Capital Care Associates - senior housing development
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Engagements

The experience qualifications of CCA and its Principal associates extend to over $1B of invested capital in Seniors Housing & Care. The following are select illustrations of our engagement and transactional experience.

 

Financial Advisory - Engaged as Financial Advisors to secured lenders associated with a $226MM securitized credit facility associated with over eighty (80) long-term care nursing and assisted living facilities located in Texas and Illinois and involved in a Chapter 11 Bankruptcy Proceeding. Currently serve and support an independent Director role of the restructured and reorganized debtor company having successfully emerged from bankruptcy in November 2003.
   
New Project Development - Developed, owned and operated a 76 unit Assisted Living Facility in southern New Hampshire representing a capital investment of $12MM. This project was specifically designed and operated to serve a dementia and memory impaired resident population in a residential setting. Further campus development has included the strategic integration of added assisted living and independent living products representing capital investments aggregating in excess of $25MM.
   
Replacement Project Development - Engaged as turnaround managers associated with a 112 bed skilled nursing facility controlled by the City of Cambridge in Massachusetts and experiencing deteriorating operating losses exceeding $2MM annually. The strategic plan included stabilization of existing operations, introduction of replacement owners and divestiture of the asset.. This plan concluded with the development of a replacement nursing facility representing a capital investment of $15MM and introducing an assisted living component to the project.
   
Acquisition - Participated with a group of investors representing the successful acquisition bid for a 164 skilled nursing facility in bankruptcy and located in Massachusetts. Served as operators and advisors associated with repositioning, recapitalizing and renovating this asset. Strategic initiatives included the successful renegotiation of specialized Pediatric program rates, labor union contract concessions, elimination of nursing agency and material census improvements. Current efforts include the further expansion of the project campus representing over 12 acres of developable property.
   
Divestiture - Engaged in an operations improvement capacity to a regional hospital provider in the Cape Cod area of Massachusetts involving a distressed 82 bed skilled nursing facility. This engagement evolved into a full scope management capacity. Material operating losses were eliminated and regulatory compliance was restored while this asset was positioned for divestiture. This asset was recapitalized on an interim basis, subsequently sold and is currently operating as a premier sub-acute nursing facility in its market area.
   
Capital Formation - Represented owners and operators of long-term care facilities located in Massachusetts, Connecticut, Pennsylvania, Kentucky, Iowa and Tennessee representing over 30 facilities and 3,000 beds. Provided financial advisory and operations consulting services in connection with capital acquisition and re- financing initiatives representing invested capital exceeding $250MM.
   
Asset Management - Served lenders and investors representing credit interests in long-term care and senior housing properties throughout the United States. Provided oversight management, operational consulting and reporting services for commercial lenders and institutional investors representing credit interests involving over 50 properties and invested capital of over $250MM.
   
Operations Improvement - Engaged as strategic advisors and replacement managers for a 123 bed skilled nursing facility located in Boston, Massachusetts experiencing severe challenges in both clinical care and financial management. Owned by a major hospital health system provider, this asset was stabilized and achieved EBITDAR improvement from a $2MM operating loss to a $1MM operating profit within twenty four months. This facility was successfully purchased by interests representing the replacement managers.
   
Clinical Consulting - Engaged as clinical consultants and turnaround managers to a 164 bed non-profit skilled nursing facility owned by a university hospital and healthcare system in New England. Situated on the university campus and medical school, this facility was experiencing operating losses exceeding $3MM annually and was threatened with closure by regulatory authorities. The facility has now achieved regulatory compliance evidenced by a deficiency free survey and near break-even operating performance. This asset is currently being marketed for sale.
   
Turnaround Management – Served in the executive management capacity for a distressed public company providing healthcare management and ancillary services to the long-term care industry with operations in New England, Pennsylvania, Maryland, Georgia, Ohio and California. Provided strategic advisory, reorganization and disposition services in connection with redirecting distressed business operations.
   
Oversight Management - Engaged through Secured Creditor interests of multiple long-term care and assisted living facilities located in Virginia and North Carolina representing 24 properties and over 2700 beds. Provided financial advisory, operations consulting and oversight management services in connection with developing and implementing strategic business plans for continuing operations. Provided direct assistance in supporting lender relations representing defaulted senior credit interests exceeding $115MM.
   
Credit Default Resolution - Engaged by the New Hampshire Housing and Finance Authority in connection with resolution of monetary credit defaults associated with a portfolio of privately owned senior housing and assisted living facilities. Served in a financial advisory and consulting capacity positioning for replacement management and foreclosure proceedings. Our intervention resulted in restored compliance for the conditions of default and the avoidance of planned legal proceedings.
   
Strategic Advisory - Engaged as strategic advisors and operational consultants associated with a family owned nursing and assisted living facility located in New Hampshire. Strategic initiatives achieved included a recapitalization of the project with HUD financing; Medicare and Medicaid certification to achieve maximum skilled nursing capacity; marketing and census development of the ALF component to exceed 92% occupancy; and the development of improved financial and clinical practice standards.
   
Strategic Development - Engaged in an executive management capacity and served as Chief Financial Officer for a regional long-term care provider in New England. Served as the primary executive resource responsible for transactional growth and capital formation associated with the emergence of this private long-term care provider resulting in multi-facility operations comprised of over 15 properties representing nearly 2,000 beds. The Company was subsequently sold to a national provider.

 






 
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