ASHA 50American The 50 largest Seniors Housing U.S. seniors housing Association real estate owners 2015 and operators Special supplement to ■ Seniors Housing Business ■ Heartland Real Estate Business ■ Northeast Real Estate Business ■ Southeast Real Estate Business ■ Texas Real Estate Business North Shore Place, Northbrook, IL ■ Western Real Estate Business Photo Courtesy of Senior Lifestyle Corporation, Chicago, IL Reliable, Customized Capital Solutions to Meet Your Needs Ventas, an S&P 500 company, has a well-earned reputation for bringing both creativity and financial strength to completing transactions of any size and complexity. SENIORS HOUSING | MEDICAL OFFICE BUILDINGS | HOSPITALS | SKILLED NURSING FACILITIES | VENTASREIT.COM Healthcare SIGNS OF LONG-TERM SUCCESS Capital One® understands that senior and long-term care facilities require customized solutions for their fi nancing needs. Our depth of knowledge ensures concrete results, while a team of experts guides you through the lending process, pointing the way to success. Keith Kodrin Joshua Rosen Balance Sheet Lending Agency Lending (301) 280-0207 (312) 350-4236 [email protected] [email protected] All loans subject to credit approval. Terms and conditions apply. Products and services offered by Capital One, N.A., Member FDIC. © 2015 Capital One. All rights reserved. capitalone.com/commercial CCB151007NY_Healthcare_ASHA.indd 1 8/20/15 11:51 AM HEALTHCARE AD SENIOR HOUSING BUSINESS - ASHA SUPPLEMENT CLIENT Capital One ( NY ) APPROBATION CCB151007NY_2_Healthcare_ASHA CREATED August 19, 2015 1 MAC PRODUCER ACCOUNT CREATIVE David Niblick (NY) Amelia MacGregor ARTIST Hilary Guilliams ( NY ) Reid Miller ( NY ) TAXI NY INSERTION MAGAZINE Senior Housing Business - ASHA Supplement 2015 230 Park Ave South, DATE(S) 12th Floor, New York, NY DPS TRIM 7.75 x 10.75 in. LIVE 7.5 x 10.5 in BLEED 8 x11 in SPS USA 10003 / SPS T: 212.414.8294 COLOURS CYAN MAGENTA YELLOW BLACK F: 212.414.8444 I I I I MAGAZINE INFO Job Numbers: CCB151007NY_2_Healthcare_ASHA– 280 Max Density XXXX All colours are printed as process match unless indicated otherwise. Please check before use. In spite of our careful checking, errors infrequently occur and we request that you check this proof for accuracy. TAXI’s liability is limited to replacing or correcting the disc from which this proof was generated. We cannot be responsible for your time, film, proofs, stock , or printing loss due to error. 2015 ASHA50 Contents The 2015 ASHA 50 Top 50 Owners 6 This special edition of Seniors Hous- sidies, single-family homes, hotel Top 50 Operators 8 ing Business features the Ameri- rooms, stand-alone skilled nursing ASHA 50 Survey Highlights 10 can Seniors Housing Association beds, or mobile home units and (ASHA) 22nd annual compilation of pads are not included. Q&A with Larry Cohen: our industry’s authoritative ranking Additionally, the ASHA 50 A Steady Hand of the nation’s largest seniors hous- rankings do not include properties at Industry Helm 14 ing owners and operators. where more than 30% of the units ASHA Executive Committee 20 To ensure the accuracy of the are licensed for skilled nursing. 2015 ASHA 50, ASHA assembled Respondents were requested not ASHA Executive Board 22 a list of prospective ranked compa- to report properties owned indi- ASHA Advisory Committee 34 nies from every available source. rectly through ownership of shares A senior officer from each firm in another company and were ASHA Associate Members 37 was asked to provide their current instructed not to include proper- ASHA Staff and Counsel 44 holdings as of June 1, 2015. Data ties leased from other owners for was also used from outside sources purposes of calculating the ASHA Walk to End Alzheimer’s 46 deemed reliable, such as public 50 owners list. filings. The ASHA 50 was compiled About ASHA 48 Companies listed in the ASHA and analyzed by Krystalle Campo ASHA Meetings 49 50 are not required to be members and David Schless of ASHA, who of ASHA, although most firms that express their appreciation to the 2016 ASHA Annual Meeting 50 appear in this year’s rankings are industry leaders for their partici- ASHA Bookstore 53 ASHA members. pation in this annual effort. Special For purposes of this survey, thanks to Lisa McCracken of Ziegler Seniors Housing PAC 55 seniors housing units include inde- Investment Banking for her valu- pendent living units and assisted able assistance. Seniors Housing Public Policy Outlook 56 living units, as well as memory In addition to the ASHA 50 care/Alzheimer’s units and skilled rankings and analysis of the results, ASHA’s New Consumer nursing beds, which are part of a this section includes ASHA member Education Website 58 larger retirement living complex profiles, a listing of the leadership, (such as a CCRC), and include members and employees. rental, entrance fee units designed and operated exclusively for adults For those readers interested in more aged 55 years and over. information about the American Units where residents receive Seniors Housing Association, visit Section 8 or equivalent rental sub- www.seniorshousing.org. Living Longer Better The 2015 ASHA 50 is a publication of American Seniors Housing Association 5225 Wisconsin Avenue, Suite 502 Washington, DC 20015 www.seniorshousing.org The 2015 ASHA 50 is published in cooperation with France Media, Inc. © 2015 France Publications, Inc. d/b/a France Media, Inc. The opinions and statements made by authors, contributors and advertisers herein are not necessarily those of the editors and publishers. 4 2015 ASHA 50 Standardize on a one-vendor, all-business platform for transparent and efficient community management and a lower total cost of ownership. ERIC KOLBER Vice President, Yardi Senior Living GAME CHANGING INNOVATION YA R D I Senior Living SuiteTM Replace multiple systems with the senior living industry’s only platform with integrated solutions for each phase of community management, including marketing, leasing, and resident care. Social. Mobile. Smart. To learn more, call 800.866.1144 or visit www.yardi.com/seniorliving. 2015 ASHA50 2015 ASHA 50 Owners 50 Largest U.S. Seniors Housing Owners as of June 1, 2015 2015 Chief 2015 2015 Rank Company Headquarters Executive Properties Units 1 Brookdale Senior Living Brentwood, TN T. Andrew Smith 976 82,356 2 Ventas Inc. Chicago, IL Debra Cafaro 785 69,708 3 Health Care REIT Inc. Toledo, OH Thomas DeRosa 611 59,786 4 HCP Inc. Irvine, CA Lauralee Martin 491 49,731 5 Senior Housing Newton, MA David Hegarty 297 34,772 Properties Trust 6 Boston Capital Boston, MA Jack Manning 486 29,741 7 NorthStar Healthcare New York, NY James Flaherty, III 209 17,514 8 Senior Lifestyle Corporation Chicago, IL Jon DeLuca 176 16,685 9 New Senior New York, NY Susan Givens 124 14,838 Investment Group 10 Holiday Retirement Lake Oswego, OR Kai Hsiao 114 13,768 11 Harrison Street Chicago, IL Michael Gordon 107 12,359 Real Estate Capital 12 National Health Murfreesboro, TN Eric Mendelsohn 103 8,678 Investors (NHI) 13 Highridge Costa Companies Gardena, CA Michael Costa 84 8,402 14 ACTS Retirement-Life West Point, PA J. Mark Vanderbeck 21 7,982 Communities Inc. 15 Enlivant Chicago, IL Jack Callison 177 7,829 16 American House Bloomfield Hills, MI Dale Watchowski 61 7,002 Senior Living Communities 17 Presbyterian Roseville, MN Daniel Lindh 38 6,837 Homes & Service 18 Brightview Senior Living Baltimore, MD Marilynn Duker 60 6,750 19 Capital Senior Living Dallas, TX Lawrence Cohen 68 6,718 Corporation 20 Erickson Living Baltimore, MD R. Alan Butler 8 5,787 21 CNL Healthcare Properties Orlando, FL Steve Mauldin 59 5,627 22 LTC Properties Inc. Westlake Village, CA Wendy Simpson 100 5,414 23 Westminster Communities Orlando, FL Roger Stevens 19 5,413 of Florida 24 Pacifica Senior Living San Diego, CA Deepak Israni 54 5,265 25 Hawthorn Retirement Vancouver, WA Patrick Kennedy 43 5,236 Group LLC 6 2015 ASHA 50 2015 50ASHA 2015 ASHA 50 Owners 50 Largest U.S. Seniors Housing Owners as of June 1, 2015 2015 Chief 2015 2015 Rank Company Headquarters Executive Properties Units 26 Sabra Health Care REIT Inc. Irvine, CA Richard Matros 54 5,198 27 USA Properties Fund Inc. Roseville, CA Geoffrey Brown 36 5,110 28 Covenant Retirement Skokie, IL Terri Cunliffe 15 4,865 Communities Inc. 29 LCS Des Moines, IA Edward Kenny 28 4,787 30 Benchmark Senior Living Wellesley, MA Thomas Grape 50 4,587 31 The Evangelical Lutheran Sioux Falls, SD David Horazdovsky 25 4,446 Good Samaritan Society 32 Lifespace Communities Des Moines, IA Sloan Bentley 12 4,084 33 Kayne Anderson Boca Raton, FL Al Rabil 17 3,878 Real Estate Advisors 34 The Kendal Corporation Kennett Square, PA John Diffey 12 3,729 35 Vi Living Chicago, IL Randal Richardson 10 3,577 36 ARC Healthcare Trust II New York, NY Todd Jensen 49 3,560 37 Lutheran Senior Services St. Louis, MO John Kotovsky 11 3,406 38 Belmont Village Senior Living Houston, TX Patricia Will 24 3,390 39 Spectrum Retirement Denver, CO Jeffrey Kraus & 28 3,339 Communities LLC John Sevo 40 Merrill Gardens Seattle, WA David Eskenazy 28 3,286 41 Presbyterian Senior Living Dillsburg, PA Stephen Proctor 20 3,120 42 Sunshine Retirement Living Bend, OR James Matthews 23 3,117 43 Five Star Senior Living Newton, MA Bruce Mackey, Jr. 31 3,064 44 Cornerstone Affiliates Pleasanton, CA David Ferguson 11 3,057 45 Vintage Senior Living Newport Beach, CA Brian Flornes 23 3,056 46 Lytle Enterprises Bellevue, WA Charles & Karen Lytle 19 3,027 47 Ohio Presbyterian Columbus, OH Laurence Gumina 12 2,986 Retirement Services 48 ROC Seniors Housing Orlando, FL Robb Chapin 28 2,978 Fund Manager 49 Pacific Retirement Services Medford, OR Brian McLemore 9 2,826 50 Asbury Communities Germantown, MD Doug Leidig 5 2,780 2015 ASHA 50 7 2015 ASHA50 2015 ASHA 50 Operators 50 Largest U.S.