20th Anniversary Final Program - National Investment … · T A B L E O F C O N T E N T S 2 The 20th Anniversary NIC Conference S C H E D U L E September 22-24, 2010, Sheraton Chicago

F I N A L P R O G R A M

The 20th Anniversary NIC Conference

September 22-24, 2010 Sheraton Chicago Hotel

& Towers

WE

LC

OM

E

The 20th Anniversary NIC Conference II

WE

LC

OM

E

September 22-24, 2010, Sheraton Chicago Hotel & Towers 1

Welcome to the 20th AnniversAry nic conference!I am thrilled to have you in my hometown of Chicago, where we will celebrate NIC’s 20th Anniversary Conference. I’m so happy you are here for this milestone dealmaking event in the seniors housing and care industry. Many thanks to those of you who have attended and sponsored NIC events throughout the years. Without your commitment, we would not be where we are today!

This year’s conference will feature a special plenary session to commemorate the history of the industry and NIC with a panel of seasoned veterans who will explore the past 20 years of industry history, our progression to present day, and give their predictions for the next 20 years from their perspectives as past NIC chairs. Don’t miss it!

The 20th Annual NIC Conference will also examine:

• the return to the fundamentals that will position you for future success

• the impact of the economy and healthcare reform on the industry

• the future of capital availability for seniors housing and care

• the industry’s comparative performance with other commercial real estate classes based on current data

Plus, breakout sessions will provide an in-depth look at issues in sales and marketing, skilled nursing reimbursement, valuations, underwriting, and quality service.

Be sure to take advantage of the valuable networking opportunities this week, including the 20th Anniversary Opening Reception on Wednesday at 6:00 p.m., and Thursday night’s

“Meet the Investors” Reception at 5:15 p.m. If this is your first NIC event, please join us for the Newcomers Reception on Wednesday evening, where you’ll meet NIC leadership, network with your peers, and hear suggestions for how to make the most of the conference.

Looking for seniors housing and care data? Visit the Cyber Café & Data Center where you’ll find the latest research publications and can take advantage of on-site conference discounts. You can also arrange for a complimentary demonstration of the NIC MAP® Data & Analysis Service to see how the market is performing, and gain key insights into seniors housing performance data.

Whether you’ve attended the past 19 conferences, or have never experienced an NIC event, we thank you for joining us at this very special 20th anniversary celebration.

Kevin McMeen President-Real Estate

MidCap Financial, LLC

TA

BL

E O

F C

ON

TE

NT

S

The 20th Anniversary NIC Conference 2

SC

HE

DU

LE


Ta b l e o f Co n T e n T s

3-5 Schedule

6-10 General Information

11 2010 NIC Partners

12-13 Cyber Café & Data CenterInformation

14 NIC MAP®

15 Coupons

18-19 NIC Leadership

20-21 Elite Sponsors

22-27 Sponsors

28-37 Session Information

38-39 Save-the-Date:Upcoming NIC Events

40-43 Hotel Floor Plans

Please wear your NIC badge and lanyard throughout the event. Admission to all receptions, networking lounges, meeting space and educational sessions is allowed only with an NIC badge visible. Out of fairness to paid attendees, there will be badge check points in these locations. Badges are nontransferable, and there is a $100 fee for a badge replacement.

sC h e d u l e

T u e s d Ay, s e p T e m b e r 2 1

4:00 p.m. - 6:00 p.m. Registration OpenConvention Registration Desk

5:00 p.m. - 6:45 p.m. NIC FLC Reception(invitation only) Missouri

W e d N e s d Ay, s e p T e m b e r 2 2

8:00 a.m. - 8:00 p.m. Registration Open Convention Registration Desk

8:00 a.m. - 8:00 p.m. Networking Lounges Open• Lobby Level (Java Bar) • River Level (Exhibition Hall B)

8:30 a.m. - 11:30 a.m. NIC MAP® Market BriefingSheraton 1

2:00 p.m. - 8:00 p.m. NIC Cyber Café & Data Center Open Ballroom Promenade

2:00 p.m. - 4:00 p.m. NIC Operator Advisory Board Meeting (invitation only) Sheraton 2

4:00 p.m. - 5:00 p.m. Newcomers Reception(invitation only) Sheraton 1

4:30 p.m. - 6:00 p.m. Board of Directors Reception(invitation only) Sheraton 5

6:00 p.m. - 8:00 p.m. 20th Anniversary Opening Reception Chicago Ballroom

SC

HE

DU

LE


SC

HE

DU

LE


T h u r s d Ay, s e p T e m b e r 2 3

7:00 a.m. - 7:00 p.m. Registration OpenConvention Registration Desk


7:00 a.m. - 7:00 p.m. NIC Cyber Café & Data Center Open Ballroom Promenade

7:00 a.m. - 8:00 a.m. Continental BreakfastBallroom Promenade

8:00 a.m. - 9:15 a.m. Opening Plenary Session with Keynote Address by Mark Zandi: The Outlook for the Economic Recovery & Capital MarketsChicago Ballroom

9:15 a.m. - 10:00 a.m. Coffee & Networking BreakBallroom Promenade

10:00 a.m. - 11:30 a.m. Concurrent Breakout Sessions• Medicare Changes and Their

Impact on Long-Term Care Sheraton 1

• Seniors Housing 101 Sheraton 3

• Commitment to Quality Services: Effects of the Great Recession and Where Do We Go From Here? Sheraton 4

• Navigating Today’s Conventional Financing Market Sheraton 5

11:30 a.m. - 1:15 p.m. Networking Luncheon with Keynote Address by Newt Gingrich: The Cost, Consequences and Future of Healthcare ReformChicago Ballroom

1:30 p.m. - 3:00 p.m. Concurrent Breakout Sessions• Advanced Underwriting: How

to Recognize and Deal with Risk Sheraton 1

• Sales and Marketing: The New Fundamentals Sheraton 4

• Accessing REIT Capital Sheraton 5

3:00 p.m. - 3:45 p.m. Coffee & Networking BreakBallroom Promenade

3:45 p.m. - 5:15 p.m. Plenary Session: 20 Year Perspective: The Past, The Present and The Future of Seniors Housing & CareChicago Ballroom

5:15 p.m. - 7:00 p.m. “Meet the Investors” ReceptionSheraton Ballroom

F r I d Ay, s e p T e m b e r 2 4

8:00 a.m. - 10:00 a.m. Registration OpenConvention Registration Desk


8:00 a.m. - 12:00 p.m. NIC Cyber Café & Data Center Open Ballroom Promenade

8:30 a.m. - 9:30 a.m. Continental BreakfastBallroom Promenade

9:00 a.m. - 10:15 a.m. Plenary Session: The Changing Healthcare Landscape and How it Affects Your Bottom Line: Views from Washington InsidersChicago Ballroom

10:30 a.m. - 12:00 p.m. Concurrent Breakout Sessions• The Future of Agency Financing

Sheraton 1

• Case Studies of Valuations Sheraton 4

• Medicaid Funding and the Future of Skilled Nursing Properties Sheraton 5

12:00 p.m. Conference Adjourns

s A v e T h e d A T e

21st Annual NIC Conference

September 21-23, 2011

Marriott Wardman Park, Washington, DC

GE

NE

RA

L I

NF

OR

MA

TIO

N


GE

NE

RA

L IN

FO

RM

AT

ION


Ge n e r a l In f o r m aT I o n

NIC Badge Codes

Green = Debt Provider

Yellow = Equity Provider

Orange = Developer

Blue = Financial Intermediary

Red = Operator/Provider of 1-10 Properties

Purple = Operator/Provider of 11+ Properties

Black = Professional Services, Media, Association, Gov’t, Academic

ResouRCes & MateR Ials

CoNFereNCe mATerIAls

In addition to this Final Program, your conference bag includes the materials listed below. Unwanted bags may be dropped off at the Convention Registration Desk and will be donated to a local charity.

• event Guide to InvestorsThe NIC Event Guide to Investors includes company profiles and contact information for all registered lenders, investors and financial intermediaries who submitted their completed information forms by August 18th. The Event Guide connects operators seeking financing with debt and equity capital providers to the sector.

• speaker presentationsThis year’s speaker presentations and bios were posted for download in the Attendee Resources section of our website, and are also provided on a CD located in your Speaker Presentation Portfolio. Visit the Cyber Café or message center to print the most up-to-date presentations for sessions you will attend.

eleCTroNIC messAGe boArd

Visit the Electronic Message Board, located in the Ballroom Promenade, to access the NIC Message Center, where email networking requests may be sent, retrieved and viewed. Names of attendees who have unread messages will appear on the plasma screen each day so they know to retrieve them.

CoNFereNCe AudIo reCordINGs

Recordings of most breakout and plenary sessions are available for purchase at a special, on-site discounted rate. Recordings can be ordered at the Audio Excellence table located in the Ballroom Promenade after each session. An order form can be found in your conference materials.

FREE SESSION RECORDING! Get a free recording of your favorite session (sponsored by Jones Lang LaSalle). Simply bring the coupon (on page 15) tothe Audio Excellence table.

NetwoRkINg oppoRtuNIt Ies

NeTWorkING louNGes

Two networking lounges, available for use throughout the conference, provide comfortable places for attendees to conduct business, with small group table settings to accommodate your meeting needs (sponsored by RED CAPITAL GROUP).

New this year, Networking lounge meeting points are identified on the maps in the back of this program, as well as marked by signage in the lounges. Reference these meeting points when scheduling your appointments to save time locating people in the crowded lounges.

• lobby level Networking lounge (Java bar)The Lobby Level Networking Lounge, protected by security checkpoints to enhance the networking experience for paid attendees, has furniture groupings ideal for small meetings. Visit the Java Bar, located in the center of the lounge, to grab coffee, a cold drink, or to hold a meeting. Materials from Press and Industry Sponsors can also be found in the Lobby Level Lounge.

GE

NE

RA

L I

NF

OR

MA

TIO

N


GE

NE

RA

L IN

FO

RM

AT

ION


• river level Networking lounge (river exhibition hall b)If you prefer less of a crowd, more privacy, or space to spread out, hold your meetings in the River Level Networking Lounge. This lounge, located on Level 1 of the Sheraton, has ample tables and space for private meetings.

NeTWorkING reCepTIoNs

Take advantage of the opportunity to network with nearly all attendees at our highly-attended evening receptions, starting with the 20th Anniversary Opening Reception on Wednesday at 6:00 p.m. Thursday night’s “Meet the Investors” Reception at 5:15 p.m. will give you the chance to meet with the industry’s top financiers. If this is your first NIC event, please join us at our Newcomers Reception on Wednesday evening, where you’ll meet NIC leadership, network with your peers, and hear suggestions for how to make the most of the conference.

oN-sIte RestauRaNts & seRv ICes

ComplImeNTAry AmeNITIes

• relaxation stationTake a break from your busy schedule and visit the Relaxation Station to enjoy a complimentary upper-body massage between appointments!

Location: East side of the Ballroom Promenade (Level 4)

Hours: Thursday: 7:30 a.m. – 5:30 p.m. Friday: 8:00 a.m. – 12:00 p.m.

• Java barEnjoy one complimentary coffee beverage of your choice at the Java Bar. Bring the coupon on page 15 to receive your free drink.

sherAToN servICes

• shipping serviceFor your convenience, a representative from the hotel’s shipping department will be located outside of the Sheraton Ballroom, near the NIC Cyber Café & Data Center from 7:00 p.m. to 8:30 p.m. on Thursday, September 23, following the reception as well as 9:00 a.m. to 12:00 p.m. on Friday, September 24, to assist you with shipping any materials you have purchased or collected throughout the conference.

sherAToN resTAurANTs

Shula’s Steak HouseEnjoy SHULA CUT steaks and fresh seafood, at one of the top steak houses in America. Located on the lobby level near the hotel front entrance. Open daily from 11:30 a.m. until 10:30 p.m.

Chi BarExperience the exciting Chi Bar, created by renowned designer, Jeffrey Beers. Located on the Lobby level near the Java Bar. Open daily from 5:00 p.m. until 1:00 a.m.

Chicago Burger CompanyLocated on the scenic Chicago River, this casual burger restaurant boasts the classics. Choose between the juicy all-American beef burger, savory salmon, healthy

vegetarian and more. All generously topped with your choice of trimmings or the traditional favorites. Located on the River level (level 1). Open daily from 11:00 a.m. until 9:00 p.m.

Link @ Sheraton CafeLINK @ Sheraton Cafe is the place to connect. Enjoy a variety of salads, sandwiches, paninis, soups, salads, breakfast pastries and coffee. Free wireless, free workstations and online printing.

Located on level 2, just one floor below the hotel lobby. Open daily from 6:00 a.m. until 9:00 p.m.

LB’s Bistro & PâtisserieLB’s Bistro & Pâtisserie is the first restaurant of World Champion Pastry Chef Laurent Branlard. Combine fresh ingredients and simple yet unique combinations of

flavors to create your own breakfast or lunch. Located on level 2, just one floor below the hotel lobby. Open daily from 6:30 a.m. until 4:00 p.m.

GE

NE

RA

L I

NF

OR

MA

TIO

N


NIC Thanks ItsPremier Partners2010

www.hcreit.com

www.surfacelogic.com

Interested in becoming an NIC Partner?Contact Elisa Freemanat [email protected]

GE CapitalHealthcare Financial Services

www.gehealthcarefinance.com

oN-sIte INfoRMat IoN

emerGeNCy CoNTACT INFormATIoN

In case of a medical emergency, the best way to reach a conference attendee is to call the NIC Registration Desk during conference hours at (312) 329-7162. NIC staff members are not able to page conference participants; however, messages can be posted on the Electronic Message Board. The hotel’s phone number is (312) 464-1000 and the guest fax number is (312) 464-9140. The Sheraton Chicago Hotel & Towers is located at 301 East North Water Street, Chicago, IL 60611.

NIC sTAFF oFFICe/losT ANd FouNd

Columbus A/B, located on the Lobby Level, has been designated as the staff office. Lost and Found is also located here.

oN-sITe phoToGrApher

There will be an NIC photographer taking photos of this year’s conference. As a conference participant, you agree to be included in photographs that may be used for future publicity or marketing materials (sponsored by Waller Lansden Dortch & Davis, LLP).

TAble spACe For spoNsor mATerIAls

Please note that the tables provided at the conference are for NIC sponsor materials only. Any unauthorized materials will be disposed of.

Is your phoNe TurNed oFF?

Out of courtesy for your colleagues and the speakers who are participating in the conference, please keep your cell phone ringer turned off and refrain from conversations during all sessions. Thank you.

CY

BE

R C

AF

É &

DA

TA

CE

NT

ER


CY

BE

R C

AF

É &

DA

TA

CE

NT

ER


Cy b e r Ca f é & daTa Ce n T e r

CyBeR Café

The Cyber Café is open throughout the conference, and features laptops attendees may use to check email, complete small print jobs, and view the most up-to-date attendee list and speaker presentations.

data CeNteR

Visit the Data Center to view the latest seniors housing research and data, and learn how to take advantage of valuable NIC resources.

• Sign up to receive the NIC Insider, NIC’s monthly e-newsletter featuring industry news and business information. (www.nic.org/insider)

• View the latest research publications and take advantage of on-site conference discounts. Publications that will be released at the conference include:

• The State of Seniors Housing 2010This report provides information on seniors housing operational performance, representing aggregate data from 1,200 seniors housing properties. Information includes detailed expense and NOI data.

• NIC/ASHA Seniors Housing Construction Trends ReportThis report provides an overview of construction activity in the 100 largest metropolitan areas in the U.S. The report contains a detailed count of all construction activity in senior apartments, independent living, assisted living, nursing home and CCRC properties as of March 2010.

• New This Year! NIC Investment Guide 2010: Investing in Seniors Housing & Care Properties This new report will provide a detailed introduction and overview of the investment characteristics of the seniors housing and care industry. Distributed during the Thursday Luncheon, the Executive Summary highlights each section. Visit the Data Center to pre-order your copy of the full publication at a special on-site rate available only to attendees.

Receive a complimentary web demonstration of the NIC mAp data & Analysis service®, the leading provider of timely and comprehensive performance data on the seniors housing and care industry. Metrics reported include revenue, occupancy, inventory and construction data on America’s 100 largest metro markets.

A wide range of NIC MAP reports will be available for purchase at discounted rates for conference attendees. They include:

• NIC MAP Metro Market Reports – Our in-depth Metro Market Reports are available for the 100 largest metro markets. Quarterly benchmarks are reported for occupancy, inventory, construction and rent growth.

• NIC MAP Inventory & Construction Reports – Produced for each of the 31 largest metro markets, you’ll see detailed supply directories that list which properties are located in a particular market.

• NIC MAP Construction Monitor – Get a written analytical report, providing detailed reports on construction activity for each property type.

• NIC MAP Monitor – Use this analytical report for comprehensive and detailed analysis of seniors’ housing data and trends at the national level for each property type.

Sign up to receive our Market Signals email alerts. These complimentary alerts, released periodically throughout the quarter, highlight timely market commentary, research and news from NIC MAP. The information is based on analysis of current quarter data from the 100 largest metro areas, and is designed with the seniors housing and care professional in mind, as a quick go-to resource to obtain the latest updates for our industry.

®

CO

UP

ON

S


Get Complete Coverage of the Seniors Housing & Care Industry

NIC MAP - The leading provider of timely and comprehensive performance data on the seniors housing and care industry.

NIC MAP is the premier provider of data and analytics on independent living, assisted living, memory care, nursing care and CCRC properties within America’s 100 largest metro markets.

For your mission-critical business decisions, use NIC MAP’s powerful web-based suite of tools and reports to:

• Quickly identify markets that present opportunities

• Stay ahead of industry trends with leading analytics

• Measure your properties’ position and performance in the market

• Access local performance benchmarks

• Obtain useful, standardized market level metrics for use in feasibility studies

®

www.NICMAP.org • (410) 267-0504

Visit the Data Center while at the conference to learn moreand to take advantage of on-site discounts for attendees only.

Good for 1 FREE Co�ee Drink*Present this coupon at the Java Bar to redeem.

Sponsored by: Greystone Servicing Corporation, Inc.

O�er Expires 9/24/10*non-alcoholic

FREE Session Recording

Present this coupon at the Audio Excellence table located in the Ballroom Promenade to place

your order for 1 complimentary session recording.

Sponsored by: Jones Lang LaSalle

CO

UP

ON

S


THANKS TO YOUWe’re succeeding and leading the aging revolution.

• Enrollment is at its highest level ever: in 2009-10, 460 undergraduates registered for Erickson School courses, a 31% increase over the previous year; our 3rd master’s cohort numbers 30 students, the largest class yet

• Online executive education courses have been launched

• Thanks to the efforts of Chris Hollister, Mark Erickson and your generous gifts, we were able to fund $23,019 in scholarships for our undergraduate majors and minors in 2009-10

erickson.umbc.edu 443-543-5624

[email protected]

NIC

LE

AD

ER

SH

IP


NIC

LE

AD

ER

SH

IP


NIC operATor AdvIsory boArd

Larry Cohen, Chief Executive Officer, Capital Senior Living Corp.

Jon DeLuca, President and CFO, Horizon Bay Retirement Living

David Ford, Vice Chairman, AegisLiving

Mark Fulchino, President & CEO, Fundamental

Chip Gabriel, President, Generations LLC

Paul Hubbard, Co-CEO, Plum Healthcare Group, LLC

Ed Kenny, President and CEO, Life Care Services LLC

Judy Marczewski, CFO, One Eighty

Joseph C. McCarron, Jr., President, Capital Care Associates, LLC

Pat Mulloy, President & CEO, Senior Care, Inc.

Ric Olson, President/Chief Executive Officer, VibrantLiving Communities & Services

Richard Schutt, CEO,Providence Management & Development

Margaret I. Scott, Chief Investment Officer, Belmont Village Senior Living

Loren Shook, President/CEO/Chairman of the Board, Silverado Senior Living (Vice Chair)

Doug Spear, SVP & CFO,Merrill Gardens LLC (Chair)

John F. Taylor, President & CEO, StoneGate Senior Care

nIC le a d e r s h I p

NIC boArd oF dIreCTors

Stephanie T. Anderson, Managing Director, GE Capital, Healthcare Financial Services

Dan Biron, Managing Director – National Directorof Healthcare Programs, Lancaster Pollard

Philip Brooks, Senior Vice President, Berkadia Commercial Mortgage, LLC

Tim Fox, Executive Vice President, Senior Resource Group

George V. Hager, Jr., CEO,Genesis HealthCare Corp. (Board Treasurer)

Gray Hampton, III, Managing Director, Bank of America Merrill Lynch

Mitchell Kiffe, Senior Managing Director, CB Richard Ellis, Capital Markets

Robert G. Kramer, President, NIC

Beth Burnham Mace, Director-AEW Research, AEW Capital Management, L.P.

Angela Mago, Sr. Vice President and National Manager, KeyBank Real Estate Capital-Healthcare Group

Kevin McMeen, President-Real Estate, MidCap Financial LLC (Board Chair)

John Moore, CEO, Atria Senior Living Group

Brad Razook, President & Managing Director, CS Capital Advisors, LLC (Board Secretary)

Randy Richardson, President, Vi (Board Vice Chair)

Bill Sheriff, CEO, Brookdale Senior Living

Doug Spear, SVP & CFO, Merrill Gardens LLC

David Watkins, Senior Vice President, Heitman

Arnold Whitman, CEO & Co-Chairman, Formation Capital, LLC

SP

ON

SO

RS


SP

ON

SO

RS


sp o n s o r s

Elite Sponsors

AVIV REITConference Bottled Water

Berkadia Commercial MortgageOpening Reception

CapitalSourceOpening Reception

Freddie MacConference Bags

GE Capital, Healthcare Financial Services• “Meet the Investors” Reception• Journal Award for Best Research Article

Health Care REIT, Inc.• Conference Printing• Attendee Listing

GE CapitalHealthcare Financial Services

KeyBank Real Estate Capital - Healthcare GroupWall Street Journal Delivery

MidCap Financial, LLCConference Hotel Room Keys

RED CAPITAL GROUPNetworking Lounges

Surface LogicKeynote Speaker: Mark Zandi

Ventas Healthcare Properties“Meet the Investors” Reception

ViConference Badges and Lanyards

SP

ON

SO

RS


SP

ON

SO

RS


Event Sponsors

Alden Management ServicesConference Announcement

ARA National Seniors Housing GroupBoard Meeting Refreshments

Baker, Donelson, Bearman, Caldwell & Berkowitz, PCConference Staging

Capital Funding LLCThursday Continental Breakfast

Capital Senior Living CorporationThursday Morning Coffee & Networking Break

Contemporary Healthcare Capital, LLCEvent Guide to Investors

CS Capital Advisors, LLCKeynote Speaker: Newt Gingrich

Epicor SoftwareOAB Meeting Refreshments

Genesis Rehab ServicesCyber Café & Data Center

Greystone Servicing Corporation, Inc.Java Bar

HASKELLButler Trays

HCP, IncOngoing Research

Healthcare Finance Group, LLCConference Staging

Formation CapitalFinal Program

SP

ON

SO

RS


SP

ON

SO

RS


HealthTrust, LLCThursday Plenary Luncheon

Jones Lang LaSalleConference Recording

Lancaster PollardBoard of Directors VIP Reception

Love FundingElectronic Message Board & Event Messaging System

Nixon PeabodyNewcomers Reception

PNC Real EstateRelaxation Station

Prudential Mortgage Capital CompanyNetworking Mints

Senior Living Investment Brokerage, Inc.Conference Printing

Servant Healthcare Investments, LLCContinuous Beverage Service

Shattuck Hammond PartnersThursday Afternoon Coffee & Networking Break

The Nathanson Group PLLCFriday Continental Breakfast

Valuation & Information GroupKeynote Speaker: Newt Gingrich

Walker & DunlopSpeaker Presentation Web Page & Portfolio

Waller Lansden Dortch & Davis, LLPConference Photography

YardiConference Audio Visual

Ziegler

Preliminary Program

A Division of Morgan Keegan

SP

ON

SO

RS


SP

ON

SO

RS


Sustaining Research Sponsors

AEW Capital Management

Archangel Capital Partners, LLC

Cambridge Realty Capital Companies

Capital Care Associates

Ganther Construction|Architecture, Inc.

Gemino Healthcare Finance

JER Partners

Marcus & Millichap Real Estate Investment Services

Nationwide Health Properties

Reznick Group

The PrivateBank

Association/Industry Sponsors

American Association of Homes & Services for the Aging (AAHSA)

American Health Care Association (AHCA)/ National Center for Assisted Living (NCAL)

American Seniors Housing Association (ASHA)

Assisted Living Federation of America (ALFA)

Erickson School

International Council on Active Aging (ICAA)

Lincoln Healthcare Events

Media Sponsors

Assisted Living Executive

Institutional Real Estate, Inc.

Long-Term Living

McKnight’s Assisted Living

McKnight’s Long-Term Care News

Modern Healthcare

National Real Estate Investor

Provider Magazine

Senior Housing News

Senior Living Business

The SeniorCare Investor

SE

SS

ION

S


SE

SS

ION

S


Ke y n o T e sp e a K e r s

Thursday opening plenary session

8:00 A.m. – 9:15 A.m.

GE 2010 Seniors Housing & Care Journal Awards

Brian Beckwith, Senior Managing Director at GE Capital, Healthcare Financial Services, 2010 Award Sponsor, will present the awards for the top articles featured in this year’s journal.

The Outlook for the Economic Recovery & Capital Markets

Keynote Introduction by: Andy Baxter, Surface Logic

k e y N o T e s p e A k e r :

Mark Zandi, Chief Economist, Moody’s Analytics

Sponsored by:

Gain insights into the outlook for home sales and prices, job

growth, unemployment, interest rates, and debt capital from leading economist Mark Zandi—chief economist of Moody’s Analytics—as he discusses the current state and the future of the housing market, consumer spending, economic policy, financial regulation, as well as the outlook for the business and government sectors. As a trusted adviser to policymakers and an influential source of economic analysis for businesses, journalists and the public, Dr. Zandi is often quoted in national and global publications, regularly interviewed by major news media outlets, and frequently has testified before Congress. He has provided thoughtful analysis on the economic impact of various tax and government spending policies, assessed the appropriate policy response to bubbles in asset markets, and has charted a roadmap for meeting the nation’s daunting fiscal challenges. Find out what this prominent economist forecasts for growth in GDP, inflation and capital availability, and learn what he expects will be the future sources and costs of capital for commercial real estate.

Thursday Networking luncheon

& keynote Address

11:30 A.m. – 1:15 p.m.

Luncheon sponsored by:

The Cost, Consequences and Future of Healthcare Reform

Keynote Introduction by:Bradley Razook, CS Capital Advisors

k e y N o T e s p e A k e r :

Newt Gingrich

Keynote Speaker sponsored by:

In this keynote address, Newt Gingrich, former Speaker of the House and Founder of the Center for Health Transformation, will outline both the real and political costs of healthcare reform for the country. Drawing on his leadership in the field of healthcare innovation, this thought leader will provide an overview of what individuals—and companies—need to know about the outcomes of the reform efforts. As an expert on healthcare trends, Gingrich is widely recognized for his commitment to a better system of health for all Americans. His talk will reveal his observations about the reform legislation, its potential ramifications for the seniors housing and care industry, and his ideas for healthcare transformation that could impact all aspects of caring for the aging population.

SE

SS

ION

S


SE

SS

ION

S


pl e n a ry se s s I o n s

Thursday plenary session

3:45 p.m. – 5:15 p.m.

20 Year Perspective: The Past, The Present, and The Future of Seniors Housing & Care

m o d e r AT o r : (top left)

Robert G. Kramer, President, NIC

s p e A k e r s : (from top second left to bottom right)

•Thilo Best, Chairman & CEO, Horizon Bay Retirement Living

•Ray Braun, Managing Member, Prospects Advisory Group

•Sarah S. Duggan, Senior Vice President/Managing Director, Capmark Bank

•Raymond J. Lewis, Executive Vice President & Chief Investment Officer, Ventas Healthcare Properties

•Kathryn Sweeney, Principal, Milford Senior Housing Advisers, LLC

•Arnold Whitman, CEO & Co-Chairman, Formation Capital, LLC

How has the seniors housing and care industry matured over the last 20 years—and what can we expect for the next 20 years? Find out in this special session, where a presentation of NIC MAP statistics will set the stage for a dynamic dialogue about the current state of the industry between six former NIC board chairpersons. These industry veterans will reflect on the evolution of seniors housing and care during the last two decades, plus discuss their thoughts on lessons learned and insights gleaned from the recent recession. You’ll get their predictions for the upcoming 20 years, and learn how the future of NIC and the industry may be shaped by the past. Don’t miss what each of these seasoned executives has to say from their unique industry perspectives as equity, debt, operational and transactional experts.

Friday plenary session

9:00 A.m. – 10:15 A.m.

The Changing Healthcare Landscape and How It Affects Your Bottom Line: Views from Washington Insiders

s p e A k e r s : (from left to right)

•Dan Mendelson, President and CEO, Avalere Health, LLC

•Bob Wood, President, BGR Government Affairs LLC,BGR Group

Specifically designed for the seniors housing and care investor or operator who wants to learn about the practical implications of the healthcare reform, this session will explain how you can take advantage of the opportunities presented by this legislation. Come hear from Bob Wood, former chief of staff at Health and Human Services (HHS) for Secretary Tommy Thompson under President George W. Bush, and Dan Mendelson, former associate health director at OMB under President Bill Clinton, as they share their candid, insider views of what healthcare reform means for seniors housing & care operators and investors. Wood is president of the BGR Group, a bipartisan government relations, strategic communications and investment banking firm with offices in Washington and London. Mendelson is the President and CEO of Avalere Health LLC, a strategic advisory firm based in Washington, D.C., and also serves on the boards of PharMerica Corporation and Coventry Health Care Inc. Come learn how employer health insurance mandates will affect the industry, and what it means for an operator’s bottom line. Discover the implications of post-acute bundling for assisted living and skilled nursing facilities. Hear these experts predict the future effects of this legislation, including the economics and potential impact of the CLASS Act and how it will affect the seniors housing industry. Find out how preparation for the healthcare reform — not reaction — is the best way to achieve future success.

SE

SS

ION

S


SE

SS

ION

S


Thursday breakout sessions

morNING sessIoNs, 10:00 A.m. – 11:30 A.m.

Medicare Changes and Their Impact on Long-Term Care

On October 1, the federal Medicare system will undergo significant changes in its reimbursement of skilled nursing providers—changes that will require the entire industry to critically evaluate all aspects of their operations. In this session, a panel of experts representing four of the largest skilled nursing operators will discuss MDS 3.0/RUGs IV, concurrent therapy, and other significant changes in the Medicare payment systems that will impact the clinical, operation and financial performance of the industry well into the future. These leading industry executives will discuss how their companies are reacting to these pending changes, as well as the initiatives they are implementing to address the results of the Medicare changes.

m o d e r AT o r :

George V. Hager, Jr., Chief Executive Officer, Genesis HealthCare Corporation

s p e A k e r s :

•William M. Altman, SVP of Strategy & Public Policy, Kindred Healthcare, Inc.

•Jack MacDonald, Senior Vice President Public Affairs,Golden Living

•Neil Pruitt, Jr., Chairman & C.E.O., UHS-Pruitt Corporation

Seniors Housing 101

Designed as an introduction to the seniors housing and care industry, this informative session will utilize the “NIC Investment Guide 2010: Investing in Seniors Housing & Care Properties,” NIC MAP research and data, and comparative information from NCREIF and NAREIT to examine the fundamental parameters and the current performance of the industry. The panel will provide a framework for analysis and understanding of the industry, as well as benchmarks for the comparison of seniors housing performance to other real estate sectors. Newcomers to the industry will learn about seniors housing and care product types, the key factors that should be considered from a developer or investor point of view, and which resources are the key sources of data.

m o d e r AT o r :

Tim Fox, Executive Vice President, Senior Resource Group

s p e A k e r s :

•Michael Hargrave, Vice President - NIC MAP, NIC

•Michelle Kelly, Vice President - Team Leader, GE Capital, Healthcare Financial Services

•David Watkins, Senior Vice President, Heitman LLC

Commitment to Quality Services: Effects of the Great Recession and Where Do We Go From Here?

How do seniors housing and care facilities maintain quality services during recessionary times? Come hear a panel of savvy operators describe their techniques for managing costs and continuing their commitment to excellence. As the industry emerges from the recession, learn what you can do to deliver—and improve—quality. Find out how you can demonstrate your quality commitment to residents and their families, as these experienced operators describe the lessons they’ve learned that have helped to preserve their reputations as superior service providers.

m o d e r AT o r :

John Moore, CEO, Atria Senior Living Group

s p e A k e r s :

•Granger Cobb, President & Co-CEO, Emeritus Senior Living

•Pat Mulloy, President/CEO, Senior Care, Inc.

•Loren Shook, President, CEO & Chairman of the Board, Silverado Senior Living

Navigating Today’s Conventional Financing Market

Which conventional lenders are actually completing deals, and how do they really view the seniors housing and care industry? Who still plays in transactions of $35 million and more? Experienced balance sheet financiers from actively lending institutions will reveal the answers to these questions as they share their viewpoints and opinions in a Q&A format. These lenders will tell you what they like—and don’t like—about each operating sector. They will also offer details about the deals they funded in 2010, as well as their on-going deal parameters such as size limits, loan to value, lease up risk, and constructions loans.

SE

SS

ION

S


SE

SS

ION

S


Navigating Today’s Conventional Financing Market, continued

m o d e r AT o r :

Stephanie T. Anderson, Managing Director, GE CapitalHFS Real Estate

s p e A k e r s :

•Richard Hubbard, Senior Vice President, Wells Fargo Bank

•Angela Mago, SVP and National Manager, Key Bank Real Estate Capital - Healthcare Group

•Colleen Mullaney, SVP, TD Bank, NA

AFTerNooN sessIoNs, 1:30 p.m. – 3:00 p.m.

Advanced Underwriting: How to Recognize and Deal with Risk

During challenging economic times, a focus on fundamentals and analytical decision-making will produce successful results. A panel featuring three different types of capital providers plus savvy operators will present two seniors housing case studies that illustrate the factors that drive investment decisions. They’ll dig into the specifics and share their views on where they see risk, how they assess it, how they mitigate it, and how they price for it. As a result, you’ll have the detailed analysis you need to succeed in your day-to-day business.

m o d e r AT o r :

Jon DeLuca, President & Chief Financial Officer, Horizon Bay Retirement Living

s p e A k e r s :

•Michael Gordon, Vice President, Harrison Street Real Estate Capital

•Kevin McMeen, President-Real Estate, MidCap Financial, LLC

•Jeffrey Sands, Executive Vice President, Herbert J. Sims & Co., Inc.

Sales & Marketing: The New Fundamentals

The economic environment has challenged the seniors housing and care industry to recalibrate many aspects of its business. If you want to convert more of your visits into sales, come listen to this panel of executives describe how the practical application of sales metrics has produced new fundamentals of sales and marketing. The expert

panelists will examine data from the first 12 months of NIC-funded questions in the University of Michigan/Reuters National Monthly Consumer Sentiment Survey. Results surprisingly reveal a higher level of awareness and visitation of Independent Living communities by potential customers, begging the question, “why aren’t we converting more visits to sales?” Find out the answer to this question and more as marketing and research experts explain how you can use data—such as NIC MAP—to drive marketing decisions, and use staff training techniques to improve sales.

m o d e r AT o r :

Randy Richardson, President, Vi

s p e A k e r s :

•Diane Cook, Vice President of Human Resources, Vi

•Chuck Harry, Research Director, NIC

•Rick Wigginton, VP Sales, Atria Senior Living Group

Accessing REIT Capital

Healthcare REITs have raised significant amounts of capital and are expected to be a meaningful source of future financing to the seniors housing and care industry. In this session, select leaders from the REIT sector will describe the type of activity we can expect from REITs for the remainder of 2010 and into 2011. They’ll explain how they will deploy capital and what sectors will be their primary focus, as well as describe their appetite for asset ownership versus debt. Anyone hoping to access this type of capital will gain valuable knowledge as this panel describes the considerations that influence their lease rates and coverages, their projections about construction financing, and the key issues affecting the transactions they have closed this year.

m o d e r AT o r :

Gray Hampton, Managing Director, Bank of America Merrill Lynch

s p e A k e r s :

•Craig Bernfield, Chairman, CEO & President, Aviv REIT

•Donald Bradley, Executive Vice President, Chief Investment Officer, Nationwide Health Properties, Inc.

•Taylor Pickett, CEO, Omega Healthcare Investors, Inc.

•Danny Prosky, President & Chief Operating Officer,Grubb & Ellis Healthcare REIT II, Inc.

SE

SS

ION

S


SE

SS

ION

S


Friday breakout sessions

10:30 A.m. – 12:00 p.m.

The Future of Agency Financing

Based on the fact that available debt capital of recent years has declined considerably, government sponsored agencies—HUD, Fannie Mae and Freddie Mac—have been a capital lifeline for the seniors housing and care industry. But as we exit the recession and face the possibility of major overhauls by Congress, what does the future hold for these funding sources? In this session, you’ll have an opportunity to hear directly from representatives of these three agencies. They will discuss their insights about the future of agency financing, including the amount of activity they expect and what the terms might be. They’ll also review agency program changes, the status of their programs, and any areas of concern they have as they look at their own portfolios.

m o d e r AT o r :

Dan Biron, Managing Director - National Director of Healthcare Programs, Lancaster Pollard

s p e A k e r s :

•Kathleen Burtschi, Senior Attorney, Office of General Counsel (OGC), Multifamily Mortgage Division, HUD

•Christopher Honn, Director, Senior Housing, Fannie Mae

•Steven T. Schmidt, National Director, Freddie Mac Senior Housing Finance, Freddie Mac

•Mark Williams, Senior Policy Advisor, Office of Healthcare Programs (OHP), Section 232 Program, HUD

Case Studies of Valuations

What factors influence valuations in the seniors housing and care industry? This panel, which represents a broad cross-section of the industry, will share their individual viewpoints on the components that affect valuations, including capital availability, the strength of operating fundamentals, the health of the economy and its impact on sustainable growth. Case studies from all sectors of seniors housing and care—including independent living, assisted living, skilled nursing and continuing care retirement communities—will be presented to illustrate the panelists’ perspectives.

m o d e r AT o r :

Laurent X. de Marval, Managing Director,CS Capital Advisors, LLC

s p e A k e r s :

•Tony Crooks, Director, AEW Capital Management

•John Mark Ramsey, Chief Executive Officer, Servant Healthcare Investments, LLC

•Matt Whitlock, Senior Vice President, CB Richard Ellis

Medicaid Funding and the Future of Skilled Nursing Properties

State budgets are facing increasing pressure as the cost of long-term care continues to escalate, and state Medicaid systems across the country are evaluating creative solutions—including home and community-based programs—to meet the growing demand for long-term care services. So what does this mean for the future of Medicaid funding for skilled nursing? Find out as this diverse panel of experts debates this topic in a Q&A format. The different perspectives of these industry professionals will disclose unique insights about policy initiatives and the impact of budget constraints, and what these trends mean for the industry.

m o d e r AT o r :

Rick Matros, CEO, Sun Healthcare Group

s p e A k e r s :

•Dan Mendelson, President & CEO, Avalere Health, LLC

•Hedy S. Rubinger, Partner, Arnall Golden Gregory, LLP

•Stuart H. Shapiro, M.D., President & CEO, Pennsylvania Health Care Association

SA

VE

TH

E D

AT

E


SA

VE

TH

E D

AT

E


The Regional Symposium will again be co-located with NIC’s National Skilled Nursing Investment Forum, to be held March 8-10, following the Symposium.

Visit www.nic.org/snif for more information.

Get ready to hear a new set of rules for winning in today's market.The playing field has changed for the seniors housing industry, and your strategies must also change if you want to score future success. At the 2011 NIC Regional Symposium March 7-8, 2011, in Los Angeles, you'll gather with other private-pay operators with local and regional portfolios and investors to learn how you can adapt your playbook to position your team to take advantage of opportunities today and in the future. Whether you have 3 or 30 properties, this event will show you how to approach the industry's current challenges—and come out a winner!

Learn the latest tactics for increasing your bottom line. Whether you need to attract more customers, revitalize a property or improve expense management, the strategies presented in this year's Symposium will help you enhance your long-term growth.

Discover fresh tactics for financing new opportunities. Lenders have changed their lending programs, and this change isn't temporary. Join us to learn how to bring your best game to capital providers and win financing from lenders who are actively originating and closing seniors housing deals.

Visit www.nic.org/symposium for more information.

Registration will open early October 2010

New opportunities, New realities: What’s in your playbook?

2011 NIC Regional Symposium

March 7–8, 2011Hyatt Regency Century PlazaLos Angeles, CA

2011 NIC National Skilled Nursing Investment ForumThe Future of the Skilled Nursing Sector: Strategies for Survival & Success in Fiscal Uncertainty

The Forum will again be co-located with the Regional Symposium - NIC’s networking and educational event for private-pay seniors housing operators and capital providers, to be held March 7-8.

Visit www.nic.org/symposium for more information.

Discover how adapting now can ensure future prosperity.

The modern day skilled nursing industry has come a long way from that of the past, but how do you adapt to survive the current fiscal uncertainty? If you want to survive and thrive despite today’s challenges, join other skilled nursing care providers at the 2011 National Skilled Nursing Investment Forum hosted by NIC March 8-10, 2011, in Los Angeles. This two day forum will show you how to modernize your facilities, strategies, culture and thinking to attract today’s customer with demonstrated quality and find the best financial partner to position your company for growth amid adversity.

The future will create opportunities for the skilled nursing provider to flourish – as long as you're willing to adapt to the changing current. Or perish – if you’re unwilling to change.

Join us to network with the industry’s premier lenders and providers at this one-of-a-kind event designed with your business in mind.

Visit www.nic.org/snif for more information.

March 8-10, 2011Hyatt Regency Century Plaza Los Angeles, CA

Registration will open early October 2010Complete the post-conference survey, emailed following the conference, and receive $25 o� your Forum registration fee.

HO

TE

L F

LO

OR

PL

AN

S


HO

TE

L F

LO

OR

PL

AN

S


HO

TE

L F

LO

OR

PL

AN

S


HO

TE

L F

LO

OR

PL

AN

S


NO

TE

S


NO

TE

S

September 22-24, 2010, Sheraton Chicago Hotel & Towers III

Documents

20th Anniversary Final Program - National Investment … · T A B L E O F C O N T E N T S 2 The 20th Anniversary NIC Conference S C H E D U L E September 22-24, 2010, Sheraton Chicago