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INVENTORY ANDCONSTRUCTION

REPORT

3rd Quarter 2010

Las Vegas, NV

www.nicmap.orgNational Investment Center for the Seniors Housing & Care Industry

SAMPLE REPORT

TABLE OF CONTENTS

3Construction_________________________________________________

4Inventory____________________________________________________

5Inventory Listing______________________________________________

7Construction Listing___________________________________________

8Glossary_____________________________________________________

WELCOME TO NIC MAP®This is the 3Q10 Inventory and Construction Report of the quarterly census of seniors housing and nursing care properties within the 100 largestMSAs in the U.S. The data reported by NIC MAP includes more than 1,600,000 units and beds in properties that generally have at least 25 units orbeds and are market rate.

While the overall data are highly representative of actual results, certain cross tabulations may provide small response sizes which are highlysensitive to extreme measures of lower and upper magnitudes and prudence should be exercised regarding those measures.

If you have any suggestions on how to improve this data service, contact Michael Hargrave, Vice President-NIC MAP, at 410-267-0504 or by email [email protected].

NOTE: Data are subject to historical correction and updating. Data published during the current quarter represent the most accurate data available.

Dissemination of this report in whole or part outside of the company that holds the license is strictly prohibited. Any such dissemination or other inappropriate use mayresult in license termination. Any questions on proper use should be directed to Michael Hargrave at [email protected] or 410-267-0504.

Cover photographs courtesy of: Brookdale® Senior Living

2010 NIC MAP Data & Analysis ServiceCopyright © 2NIC MAP® Inventory and Construction Report - 3Q10Las Vegas, NV

SAMPLE REPORT

CONSTRUCTION BY PROPERTY TYPE

1. Includes all units/beds in properties under construction with a majority of independent living service units, includingCCRCs.

2. Data included are formed from subsets of majority il, majority al, and majority nc property types. These data are brokenout for your convenience.

3. Includes all units/beds in properties under construction with a majority of assisted living service or memory care serviceunits, including CCRCs.

4. Includes all units/beds in properties under construction with a majority of nursing care service beds, including CCRCs.

MAJORITY IL CCRC

MAJORITY AL MAJORITY NC

1 2

3 4


SAMPLE REPORT

INVENTORY

6.5%6.5%Penetration

0.0%0.0%Construction vs. Inventory

1919Property Count

3,3303,330InventoryMajority NC

2.7%2.7%Penetration


1616Property Count

1,3841,384Inventory Majority AL

4.0%4.0%Penetration


1212Property Count

2,0292,029Inventory Majority IL

6.7%6.7%Penetration

2828Property Count

3,4133,413InventorySeniors Housing

MSAClark

SELECTED SUBMARKET INVENTORY

2. Only includes data for properties reporting unit mix.

100.0%100.0%100.0%100.0%Total

.1%2.4%0.0%.3%3 BR+

4.9%35.4%37.8%19.2%2 BR

20.8%37.8%21.7%49.2%1 BR

74.3%24.4%40.6%31.3%Studio

Majority ALEFRentalMajority IL

CCRCs

UNIT MIX2

1. Only includes properties reporting the year opened.

100.0%32.7%14.4%29.6%23.3%0.0%Majority NC

100.0%0.0%7.4%67.3%18.2%7.1%Majority AL

100.0%6.0%13.2%45.6%35.1%0.0%Majority IL

Total>=2517<2510<172<100<2

PROPERTY TYPE MIXINVENTORY DISTRIBUTION BY AGE1

3

3. Submarket counts or values may not necessarily add up to the MSA total because only selected submarkets are shown.


SAMPLE REPORT

INVENTORY LISTING

TotalBed

s3 BR2 BR1 BRStudio3 BR2 BR1 BRStudioCorporate OwnerTypeTypeYear OpenPhone NumberAddressProperty Name

NCAL/MC UnitsIL UnitsPrimaryContract

PrimaryPayment

Majority IL16500000075900BPM Senior LivingRent2004(702)942-87008630 W Nevso Dr Las Vegas, NV 89146Acacia Springs

116000000383840Orion/StarwoodRent1991(702)369-15524330 South Eastern Avenue Las Vegas, NV 89119Destination at Eastern

82000000185212Pinnacle Health Care ServicesRent2002(702)258-75723900 West Oakley Blvd Las Vegas, NV 89102Destinations at Oakey

344000000882560NoneRent1995(702)259-66871600 South Valley View Rd. Las Vegas, NV 89121Destinations at Valley View

15200032300125919Brookdale Senior Living Communities, Inc.Rent1987(702)732-28006650 West Flamingo Road Las Vegas, NV 89103Grand Court Las Vegas

14100005304678BPM Senior LivingRent1999(702)360-60238720 W Flamingo Road Las Vegas, NV 89147Heritage Club Las Vegas

3066000060687930Greystone Communities, Inc.EF2004(702)360-266210401 West Charleston Blvd Las Vegas, NV 89135Las Ventanas

1710000003912012Holiday Retirement Corp./Colson & ColsonRent1995(702)435-31503150 East Tropicana Avenue Las Vegas, NV 89121Montara Meadows

12200000043187Seniority, Inc.Rent1981(702)732-06524255 Spencer Street Las Vegas, NV 89119Oak Hill Senior Living

1230001241002941Atria Retirement and Assisted LivingRent1997(702)256-65003250 South Fort Apache Road Las Vegas, NV 89101Sunlake

1470002031004056Atria Retirement and Assisted LivingRent1997(702)436-90003185 East Flamingo Road Las Vegas, NV 89121Sutton

400000400000Rent2003(702)614-87332910 West Horizon Ridge Parkway Henderson, NV 89052The Palms at Sienna

Majority AL520000520000Aegis LivingRent2000(702)240-30709100 West Desert Inn Road Las Vegas, NV 89117Aegis of Las Vegas

134000111230000Senior Management Services of America IncRent1999(702)233-98002620 Lake Sahara Drive Las Vegas, NV 89117Chancellor Gardens of the Lakes

620000620000Emeritus Assisted LivingRent1998(702)451-78963025 E Russell Road Las Vegas, NV 89120Emeritus at Las Vegas

79002526280000Sunrise Senior LivingRent2008(703)273-75001555 W Horizon Pkwy Henderson, NV 89012Henderson, Sunrise of

880000880000Glen AmadoorRent1995(702)384-7673100 S 14th Street Las Vegas, NV 89101Margaret Rose Care Center

98000000000Merrill Gardens, L.L.C.Rent2009(702)568-79001935 Paseo Verde Parkway Henderson, NV 89012Merrill Gardens at Green Valley Ranch

7500215580000Prestige Care IncRent2000(702)564-17711050 E Lake Mead Pkwy Henderson, NV 89015Prestige Assisted Living at Henderson

9800432620000Prestige Care IncRent1998(702)260-84002520 Wigwam Parkway Las Vegas, NV 89101Prestige at Mira Loma

730101710000BPM Senior LivingCRent2006(702)436-64003985 South Pearl Street Las Vegas, NV 89121Regency Palms Assisted Living

1260042738062130Atria Retirement and Assisted LivingRent2000(702)804-68002000 North Rampart Blvd Las Vegas, NV 89128Seville

7500836310000Preston Family, TheRent1998(702)369-69642205 East Harmon Avenue Las Vegas, NV 89119The Bridge Assisted Living of Paradise Valley

10200001020000IndividualRent1992(702)992-00002620 Robindale Road Henderson, NV 89074The Cottages of Green Valley

7000215530000Volunteers Of America Care FacilitiesRent1999(702)294-87201401 Medical Park Drive Boulder City, NV 89005The Homestead of Boulder City Inc

520000520000Sunwest Management IncRent1994(702)262-66908880 West Tropicana Avenue Las Vegas, NV 89147Waterfield Memory Care Community

10000865270000Don Herman ConstructionRent2000(702)396-17003890 North Buffalo Las Vegas, NV 89129Willow Creek at Buffalo

1000000140000Don Herman ConstructionRent2008(702)222-36008374 Capovilla Ave Las Vegas, NV 89113Willow Creek at San Martin

Majority NC24224200000000Delmar Gardens Enterprises IncRent1989(702)361-6111100 Delmar Gardens Drive Henderson, NV 89014Delmar Gardens of Green Valley

13813800000000FundamentalRent1973(702)382-5580660 Desert Lane Las Vegas, NV 89106Desert Lane Care Center

14314300000000El Jen Healthcare CenterRent1970(702)645-26065538 W Duncan Drive Las Vegas, NV 89130Eljen Convalescent Hospital

26626600000000FundamentalRent1983(702)565-85551180 E Lake Mead Drive Henderson, NV 89015Henderson Healthcare Center

11211200000000RfmsRent1998(702)346-7666272 Pioneer Blvd Mesquite, NV 89027Highland Manor - Mesquite

797900000000Kindred HealthcareRent1964(702)735-58482832 S Maryland Parkway Las Vegas, NV 89109Las Vegas Healthcare and Rehabilitation Center

23923900000000Life Care Centers Of AmericaRent1991(702)648-49006151 Vegas Drive Las Vegas, NV 89108Life Care Center of Las Vegas

22522500000000Tutera CorporationRent2001(702)804-30008501 Del Webb Blvd Las Vegas, NV 89134Manor Health Care Center

20820800000000Preferred Care PartnershipRent1999(702)644-77772860 E Cheyenne North Las Vegas, NV 89030Mission Pines Nursing & Rehab

868600000000FundamentalRent1985(702)293-5151601 Adams Blvd Boulder City, NV 89005Mountainview Care Center At Boulder City

18018000000000Nevada StateRent2002(702)332-6864100 Veterans Memorial Drive Boulder City, NV 89005Nevada State Veterans Home - Boulder City

18018000000000State of NevadaRent2002Unavailable100 Veterans Memorial Dr Boulder City, NV 89005Nevada Veteran''s Nursing Home

18218200000000FundamentalRent1966(702)649-78003215 E Cheyenne Ave North Las Vegas, NV 89030North Las Vegas Care Center

11811800000000Covenant CareRent1997(702)952-22733450 N Buffalo Drive Las Vegas, NV 89129Silver Hills Health Care Center

10010000000000Pleasant Care CorpRent1970(702)386-79802035 W Charleston Blvd Las Vegas, NV 89102St. Joseph's Transitional Rehab Center

19019000000000Skilled Healthcare GroupRent2005(702)515-620010550 Park Run Drive Las Vegas, NV 89144The Heights of Summerlin

3681880682840001133Emeritus Assisted LivingRent1998(702)658-58826031 West Cheyenne Ave Las Vegas, NV 89108The Plaza at Sun Mountain

17917900000000TLC ManagementRent1998(702)547-67001500 W. Warmsprings Rd Henderson, NV 89104TLC Care Home


SAMPLE REPORT

INVENTORY LISTING

TotalBed

s3 BR2 BR1 BRStudio3 BR2 BR1 BRStudioCorporate OwnerTypeTypeYear OpenPhone NumberAddressProperty Name

NCAL/MC UnitsIL UnitsPrimaryContract

PrimaryPayment

959500000000Kindred HealthcareRent1965(702)871-00051701 S Torrey Pines Drive Las Vegas, NV 89146Torrey Pines Care Center


SAMPLE REPORT

AnticipatedOpen Date

NC BedsAL UnitsIL UnitsCorporate OwnerPayment

TypeConstruction

TypeProperty TypeSubmarketAddressProperty Name

CONSTRUCTION LISTING

Majority AL1/1/20110900RentNewFreeStandingClark6741 North Decatur Blvd Las Vegas, NV 89130Silver Sky at Deer Springs Assisted Living


SAMPLE REPORT

GLOSSARYThe arrangement of the units and/or buildings of the property.CAMPUS TYPE

A property offering at least two types of service and where IL and NC are not jointly offered, e.g. a combined AL and NC property. Combined Campus

Continuing Care Retirement Communities (CCRCs) must include IL units and NC beds, but usually offer AL and MC as well.There are two payment types tracked by MAP for these properties, rental and entrance fee. Properties with a multi-yeardevelopment schedule that will add nursing care services in the future are classified as CCRCs, even though they may only offerIL services at present.

CCRCs

A property offering a single type of service, e.g. exclusively independent living services only. Free-standing Campus

The number of units/beds under construction divided by the number of units/beds currently in the market.Construction vs. Inventory (%)

A contract between an independent living resident and a property guaranteeing a care structure if additional care is needed aswell as future payments for the increased level of care.

CONTRACT TYPE

A contract, between an independent living resident and a property that offers a continuum of care, that covers long-term care(assisted living or nursing care) without any substantial increase in the residents’ monthly payments.

Type A

A “modified” contract, between an independent living resident and a property that offers a continuum of care, that covers aspecified amount of long-term care (assisted living or nursing care) during a set period of time without a substantial increase inresidents’ monthly payments, or at a discounted rate indefinitely.

Type B

A fee-for-service contract, between an independent living resident and a property that offers a continuum of care. If such care isneeded, it is paid at the daily rate.

Type C

A rental contract between an independent living resident and a property, that offers no guaranteed access to health careservices. There is no entrance fee, and monthly fees cover the cost of maintaining the unit.

Type D

The amount of units/beds that are under construction in the current quarter. Units and beds are treated as equals.Current Construction (units/beds)

The sum of the current number of units/beds, where one IL, AL or MC units is equivalent to one NC bed.Inventory (units/beds)

A geographic area defined by the U.S. Census Bureau that encompasses the territory in and around a major city, which with itseconomically-related areas has population of at least 50,000 persons.

Metropolitan Statistical Area (Metro Market)

The payment plan by which residence and services are paid for.PAYMENT TYPE

A property that charges a lump sum amount of money paid by a resident at the beginning of their stay that provides the right tooccupy the residence. Properties generally charge at least $20,000 for this lump sum payment. This type of property generallycharges a monthly fee in addition.

Entrance Fee (EF)

A property that charges the residents for their residence and services primarily on a lease basis. Rental

The number of units/beds divided by the number of households, generally the number of age 75+ households, unless otherwisenoted.

Penetration (%)

The building or buildings and grounds that house the residents, and common areas shared by the residents. Propertiesincluded in the NIC MAP database generally include at least 25 units/beds and are market rate. Properties are listed asmajority independent living, majority assisted living, or majority nursing care.

PROPERTY TYPE

An aggregated property category containing properties with a majority of independent living units and also properties with amajority of assisted living units.

Seniors Housing (SH)

A property which has a majority of independent living service units. This can include freestanding IL, IL/AL combination,IL/AL/MC combination, IL/MC combination, and CCRCs. IL properties typically include services such as communal dining,housekeeping, transportation, emergency call and social programming services in the monthly fee.

Majority Independent Living (IL)

2010 NIC MAP Data & Analysis ServiceCopyright © 8NIC MAP® Inventory and Construction Report - 3Q10

SAMPLE REPORT

GLOSSARYA property which has a majority of assisted living or memory care service units. This can include freestanding AL, freestandingMC, AL/MC combination, IL/AL combination, IL/MC combination, IL/AL/MC combination, AL/NC combination, MC/NCcombination, and CCRCs. Residents receive personal care services such as assistance with bathing, dressing, eating, walkingand toileting. Twenty-four hour protective oversight is provided, but twenty-four hour medical care is not. The assisted livingproperties included in NIC MAP are only those market rate properties where 80 percent or more of the residents are 55 years orolder.

Majority Assisted Living (AL)

A property which has a majority of nursing beds, where one nursing bed is treated in MAP as equivalent to one unit. This caninclude freestanding NC, AL/NC combinations, AL/MC/NC combinations, and CCRCs. A majority NC property is generally alicensed long-term health care and residential property that serves persons who require constant medical supervision and/orwho require significant physical assistance in transferring, management of continence and use of medical devices. The NICMAP database does not include properties that are limited to sub acute, properties limited to inpatient based, properties thatare hospital based, or properties predominantly rehabilitation facilities where people come for short-term stays for nursing care.

Majority Nursing Care (NC)

Levels of care and services provided by the property. This can also be referred to as segment or service type units/beds. Oneunit of IL, AL or MC is equivalent to one NC bed.

UNIT TYPE

The part or section of the property that provides independent living services. Independent Living Units

The part or section of the property that provides assisted living services, not including memory care services. Assisted Living Units

The part or section of the property that provides services to persons with Alzheimer’s disease or other form of dementia. Theseare generally separate or secured areas, with specific programming for persons with memory impairment in addition to servicesprovided for persons in assisted living.

Memory Care Units (MC)

The part or section of a property that only provides nursing care services. Nursing Care Beds

2010 NIC MAP Data & Analysis ServiceCopyright © 9NIC MAP® Inventory and Construction Report - 3Q10

SAMPLE REPORT

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