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The National Investment Center for Seniors Housingand Care (NIC) is a 501(c)(3) organization whose missionis to advance the quality and availability of seniors housingand care options for America's elders through research,education and increased transparency that facilitateinformed investment decisions, quality outcomes andleadership development in seniors housing and care.

SAVE THE DATES25th NIC National ConferenceInvesting in Seniors Housing and CareSeptember 30 - October 2, 2015Gaylord National, Washington, DC

NIC 2016 Capital & Business Strategies ForumA Conference for Small/Mid-Cap Operators in SeniorsHousing and Post-Acute CareMarch 9-11, 2016Omni Dallas Hotel, Dallas, TX

26th NIC National ConferenceInvesting in Seniors Housing and CareSeptember 14-16, 2016Marriott Marquis Washington, Washington, DC

A B O U T N I C

1997 Annapolis Exchange Parkway, Suite 480Annapolis, MD 21401Phone: (410) 267-0504

www.nic.org

#NICFORUM15

N

National Investment Centerfor Seniors Housing & Care

A Conference for Small/Mid-Cap Operators in Seniors Housing and Post-Acute Care

MARCH 31-APRIL 2 , 2015 | SAN DIEG O, CA

whereconnections

lead to business

NIC 2015 CAPITAL & BUSINESS STRATEGIES FORUM

F I N A L P RO G R A M

#NICFORUM15


NIC Gratefully Acknowledges our 2015 Forum Planning Committee

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TAB L E O F C ON T EN TS

Schedule at-a-Glance 4

Educational Program 6

Sessions at-a-Glance 8

Attendee Resources and Services 10

Daily Program Schedule…Tuesday 16

Daily Program Schedule…Wednesday 24

Daily Program Schedule…Thursday 42

2015 Forum Planning Committee 51

eareniors Housing & Cor Sfertent Cestmenvntional INa

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COMMUNITYNLINE O

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Charles J. Herman, President, Seniors Housing and Post-Acute, Health Care REIT, Inc. Chair

Kenneth Segarnick, Chief CorporateOfficer, Brandywine Senior Living Co-Chair, Seniors Housing

Doug Korey, President, Lancaster PollardFinance Company, LLC, Co-Chair, Skilled Nursing

Dan Biron, Senior Vice President, Berkadia Chair, Education & Networking

Jennifer Berland, Partner, Hanson Bridgett

Peter Delmage, Senior Vice President,KeyBank Real Estate Capital

Sam Dendrinos,Managing Director, The PrivateBank

Donny Edwards, Partner, Covenant Group

John Getchey, Senior Vice President -Seniors Housing Investments, TeamLeader, Health Care REIT, Inc.

James Gomez, President/CEO, California Association of Health Facilities

Michael Jones, CEO/Principal, Healthtique Group

Joshua Kauffman, Senior Consultant,Compliagent

Richard Lerner, Partner, Housing & Healthcare Finance, LLC

James Levine,Attorney, Baker Donelson Bearman Caldwell &Berkowitz P.C.

Sophia Lukas, Executive Director,be.group

Kevin Maddron, Senior ManagingDirector, CNL

Sheryl Marcet, Managing Director, Aviv REIT

Joseph McCarron, Principal, Capital Care Associates LLC

Eric Mendelsohn, EVP CorporateFinance, National Health Investors

Ryan Novaczyk, President & CFO, New Perspective Senior Living

Torey Riso, Chief Executive Officer, Care Investment Trust LLC

Julie Robinson, Vice President,Acquisitions, Ventas, Inc.

Jason Smeck,Managing Director, RED CAPITAL GROUP

Thomas Stanley, Founder & Principal,Cascade Living Group

John Stasinos, Senior Vice President -Acquisitions & Valuations, HCP, Inc.

Mike Stephen, Senior Vice President -Marketing, Health Care REIT, Inc.

Dale Thompson, Past President, AHCA and Former CEO/Consultant,Benedictine Health System

Jim Thompson, Senior Director- Senior Housing Lending, Synovus Bank

Chris Urban, Managing Director,Ambrose Capital Group

Adam Zeiger, Senior Vice President, GE Capital, Healthcare FinancialServices

2 0 1 5 F ORUM P L ANN I NG COMM I T T E E

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TABLE OF CONTENTS | WELCOME

Welcome to the NIC 2015 Capital & Business Strategies Forum: A Conference for Small/Mid-Cap Operators in Seniors Housingand Post-Acute Care.We’re glad you can join us for three days ofnetworking and exploring strategic capital and business options.

We’ve expanded the networking resources and opportunities toinclude enhanced capabilities for you to connect in-person andthrough the Conference Online Community. You’ll also haveopportunity to meet with an array of technology start-ups focusedon the seniors market and learn more about cutting edgeinnovations from the top entrepreneurs in the industry.

We are excited to premier Capital Connections—a facilitatednetworking opportunity featuring capital providers “pitching”financial solutions that they are actively offering to capitalseekers. This new networking opportunity enables capitalseekers to efficiently learn about available finance options anddevelop new capital partners.

This year’s Forum includes three general sessions, 15 panel presentations and 18 peer-to-peer sessions on key issues:

• Reimbursement model shifts due to an increasing emphasis onfee-for-value

• Coordinated care initiatives involving seniors housing and post-acute providers

• Financing for private pay seniors housing and skilled nursingand post-acute care operators

• Finding the right seniors housing acquisition and integrating itinto your portfolio

• Growth and exit strategies for the smaller skilled nursingoperator

• SNF payment models, managed care contracts and streamlinedbilling and cash flow with managed care payers

• Developing new product types for middle-income private payseniors housing

• Obtaining equity for new seniors housing property development

The Forum is your chance to connect with peers and new contacts,gain and share sector knowledge and leave with takeaways forproviding superior seniors housing and post-acute care.

WELCOME

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TUESDAY, MARCH 31, 2015

11:00 AM – 7:00 PM Registration, Networking Lounges, NIC MAP® Data Service, Tech Bar

11:00 AM – 5:30 PM Headshot Lounge Relaxation Station

1:00 PM – 2:00 PM Concurrent Sessions


3:00 PM – 3:30 PM Networking Break

3:30 PM – 4:30 PM Concurrent SessionsCapital Connections

4:30 PM – 5:30 PM First-time Attendee Mixer (Invitation only)

5:30 PM – 7:00 PM Opening Reception

6:00 PM – 10:00 PM Evening Pedicab Service

WEDNESDAY, APRIL 1, 2015

7:00 AM – 7:00 PM Registration, Networking Lounges,NIC MAP® Data Service, Tech Bar

7:00 AM – 5:30 PM Headshot Lounge Relaxation Station

7:00 AM – 9:00 AM Continental Breakfast

7:30 AM – 8:30 AM Concurrent Sessions

8:45 AM – 10:00 AM Opening General Session withKeynote Speaker, Katy Fike, Ph.D.

10:00 AM – 10:30 AM Networking Break


11:45 AM – 1:15 PM Conference Luncheon with The Honorable Kathleen Sebelius

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SCHEDU L E AT- A - G L ANCE


THURSDAY, APRIL 2, 2015

7:00 AM – 11:30 AM Registration, Networking Lounges, NIC MAP® Data Service, Tech Bar



9:15 AM – 11:00 AM Closing General Session with Keynote Speaker Dr. Bruce Chernofand Responding Panel

WEDNESDAY, APRIL 1, 2015




3:00 PM – 4:15 PM Meet the Aging2.0Technology Start-ups


5:15 PM – 6:45 PM Networking Reception




EDUCAT I ONA L P ROGRAM

This year’s program offers insightful, relevant and

engaging educational content that is designed for

the small/mid-cap provider in the private pay

seniors housing and post-acute/long term care

sectors. More than 30 educational sessions

feature industry experts who will address key

issues and provide you the opportunity to gain

and share emerging knowledge on the sector.

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Learning Tracks Seniors Housing (SH):• Financing/Valuations• Supply and Demand• Middle-Income Products for Private Pay Seniors Housing

• Growth and Development• Technology

Skilled Nursing (SN/PA):• Financing/Valuations • Reimbursement Models of the Future• New Versus Old: How to Keep Older Properties Competitive

• Growth & Exit Strategies • Technology


EDUCATIONAL PROGRAM

KEY: LEARNING FORMATS/TRACKS ICON

Learning Formats

Learning formats are designed to enhance engagementand idea sharing with speakers, facilitators and peers.

• General Sessions – presentations by keynotespeakers

• Panel Sessions – presentations by a panel ofspeakers

• Single Presenter – presentation by one speaker • Peer-to-Peer Sessions – facilitated small groupdiscussions • Continue the Conversation sessions allowparticipants the opportunity to continue theconversation with each other on sessionpresentations

• New Topic sessions allow participants to explorekey issues and trends with each other

Continuing Education Units (CEUs)NIC has applied for CEU credit hours with the NationalAssociation of Long Term Care Administrator Boards(NAB). Please refer to the Conference OnlineCommunity for approved credit hours.


General Sessions

Panel Sessions

Peer-to-Peer Sessions

GS

PS

PP

SP Single Presenter

Seniors Housing

Skilled Nursing/Post-Acute

(SH)

(SN/PA)


Tuesday, March 31, 2015

1:00 PM – 2:00 PM Concurrent Sessions • Financing for Private Pay SeniorsHousing Operators

• Financing for Skilled NursingOperators

• A Primer on Investing in SeniorsHousing & Skilled Nursing

2:15 PM – 3:15 PM Concurrent Sessions • The Future of Skilled Nursing: The Investors Perspective

• The Latest in Supply and Demand:Trends and Headwinds

3:30 PM – 4:30 PM Concurrent Sessions• Peer-to-Peer: Continue theConversation

3:30 PM – 4:30 PM Capital Connections

Wednesday, April 1, 2015

7:30 AM – 8:30 AM Concurrent Sessions • Rising Acuity and the Impact onSeniors Housing Business Models

• Post-Acute Property Sales andAcquisitions: Transactions from aLegal Perspective

• Keeping Your Older Seniors HousingProperties Competitive

8:45 AM – 10:00 AM Opening General Session withKeynote Speaker Katy Fike, Ph.D.

10:30 AM – 11:30 AM Concurrent Sessions • Finding the Right Seniors HousingAcquisition Opportunity

• Growth and Exit Strategies for theSmaller Skilled Nursing Operator

• Dual Eligibles DemonstrationProgram: Update from StateExecutives

• The State of Innovation: TechnologyStart-ups and Seniors Housing andCare

• Developing Partnerships in the Post-Acute Sector: The ProvidersPerspective

• Human Resources: Legal Strategiesfor Seniors Housing and SkilledNursing Operators

SESS I ONS AT- A - G L ANCE

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1:30 PM – 2:30 PM Concurrent Sessions • SNF Payment Models: How toPrepare for the Future andSurvive in the Present

• Integrating Your Seniors HousingProperty Acquisition

• How to Obtain Equity for NewSeniors Housing PropertyDevelopment

• The Strategic Value of the “SmallHouse” Approach to Nursing Care

• Peer-to-Peer: Continue theConversation

3:00 PM – 4:00 PM Concurrent Sessions • Developing New Product Typesfor Middle-Income Private PaySeniors Housing

• How to Value a Skilled Nursing orSeniors Housing Property andHow to Find the Best Buyer

4:15 PM – 5:15 PM Concurrent Sessions • Peer-to-Peer: Continue theConversation

4:15 PM – 5:15 PM Capital Connections

Thursday, April 2, 2015

8:00 AM – 9:00 AM Concurrent Sessions • Trends and Strategies in SeniorsHousing Litigation andOperational Risk Management

• What to Do With Your AgingSkilled Nursing Property

• Seniors Housing Market Trendsand Influencing Factors

• Peer-to-Peer: Continue theConversation

9:15 AM – 11:00 AM Closing General Session with Keynote Speaker Dr. Bruce Chernof andResponding Panel

EDUCATIONAL PROGRAM



NETWORKING LOUNGESTwo networking lounges are available for use throughout theconference and provide comfortable places for attendees to conductmeetings. A NIC badge must be worn for access to these spaces.

n Odysea Networking LoungeThe Odysea Networking Lounge is centrally located and an idealspace to see and be seen.

Hours: Tuesday 11:00 AM – 5:00 PMWednesday 7:00 AM – 5:00 PMThursday 7:00 AM – 11:30 AM

Location: Indigo Level 2 Odysea Bar

n Indigo Networking LoungeIf you prefer a little more privacy or space to spread out, theIndigo Networking Lounge is the place to meet. This lounge hasample tables and space for business meetings.


Location: Indigo Level 2 Indigo Ballroom

CAPITAL CONNECTIONSNew this year, Capital Connections is a facilitated networking opportunity designed to:

• foster meaningful connections for financing and investingopportunities between small/mid-cap operators and thebroad range of capital sources present at the NIC Forum

• enable capital providers to present their financial servicestailored to the needs of small/mid-cap operators

• provide a user-friendly platform for small/mid-cap operators toexplore the wide array of capital solutions available to them

• offer opportunities for follow-up to those interested infurther developing a capital strategy tailored to their specificneeds with one or more of the capital providers.

See pages 23 and 41 for detailed information.

AT T ENDE E R E SOURCES AND S ER V I C E S

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CONFERENCE ONLINE COMMUNITY The Conference Online Community is where the most up-to-date conference information can be found. It’s mobiledevice-friendly so don’t forget to download the app – scan the QR code now and begin navigating theconference in a whole new way.

MEETING POINTSMeeting Points make meeting up easier! Save time locatingcolleagues by using this resource to identify meeting locationsthroughout the NIC conference space.

ATTENDEE LISTING The Attendee Listing in your conference bag includesattendees registered by February 27, 2015. To view the most up-to-date attendee information available, please visit theConference Online Community.

EVENT GUIDE TO INVESTORS The Event Guide to Investors is an additional resource toconnect operators seeking financing with debt and equitycapital providers in the sector. The guide includes companyprofiles and contact information for lenders, investors andfinancial intermediaries who registered and submitted theirinformation by February 18, 2015.

ATTENDEE RESOURCES AND SERVICES


CONFERENCEONLINE

COMMUNITY



NETWORKING RECEPTIONSn First-time Attendee Mixer (Invitation Only)Network with fellow attendees, meet NIC leadership, and hearsuggestions on how to make the most of the conference.

Hours: Tuesday 4:30 PM – 5:30 PMLocation: 30th Floor, Elevation Room

n Opening ReceptionHours: Tuesday 5:30 PM – 7:00 PMLocation: Sapphire Level 4, Ballroom Foyer

n Networking ReceptionHours: Wednesday 5:15 PM – 6:45 PMLocation: Sapphire Level 4,Ballroom Foyer

General InformationREGISTRATIONHours: Tuesday 11:00 AM – 7:00 PM

Wednesday 7:00 AM – 7:00 PMThursday 7:00 AM – 11:30 AM

NAME BADGE & LANYARD COLORSRed OperatorOrange DeveloperGreen Lender/Debt Provider, Investor/Equity

Provider, Financial IntermediaryBlack Industry Services /Transactional,

Non-Transactional, Other

Conference attendees are required to wear their name badgesthroughout the conference. Name badges provide admission to receptions, networking lounges, and sessions. Badges are not transferrable.

AT T ENDE E R E SOURCES AND S ER V I C E S ( C ON T )

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LOST AND FOUNDAny lost items may be available to claim at the NICRegistration desk located on the Indigo Level. NIC will secureitems until the end of the day and then turn them over to thehotel’s security.

EMERGENCY CONTACT INFORMATIONThe safety and security of attendees and staff is first priorityfor NIC and the Hilton San Diego Bayfront. For fire and medicalemergencies, dial extension 55 (Emergency Hotline) from anyhouse phone located in the hotel or (619) 564-3333 and beprepared to provide the nature and exact location of theemergency. We respectfully request that you do NOT call 911 directly.

PHOTOS AND VIDEOS As a conference participant, you agree to be included inphotographs that may be used for future publicity ormarketing materials.

WIRELESS INTERNET ACCESS During the conference, enjoy complimentary wireless interneton the Indigo, Aqua and Sapphire levels as well as the Odyseaand Indigo Networking Lounges.

Network: NICFORUM15 Password: VENTAS15

SPEAKER PRESENTATIONSAttendees can view and print concurrent session PowerPointpresentations in the Conference Online Community. Click onSchedule and Materials.

AUDIO RECORDINGS SYNCHRONIZED WITHPOWERPOINT PRESENTATIONSAttendees will have the opportunity for complimentary access to the audio recordings synchronized with thePowerPoint presentations from most of the sessions shortlyafter the conference. For more information, visit theConference Online Community.

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NIC MAP® DATA SERVICE Talk to the data experts. Representativesfrom NIC will be available to answer all of your research anddata-related questions, and provide complimentarydemonstrations of the web-based tools and reports available to clients through the NIC MAP® Data Service.

TECH BAR Computers will be available for you to check email, print sessionhandouts and more. Tech Bar concierges will be on hand andavailable to assist you with your mobile device and ConferenceOnline Community needs.

MOBILE CHARGING STATIONSGet charged and stay connected throughout the conference!Charging kiosks are available on the Sapphire and Indigo levelsand offer compatible plugs for a variety of mobile devicesincluding iPhone, iPad, microUSB, Blackberry, and more.

SPECIALTY COFFEE BAR Grab a complimentary cup of coffee in between businessmeetings and/or sessions.


Location: Indigo Level 2, Ballroom (Networking Lounge)

RELAXATION STATION Take a break from your busy schedule and visit the RelaxationStation to enjoy an upper-body massage between businessmeetings and/or sessions:

Hours: Tuesday 11:00 AM – 5:30 PMWednesday 7:00 AM – 5:30 PM

Location: Indigo Level 2, Terrace Foyer

AT T ENDE E R E SOURCES AND S ER V I C E S ( C ON T )

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HEADSHOT LOUNGENeed to update your 10 year-old photo? Put your best faceforward and stop by the Headshot Lounge to have yourcomplimentary executive portrait taken.

Hours: Tuesday 11:00 AM – 5:30 PMWednesday 7:00 AM – 5:30 PM

Location: Indigo Level 2, Terrace Foyer

EVENING PEDICAB SERVICEComplimentary pedicab service is available from the Hilton San Diego Bayfront to transport you to your evening out in San Diego's gaslamp district.

Hours: Tuesday 6:00 PM – 10:00 PMWednesday 6:00 PM – 10:00 PM

Location: Promenade Level 1, East Foyer on Gull Street

KOSHER ACCOMMODATIONS Minyan A room is available for use to observe Minyan during thefollowing times:

Hours: Tuesday 6:30 PM – 8:30 PMWednesday 6:00 AM – 8:00 AM

6:30 PM – 8:30 PMThursday 6:00 AM – 8:00 AM

Location: Sapphire Level 4, Room 402

Kosher MealsGlatt kosher options are available for attendees who requestedkosher meals in advance. Continental breakfast and networkingbreak refreshments will be offered in the Minyan room on Tuesday,Wednesday, and Thursday; plated lunch will be served at theConference Luncheon on Wednesday; and kosher fare and wineoptions will be offered at the receptions on Tuesday andWednesday.

ATTENDEE RESOURCES AND SERVICES



DA I LY P ROGRAM S CHEDU L E

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T U E S D A Y M A R C H 3111:00 AM – 7:00 PM Registration, Tech Bar,

Networking Lounges, NIC MAP® Data Service

11:00 AM – 5:30 PM Headshot Lounge, Relaxation Station




3:30 PM – 4:30 PM Concurrent Sessions Capital Connections

4:30 PM – 5:30 PM First-time Attendee Mixer(Invitation only)

5:30 PM – 7:00 PM Opening Reception


Capital Connections is a new facilitated networkingopportunity for Capital Seekers to hear directly fromCapital Providers on the financing options available to

address specific capital requirements. Three one-hour dedicatedsessions will be held concurrently on the following finance areas:Development and Turnaround Financing; Mortgages andBusiness Loans; and Equity, Leases and Other Partnerships.See page 23 for more details.

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General Sessions

Panel Sessions


GS

PS

PP

SP Single Presenter

Seniors Housing


(SH)

(SN/PA)


TUESDAY, MARCH 31


Financing for Private Pay Seniors HousingOperators (SH) (Sapphire I)

Operators of private pay seniors housing have a multitude ofcapital options to finance their business’ growth and development.This session is specifically designed to help small/mid-capoperators learn about available financing options, beyond thosetraditionally provided by local or community banks. Learn moreabout conventional bank and agency debt, equity structures, REIT,construction and bridge financing and mezzanine debt.

Session panelists will:• Provide a comprehensive overview of available financing options• Discuss how to access capital whether for an acquisition ordevelopment

• Share advantages and disadvantages of each financing optiondiscussed

• Demystify the financing process including:• How to identify the right lender• A checklist of topics to discuss when meeting with apotential lender

• Lender’s underwriting, due diligence and closingprocesses

Moderator:Tom Stanley, Founder & Principal, Cascade Living Group

Speakers:Ron Hastie, President, RJ DevelopmentJames D. Scribner, Managing Director, RED Capital Markets LLCChris Urban, Managing Director, Ambrose Capital Group

Note:There will be a Peer-to-Peer session at 3:30 PM where attendees can continuethe conversation about this presentation.

CONCURRENT S E SS I ONS 1:00 PM – 2:00 PM

PS


Financing for Skilled Nursing Operators (SN/PA) (Sapphire E)

Skilled nursing operators will learn how to efficiently accesscapital to best prepare for financing the next stage of growth fortheir business. A panel of subject matter experts will provide reallife examples of transactions, including recent deals, and discussthe advantages and disadvantages of each financing option.

Session panelists will:• Discuss the different financing options available and theavenues to efficiently access capital

• Provide valuable insight regarding how to best position yourbusiness for future financings

• Share what capital providers seek from operators

Moderator:Sam Dendrinos, Managing Director, The PrivateBank

Speakers:Garrett Fletcher, Managing Director, MidCap FinancialRichard Lerner, Director and Co-Founder, Housing and HealthcareFinance


CONCURRENT S E SS I ONS (CONT) 1:00 PM – 2:00 PM

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PS


A Primer on Investing in Seniors Housing & Skilled Nursing (SH, SN/PA)(Sapphire A)

As seniors housing and care continues to evolve, it hasbecome a more mainstream property type gaining theattention of investors everywhere. This session is ideal forinstitutional real estate investors and others new to the spacewho want to learn more about the industry’s overall marketfundamentals and investment attributes. Expert panelists willgive an overview of the industry’s performance and producttypes and engage in a lively debate on the relative virtues ofinvesting in the sector as well as the relative merits ofinvesting in seniors housing versus skilled nursing and viceversa. Come find out why these investors, who are activelyinvesting in the sector, believe that seniors housing and careis increasingly one of the most attractive property types.

Key takeaways include:• Review the various types of seniors housing and careproperties

• Update on the industry’s performance and investmentfundamentals

• Investment opportunities, risks and comparisons of seniorshousing and skilled nursing properties

Speakers:Kurt Read, Principal, RSF PartnersKathryn Sweeney, Co-Founder and Managing Partner, Blue Moon Capital Partners, LLC

TUESDAY, MARCH 31


PS


The Future of Skilled Nursing: The Investors Perspective (SN/PA) (Sapphire E)

What will be the result of the evolution of the skilled nursing sectorover the next five to ten years? How much further reduction in thenumber of properties and beds will we see before 2020? Howshould operators rethink the utilization of aging buildings that arenot attractive to today's customer? What is the future of thechronic care, long stay sector?

This panel of leading industry investors will provide their thoughtsabout the future of the sector, declining occupancy, changingresident and payor mix and how operators can remain competitiveand position themselves to accommodate a dramatic increase inshort stay, post-acute patients.

Moderator:Anne Tumlinson, Owner and Principal, Anne TumlinsonInnovations, LLC

Speakers:Michael Lugli, National Manager, Healthcare Finance Group,KeyBank Real Estate CapitalPeter Martin, Managing Director, JMP SecuritiesGreg Stapley, President and CEO, Care Trust REITArnold Whitman, Chairman, Formation Capital



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PS


The Latest in Supply and Demand: Trends and Headwinds (SH) (Sapphire I)

If talk about growth in the supply of seniors housing propertieshave raised more questions than answers, then this session isfor you. Industry experts will drill down to explain everythingfrom which seniors housing property types are seeing thestrongest demand to which are facing headwinds from the newsupply. Whether you are an AL or IL operator, this session willhelp clarify where the opportunities and challenges are when itcomes to new development. A feasibility consultant will alsowalk you through an underserved market in a fictitiousfeasibility assessment that includes utilizing data to make aninformed decision.

This session will help answer your questions regarding:• Which sectors are seeing the strongest demand?• Which sectors are at risk for over building?• What is the outlook for the next 6-12 months?• Which markets are seeing the most new development?• Are there markets that haven’t yet participated in this currentconstruction cycle?

Speakers:Chris McGraw, Senior Research Analyst, NICLarry Rouvelas, Principal, Senior Housing Analytics

Note:There will be a Peer-to-Peer session at 3:30 PM where attendees cancontinue the conversation about this presentation.

TUESDAY, MARCH 31


PS

Ask the Analyst! NIC MAP® Data Service will be assessing attendees'data needs and hosting 15 minute interactive group marketoverviews with our Senior Research Analyst, Chris McGrawat the Data Center, located on the Indigo Level.

Dates/Times:• Tuesday at 5:00 PM • Wednesday at 10:15 AM and 2:45 PM


Peer-to-Peer: Continue the Conversation(Indigo Ballroom)

These Peer-to-Peer sessions allow participants the opportunity tocontinue the conversation with each other on the following panelsessions:

• Financing and Investing in Skilled Nursing Operators • Financing and Investing in Private Pay Seniors Housing • The Future of Skilled Nursing: The Investors Perspective • The Latest in Seniors Housing Supply and Demand: Trends and Headwinds

Note:Limited seating (capacities range from 15-20)


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JOIN THE SOCIAL BUZZShare your conference experience —you could show up onour Social feed. Follow @Ntl_Inv_Ctr on Twitter and ntl_in-vctr on Instagram and tweet using #NICFORUM15

CONFERENCE ONLINE COMMUNITYHave you joined the Conference Online Community yet? Joining the community allows you to connect with fellow attendees and access conference materials. Scan the QR code to be directly connected!


CONFERENCEONLINE

COMMUNITY


Capital Providers “pitches” will be on the followingcapital/financing areas:

Development and Turnaround Financing (Sapphire A)• BOK Financial • Capital Funding• Capitol Seniors Housing• Contemporary Healthcare Capital, LLC• First Niagara Bank• LTC Properties, Inc.• MidCap Financial• PNC Real Estate• RED Capital Group, LLC• TCF Commercial Banking• Virtus Real Estate Capital

Mortgages and Business Loans (Sapphire E)• Berkadia• Berkeley Point Capital• Capital One Bank• CapitalSource/Pacific Western Bank• GE Capital Healthcare Financial Services• Greystone• Housing & Healthcare Finance, LLC• KeyBank Real Estate Capital• Lancaster Pollard• Love Funding• MB Financial• Oak Grove Capital• Opus Bank• Regions Bank• Sunwest Bank• The PrivateBank

Equity, Leases and Other Partnerships (Sapphire I)• AVIV/Omega REIT• Cambridge Realty Capital Companies• Care Investment Trust, LLC• CNL Healthcare Properties• Health Care REIT, Inc.• HJ Sims• National Health Investors• Sabra Healthcare REIT, Inc.• Sentio Healthcare Properties• Ventas, Inc.

TUESDAY, MARCH 31


CAP I TA L C ONNEC T I ONS 3:30 PM – 4:30 PM C

APIT

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Capital Connections—hear directly from Capital Providerson the financing options available to address specificcapital requirements. See page 41 for more details.

W E D N E S D A Y A P R I L 17:00 AM – 7:00 PM Registration, Networking Lounges

NIC MAP® Data Service, Tech Bar

7:00 AM – 5:30 PM Headshot Lounge, Relaxation Station



8:45 AM – 10:00 AM Opening General Session with Keynote Speaker, Katy Fike, Ph.D.

10:00 AM – 10:30 AM Networking Break






3:00 PM – 4:15 PM Meet the Aging2.0 Technology Start-ups


5:15 PM – 6:45 PM Networking Reception


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General Sessions

Panel Sessions


GS

PS

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SP Single Presenter

Seniors Housing


(SH)

(SN/PA)


WEDNESDAY, APRIL 1

Rising Acuity and the Impact on Seniors Housing Business Models (SH) (Indigo B)

Seniors housing operators are faced with the increasingdemands of providing quality care to older, frailer seniors. Jointhe conversation and engage in dialogue about relevant issuesregarding the complex challenges of rising acuity and how itimpacts requirements for nursing, caregiving, staffing models,life engagement, and dining.

Participate in this Peer-to-Peer session to discuss:• The importance of developing robust assessment tools toaccurately determine the level of care needed to ensure quality of life

• How to accurately capture revenue and preserve margins athigher levels of care

• The effects rising acuity has on business models, pricingstrategies, staffing, and operational costs

Co-Facilitators:Sophia Lukas, Executive Director, be.groupRyan Novaczyk, President & CFO, New Perspective Senior Living


Post-Acute Property Sales and Acquisitions: Transactions from a LegalPerspective (SN/PA) (Indigo A)

This peer-to-peer discussion provides owners and operators ofpost-acute and long term care properties an opportunity todialogue about post-acute property sales and transactions. Alegal expert will participate in the discussion to assist withfielding your questions.

Participate in this Peer-to-Peer session to discuss:• Strategies for negotiating a ‘letter of intent’ and structuring a deal

• Planning for successor liability• Special considerations in acquisitions of distressed properties• Indemnification strategies and options

Facilitator:Andrea Barach, Shareholder, Baker Donelson Bearman Caldwell& Berkowitz PC


CONCURRENT S E SS I ONS 7:30 AM – 8:30 AM


PP

PP


Keeping Your Older Seniors Housing Properties Competitive (SH) (Indigo E)

Whether updating a property you currently own or refurbishingone following an acquisition, it’s vital for older seniors housingproperties to maintain a competitive edge. Come share yourthoughts and hear from your peers about where to focus capitalexpenditures to get the most bang for your buck.

Participate in this Peer-to-Peer session to discuss: • Services that can help your property maintain itscompetitiveness in the marketplace

• Staying up-to-date when it comes to safety issues• How can you determine the strengths of your older communityby its location, unit sizes, amenities and price points

Facilitator:Donny Edwards, President - TCG Development, LLC


CONCURRENT S E SS I ONS (CONT) 7:30 AM – 8:30 AM

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Technology, Innovation and You (Sapphire Ballroom)

Raising the bar on seniors housing and care throughtechnological and innovative features is the wave of the future.Katy Fike, PhD, co-founder of Aging2.0 and partner withGenerator Ventures, will examine the transformative impact ofemerging technologies on the design and delivery of senior careservices. Dr. Fike will explore how technology is contributing togreater independence, expanded personal connections andhealthier lifestyles. This session is a must for owners and operatorsinterested in learning about mega-trends in technology and thespecific implications for seniors housing and post-acute care.

In this session you will hear how to leverage technologyand innovation to:

• Expand your reach into the community and developrelationships with potential residents/customers earlier andmore deeply

• Increase efficiency, raise quality, track outcomes and increasetransparency in order to remain/become relevant in theevolving healthcare model

• Design new services and programs that will align with theexpectations of the next generation of consumers and createnew revenue streams

• Develop a new culture of innovation and excellence within yourorganization

Keynote Speaker:Katy Fike, Ph.D., Gerontologist and Co-Founder, Aging2.0

WEDNESDAY, APRIL 1

O P EN I NG G ENERA L S E SS I ON 8:45 AM – 10:00 AM


GS


Finding the Right Seniors Housing Acquisition Opportunity (SH) (Sapphire A)

Owners and operators of private pay seniors housing looking togrow through acquisitions can target individual propertyacquisitions or portfolios of multiple properties. This session willexplore these options while also discussing the pros and cons ofexpanding on your own, or joining forces with a partner.

In this session you will hear:

• How to identify the seniors housing property that works for your business

• The advantages and the disadvantages of acquiring a singleproperty versus a portfolio

• How a broker or financial advisor can assist with theacquisitions process

• When it makes the most sense to consider taking on a partner

Note:There will be a peer-to-peer session at 1:30 PM where attendees can continuethe conversation about this presentation.

Moderator:Torey Riso, CEO, Care Investment Trust

Speakers:Bruce Gibson, Principal, Senior Capital AdvisorsWayne Kaplan, President, Founder & Managing Member, Premier Senior LivingMathew A. Peponis, Chairman/CEO, Greenfield Senior Living, Inc.John Mark Ramsey, CEO, Sentio Investments


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PS


Growth and Exit Strategies for the SmallerSkilled Nursing Operator (SN/PA) (Sapphire E)

Given the current operating environment where skilled nursingproperties are increasing challenged, smaller operators arefaced with deciding if this is the time to go big or go home. Thissession specifically addresses the operator with 10 or lessfacilities who is grappling with the idea of selling now orcapitalizing for future growth.

• Hear specific trends that will impact smaller SNF operators inthe near future, including analysis of skilled nursing trends,how the changing healthcare landscape will impact all skillednursing operators and what you should be considering whenthinking about buying or selling.

• Learn top tactics and strategies that are necessary for growthand expansion, including how to identify key assets andaccessing growth capital.

• Capitalize on real world case studies that outline howoperators have positioned themselves for a successful sale,and what to expect before, during and after the close.

Moderator:Chris Urban, Managing Director, Ambrose Capital Group

Speakers:Steve Graham, Principal, Infinium HealthcareKelly Sheehy, Managing Director, Formation Capital LLC


WEDNESDAY, APRIL 1


PS


Dual Eligibles Demonstration Program: Update from State Executives (SN/PA) (Sapphire I)

Improving care and controlling costs for those eligible for bothMedicare and Medicaid was the reason CMS launched a three-year state level demonstration program in 2013. As of July2014, CMS has finalized Memoranda of Understanding (MOUs)with 12 states. State executives from New York, Texas, Oregon,and California, where more than 30 percent of the totalbeneficiaries are located, will provide a national overview of theprogram and update attendees on:

• How their dual eligibles programs are working• The impact the program is having on the operator’s bottom line

• Metrics used to evaluate the program• Opportunities and challenges for operators

Moderator:Jim Carlson, President/CEO, Oregon Health Care Association

Speakers:Jim Gomez, President/CEO, California Association of Health FacilitiesRichard Herrick, President/CEO, NYS Health FacilitiesAssociationKevin Warren, President/CEO, Texas Health Care Association


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PS


The State of Innovation: Technology Start-ups and Seniors Housing and Care(Sapphire M)

Following her opening session keynote, Dr. Katy Fike willmoderate a panel discussion with seniors housing and careproviders and the innovation entrepreneurs with whom theypartnered to share the development and design of the productsand services, their decision to collaborate, and thetransformative impact these emerging technologies are havingon seniors housing and care.

Learn:• About innovation best practices• How to build a culture of innovation, and where to beginwhen formulating an innovation strategy

• How technology can help providers scale beyond their walls

Moderator:Katy Fike, Ph.D. Gerontologist and Co-Founder, Aging2.0

Panelists: Operators and Tech Start-upsJeramy Ragsdale, CEO, Thrive Senior Living and Jeh Kazimi, Founder and CEO, Breezie

Donna Kelsey, Division President, Revera Living and Charles De Vilmorin, Co-Founder and CEO, Linked Senior

Neil Tantingco, Owner, Evergreen Residence and Victor Wang, Founder and CEO, Gerijoy

Developing Partnerships in the Post-AcuteSector: The Providers Perspective (SN/PA)(Indigo A)

Join this Peer-to-Peer discussion to engage with peers, shareinsights and ask questions about:

• What providers look for in an acute care partner• Establishing your organization as a preferred provider in thepost-acute marketplace

• Key enhancements operators should consider toaccommodate post-acute admissions

• Opportunities to partner with Accountable Care Organizations

Facilitator:Dale Thompson, Past President, ACHA, Former CEO/Consultant,Benedictine Health Systems


WEDNESDAY, APRIL 1


PS

PP


Human Resources: Legal Strategies for Seniors Housing and Skilled Nursing Operators (Indigo B)

Engage in discussion with peers about current employment lawissues affecting owners of seniors housing and skilled nursingproperties.

Participate in this Peer-to-Peer session to discuss: • Managing employee leaves of absence• Scheduling and hours worked to maintain compliance with theFair Labor Standards Act

• FMLA and the Americans with Disabilities Act (ADA)• Preparing for and responding to a Department of Labor audit• Reducing risks related to employee discipline and termination

Facilitator:Sandra Rappaport, Partner, Hanson Bridgett



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PP



Health Care Reform Insights from Kathleen Sebelius (Sapphire Ballroom)

“I hope — and I think it’s a very good likelihood — that fee-for-service will be a thing of the past,” she said. “I know there’s aneffort right now to see what can be locked in by December of2016, and the tools are there to do that, so you make that shift.And frankly, if Medicare moves, the market moves.”Kathleen Sebelius

As one of the most prominent advocates for healthcare reform,former Secretary of the U.S. Department of Health and HumanServices, Kathleen Sebelius, will offer valuable insights into thehealth care reform debate and, in particular, its impact onseniors housing and care. As one of the leaders of theimplementation efforts, including the strengthening ofMedicare by adding benefits and lowering costs, expansion ofCHIP and Medicaid, and the creation of a new national HealthInsurance Marketplace, Secretary Sebelius will share herperspectives on key issues including the significance of movingfrom fee-based to an outcomes and value-based paymentsystem. Kathleen Sebelius will also discuss where she thinkshealth care in the U.S. is headed and what the system will looklike in the next ten years.

Keynote Speaker:The Honorable Kathleen Sebelius, Former Secretary, U.S. Department of Health & Human Services under PresidentBarack Obama

WEDNESDAY, APRIL 1

C ON F ER ENCE L UNCHEON 11:45 AM – 1:15 PM


GS


SNF Payment Models: How to Prepare for the Future and Survive in the Present (SN/PA)(Sapphire E)

Skilled nursing providers are feeling pressured to lower costs andimprove outcomes, as managed care and ACOs control more of theirpatient population. These organizations are lowering reimbursementsand slowing payments. This moderated panel discussion will provideoperators strategies to help them survive today’s and tomorrow'sincreasing financial pressures and performance expectations byoffering the top five strategies in managed care contracting, billingand legal risk mitigation.

Walk away with the understanding of:• What to look for when reviewing a managed care contract• Challenges to be aware of operationally and functionally whenworking with managed care organizations and ACOs

• Best practices to streamline billing and cash flow with managedcare payers

• Draft legal language needed for a win/win partnership

Moderator:Joshua Kauffman, Senior Consultant, Compliagent

Speakers:Mark Johnson, Attorney, Hooper, Lundy & Bookman, P.C.Susie Mix, President/CEO, Mix Solutions, Inc. Joshua Sadikman, President, LTC Consulting

Note:There will be a Peer-to-Peer session at 4:15 PM where attendees can continue theconversation about this presentation.


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PS


How to Obtain Equity for New Seniors Housing Property Development (SH) (Sapphire A)

Some small/mid-cap operators have been successful findingcapital for one or two development projects. Over time, thesesame operators tend to outgrow or reach capacity with theircore group of investors. When time comes to diversify thedevelopment capital bucket, what is the best way to identifyand approach new sources of capital? This session is focusedon helping small/mid-cap operators with how to best tell theirstory to new investors and how best to approach new capitalproviders regarding future development opportunities.

Panelists will discuss:• The capital sources available for development• The best strategies for approaching potential newrelationships

• What to expect from capital providers who may havedifferent expectations and demands than the privateinvestors you have dealt with in the past

• Diversification strategies and how best to allocate internaland external capital to development

• What to present - and what not to present – whenapproaching potential new capital sources

• How other companies recently obtained development capitalfrom new relationships

Moderator:Kevin Maddron, Senior Managing Director, CNL Health CareProperties

Speakers:James Guffee, CEO, Radiant Senior Living, Inc. Clint Mitchell, Vice President, Head of Business Development, Mainstreet Dustin Warner, Vice President, Harrison Street Real Estate Capital

Note:There will be a Peer-to-Peer session at 8:00 AM on Thursday whereattendees can continue the conversation about this presentation.

WEDNESDAY, APRIL 1


PS


Integrating Your Seniors Housing Property Acquisition (SH) (Sapphire I)

Once you’ve completed an acquisition, how do you successfullyintegrate the property into your existing portfolio? This sessionwill continue the discussion from the Wednesday morningbreakout, “Finding the Right Acquisition Opportunity”, and willfocus on strategies operators can employ to successfullyintegrate acquired properties into their existing portfolio. Twoleading operators will share their insights and discuss some ofthe challenges they’ve faced with employee integration, andpolicy and procedure transitioning, systems transitions, and NOI growth.

Learn how to: • Mitigate unanticipated costs• Address challenges including care systems requiringrevamping and physical plants in need of refurbishing

• Successfully incorporate HR practices

Moderator:Jason Smeck, Managing Director, Seniors Housing & HealthCare, RED Capital Group, LLC

Speakers:Paul Mullin, Vice President of Community Development,SilveradoRyan Novaczyk, President & CFO, New Perspective Senior Living


CONCURRENT S E SS I ONS (CONT) 1:30 PM – 2:30 PM

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PS


The Strategic Value of the “Small House”Approach to Nursing Care (SN/PA) (Indigo A)

A communal table for residents and nursing assistants, an openkitchen that looks like a suburban family home and privatebedrooms with bathrooms for no more than 12 or so residents –participate in this discussion about the “small house” approach tonursing care, including how to incorporate ‘green house’ andother concepts into smaller housing and care settings.

Participate in this Peer-to-Peer session to discuss:• What is the strategic value to providers, owners and investorsfrom incorporating these models into their traditional caresettings?

• Will aging Baby Boomers likely embrace a more personalapproach in terms of both care and setting than what’scurrently available in most institutional properties?

• What are the implications of the “small house” approach forproviders as the regulatory and reimbursement paradigmscontinue to shift under the ACA?

• Can this approach be used to re-position an aging nursingproperty or be used to successfully augment an existingbuilding or campus?

• Are these approaches financially viable?

Facilitator:Jim Thompson, Senior Director, Synovus Bank

Subject Matter Experts:Debbie Brazill, Administrator/CEO, Villages Rehab and NursingCenter Care and Post-Acute RehabilitationRebecca Priest, Administrator of Skilled Services, St. John’sHealth Care Corporation



These Peer-to-Peer sessions allow participants the opportunityto continue the conversation with each other on the followingpanel sessions:• Growth & Exit Strategies for Small/Mid-Cap Skilled NursingOperators

• Finding the Right Seniors Housing Acquisition Opportunity


WEDNESDAY, APRIL 1


PP

PP


Developing New Product Types for Middle-Income Private Pay Seniors Housing (SH)(Sapphire E)

What if, as an operator, you could go from 5% of the market inthe next 5 years to 8%, with product that positions you forgrowth as baby boomers migrate to seniors housing?

Everyone knows that the boomer generation will be demanding amore affordable solution to seniors housing, but increased marketshare is waiting to be had for operators who are can and will“disrupt” the status quo with middle-income private pay seniorshousing. In this fast paced session, hear some of the mostcompelling and innovative, actionable ideas on how to expandmarket share by building and operating middle-income privatepay housing.

• Hear in-depth analysis on the gaps that exist in today’ssenior housing stock as well as why your current customersand future baby boomers will be demanding change andhow it could impact your bottom line

• Learn specifics about how to accommodate these customersfrom aesthetics to care and how to approach both newdevelopment and conversions

Moderator:John Stasinos, Senior Vice President, Acquisitions &Valuations, HCP, Inc.

Speakers:Arun Paul, Founder & CEO, Priya LivingRuss DenBraber, President & CEO, Christian Living CommunitiesMaxwell Drever, Chairman, Drever Capital Management, LLC


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PS


How to Value a Skilled Nursing or Seniors Housing Property and How to Findthe Best Buyer (SH, SN/PA) (Sapphire I)

In the current landscape with institutions buying portfolios atrecord prices, new investors wanting to find undervaluedassets, and industry players with costs of capital across theboard, how can you make sure you’re talking to the rightpeople and negotiating the right price? A panel withrepresentatives from a REIT, a broker, a lender and anoperator, will review two different assets - a skilled nursingand a seniors housing property. They’ll share how they valuethe properties, and they’ll examine how their analysescompare and where they differ. Hear what some of theinfluential market factors are to determine what a property isreally worth.

Moderator:Richard Lerner, Director & Co-founder, Housing &Healthcare Finance, LLC

Speakers:Boyd Gentry, CEO, Senior Options HealthcareChris Hyldahl, Managing Director, Blueprint Healthcare RealEstate AdvisorsGreg Stapley, CEO, Care Trust REIT

Note:There will be a Peer-to-Peer session at 4:15 PM where attendees cancontinue the conversation about this presentation

Peer-to-Peer: Continue the Conversation

WEDNESDAY, APRIL 1

Meet the Aging2.0 Technology Start-ups3:00 PM – 4:15 PM (Sapphire M)Aging2.0 is a global organization on a mission toaccelerate innovation to improve the lives of older adults.Co-founders of Aging2.0, Katy Fike and StephenJohnston, are hosting a “meet and greet” for you tocome and hear from the 2015 class of technology start-ups. Join us to learn about cutting edge innovationsthat may transform the future of aging services.


PS


(Indigo Ballroom)

These Peer-to-Peer sessions allow participants the opportunity tocontinue the conversation with each other on the following panelsessions:

• SNF Payment Models: How to Prepare for the Future andSurvive in the Present

• Integrating Your Seniors Housing Property Acquisition • How to Value a Skilled Nursing or Seniors Housing Propertyand How to Find the Best Buyer



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Capital Providers “pitches” will be on the followingcapital/financing areas:

Development and Turnaround Financing (Sapphire A)• BOK Financial • Capital Funding• Capitol Seniors Housing• Contemporary Healthcare Capital, LLC• First Niagara Bank• LTC Properties, Inc.• MidCap Financial• PNC Real Estate• RED Capital Group, LLC• TCF Commercial Banking• Virtus Real Estate Capital

Mortgages and Business Loans (Sapphire E)• Berkadia• Berkeley Point Capital• Capital One Bank• CapitalSource/Pacific Western Bank• GE Capital Healthcare Financial Services• Greystone• Housing & Healthcare Finance, LLC• KeyBank Real Estate Capital• Lancaster Pollard• Love Funding• MB Financial• Oak Grove Capital• Opus Bank• Regions Bank• Sunwest Bank• The PrivateBank

Equity, Leases and Other Partnerships (Sapphire I)• AVIV/Omega REIT• Cambridge Realty Capital Companies• Care Investment Trust, LLC• CNL Healthcare Properties• Health Care REIT, Inc.• HJ Sims• National Health Investors• Sabra Healthcare REIT, Inc.• Sentio Healthcare Properties• Ventas, Inc.

WEDNESDAY, APRIL 1


CAP I TA L C ONNEC T I ONS 4:15 PM – 5:15 PM C

APIT

AL CONNECTIONS

#NICFORU M15



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T H U R S D A Y A P R I L 27:00 AM – 11:30 AM Registration, Networking Lounges

NIC MAP® Data Service, Tech Bar



9:15 AM – 11:00 AM Closing General Session withKeynote Speaker Dr. Bruce Chernofand Responding Panel

JOIN THE SOCIAL BUZZShare your conference experience —you could show up onour Social feed. Follow@ Ntl_Inv_Ctr on Twitter and ntl_invctr on Instagram and tweet using #NICFORUM15


General Sessions

Panel Sessions


GS

PS

PP

SP Single Presenter

Seniors Housing


(SH)

(SN/PA)


THURSDAY, APRIL 2


Trends and Strategies in Seniors HousingLitigation and Operational Risk Management (SH) (Indigo B)

Engage in a lively discussion with peers to share the lateststrategies and best practices in litigation regarding operationalrisk management and asset protection.

Participate in this Peer-to-Peer session to discuss:• General liability/professional liability• Negotiated risk agreements (new trend in assisted living)• Corporate Structures and Liability • Management, operations and staff education and training • OIG Strategic Plan 2014-2015/Work Plan FY 2015

Facilitator:Rebecca Adelman, Shareholder, President, Hagwood AdelmanTipton, PC



This Peer-to-Peer session allow participants the opportunity tocontinue the conversation with each other on the followingpanel session:

• How to Obtain Equity for New Seniors Housing PropertyDevelopment


CONCURRENT S E SS I ONS 8:00 AM – 9:00 AM

PP

PP


What to Do with Your Aging SkilledNursing Property (SN/PA) (Indigo A)

“You never change things by fighting existing reality. To changesomething, build a new model that makes the existing modelobsolete.” Buckminster Fuller, Architect

Aging skilled nursing properties can be re- designed to enhanceand leverage the ability to deliver effective resident care in anenvironment that is undergoing significant change, amplified bythe senior tsunami. Existing properties can be adapted to provideprogram flexibility, advanced accessibility, expansion options and toprovide a platform for incorporating other less traditional services.

Participate in this Peer-to-Peer session to discuss:• Challenge areas for owners of aging skilled nursing facilities• Strategies utilized to overcome the challenge areas• How to prioritize options and incorporate less traditionalservices that can support your strategic plan

Facilitator:Vincent A. Myers, AIA, LEED AP, Principal, DIGroupArchitecture, LLC


Seniors Housing Market Trends and Influencing Factors (SH) (Sapphire A)

Where is the seniors housing property sector in its economic cycle?Are occupancy rates poised for further gains? Will rents continueto be pressured higher? Are you questioning transaction pricingand wondering if the sector is poised for further consolidation? Thissession, featuring Beth Mace, NIC’s Chief Economist, will providethe answers to these questions and more. In this session, Ms.Mace will also present a view on the macro economy and where itis going, and she will highlight economic indicators that provideinsights into the direction of seniors housing demand, supply andpricing and valuation trends.

Presenter: Beth Mace, Chief Economist and Director, Capital MarketsOutreach, NIC


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SP


Demand for Transparency and QualityOutcomes: The Great Differentiators (Sapphire Ballroom)

“70 percent of those over 65 will need some form of long-termservices and support and will need it for an average of threeyears.” Dr. Chernof

Dr. Bruce Chernof is president and CEO of the SCAN Foundationand former Chair of the federal Commission on Long-TermCare, which produced a bipartisan report to Congressrecommending reforms for our nation’s long-term carefinancing, delivery system, and workforce needs. Dr. Chernofwill discuss the growing demands for increased transparencyand seamless delivery systems focused on outcomes. Dr.Chernof will also speak to the new opportunity resulting from are-imagined role for housing and care providers.

He will explore:• Policy and regulatory reform efforts aimed at the post-acuteand long term care segments including transitioning from fee-for-service to value-based outcomes

• The increased presence of Managed Care Organizations(MCOs)

• Integrated care models• Person-Centered Care• New opportunities for seniors housing and care providers

Keynote Speaker:Dr. Bruce Chernof, Presidentand CEO, The SCAN Foundation

Following Dr. Chernof’s keynote presentation, senior levelindustry leaders will share their perspectives and respond tosome of Dr. Chernof’s comments in a panel discussionmoderated by NIC’s CEO, Robert Kramer.

Panelists:Charles J. Herman, Jr., President, Seniors Housing and Post-Acute, Health Care REIT, Inc. Doug Korey, President, Lancaster Pollard Finance Company, LLCKenneth Segarnick, Chief Corporate Officer, BrandywineSenior Living

THURSDAY, APRIL 2

C L OS I NG G ENERA L S E SS I ON 9:15 AM – 11:00 AM


GS


THANK YOU

NIC Deal Making Kits

Conference Bag

Conference Luncheon

Networking Breath Refreshers

Name Badges and Lanyards

Floor Clings

Sustaining Research

Elevator Clings

Event Guide to Investors

Light Wall

46 | #NICFORUM15

Conference Sponsors

Tech Bar

Sustaining Research


Headshot Lounge

Conference Online Community

Specialty Coffee Bar

Networking Reception

Hotel Room Keys

Tuesday Evening Amenity

Wednesday Networking Reception

Morning Newspapers

Opening Reception

R

granger group

Closing General Session

Water Service Meeting Points



THANK YOU

Sustaining Research

Evening Pedicab ServiceEvening Amenity

Wireless Internet

Registration Website

First-time Attendee Mixer

(Member FINRA/SIPC)

Odysea Networking Lounge

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Speaker Ready Room

Conference Sponsors

Audio Visual and Staging for Concurrent Sessions

Sustaining ResearchOpening General Session

®

TM


Industry Sponsors

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

American Seniors Housing Association (ASHA)

Assisted Living Federation of America (ALFA)

Erickson School of Aging Studies

Media Sponsors

ALM Real Estate Media Group

McKnight’s Long-Term Care News & Assisted Living

National Real Estate Investor (NREI)

Provider Magazine

Seniors Housing Business

Senior Housing Forum

Senior Housing News

The Senior Care Investor

I N D U S T R Y & M E D I A S P O N S O R S I N DUS TRY & MED I A S PONSORS



NIC Premier Partners

THANK YOU

NIC Official Partners

R

®

TM

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TAB L E O F C ON T EN TS

Schedule at-a-Glance 4

Educational Program 6

Sessions at-a-Glance 8

Attendee Resources and Services 10

Daily Program Schedule…Tuesday 16

Daily Program Schedule…Wednesday 24

Daily Program Schedule…Thursday 42

2015 Forum Planning Committee 51

eareniors Housing & Cor Sfertent Cestmenvntional INa

g & C

COMMUNITYNLINE O

NFERENCECO

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Charles J. Herman, President, Seniors Housing and Post-Acute, Health Care REIT, Inc. Chair

Kenneth Segarnick, Chief CorporateOfficer, Brandywine Senior Living Co-Chair, Seniors Housing

Doug Korey, President, Lancaster PollardFinance Company, LLC, Co-Chair, Skilled Nursing

Dan Biron, Senior Vice President, Berkadia Chair, Education & Networking

Jennifer Berland, Partner, Hanson Bridgett

Peter Delmage, Senior Vice President,KeyBank Real Estate Capital

Sam Dendrinos,Managing Director, The PrivateBank

Donny Edwards, Partner, Covenant Group

John Getchey, Senior Vice President -Seniors Housing Investments, TeamLeader, Health Care REIT, Inc.

James Gomez, President/CEO, California Association of Health Facilities

Michael Jones, CEO/Principal, Healthtique Group

Joshua Kauffman, Senior Consultant,Compliagent

Richard Lerner, Partner, Housing & Healthcare Finance, LLC

James Levine,Attorney, Baker Donelson Bearman Caldwell &Berkowitz P.C.

Sophia Lukas, Executive Director,be.group

Kevin Maddron, Senior ManagingDirector, CNL

Sheryl Marcet, Managing Director, Aviv REIT

Joseph McCarron, Principal, Capital Care Associates LLC

Eric Mendelsohn, EVP CorporateFinance, National Health Investors

Ryan Novaczyk, President & CFO, New Perspective Senior Living

Torey Riso, Chief Executive Officer, Care Investment Trust LLC

Julie Robinson, Vice President,Acquisitions, Ventas, Inc.

Jason Smeck,Managing Director, RED CAPITAL GROUP

Thomas Stanley, Founder & Principal,Cascade Living Group

John Stasinos, Senior Vice President -Acquisitions & Valuations, HCP, Inc.

Mike Stephen, Senior Vice President -Marketing, Health Care REIT, Inc.

Dale Thompson, Past President, AHCA and Former CEO/Consultant,Benedictine Health System

Jim Thompson, Senior Director- Senior Housing Lending, Synovus Bank

Chris Urban, Managing Director,Ambrose Capital Group

Adam Zeiger, Senior Vice President, GE Capital, Healthcare FinancialServices

2 0 1 5 F ORUM P L ANN I NG COMM I T T E E

cover_program_DIGI.qxp_Layout 1 3/9/15 8:44 AM Page 2

The National Investment Center for Seniors Housingand Care (NIC) is a 501(c)(3) organization whose missionis to advance the quality and availability of seniors housingand care options for America's elders through research,education and increased transparency that facilitateinformed investment decisions, quality outcomes andleadership development in seniors housing and care.

SAVE THE DATES25th NIC National ConferenceInvesting in Seniors Housing and CareSeptember 30 - October 2, 2015Gaylord National, Washington, DC

NIC 2016 Capital & Business Strategies ForumA Conference for Small/Mid-Cap Operators in SeniorsHousing and Post-Acute CareMarch 9-11, 2016Omni Dallas Hotel, Dallas, TX

26th NIC National ConferenceInvesting in Seniors Housing and CareSeptember 14-16, 2016Marriott Marquis Washington, Washington, DC

A B O U T N I C

1997 Annapolis Exchange Parkway, Suite 480Annapolis, MD 21401Phone: (410) 267-0504

www.nic.org

#NICFORUM15

N


A Conference for Small/Mid-Cap Operators in Seniors Housing and Post-Acute Care

MARCH 31-APRIL 2 , 2015 | SAN DIEG O, CA

whereconnections

lead to business

NIC 2015 CAPITAL & BUSINESS STRATEGIES FORUM

F I N A L P RO G R A M

#NICFORUM15


NIC Gratefully Acknowledges our 2015 Forum Planning Committee

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