108nre 10264 - american seniors housing association · a4 | nrei august/september 2011 asha 50 2011...

201150

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NREI August /September 2011 | A3

This special section of National

Real Estate Investor features

the American Seniors Housing

Association’s (ASHA) 18th annual

compilation of the nation’s larg-

est seniors housing owners and

managers.

To ensure the accuracy of the 2011

ASHA 50, ASHA assembled a list of

prospective ranked companies from

every available source. A senior offi-

cer from each firm was asked to pro-

vide their current holdings as of June

1, 2011. Data was also used from out-

side sources deemed reliable, such as

public filings. Companies listed in the

ASHA 50 are not required to be mem-

bers of ASHA, although most firms

that appear in this year’s rankings are

ASHA members.

For purposes of this survey, seniors

housing units include independent liv-

ing units and assisted living units, as

well as memory care/Alzheimer’s units

and skilled nursing beds, which are

part of a larger retirement living com-

plex (such as a CCRC), and include

rental, entrance fee units designed and

operated exclusively for adults aged

55 years and over. Units where resi-

dents receive Section 8 or equivalent

rental subsidies, single-family homes,

hotel rooms, stand-alone skilled nurs-

ing beds, or mobile home units and

pads are not included. Additionally,

the ASHA 50 rankings do not include

properties where more than 30% of the

units are licensed for skilled nursing.

Respondents were requested not

to report properties owned indirectly

through ownership of shares in anoth-

er company and were instructed not to

include properties leased from other

owners for purposes of calculating the

ASHA 50 owners list.

The ASHA 50 was compiled and

analyzed by Krystalle Campo and

David Schless of ASHA, who express

their appreciation to the industry

leaders for their participation in this

annual effort.

In addition to the ASHA 50 rank-

ings and analysis of the results, this

section includes a listing of the lead-

ership, members and employees

of the American Seniors Housing

Association.

For those readers interested in more

information about the activities and

resources of the American Seniors

Housing Association, please visit our

website at: www.seniorshousing.org or

call (202) 237-0900.

CONTENTSp. A4 Top Owners Listing

p. A6 Top Managers Listing

p. A8 ASHA Overview and

Industry Assessment

p. A15 Portfolio Profile

p. A16 20th Anniversary

Tribute to ASHA

p. A22 Executive Committee

p. A22 Executive Board

p. A28 Advisory Committee

Listing

p. A30 Associate Members

Listing

p. A37 About ASHA

p. A40 ASHA Meetings

PICTURED ON COVER:

The Jefferson of Arlington, VA,

courtesy of Senior Housing

Properties TrustThe Forum at Deer Creek of Deerfield Beach, FL, courtesy of Senior Housing Properties Trust

A4 | NREI August /September 2011

ASHA 50

2011 2011 RANK COMPANY HEADQUARTERS CEO PROPERTIES UNITS

1 Ventas Healthcare Properties, Inc. Chicago, IL Debra Cafaro 650 58,469

2 HCP, Inc. Long Beach, CA James Flaherty 317 36,418

3 Health Care REIT, Inc. Toledo, OH George Chapman 345 31,407

4 Boston Capital Boston, MA Jack Manning 570 30,638

5 Holiday Retirement Salem, OR Jack Callison 251 29,636

6 Brookdale Senior Living, Inc. Brentwood, TN Bill Sheriff 201 20,891

7 Senior Housing Properties Trust Newton, MA David Hegarty 165 19,006

8 The Evangelical Lutheran Good Samaritan Society Sioux Falls, SD David Horazdovsky 128 16,289

9 Emeritus Senior Living Seattle, WA Granger Cobb 189 15,493

10 Blackstone Group New York, NY Stephen Schwarzman 125 10,285

11 Senior Lifestyle Corporation Chicago, IL Jon DeLuca 69 9,217

12 MCA Housing Partners Gardena, CA Michael Costa 94 8,759

13 ACTS Retirement-Life Communities, Inc. West Point, PA Marvin Mashner 23 8,278

14 Assisted Living Concepts, Inc. Menomonee Falls, WI Laurie Bebo 161 7,143

15 Chartwell Seniors Housing REIT Mississauga, ON Brent Binions 49 7,103

16 Presbyterian Homes & Services Roseville, MN Daniel Lindh 37 7,066

17 Merrill Gardens Seattle, WA Bill Pettit 50 6,732

18 Vi Chicago, IL Penny Pritzker 19 6,292

19 Century Park Associates Chattanooga, TN Bryan Preston 48 6,143

20 The Shelter Group/Brightview Senior Living Baltimore, MD Marilynn Duker 51 5,772

21 USA Properties Fund, Inc. Roseville, CA Geoffrey Brown 38 5,522

22 Walton Street Capital, LLC Chicago, IL Neil Bluhm 37 5,510

23 First Centrum, LLC Sterling, VA Mark Weshinskey 73 5,335

24 NRF Healthcare, LLC Bethesda, MD Donald Tomasso 78 5,163

25 Covenant Retirement Communities, Inc. Skokie, IL Rick Fisk 16 4,828

ASHA 50 OWNERS50 LARGEST U.S. SENIORS HOUSING OWNERS AS OF JUNE 1, 2011

2011


ASHA 50


26 LTC Properties, Inc. Westlake Village, CA Wendy Simpson 101 4,620

27 Herbert J. Sims & Company, Inc. Southport, CT William Sims 34 4,325

28 Erickson Living Management Baltimore, MD Alan Butler 7 4,231

29 Bonaventure Senior Living Salem, OR Kelley Hamilton 35 4,120

30 Benchmark Senior Living Wellesley, MA Thomas Grape 44 4,006

31 Senior Care, Inc. Louisville, KY Pat Mulloy 52 3,970

32 Lytle Enterprises Bellevue, WA Charles & Karen Lytle 25 3,840

33 Lifespace Communities, Inc. Des Moines, IA Scott Harrison 11 3,639

34 Capital Senior Living Corporation Dallas, TX Lawrence Cohen 25 3,501

35 National Church Residences Columbus, OH Thomas Slemmer 37 3,445

36 Presbyterian Senior Living Dillsburg, PA Stephen Proctor 24 3,349

37 Westminster Communities of Florida Orlando, FL Roger Stevens 9 3,195

38 Vintage Senior Living Newport Beach, CA Eric Davidson/Brian Flornes 23 3,127

39 Kisco Senior Living Carlsbad, CA Andrew Kohlberg 19 3,117

40 Cornerstone Affiliates Pleasanton, CA David Ferguson 11 2,917

41 American House Senior Living Communities Bloomfield Hills, MI J. Robert Gillette/

27 2,854 Dale Watchowsk

42 Pacific Retirement Services, Inc. Medford, OR Brian McLemore 9 2,825

43 Ohio Presbyterian Retirement Services Columbus, OH David Kaasa 11 2,750

44 Asbury Communities, Inc. Germantown, MD Edwin Thomas, III 5 2,749

45 Hawthorn Retirement Group, LLC Vancouver, WA Barton Colson 23 2,748

46 Springpoint Senior Living, Inc. Princeton, NJ Gary Puma 19 2,719

47 LCS Des Moines, IA Edward Kenny 12 2,661

48 Christian Homes, Inc. Lincoln, IL Tim Phillippe 14 2,660

49 Retirement Housing Foundation Long Beach, CA Laverne Joseph 14 2,653

50 The Kendal Corporation Kennett Square, PA John Diffey 13 2,649


ASHA 50


1 Brookdale Senior Living, Inc. Brentwood, TN Bill Sheriff 558 51,166

2 Emeritus Senior Living Seattle, WA Granger Cobb 478 42,600

3 Holiday Retirement Salem, OR Jack Callison 279 33,006

4 LCS Des Moines, IA Edward Kenny 99 29,365

5 Sunrise Senior Living, Inc. McLean, VA Mark Ordan 274 27,330

6 Five Star Quality Care Newton, MA Bruce Mackey, Jr. 192 20,792

7 Erickson Living Management Baltimore, MD Alan Butler 16 19,082

8 The Evangelical Lutheran Good Samaritan Society Sioux Falls, SD David Horazdovsky 135 16,656

9 Horizon Bay Retirement Living Tampa, FL Thilo Best 94 16,219

10 Atria Senior Living, Inc. Louisville, KY John Moore 124 14,465

11 Senior Lifestyle Corporation Chicago, IL Jon DeLuca 84 10,716

12 Assisted Living Concepts, Inc. Menomonee Falls, WI Laurie Bebo 211 9,305

13 Capital Senior Living Corporation Dallas, TX Lawrence Cohen 77 8,939

14 ACTS Retirement-Life Communities, Inc. West Point, PA Marvin Mashner 23 8,278

15 Merrill Gardens Seattle, WA Bill Pettit 56 7,681

16 Presbyterian Homes & Services Roseville, MN Daniel Lindh 39 7,173

17 Vi Chicago, IL Penny Pritzker 19 6,292

18 Century Park Associates Chattanooga, TN Bryan Preston 48 6,143

19 The Shelter Group/Brightview Senior Living Baltimore, MD Marilynn Duker 53 6,087

20 Greystone Communities, Inc. Irving, TX Paul Steinhoff, Jr. 23 6,072

21 One Eighty Seattle, WA Dan Madsen 37 5,875

22 USA Properties Fund, Inc. Roseville, CA Geoffrey Brown 37 5,405

23 Watermark Retirement Communities Tucson, AZ David Barnes 22 5,155

24 Integral Senior Living Carlsbad, CA Sue Farrow 49 4,897

25 First Centrum, LLC Sterling, VA Mark Weshinskey 47 4,682

50 LARGEST U.S. SENIORS HOUSING MANAGERS AS OF JUNE 1, 2011ASHA 50 MANAGERS2011


ASHA 50


26 Covenant Retirement Communities, Inc. Skokie, IL Rick Fisk 14 4,672

27 Bonaventure Senior Living Salem, OR Kelley Hamilton 35 4,120

28 National Church Residences Columbus, OH Thomas Slemmer 40 4,006

29 Benchmark Senior Living Wellesley, MA Thomas Grape 44 4,006

30 Senior Care, Inc. Louisville, KY Pat Mulloy 52 3,970

31 Pacific Retirement Services, Inc. Medford, OR Brian McLemore 12 3,794

32 Hearthstone Senior Services The Woodlands, TX Tim Hekker 32 3,792

33 Springpoint Senior Living, Inc. Princeton, NJ Gary Puma 27 3,733

34 Lifespace Communities, Inc. Des Moines, IA Scott Harrison 11 3,639

35 Frontier Management Durham, OR Greg Roderick 43 3,466

36 Vintage Senior Living Newport Beach, CA Eric Davidson/Brian Flornes 24 3,360

37 Presbyterian Senior Living Dillsburg, PA Stephen Proctor 24 3,349

38 Cornerstone Affiliates Pleasanton, CA David Ferguson 16 3,334

39 Westminster Communities of Florida Orlando, FL Roger Stevens 9 3,195

40 Aegis Living Redmond, WA Dwayne Clark 37 3,189

41 Kisco Senior Living Carlsbad, CA Andrew Kohlberg 19 3,117

42 Hawthorn Retirement Group, LLC Vancouver, WA Barton Colson 26 3,045

43 Senior Resource Group Solana Beach, CA Michael Grust 15 3,015

44 American House Senior Living Communities Bloomfield Hills, MI J. Robert Gillette/ 28 2,915 Dale Watchowski

45 Ohio Presbyterian Retirement Services Columbus, OH David Kaasa 12 2,790

46 Asbury Communities, Inc. Germantown, MD Edwin Thomas, III 5 2,749

47 Greystar Real Estate Partners Charleston, SC Bob Faith 13 2,727

48 Christian Homes, Inc. Lincoln, IL Timothy Phillippe 14 2,660

49 Retirement Housing Foundation Long Beach, CA Laverne Joseph 14 2,653

50 The Kendal Corporation Kennett Square, PA John Diffey 13 2,649


OVERVIEWThis year’s ASHA 50 survey was con-

ducted as of June 1, 2011, with several

large industry transactions ref lected

in this year’s rankings. The indus-

try continues to hold its own in a

challenging environment where the

single-family housing market remains

depressed and the economic recovery

is anything but robust. Construction

levels of new senior apartments,

independent living and assisted liv-

ing residences, Alzheimer’s/memory

care facilities, and continuing care

retirement communities (CCRCs)

remain very modest nationally, and

most of the companies represented

in this year’s ASHA 50 rankings are

well known to those who follow the

industry.

For more detailed operating

metrics on the seniors housing indus-

try, construction trend analysis,

and other practical resources about

private pay seniors housing, please

visit the secure ASHA bookstore at

www.seniorshousing.org.

201150

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A10 NREI August /September 2011

ASHA 50

ASHA 50 Survey HigHligHtS

Owners

The total number of units owned by

the 50 largest seniors housing own-

ers (450,065 units) increased by 7%

from the previous year’s ASHA 50

rankings. More significant increases

from 2010 to 2011 are also noted when

examining the holdings of the largest

10 and 25 owners, respectively (21%

and 9%). Publicly traded companies

represented around a quarter of the

largest 50 owners, but accounted for

nearly half (214,336 units) of the total

units reported.

The largest publicly traded owners

include: Ventas Healthcare Properties,

Inc. (58,469 units), HCP, Inc. (36,418

units), and Health Care REIT, Inc.

(31,407 units). Ventas increased its

seniors housing portfolio by 24,394

units when it closed on its $7.4 bil-

lion stock-for-stock transaction with

Nationwide Health Properties this

past summer. Earlier in the year,

Ventas had acquired 118 seniors hous-

ing communities (more than 12,000

units) owned by Atria Senior Living

Group at an acquisition cost of $3.1

billion.

Health Care REIT, Inc. has also

grown substantially, increasing its

seniors housing portfolio by 79% with

$6.9 billion in acquisitions and RIDEA

partnerships with several respected

regional operators including: Merrill

Gardens, Senior Star Living, Silverado

Senior Living, Benchmark Senior

Living and Brandywine Senior Living.

Other large publicly traded companies

with ownership of more than 15,000

units include: Brookdale Senior Living,

Inc. (20,891 units), Senior Housing

Properties Trust (19,006 units), and

Emeritus Senior Living (15,493 units).

The non-publicly-traded, for-profit

companies that own more than 7,500

units of seniors housing include:

Boston Capital (30,638 units), Holiday

Retirement (29,636 units), Senior

Lifestyle Corporation (9,217 units),

and MCA Housing Partners (8,759

units).

The Evangelical Lutheran Good

Samaritan Society is the largest not-

for-profit ASHA 50 owner with 16,289

AShA 50 PROfIlE 2011

Portfolio Size:

No. of Units Owned 450,065

No. of Units Managed 457,326

Minimum Entry Threshold:

No. of Units Owned 2,649

No. of Units Managed 2,649

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NREI August /September 2011

ASHA 50

units, followed by ACTS Retirement-

Life Communities, Inc. (8,278 units),

and Presbyterian Homes & Services

(7,066 units).

The minimum threshold for rank-

ing on the 2011 ASHA 50 list for own-

ers was 2,649 units.

Managers

The total number of units managed by

the largest 50 managers decreased by

1.5% from 2010 to 2011, from 464,053

units to 457,326 units. The manage-

ment portfolios of the largest 10 man-

agers also decreased by 1.5%, while

the managed portfolios of the largest

25 operators decreased by 2.5% from

the previous year.

Publicly traded companies repre-

sented 12% of the top ASHA 50 man-

agers, but accounted for over one-third

(160,132 units) of the reported units

managed. The largest publicly traded

managers include: Brookdale Senior

Living, Inc. (51,166 units), Emeritus

Senior Living (42,600 units), Sunrise

Senior Living, Inc. (27,330 units),


400 ,000

350,000

300,000

250,000

200,000

150,000

100,000

50,000

0

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Largest 10 Largest 25

CHART ONE:

seniors housing units oWneD by Largest 10 & Largest 25 firms: 1997 to 2011

For over 20 years, NIC has been committed to advancing the quality of Seniors Housing and Care by connecting capital with providers and facilitating informed, smart investment decisions.

• Dealmaking, networking and educational events

• Timely and actionable data with NIC MAP

• Groundbreaking research studies and unbiased analysis

Learn more at www.nic.org


ASHA 50

400 ,000

350,000

300,000

250,000

200,000

150,000

100,000

50,000

0

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Largest 10 Largest 25

CHART Two:

seniors housing units Managed by Largest 10 & Largest 25 firMs: 1997 to 2011

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ASHA 50

Five Star Quality Care (20,792 units),

Assisted Living Concepts, Inc. (9,305

units), and Capital Senior Living

Corporation (8,939 units).

For the third consecutive year,

Brookdale Senior Living, Inc. was the

largest manager, with 51,166 units.*

Emeritus Senior Living increased

its managed portfolio by 55% and is

now the second largest manager with

42,600 units. Holiday Retirement

remains the third largest manager

(33,006 units), and LCS moved up one

and is now the fourth largest manager

with 29,365 units.

Integral Senior Living posted

the greatest percentage increase in

units managed between 2010 and

2011 (77%), adding 2,130 units to its

managed portfolio. Emeritus Senior

Living increased its managed portfo-

lio by 55% adding just over 15,000

units in one year.

The non-publicly traded, for-

profit companies that manage more

than 7,500 units include: Holiday

Retirement (33,006 units), LCS

(29,365 units), Erickson Living

Management (19,082 units), Horizon

Bay Retirement Living (16,219), Atria

Senior Living, Inc. (14,465 units),

Senior Lifestyle Corporation (10,716

units), and Merrill Gardens (7,681

units). Senior Care, Inc. will also

manage more than 7,500 units with

the acquisition of 32 assisted liv-

ing communities from Hearthstone

Senior Services, announced in July.

The Evangelical Lutheran Good

Samaritan Society remains the largest

not-for-profit manager, with a man-

aged portfolio of 16,656 units. Other

large not-for-profit managers include:

ACTS Retirement-Life Communities,

Inc. (8,278 units), Presbyterian

Homes & Services (7,173 units), and

Covenant Retirement Communities,

Inc. (4,672 units).

The minimum threshold for inclu-

sion on the 2011 ASHA 50 list for

managers was 2,649 units.

*In a transaction expected to close

this year, the 16,219 units managed

by Horizon Bay Retirement Living are

expected to become part of Brookdale

Senior Living’s managed portfolio.

201150

PORTFOLIO PROFILEASHA 50

Owners

Ventas Healthcare Properties, Inc.

2011 Rank 1

2010 Rank 5

Positions Moved 4

% increase in # of units owned 164%

Health Care REIT, Inc.

2011 Rank 3

2010 Rank 8

Positions Moved 5

% increase in # of units owned 79.27%

Owners/Units■ Median Portfolio Size 4,724

■ Mean Portfolio Size 9,001

■ Portfolio Size of Largest Owner 58,469

■ Portfolio Size of Owner Ranked # 50 2,649

Managers/Units■ Median Portfolio Size 4,677

■ Mean Portfolio Size 9,147

■ Portfolio Size of Largest Manager 51,166

■ Portfolio Size of Manager Ranked # 50 2,649

LARGEST POSITIVE MOVEMENT

Managers

Integral Senior Living

2011 Rank 24

2010 Rank 43

Positions Moved 19

% increase in # of units managed 76.98%

Emeritus Senior Living

2011 Rank 2

2010 Rank 6

Positions Moved 4

% increase in # of units managed 54.81%


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NREI August /September 2011

ASHA 50

Early on, the seniors housing

industry was so small that its

leaders fit comfortably around

a conference room table for strategy

sessions. That image stands in sharp

contrast to today’s organization that

evolved from those first meetings as the

American Seniors Housing Association

marks its 20th anniversary.

The group has grown rapidly along

with an industry that has experienced

dramatic changes over the last two

decades. The seniors housing industry

today offers consumers a variety of liv-

ing arrangements.

The once widely accepted idea that

most elderly persons will eventually

live in a nursing home is fading away

as new models of seniors housing con-

tinue to emerge.

No longer just a mom-and-pop

industry, seniors housing has become

a major asset class in the commercial

real estate sector that attracts insti-

tutional investors and professional

operators alike. The industry now also

has a robust presence on Capitol Hill,

advocating policies for seniors and

their housing providers.

“ASHA has allowed the industry to

speak with one voice,” says Bill Kaplan,

chairman of Senior Lifestyle Corp.,

and ASHA chairman from 2002-2004.

EARLY Roots

In 1990, the National Multi Housing

Council (NMHC), an apartment

industry group, established a Seniors

Housing Committee. Seniors housing

executives wanted their own group

because even though the niche busi-

ness fit nicely with the apartment

sector, it also exhibited some unique

qualities.

In particular, seniors housing offered

its residents services, which presented a

distinct set of management issues.

David Schless was hired in 1991

to run the NMHC’s Seniors Housing

Committee. In 1992, the committee’s

name was changed to the American

Seniors Housing Association. “It was a

big advantage to have NMHC behind

us,” says Schless, who continues to

lead ASHA today as its president.

Schless also credits a handful of

seniors housing executives whose pio-

neering efforts were instrumental in

ASHA’s formation. “When I think of

ASHA, the word that comes to mind is

leadership,” he says.

A few important names from the

early days include Bill Elliott of Angeles

Housing Concepts, the founding

chairman of ASHA, and Bill Colson

of Holiday Retirement (see sidebar).

“We’ve had wonderfully talented lead-

ers,” says Schless, noting their dedica-

tion to the success of the industry.

In turn, ASHA executives past and

present are quick to praise Schless for

his organizational skills and guidance

over the last 20 years. “Dave has been

creative and adaptable,” notes Bill

Pettit, who is slated to become ASHA

chairman in 2012.

Pettit is president of Seattle-based

Merrill Gardens, an assisted living

operator. “David understands where

we’ve been and where we’re headed.”

ASHA’s original founders sought

to create something bigger than

themselves, says Noah Levy, man-

aging director of seniors housing at

Prudential Real Estate Investors, and

ASHA chairman from 2004-2006.

They were humble business opera-

tors who recognized that their mission


AsHA Hits Its Prime At age 20, the American Seniors Housing Association is hailed as a powerful industry advocate. By Jane Adler

ASHA Current exeCutive Committee: (left to right) David Schless, President; Ed Kenny, Chairman; Bill Pettit,

Vice-Chairman; John Rijos, Treasurer & Secretary; Ray Lewis, Chairman, SH PAC


ASHA 50

was to take care of seniors, adds Levy.

“They had a spirit of cooperation that

is still part of the organization.”

ASHA membership grew through-

out the 1990s from about 20 compa-

nies to more than 200, though the

emphasis was always on recruiting the

most active industry players.

ASHA focused on independent and

assisted living properties, and con-

tinuing care retirement communities.

(ASHA does not advocate for the nurs-

ing home industry.)

The future looked bright for the

industry, but challenges were still

ahead. The demographics of an aging

population favored seniors housing

in the long run, but the industry was

still fragmented. A building boom in

assisted living in the late 1990s that

fizzled also hurt the industry’s image.

Small operators dominated the

industry and best practices were not

yet standard. But ASHA members

realized the importance of delivering

a consistent message about seniors

housing to both consumers and policy

makers alike.

ASHA mAtureS

In 2001, ASHA split from NMHC. “We

needed to become our own group,”

recalls Kaplan of Senior Lifestyle

Corp. Most of the major companies

in the industry were part of the group

by then. And ASHA began holding its

own meetings with programs tailored

to the seniors market. “It was really

significant,” adds Kaplan.

ASHA was never designed to be

a large organization, however. The

organization’s Executive Board is

comprised predominantly of senior

officers from companies that develop,

own and/or operate the full spectrum

of seniors housing properties.

The association currently has about

350 members and holds three meet-

ings a year. But ASHA doesn’t operate

like a traditional trade organization.

The group doesn’t publish a magazine

or sponsor a trade show.

ASHA doesn’t have state affiliates

either. Instead, it gathers local infor-

mation for members on issues such as

state regulations. “We are always trying

to help our members,” says Schless.

Industry data has been a priority at

ASHA too, since so little information

was available on seniors housing at the

Retirement Companies of America extends its sincere congratulations to

Jim Moore of Moore Diversifi ed Services for his longstanding service to the

seniors housing industry and highly distinguished career achievements.

We also congratulate David Schless and the American Seniors Housing Association

on its 20th year anniversary and its commitment to serving the industry

with pride and distinction.

CONGRATULATIONS

outset of the organization.

In 1992, the group published its

first State of Seniors Housing report. It

included the findings of the first major

industry study of financial and opera-

tional performance measures, such as

occupancies and labor costs.

Now produced annually by a con-

sortium of seniors housing groups, the

report has been fine-tuned over the

years. It is a well-established resource

to help building managers and owners

understand the current seniors hous-

ing market. “ASHA provides operator-

driven research,” says Pettit of Merrill

Gardens. “That’s important.”

Two groups ASHA collaborates

with on research are the National

Investment Center for the Seniors

Housing & Care Industry (NIC) and

LeadingAge, which represents not-for-

profits.

A new study now under way, spear-

headed by the Center for Retirement

Research at Boston College, is closely

examining the affordability of seniors

housing. Prior research suggests that

the income level of seniors who live

in seniors housing is lower than most

people believe, demonstrating that the

housing model is more affordable than

many think.

AdvocAcy in Action

ASHA has long been a leading indus-

try voice on Capitol Hill. In 1993, Peg

Thompson of Thompson White &

Associates, a seniors housing provider,

testified on behalf of ASHA before the

House Ways & Means Committee.

ASHA sought clarification on whether

the costs of assisted living services were

eligible for the tax deduction available

for medical expenses.

ASHA also has established a Seniors

Housing Political Action Committee

(PAC) designed to support and edu-

cate candidates on issues relating to

the seniors housing and care indus-

tries. By 2008, contributions to the


ASHA 50

ASHA MileStoneS1990

The National Multi Housing Council (NMHC) establishes a Seniors Housing Committee.

1991 David Schless is hired to run NMHC’s

Seniors Housing Committee.

Bill Elliott of Angeles Housing Concepts is named first chairman of Seniors Housing Committee.

1992 The NMHC Seniors Housing Committee is renamed the American Seniors Housing Association (ASHA).

ASHA produces the first State of Seniors Housing report on industry performance.

1995 ASHA helps pass the Housing for Older Persons Act, altering

requirements of the Fair Housing Act for seniors housing.

1996 ASHA creates the Seniors Housing Political Action Committee

to advocate for the industry with policy makers.

2001 ASHA is spun off from NMHC.

2002 ASHA expands its annual rankings to include the

50 largest owners and managers, a strong indication the industry is blossoming.

2004 ASHA and the National Investment Center adopt uniform

definitions of key seniors housing categories for data collection efforts.

Contributions to the Seniors Housing PAC top $100,000 for the first time.

2006 ASHA leads successful legislative effort to make permanent

tax rules governing entrance fee deposits at continuing care communities.

2008 Seniors Housing PAC contributions top $500,000.

2011 ASHA conducts studies on adult children of seniors housing

residents, and on industry thought leaders. Both studies focus on the “next generation” of seniors housing.

PAC topped $500,000.

“ASHA’s most important job is to

help policy makers understand the

importance of the industry and the

role it plays in providing housing

for the elderly in the country,” says

Patricia Will, co-founder and presi-

dent at Belmont Village Senior Living

in Houston.

Will, who served as ASHA chairman

from 2008-2010, recently participated

in a U.S. Senate Aging Committee

roundtable on issues related to assisted

living quality and oversight.

A big ASHA victory came in 2006

with the passage of legislation that

made permanent tax rules govern-

ing entrance fee deposits at continu-

ing care retirement communities

(CCRCs). Previously, seniors who

moved to CCRCs were taxed on their

entrance fee deposit.

ASHA successfully argued that res-

idents of CCRCs were paying privately

for their own long-term care instead

of relying on government programs,

and therefore should not be penalized

with a tax.

Looking ahead, there are a num-

ber of issues facing the industry. For

example, what kind of housing will

baby boomers want? “The product will

change,” emphasizes Schless.

Another issue that must be resolved

is the future of the two government-

sponsored enterprises (GSEs), Fannie

Mae and Freddie Mac.

While they are most closely identi-

fied with the beleaguered single-family

housing market, the GSEs continue to

provide a vitally important source of

capital for the seniors housing indus-

try. And their loan portfolios have per-

formed quite well.

“We want some government

involvement in the secondary mort-

gage market to insure the availabil-

ity of credit at all times,” says Schless.

“That’s a big issue for us.”

Jane Adler is a Chicago-based writer.

ASHA 50

(Left to right) Noah Levy, ASHA Chairman 2004-2006;

Patricia Will, ASHA Chair 2008-2010; Bill Thomas ASHA Chairman 2006-2008

Bill Elliott, ASHA Chairman 1991-1994

(Left to right) David Schless, ASHA President 1991-Present; Mark Schulte,

ASHA Chairman 2000-2002; Phil Downey, ASHA Chairman 1998-2000;

Chris Coates, ASHA Chairman 1996-1998

PAST ASHA CHAirMEN


No name is tied to seniors hous-

ing more closely than that of

William E. Colson. Known

as Bill to his friends and colleagues,

Colson passed away in 2007 at the age of

66. But he left behind an important leg-

acy as an industry pioneer and pivotal

leader in the American Seniors Housing

Association (ASHA).

For many years, Colson led Holiday

Retirement Corp in Salem, Ore. The

company started more than 40 years

ago with a single senior living property.

Colson worked with his father Hugh,

and was joined by Dan Baty, who helped

run Holiday, and now is chairman of

Emeritus Corp.

In 2007, Holiday was sold to the

Fortress Investment Group for an esti-

mated $6.9 billion. At the time of the

sale, Holiday employed 10,000 people

and operated approximately 300 build-

ings for seniors.

Holiday specialized in indepen-

dent living communities. The projects,

designed to be affordable to a broad

swath of middle-class seniors, intro-

duced consumers to a new kind of hous-

ing alternative.

Seniors housing offered some servic-

es, as well as opportunities for social-

ization. “Bill really helped to educate

the public,” says Pat Kennedy, a former

Holiday executive and longtime friend.

Early on, Colson recognized the

importance of supporting the industry.

It could only grow and attract capital

through an organization like ASHA. “He

helped to shape the group,” says ASHA

President David Schless. Colson was a

regular on the CEO panel. “Everyone

wanted to hear what he had to say.”

Colson willingly shared his knowl-

edge about building operations with

other industry executives.

Colson liked to say, “You’ll never go

wrong by doing the right thing.” That

philosophy guided his business and

an industry, says Schless. Bill’s spirit

lives on today in ASHA, which created

the William E. Colson Distinguished

Leadership Award in 2008 in recogni-

tion of his profound impact on ASHA

and the seniors housing profession.

Ñ Jane Adler

The Legacy of Bill Colson

ASHA 50

James F. Sherman614.857.1664

Doug W. Harper614.857.1479

Donald L. Husi614.857.3120

Scott L. Moore614.857.3144

James D. Scribner203.332.7110

Christian R. Mauger614.857.1663

Mike Byrnes800.837.5100

Casey N. Moore614.857.1466

Jeffrey C. Ringwald214.237.2272

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Ed KennyPresident and CEO

Life Care Services

ASHA Chairman (2010-2012)

“In the past 20

years, ASHA has

provided a unique

forum for indus-

try leaders to work

together to advance

the industry. The

organization has been focused, well-

run, and highly effective in executing

its mission. I, and many others in our

profession, marvel at the efficiency of

the staff and the tremendous value of

ASHA membership. You can be sure

that ASHA will be there to help lead

the way for many years to come.”

Patricia WillCo-founder and President

Belmont Village Senior Living


“ASHA has done

a terrific job cre-

ating an aware-

ness of the seniors

housing industry.

ASHA advocates in

Washington, D.C. for our members,

for our employees, and for seniors.

ASHA also is an important source

of research. ASHA is conducting

research on what the next genera-

tion of seniors will want in housing.

We are going to be able to provide

creative and innovative housing solu-

tions for seniors.”

William F. ThomasOwner

Senior Star Living


“The determina-

tion to build a

polit ica l action

committee (PAC)

consistent with

the goals of ASHA

has been a cornerstone of the orga-

nization. Annual giving to the PAC

today is about $500,000 versus about

$40,000 just six years ago. We have a

way to address government policies

that are important to our country.”

Noah LevyManaging Director, Seniors Housing

Prudential Real Estate Investors


“The growth of

ASHA mirrors

the growth of

the industry. But

ASHA is a strong

voice not only for

the industry, but also for our resi-

dents. Caring for seniors is one of the

most rewarding jobs, but also one of

the most challenging. ASHA supports

that effort.”

Bill KaplanChairman

Senior Lifestyle Corp.


“ASHA gave the

industry a voice.

Before that we had

no representation.

We really needed

our own group,

and we’ve been able to make a differ-

ence. ASHA members are willing to

share information. I can pick up the

phone and call a building operator,

ask a question, and get help. It’s been

an unbelievable ride.”

Mark SchulteDirector, former Chairman and CEO

Brookdale Senior Living


“One of the big-

gest contributions

ASHA has made to

the industry is the

establishment and

benchmarking of

industry data. Prior to ASHA’s

State of Seniors Housing report, there

was no data collection in the seniors

housing industry. Lenders were left

scratching their heads on what com-

parable expenses for food, housekeep-

ing and real estate taxes might be.”

Sound Bites From ASHA Leaders Past and PresentExecutives reflect on the important role the organization has played for 20 years in the seniors housing industry.

ASHA 50


EXECUTIVE COMMITTEE

EXECUTIVE BOARD


John P. Rijos.Treasurer & Secretary

Brookdale Senior Living, Inc.Chicago, IL

William D. Pettit, Jr.Vice Chairman

Merrill Gardens, LLCSeattle, WA

Edward R. KennyChairman

LCSDes Moines, IA

David A. ReeveAdvent Group Bellevue, WA

David R. FordAegisLiving

Washington, DC

Douglas S. SchifferAllegro Senior Living, LLC

Atlanta, GA

John A. MooreAtria Senior Living Group

Louisville, KY

Robert T. Halpin, Jr. Aureus Group, LLC

Dallas, TX

Marc Thompson Bank of the WestSan Ramon, CA

Robert Ian EzerBaybridge Seniors

Housing Inc.Toronto, ON Canada

Patricia G. WillBelmont Village Senior

LivingHouston, TX

Thomas H. GrapeBenchmark Senior Living

Wellesley, MA

Joe EbyBickford Senior Living

Olathe, KS

Brenda J. Bacon Brandywine Senior Living

Mount Laurel, NJ

David D. CarlinerBrightview Senior

Living, LLCBaltimore, MD

W.E. Sheriff Brookdale Senior

Living, Inc.Brentwood, TN

Kenneth R. AssiranCapital Health

Group, LLCMedia, PA

Lawrence A. CohenCapital Senior Living

CorporationNew York, NY

William H. Elliott (1991-1994)

Jeffrey L. Beck (1994-1996)

Christopher J. Coates (1996-1998)

Philip Downey (1998-2000)

Mark J. Schulte (2000-2002)

William B. Kaplan (2002-2004)

Noah R. Levy (2004-2006)

William F. Thomas (2006-2008)

Patricia G. Will (2008-2010)

David SchlessPresident


Washington, DC

Raymond J. LewisSH PAC, ChairmanVentas Healthcare

Properties, Inc.Chicago, IL

Aron WillCBRE Capital Markets

Houston, TX

Matthew F. WhitlockCBRE Seniors Housing

Salem, MA

Brent BinionsChartwell Seniors

Housing REITMississauga, ON Canada

Kathryn Burton-GrayCIT Healthcare

Irvine, CA

Douglas KoreyContemporary Healthcare

Capital, LLCShrewsbury, NJ

ASHA

Former Chairmen

ASHAEXECUTIVE BOARD

Alan ButlerErickson LivingBaltimore, MD

Christopher E. HonnFannie MaeChicago, IL

Bruce J. Mackey, Jr.Five Star Quality

Care, Inc.Newton, MA

Arnold M. WhitmanFormation Capital, LLC

Alpharetta, GA

Luke ClassenFranklin Park Management

San Antonio, TX

Karen M. AndersonCordia Senior Living

Charleston, MA

Gary D. StaatsThe Covenant Group

Fort Worth, TX

Peter E. PicketteCS Capital Advisors, LLC

New York, NY

Scott StewartCSH, LLC

Washington, DC

Phillip M. Anderson, Jr.Cushman & Wakefield Sonnenblick Goldman

Winter Park, FL

Philip A. BrooksCWCapital

Richmond, VA

Richard J. HutchinsonDiscovery

Management GroupWinslow, ME

Susan V. KayserDuane Morris, LLP

New York, NY

Melanie WerdelEmeritus Senior Living

Seattle, WA

Elmo Robinson, Jr.E-Quest

Management, LLCFriendswood, TX

Ryan [email protected]

Chad Lavender214.420.3105

[email protected]

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Charles Bissell972.960.1222 x102

[email protected]

Brian O’Boyle214.420.3113

[email protected]

EXECUTIVE BOARDASHA

Paul A. GordonHanson Bridgett, LLP

San Francisco, CA

Patrick F. KennedyHawthorn

Retirement GroupSeattle, WA

Paul GallagherHCP, Inc.

Long Beach, CA

Charles J. Herman, Jr.Health Care REIT, Inc.

Toledo, OH

Alan C. PlushHealthTrust, LLC

Sarasota, FL

Steven SchmidtFreddie MacChicago, IL

Kristin GannonGoldman Sachs & Co.

San Francisco, CA

Eugene W. GraceGrace Management, Inc.

Minneapolis, MN

Richard A. ThomasGrandbridge Real Estate

Capital, LLCAtlanta, GA

Peg S. Larson Greystone Servicing

Corporation, Inc.Atlanta, GA

William B. SimsHerbert J. Sims

& Co., Inc.Fairfield, CT

Jack R. Callison, Jr.Holiday Retirement

Salem, OR

Patrick M. Hurst Houlihan Lokey

Chicago, IL

Rod Turner HTG Consultants, LLC

New Castle, DE

E. Andrew IsaksonIsakson Living

Atlanta, GA

Bradley E. DubinKandu Capital, LLC /

Bloomfield Senior LivingChicago, IL

Angela G. Mago KeyBank Real

Estate Capital Cleveland, OH

Andrew S. KohlbergKisco Senior Living, LLC

Carlsbad, CAOrlando, FL

Timothy BuchananLegend Senior Living

Wichita, KS

Leonard LucasLove Funding Corporation

Boston, MA

Wendy SimpsonLTC Properties, Inc.Westlake Village, CA

Mary G. LearyMather LifeWays

Evanston, IL

Terry HowardMBK Senior Living

Irvine, CA

Kevin McMeenMidCap Financial, LLC

Chicago, IL

Philip J. CampMorgan KeeganNew York, NY

Justin HutchensNational Health Investors, Inc.

Murfreesboro, TN

Donald C. TomassoNRF HealthcareBethesda, MD

William P. KauffmanOak Grove Capital

Chicago, IL

Joseph G. LinOakmont Senior

Living, LLCSanta Rosa, CA

Dan B. Madsen One EightySeattle, WA


ASHAEXECUTIVE BOARD

James F. ShermanRed Capital Group, LLC

Columbus, OH

Jeff DickersonRidge Care, Inc.Kernersville, NC

David ReisSenior Care

Development, LLCHarrison, NY

Pat MulloySenior Care, Inc.

Louisville, KY

Jerome E. FinisPathway Senior

Living, LLCDes Plaines, IL

Sean HuntsmanPNC Real Estate

Bend, OR

Jay L. HicksPrime Care

Properties, LLCIndianapolis, IN

Margaret A. Wylde ProMatura Group, LLC

Oxford, MS

Noah R. LevyPrudential Real Estate InvestorsParsippany, NJ

Sharon Grambow Roskamp Sun Health

Management & Development Surprise, AZ

James T. HandsSalem Equity

Dallas, TX

Mel GamzonSenior Housing

Investment Advisors Fort Lauderdale, FL

David J. HegartySenior Housing Properties Trust

Newton, MA

William B. KaplanSenior Lifestyle

CorporationChicago, IL

Donald O. Thompson, Jr.Senior Living

Communities, LLCCharlotte, NC


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EXECUTIVE BOARDASHA

Randal J. RichardsonVi

Chicago, IL

Eric DavidsonVintage Senior Living Newport Beach, CA

Daniel Biron Walker & Dunlop

New York, NY

Brian Landrum Walton Street Capital, LLCChicago, IL

David Barnes Watermark Retirement

Communities Tucson, AZ

Steven L. VickSignature Senior Living

Irving, TX

Loren B. ShookSilverado Senior Living

Irvine, CA

Jeffrey D. KrausSpectrum Retirement

Communities, LLCDenver, CO

Scott CousinoStifel, Nicolaus &

Company, Inc.Baltimore, MD

James A. StroudStroud Properties, Inc.

Dallas, TX

Michael S. GrustSenior Resource

Group, LLCSolana Beach, CA

Robert D. ThomasSenior Star Living

Tulsa, OK

William F. Thomas Senior Star Living

Tulsa, OK

Bradley FuquaSeniorHousingNet®,

part of Move™Scottsdale, AZ

Sloan BentleySeniority, Inc.

Pleasanton, CA

Greg E. Schulte Weitz Senior Living

Des Moines, IA

Catherine Voreyer Wells Fargo Bank

Irvine, CA

William T. MulliganZiegler Investment

BankingMilwaukee, WI

Greg Neeb Sunrise Senior Living, Inc.

McLean, VA

Randall J. BuffordTrilogy Health Services, LLC Louisville, KY

Gilbert TillURBEK

Seattle, WA

Marcus LussierValuation &

Information GroupCulver City, CA

Lisa WidmierVantAge Pointe Capital

Management & Advisory, Inc.Del Mar, CA


James SeymourGE Capital, Healthcare

Financial ServicesChicago, IL

Not pictured:

Brian PollardLancaster Pollard

Columbus, OH

Melvin W. WarrenThe LaSalle Group

Gulf Breeze, FL

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2011 ADVISORY COMMITTEEAMERICAN SENIORS HOUSING ASSOCIATION

A.L. Wizard - A Division

of RealPage

Rose Lochmann

San Diego, CA

Access Senior Housing

Lee D. Haris

San Francisco, CA

AEW Capital

Management, LP

Anthony C. Crooks

Boston, MA

American House Senior

Living Residences

Robert W. Gillette

Bloomfield Hills, MI

ARA National Seniors

Housing Group

Jeffrey Pritchard

Dallas, TX

Arcapita, Inc.

C. MacLaine Kenan

Atlanta, GA

The Asbury Group Marketing

Meredith Boyle

Germantown, MD

be.group

John H. Cochrane, III

Glendale, CA

Care Investment Trust, Inc.

Salvatore Riso

New York, NY

CoastWood Seniors

Housing Partners

Daniel A. Decker

Pebble Beach, CA

Continuing Life

Communities

Richard D. Aschenbrenner

Carlsbad, CA

Covenant Retirement

Communities

Rick K. Fisk

Skokie, IL

Irwin Partners Architects

Gregory R. Irwin

Costa Mesa, CA

JEA Senior Living

Jerry Erwin

Vancouver, WA

JER Partners

Frank J. Small

McLean, VA

KMF Senior Housing

Investors, LLC

Philip L. Van Syckle

Chicago, IL

Kwalu

Michael Zusman

Atlanta, GA

Lend Lease, Inc.

John R. Nicolay

Charlotte, NC

Lifespace Communities, Inc.

Scott Harrison

Des Moines, IA

Lincoln Healthcare Events

Scott Brown

Norwalk, CT

Marcus & Millichap

Gary R. Lucas

San Francisco, CA

Masterpiece Living, LLC

Lawrence L. Landry

Palm Beach Gardens, FL

Moore Diversified

Services, Inc.

James A. Moore

Fort Worth, TX

Morrison Senior Dining

Kevin Svagdis

Atlanta, GA

Moving Station

Patricia Saulig

Chicago, IL

Deutsche Bank

Berkshire Mortgage

Steve Wendel

Boston, MA

Direct Supply, Inc.

W. Bradford Klitsch

Milwaukee, WI

entegra Procurement

Services

C. Nathan Wannall

Groton, NY

Era Living

Eli J. Almo

Seattle, WA

Front Porch

Gary Wheeler

Burbank, CA

G5 Search Marketing, Inc.

Rob Day

Bend, OR

GlynnDevins Advertising

& Marketing

James T. Glynn

Overland Park, KS

Greystone Communities, Inc.

Michael B. Lanahan

Irving, TX

Harbor Retirement

Associates, LLC

Timothy S. Smick

Vero Beach, FL

Integra Realty Resources

Charles A. Bissell

Richardson, TX

Integral Senior Living

Management Group

Sue Farrow

Carlsbad, CA

Integrated Development

Group, LLC

Matthew K. Phillips

Northbrook, IL

My Innerview

Jessica McMullen

Lincoln, NE

National Multi Housing Council

Douglas M. Bibby

Washington, DC

National Real Estate Advisors

Kathryn A. Barnes

Washington, DC

New Perspective Senior Living

Ryan Novaczyk

Minneapolis, MN

NorthMarq Capital

Gordon P. Mickelson

Centennial, CO

One on One

David A. Smith

Saint Louis, MO

Paradigm Senior Living

Lee E. Cory

Portland, OR

Perkins + Will Architects

Paul E. Donaldson

Dallas, TX

Principle Valuation, LLC

Timothy H. Baker

Chicago, IL

Province Valuation Group

Carol J. Reynolds

Sandy Springs, GA

Prudential Mortgage

Capital Company

Thomas Goodsite

Atlanta, GA

Royal Senior Care, LLC

Roni Soffer

North Miami Beach, FL


2011 ADVISORY COMMITTEEAMERICAN SENIORS HOUSING ASSOCIATION

Senior Living Investment

Brokerage, Inc.

Grant A. Kief

Glen Ellyn, IL

Senior Services

of America, LLC

D. Lee Field

Tacoma, WA

The Shuster Companies

Jason Shuster

St. Paul, MN

SilverCrest Properties, LLC

Michael F. Gould

St. Louis Park, MN

Sodexo Senior Services

William S. Cephus

Murphy, TX

Stanley Healthcare Solutions

Chris Beekman

Lincoln, NE

Sunshine Retirement Living

May Hasso

Newport Beach, CA

Surface Logic

Andy Baxter

Jessup, MD

THOMCO

Monica Clark

Kennesaw, GA

Top Rock, LLC

Ralph J. Nagel

Denver, CO

Ungaretti & Harris

John J. Durso

Chicago, IL

Virtual Care Provider, Inc.

Matthew Rehmann

Milwaukee, WI

Volunteers of America

Michael King

Alexandria, VA

The Walsh Group

Eric Larsen

Chicago, IL

Waltonwood Senior Living

Earl C. Parker

Cary, NC

Westmont Living, Inc

Andrew S. Plant

La Jolla, CA

Willis

John M. Atkinson

Chicago, IL

Yardi Systems, Inc.

Laura Atallah

Goleta, CA

zumBrunnen, Inc.

John H. zumBrunnen

Atlanta, GA


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12 Oaks Senior Living

Richard K. Blaylock

Dallas, TX

AGM Financial Services, Inc.

Tamera S. Gundersen

Baltimore, MD

Alden Realty Services, Inc.

Randi Schlossberg-Schullo

Chicago, IL

Allegro Residences

Francois Courtois

Montreal, QC

Altus Group

Stephen Hiscox

Toronto, ON

Ambrose Capital Group, Inc.

Donald Ambrose

San Diego, CA

Americare

Clay Crosson

Sikeston, MO

The Arbor Company

Ellison Thomas

Atlanta, GA

Arnall Golden Gregory, LLP

Hedy S. Rubinger

Atlanta, GA

Artemis Real Estate Partners

Serge Learsy

Chevy Chase, MD

Atlantic Shores Cooperative Association

Eden B. Jones

Virginia Beach, VA

Atlantic Shores Realty, LLC

William D. Bell

Chicago, IL

Avamere Health Services

Richard Dillon

Wilsonville, OR

Balfour Senior Living, LLC

Michael K. Schonbrun

Louisville, CO

Bank of America Merrill Lynch

Gray W. Hampton

New York, NY

Barrington Venture Holding

Company, LLC

Thomas S. Herb

Barrington, IL

BBVA Compass

Chris Cain

Dallas, TX

Becker Properties

Thomas Becker

Medford, OR

The Blackstone Group

David Roth

New York, NY

BMA Management, Ltd.

Blair Minton

Bradley, IL

BMO Capital Markets

Gregory Steele

Chicago, IL

B'nai B'rith International

Mark D. Olshan

Washington, DC

Bridgewood Property

Company

James D. Gray

Houston, TX

Brooks Adam Research

Robert T. Adams, Sr.

Richmond, VA

Cambridge Realty

Capital Companies

Jeffrey A. Davis

Chicago, IL

CapitalSource

Steven L. Gilleland

Atlanta, GA

Carefree Senior Living

Ken L. Templeton

Las Vegas, NV

Caring Communities Shared

Services, Ltd.

G. James Caldwell

Libertyville, IL

Carlton Senior Living, LLC

Philip B. Scott

Martinez, CA

Cascade Living Group, Inc.

Thomas E. Stanley

Bothell, WA

Chancellor Health

Partners, Inc.

Benjamin J. Byers

Columbus, OH

Charles Hall Construction, LLC

Charles Hall, IV

Willowbrook, IL

Christenson Advisors, LLC

Jonathan A. Boba

Oakbrook Terrace, IL

Christopher Place Senior

Communities, LLC

Charles Maulbetsch

Ann Arbor, MI

CHRISTUS Health

Linda McClung

Irving, TX

CLW Realty Group, Inc.

Allen McMurtry, Jr.

Tampa, FL

Colliers International

Mark Silver

New York, NY

Commonwealth Assisted

Living

Richard Brewer

Charlottesville, VA

The Corky McMillin Companies

Scott McFerran

San Diego, CA

Cottage Senior Living

W. Clifford White, III

Huntsville, AL

CRL Senior Living

Communities

Ariel Weinberger

Chicago, IL

Cushman & Wakefield, Inc.

Alina Schoepfer

Stamford, CT

Dial Communities, Inc.

Joel M. Katleman

San Antonio, TX

Dixon Hughes Goodman, LLP

Keith Seeloff

Atlanta, GA

Dominion Partners, LLC

Michael Mays

Birmingham, AL

Dougherty Mortgage, LLC

Jonathan P. Banyard

Minneapolis, MN

Douglas Pancake Architects

Douglas Pancake

Newport Beach, CA

DPR Construction

Scott Carriveau

Pasadena, CA

Elder Care Alliance

Jesse Jantzen

Alameda, CA

Eldercare Management

Services

Mark W. Lierman

Saint Charles, MO



Elderlife Financial Services

Elias P. Papasavvas

Bethesda, MD

Encore Senior Living, LLC

Peter Muhlbach

Milwaukie, OR

The Erickson School / UMBC

Kevin D. Heffner

Catonsville, MD

Essex Corporation

Kent Braasch

Omaha, NE

The Evangelical Lutheran

Good Samaritan Society

Dustin Scholz

Sioux Falls, SD

First Centrum, LLC

Mark L. Weshinskey

Sterling, VA

Foley & Lardner, LLP

Michael A. Okaty

Orlando, FL

FPL Advisory Group

William J. Ferguson

Chicago, IL

Franciscan Sisters of Chicago

Service Corporation

Stephen J. Bardoczi

Homewood, IL

Fremont Realty Capital

Max G. Newland

New York, NY

Gencare, Inc.

Leon Grundstein

Seattle, WA

Generations, LLC

Chip Gabriel

Portland, OR

Green Street Advisors

Jeff Theiler

Newport Beach, CA

Greenbrier Development, LLC

Mike Gilliam

Dallas, TX

Greystar Real Estate Partners

Kevin Merchant

Phoenix, AZ

Grubb & Ellis Healthcare

REIT II, Inc.

Danny Prosky

Santa Ana, CA

Hamilton Insurance Agency

Jackie Moyer

Fairfax, VA

Health Care Group

W. Major Chance

San Diego, CA

Heffernan Insurance Brokers

M. Brant Watson

Walnut Creek, CA

HHHunt Properties

James R. King

Blacksburg, VA

Hinman Straub P.C.

Jonathan Federman

Albany, NY

Holladay Corporation

Frances Manderscheid

Washington, DC

Hollenbach Development

Group, LLC

W. James Hollenbach

Boyertown, PA

The Hollinger Group

Brad E. Hollinger

Mechanicsburg, PA

Howard & Associates

Evelyn R. Howard

Bethesda, MD

Immanuel Health Systems

Eric N. Gurley

Omaha, NE

Irving Levin Associates, Inc.

Stephen M. Monroe

Norwalk, CT

Javelin Capital Partners, LLC

Kurt Read

Dallas, TX

John L. Wortham & Son, LP

David B. Martin

Houston, TX

JP Morgan

Hilary G. Bullard

New York, NY

Justus Rental Properties, Inc.

Scott M. Jeske

Indianapolis, IN


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Kaplan Development Group

Glenn Kaplan

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Kinetic Capital Company, Ltd.

Tom Timmons

Vancouver, BC

Koelsch Senior Communities

Aaron Koelsch

Olympia, WA

Landmark Senior Living

Clifford Boyle

Braintree, MA

Lane Powell PC

Barbara J. Duffy

Seattle, WA

Lewis & Clark LTC RRG, Inc.

Nadeene Wood-Clater

Alpharetta, GA

Martino & Binzer, Inc.

David Martino

Farmington, CT

Metroplex-Active Life Group

Sheldon L. Baskin

Chicago, IL

Milestone Retirement Communities, LLC

Paul W. Dendy

Vancouver, WA

Moore Stephens Lovelace, P.A.

Ronald R. Shuck

Clearwater, FL

Mosaic Design Studio

Greg Cini

Columbus, OH

Murtha Cullina, LLP

Martha Everett Meng

New Haven, CT

Lockton Companies

Derek Cady

Denver, CO

M&T Bank

Sharon O'Brien

Washington, DC

M&T Realty Capital Corporation

Robert J. Ryan

Buffalo, NY

M3 Capital Partners

Thaddeus R. Wilson

Chicago, IL

Mainstreet

Paul E. Turner

Cicero, IN

The Mann Group, Inc.

Charles H. Mann, III

Atlanta, GA

National Investment Center

Robert G. Kramer

Annapolis, MD

Nigro Group, LLC

Frank J. Nigro, III

Albany, NY

Nixon Peabody, LLP

Allen A. Lynch, II

Boston, MA

NorSouth Companies

David H. Dixon

Atlanta, GA

Pacifica Companies

Adam M. Bandel

San Diego, CA

Paradise Retirement Hawaii

Christian Sieber

Hilo, HI

Parc Communities

Roy Dickson

Atlanta, GA

The Plaza Companies

Sharon Harper

Peoria, AZ

Premier Senior Living, LLC

Wayne Kaplan

Uniondale, NY

Premiera Care, LLC

Donald Petersen

Oakdale, CA

Prestige Senior Living

Jason Delamarter

Vancouver, WA

Primrose Retirement

Communities

Brian Morgan

Aberdeen, SD


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Propel Insurance

Michael Ferreira

Tacoma, WA

Providence Life Services

Richard Schutt

Tinley Park, IL

Ray Stone, Inc.

David W. Crump

Sacramento, CA

RBC Capital Markets

Corporation

Frank Morgan

Nashville, TN

REDMARK Economics for Real

Estate Development and

Market Research

Harvey Singer

Annapolis, MD

Resort Lifestyle Communities

Breck Collingsworth

Lincoln, NE

Retirement Companies

of America, LLC

Charles S. Trammell

Memphis, TN

Retirement Housing

Foundation

Dr. Laverne R. Joseph

Long Beach, CA

Revenue Leverage, LLC

Jack McCarthy

Holliston, MA

Rittenhouse Senior Living

Edward T. Yarish

Wayne, PA

Riverwood Retirement

Management, Inc.

Jerry C. Jaques

Orange City, FL

The Roche Associates, Inc.

Joseph L. Roche

Wilbraham, MA

Stonegate Senior Living, LLC

John F. Taylor

Lewisville, TX

Stratford Companies

Wendy Horn

Indianapolis, IN

Symphony Senior Living, Inc.

Lisa M. Brush

Toronto, ON

three Architecture

Rockland A. Berg

Dallas, TX

Trinity Senior Living

Communities

Kelly Gasior

Livonia, MI

Tucson Estates Property

Owners Association

John Hagan

Tucson, AZ

Unified Property Group

Steve Falcone

Brighton, MI

United Adult Ministries

Douglas Kurtz

Flushing, NY

UPMC Senior Communities

Deborah S. Brodine

Pittsburgh, PA

USA Properties Fund, Inc.

Geoffrey C. Brown

Roseville, CA

Van Dyk Health Care

Robert Van Dyk

Ridgewood, NJ

The Vinca Group, LLC

Alice Katz

Owings Mills, MD

Roskamp & Patterson

Management Company

Steven Roskamp

Sarasota, FL

Ryan Companies US, Inc.

Daniel Walsh

Naperville, IL

Senior Living Residences, LLC

Robert F. Larkin

Boston, MA

Senior Living Valuation

Services, Inc.

Michael G. Boehm

San Francisco, CA

SL Residential, Inc.

Greg Sadick

Irvine, CA

Smith/Packett Med-Com, LLC

Stephen M. McGee

Birmingham, AL

SpawGlass Construction Corp.

John English

Houston, TX

Spectrum Properties, LC

Brian E. Bergersen

Dallas, TX

Spring Hills Senior

Communities

Alexander C. Markowits

Edison, NJ

Springpoint Senior Living

Gary T. Puma

Princeton, NJ

The Springs Living

F. Fee Stubblefield, Jr.

Mcminnville, OR

St. Barnabas Health System

James D. Turco

Gibsonia, PA

St. Therese Southwest

Michael Pagh

Minneapolis, MN

Waller, Lansden, Dortch

& Davis, LLP

Jeffrey A. Calk

Nashville, TN

WDG Architecture, PLLC

David Banta

Washington, DC

Weis Builders, Inc.

Peter Worthington

Minneapolis, MN

Western Seniors Housing, Inc.

Anthony Sandoval

Irvine, CA

Westminster Communities of Florida

Roger Stevens

Orlando, FL

Williams Mullen

Kiki E. Carleton

Virginia Beach, VA

Willow Valley Retirement Management, Inc.

John G. Swanson

Willow Street, PA

Windsor Healthcare Equities, LLC

Leigh T. Howe

Baltimore, MD


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©2011

ABOUT ASHA

The American Seniors Housing

Association (ASHA) was cre-

ated in 1991 by a number of

leading seniors housing providers

seeking an effective voice on Capitol

Hill. Today, ASHAÕs membership has

grown to approximately 350 compa-

nies that develop, operate, and finance

the entire spectrum of seniors hous-

ing. ASHAÕs membership owns and/or

manages more than 600,000 units of

senior apartments, independent living,

assisted living, memory care, and con-

tinuing care retirement communities.

Over the years, ASHAÕs members

have come to rely on the Association

for its expertise in three key areas: n Federal advocacy; n Seniors housing research; and n Networking and exchange of

strategic business information.

Federal AdvocacyA hallmark of ASHA is its strong com-

mitment to federal advocacy on behalf

of the seniors housing industry. ASHA

advocates on a range of issues impact-

ing seniors housing, including capital

formation, tax policy, federal over-

sight, legal reform, housing policy, and

employment policy.

ASHA brings a seasoned and highly

respected government affairs team to

represent the industry on Capitol Hill.

Our federal advocacy efforts are sup-

ported by the Seniors Housing Political

Action Committee, one of the fastest

growing federal PACs in the health

care and real estate sectors. The Seniors

Housing PAC gives the industry a

strong voice on Capitol Hill by provid-

ing support to federal candidates who

are responsive to our issues and influ-

ential on matters of vital concern.

ASHAÕs federal advocacy program

is guided by the following CORE

principles:

Consumer DrivenÑEnsure that the

needs and preferences of seniors hous-

ing consumers continues to be met

through regulatory oversight at the

state and local level, where it is most

effective.

Owner/Operator DrivenÑPromote a

favorable business climate that sup-

ports quality, competition, innovation,

and long-term investment in seniors

housing.

Resident Service DrivenÑSupport

research and national initiatives that

enable residents of seniors housing to

receive state-of-the-art services and

age with dignity in the setting of their

choice.

Employee DrivenÑEnsure that employ-

ees of seniors housing providers have

full access to competitive wages and

benefits and a work environment that

fosters job satisfaction and professional

growth.

Seniors Housing ResearchASHA is widely recognized for its

long-standing leadership in advanc-

ing research to support seniors hous-

ing professionals. From in-depth sta-

tistical analyses to succinct executive

summaries on topical issues, ASHAÕs

authoritative research efforts have

played a significant role in advancing

the seniors housing business for lend-

ers and investors as well as developers,

owners and operators.

Annual Research PublicationsÑEach

year, ASHA and its research partners

produce a range of research reports that

cover financial and operational perfor-

mance, construction trends, executive

compensation, state regulation, liabil-

ity insurance, health benefits, work-

ers compensation, and rankings of the

largest owners and managers of seniors

housing.

Special Issue Briefs/ Legal NotesÑ

ASHA distributes several special issue

briefs specifically tailored to provide

busy executives with concise informa-

tion on emerging legal, tax, financial,

health, and real estate issues impacting

seniors housing.

Major Research ProjectsÑASHA peri-

odically commissions major research

projects focused on unique aspects of

the seniors housing market. Coinciding

with its 20th anniversary this year, the

association has launched two forward-

looking studies that will shed light on

the next generation of seniors housing.

Currently available on ASHAÕs website

bookstore, Senior Living for the Next

Generation, Vol. I provides an insight-

ful glimpse into the mindset of the

experienced adult child. The second

volume of this research will focus on

data collected from industry thought

leaders.

ASHA Meeting Keynote

Speaker: George F. Will

ASHA Government

Affairs Team


ABOUT ASHANetworking and Exchange of Strategic Business Information ASHA hosts three meetings a year – an

Annual Meeting (held in January), a

Spring Executive Board Meeting, and

a Fall Meeting (held immediately prior

to the National Investment Conference

(NIC) meeting). ASHA meetings pro-

vide a unique opportunity for the

nation’s top seniors housing executives

to candidly exchange ideas and engage

in thoughtful debate about emerg-

ing issues facing the industry. ASHA

meetings feature the nation’s thought-

leaders from top colleges and univer-

sity’s, along with nationally recognized

speakers from the political and busi-

ness world.

Additionally, ASHA periodically

hosts special issue forums on a host of

timely issues impacting seniors hous-

ing. The forums are led by industry

experts and are expressly designed

to be highly interactive and thought-

provoking to ensure optimal benefit

for all participants.

To learn more about the benefits of

ASHA membership, please visit the ASHA

website at www.seniorshousing.org.

Development of Family & Senior Communities

Land Use & Plan-ningEntitlements

Tax Credits & Bond

USA Properties Fund, Inc.2440 Professional Drive

Roseville, CA 95661

916.773.6060

[email protected]

www.usapropfund.

PropertyManagement

Resident Services

Construction Management

Owner Representa-tion Services

Proven experience. Quantifiable results. Complete accountability.

Sales+Marketing +Technology

See how we’ve changed the state of sales,

marketing and technology for the senior living

industry with ReelTime™. Call 877-540-0868

or visit mature.goodbait.com/reeltime to

schedule your online demo.

Every senior living community’s success is based on

cumulative experience.

Why wouldn’t you expect the same from your sales, marketing & technology partner?

Experienced architects.Experienced investors.Experienced operators.Experienced bankers.Experienced leadership.

It takes real knowledge, understanding and experience to remain innovative and

successful after more than 20 years serving the senior living industry. After working

with more than 140 communities from coast to coast, Martino & Binzer continues

to redefine the way we reach out to the market, realize the potential of technology

and refine our approach to sales leadership—all to ensure your success.

A42 | NREI September 2008

November 3-4, 2011

Chairman’s Circle Event

The Sanctuary Camelback Mountain Resort

Phoenix, AZ

Seniors Housing PAC Chairman’s Circle

Contributors Exclusively

JaNuary 15-17, 2012

Annual Meeting

St. Regis Monarch Beach

Dana Point, CA

Executive Board, Advisory Committee

& Associate Members

april 24-25, 2012

Executive Board Meeting

The Ritz-Carlton, Chicago

Chicago, IL

Executive Board Members Exclusively

Co-located with National Investment Center (NIC)

Leadership Meetings

Moving with confi dence in the real estate capital markets.

© 2011 Cushman & Wakefi eld, Inc. All rights reserved. www.cushwake.com/casestudies

Market expertise, global access to capital and superior execution

Through a specialized team focused on Senior Housing, we provide a coordinated approach to

the full spectrum of real estate capital markets services, offering clients insight

to make the most informed investment decisions and to maximize value.

Senior Housing Capital Markets

Investment Sales

Debt & Equity Financing

Investment Banking

Rick Swartz Phil Anderson

617.204.5904 407.541.4421

ASHA 50

ASHA Meeting ScHedule 2011-2012

What if your community could reach its full potential?

We believe a senior living community must be managed with an

eye toward the future. Not only do we believe this, it’s how we do business.

Greystone is a leader in advising, managing, marketing and developing

senior living communities, with more than three decades of experience.

We drive success through service excellence and teamwork.

We apply best practices to deliver beyond day-to-day operations.

We proactively assess outcomes to achieve performance over the long term.

We understand your business. So not only can we help you manage,

we’ll help you manage for the future.

222 WEST LAS COLINAS BOULEVARD, SUITE 2100 | IRVING, TEXAS 75039 | 972.402.3700 | WWW.GREYSTONECOMMUNITIES.COM

| Building Relationshipsm a n a g e m e n t | p l a n n i n g | f i n a n c e | d e v e l o p m e n t | m a r k e t i n g

To learn more, visit our website at www.greystonecommunities.com

5225 Wisconsin Avenue, NW | Suite 502 | Washington, DC 20015

The American Seniors Housing Association would like to express its sincere appreciation to the

ASHA member companies listed below and their employees for their generous support of the Seniors

Housing PAC. Since its creation in 1996, the Seniors Housing PAC has consistently been the largest

and most active PAC of its kind in the United States.

JEA Senior Living

Kisco Senior Living LLC

LCS

Love Funding

Merrill Gardens LLC

MidCap Financial LLC

Oak Grove Capital

Pathway Senior Living LLC

PNC Real Estate

Principle Valuation LLC

ProMatura Group LLC

Prudential Real Estate Investors

Red Capital Group

Ridge Care, Inc.

Senior Care, Inc.

Senior Housing Investment Advisors, Inc.

Senior Housing Properties Trust

Senior Lifestyle Corporation

Senior Living Communities

Senior Living Investment Brokerage

Senior Resource Group LLC

Senior Star Living

The Shuster Companies

Silverado Senior Living

Symphony Senior Living, Inc.

Trilogy Health Services LLC

Ungaretti & Harris

URBEK

Valuation and Information Group

Van Dyk Health Care

Ventas Healthcare Properties

Vi

Vintage Senior Living

Walker & Dunlop

Watermark Retirement Communities

Wells Fargo Bank

AegisLiving

Allegro Senior Living LLC

Ambrose Capital Group


Atria Senior Living Group

Becker Properties

Belmont Village Senior Living

Bickford Senior Living

Brandywine Senior Living

Brookdale Senior Living

Capital Health Group LLC

Capital Senior Living Corporation

CBRE

Charles Hall Construction LLC

CIT Healthcare

Contemporary Healthcare Capital LLC

Cordia Senior Living

CSH, LLC

Cushman & Wakefi eld

Direct Supply, Inc.

ElderLife Financial

Encore Senior Living LLC

E-Quest Management

Formation Capital LLC

GE Capital, Healthcare Financial Services

Generations LLC

Grace Management, Inc.

Grandbridge Real Estate Capital LLC

Greystone Servicing Corporation

Hanson Bridgett LLP

Hawthorn Retirement Group

HCP, Inc.

Health Care REIT, Inc.

HealthTrust LLC

HTG Consultants, LLC

Irving Levin Associates, Inc.

2011 Seniors Housing PAC Campaign

Moving forward. G e t t i n g i t d o n e .

CWCAPITAL.COM

For more information or to discuss your specific financing needs, contact:

ELLEN KANTROWITZ | MANAGING DIRECTOR | FHA | 781.707.9309 | [email protected]

DONALD KING | MANAGING DIRECTOR | FANNIE MAE/FREDDIE MAC | 781.707.9494 | [email protected]

A Leading National Lender to the Multifamily, Seniors and Healthcare Industries.

CWCapital LLC offers

diverse in-house

origination capabilities

for senior housing and

residential healthcare

facilities including Fannie

Mae, Freddie Mac and FHA.

Our expertise in originating,

structuring, underwriting

and servicing allows us to

deliver custom financing

solutions and ensures our

borrowers the continuity of

working with one dedicated

team throughout the life

of their loan.

108nre 10264 - american seniors housing association · a4 | nrei august/september 2011 asha 50 2011...

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