ACQUISITIONS

Kisco is actively seeking growth opportunities in senior living. Our focus is to acquire existing communities or develop ground-up communities offering a full continuum of care, including CCRCs, independent living, assisted living, and memory care in select markets. We will consider joint venture opportunities with home builders, master plan developers, landowners, public municipalities, debt holders, and health care providers. Our general acquisition and development criteria are as follows:

GEOGRAPHIC FOCUS AREAS

Metro areas of California, Florida, Utah, North Carolina, District of Columbia, Virginia, and Maryland, with other states considered on a case-by-case basis.

GENERAL MARKET PREFERENCES:

• High barrier to entry and/or limited competition
• Close proximity to diverse amenities such as health care, recreation, entertainment, and shopping/retail
• Strong employment base
• Established neighborhoods
• NIC MAP Primary Markets
• Please note other market areas may also be considered based on additional criteria and/or other special factors.

KEY DEMOGRAPHIC FACTORS:

• Total population: >500K
• Blended median household income (all age cohorts)
• Educational attainment levels
• Median home values

ACQUISITION CRITERIA: EXISTING SENIOR LIVING COMMUNITIES

• Campus setting with independent living, assisted living, and memory care; and CCRCs
• Minimum apartment count: 150
• Community preferences:
• Superior architecture and construction
• Class “A” communities built post-1995, with a residential atmosphere and apartment style, (not small rooms in an institutional environment)
• Average apartment sizes greater than 400 square feet
• Communities must be of a standard in which we would feel very comfortable if our family members moved in

DEVELOPMENT SITE CRITERIA: GROUND-UP CONSTRUCTION

• Property size: 200+ apartment yield
• Site zoning: If not zoned appropriately, zoning approvals as a closing condition
• Top-tier rankings for key demographic and market factors

We will consider potential sites outside of our general criteria if the opportunity is compelling.

Kisco Senior Living is a privately held, family-owned company with a proven track record for being able to make definitive decisions and close transactions quickly if the opportunity warrants it. We are eager to hear from principals or their representatives about properties that meet our investment criteria. We promise complete confidentiality and prompt response as to whether or not we are interested. Additionally, we require an offering price for every opportunity. We don’t want to waste our time, or that of the seller, even preliminarily, regarding a transaction when the price is unknown.

CONTACTS:

Cullen Bautch, Investment Analyst
Gillian Freeman, Director of Investments