||||||||||||||||||
Operating expenses | 12,564 | 11,679 | 12,112 | 12,087 | 11,772 | |||||||||||||||||||||||||||
Operating income | 1,587 | 1,797 | 1,909 | 2,406 | 2,368 | |||||||||||||||||||||||||||
Operating margin | 11.2 | % | 13.3 | % | 13.6 | % | 16.6 | % | 16.7 | % | ||||||||||||||||||||||
Number of inpatient clinics (end of period) | — | — | — | — | — | |||||||||||||||||||||||||||
Number of outpatient clinics (end of period) | 195 | 195 | 195 | 195 | 195 |
No. | Community Name | State | Property Type (1) | Living Units | Senior Living Revenues (4) | Gross Carrying Value | Net Carrying Value | Date Acquired | Year Built or Most Recent Renovation | |||||||||||||||||||||||||||||||||||||||||||||||
1 | Morningside of Decatur (2) | Alabama | AL | 49 | $ | 271 | $ | 6,938 | $ | 3,736 | 11/19/2004 | 1999 | ||||||||||||||||||||||||||||||||||||||||||||
2 | Morningside of Auburn | Alabama | AL | 42 | 297 | 1,578 | 586 | 11/19/2004 | 1997 | |||||||||||||||||||||||||||||||||||||||||||||||
3 | The Palms of Fort Myers (2) | Florida | IL | 218 | 1,601 | 6,990 | 3,755 | 4/1/2002 | 1988 | |||||||||||||||||||||||||||||||||||||||||||||||
4 | Five Star Residences of Banta Pointe (3) | Indiana | AL | 121 | 664 | 10,575 | 6,232 | 9/29/2011 | 2006 | |||||||||||||||||||||||||||||||||||||||||||||||
5 | Five Star Residences of Fort Wayne (2) | Indiana | AL | 154 | 1,021 | 8,495 | 5,244 | 9/29/2011 | 1998 | |||||||||||||||||||||||||||||||||||||||||||||||
6 | Five Star Residences of Clearwater | Indiana | AL | 88 | 341 | 13,871 | 8,928 | 6/1/2011 | 1999 | |||||||||||||||||||||||||||||||||||||||||||||||
7 | Five Star Residences of Lafayette (2) | Indiana | AL | 109 | 532 | 11,144 | 7,144 | 6/1/2011 | 2000 | |||||||||||||||||||||||||||||||||||||||||||||||
8 | Five Star Residences of Noblesville (2) | Indiana | AL | 151 | 1,033 | 12,900 | 8,085 | 7/1/2011 | 2005 | |||||||||||||||||||||||||||||||||||||||||||||||
9 | The Villa at Riverwood (2) | Missouri | IL | 111 | 635 | 4,160 | 2,583 | 4/1/2002 | 1986 | |||||||||||||||||||||||||||||||||||||||||||||||
10 | Voorhees Senior Living (2) | New Jersey | AL | 104 | 892 | 19,004 | 13,062 | 7/1/2008 | 1999 | |||||||||||||||||||||||||||||||||||||||||||||||
11 | Washington Township Senior Living (2) | New Jersey | AL | 93 | 958 | 26,010 | 17,545 | 7/1/2008 | 1998 | |||||||||||||||||||||||||||||||||||||||||||||||
12 | Carriage House Senior Living | North Carolina | AL | 98 | 845 | 9,813 | 5,403 | 12/1/2008 | 1997 | |||||||||||||||||||||||||||||||||||||||||||||||
13 | Forest Heights Senior Living | North Carolina | AL | 111 | 710 | 16,085 | 10,806 | 12/1/2008 | 1998 | |||||||||||||||||||||||||||||||||||||||||||||||
14 | Fox Hollow Senior Living (2) | North Carolina | AL | 77 | 1,000 | 25,487 | 17,537 | 7/1/2000 | 1999 | |||||||||||||||||||||||||||||||||||||||||||||||
15 | Legacy Heights Senior Living (2) | North Carolina | AL | 116 | 1,012 | 7,048 | 3,195 | 12/1/2008 | 1997 | |||||||||||||||||||||||||||||||||||||||||||||||
16 | Morningside at Irving Park | North Carolina | AL | 91 | 746 | 3,731 | 1,675 | 11/19/2004 | 1997 | |||||||||||||||||||||||||||||||||||||||||||||||
17 | The Devon Senior Living | Pennsylvania | AL | 84 | 481 | 31,580 | 14,808 | 7/1/2008 | 1985 | |||||||||||||||||||||||||||||||||||||||||||||||
18 | The Legacy of Anderson | South Carolina | IL | 101 | 549 | 10,617 | 6,231 | 12/1/2008 | 2003 | |||||||||||||||||||||||||||||||||||||||||||||||
19 | Morningside of Springfield (2) | Tennessee | AL | 54 | 428 | 17,613 | 10,973 | 11/19/2004 | 1984 | |||||||||||||||||||||||||||||||||||||||||||||||
20 | Huntington Place | Wisconsin | AL | 127 | 826 | 2,355 | 1,514 | 7/15/2010 | 1999 | |||||||||||||||||||||||||||||||||||||||||||||||
Total | 2,099 | $ | 14,842 | $ | 245,994 | $ | 149,042 |
Contact: | |||||
Olivia Snyder, Manager, Investor Relations | |||||
(617) 796-8245 |
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