ACQUISITIONS OF EXISTING SENIOR HOUSING PROPERTIES
SLM believes that acquisition/lease opportunities still exist in the fragmented senior independent and assisted living industry. Our experienced team is very selective when reviewing purchase or lease opportunities of existing facilities. The Company's acquisition and leasing strategy focuses primarily on facilities that possess the inherent qualities to be repositioned by the Company, by improving or enhancing available services and amenities. SLM targets communities that offer retirement housing for middle and moderate-income private pay residents as well as LTC Insured residents. SLM concentrates its acquisitions on assets, which consist of purpose-built, medium-sized facilities (45 to 90 units), offering a continuum of care, and located in suburban/rural areas outside of major metropolitan markets.
DEVELOPMENT OF NEW CONSTRUCTION PROJECTS
SLM intends to continue to leverage its development and operational expertise to expand its popular prototype facility – Savannah Court - on selected sites located in suburban and rural areas outside of major metropolitan markets throughout the Southeast. Our current success with our three initial Savannah Courts, located in Florida, have proven the significant need for an affordable, high-quality assisted living home. The Savannah Court model, which can be adapted to the specific requirements of individual markets and site requirements, contains 30 units/36 beds. The property is designed to allow efficient expansion of up to 60 units/70 beds when demand is sufficient. The prototype offers spacious studio units that can accommodate private or semi-private residents. There are numerous common areas throughout the residence, which lead out to an outdoor landscaped courtyard. SLM is currently selecting sites for the projects and we plan to construct 3 new facilities in each of the next 3 years.
OPERATIONS MANAGEMENT & MARKETING SERVICES
‘Experience’ has been the critical factor in the Company’s earned success. Dennis Wagner, founder & CEO of SLM has over 25 years experience in the senior housing industry. SLM Services, LLC - the operations management division of SLM, has developed and implemented sophisticated management and operational procedures and programs resulting in strong operating margins and occupancy rates. These procedures include implementing sophisticated budgeting and financial controls at each facility, streamlining the administrative functions by automating the office tasks, and establishing standardized training and operations procedures. The implementation of its management and operating policies through its proficient directors and on-site staff will enable SLM to enhance the financial performance of its existing and future facilities and continue to improve the profitability of its stabilized facilities. An experienced team of professionals that include a Regional Director, Executive Director and a Marketing/Community Relations Director supports each property. SLM Services utilizes proven, customized marketing programs with experienced sales personnel and effective networking to achieve high occupancy rates. Each quarter, every property updates their Marketing Plan, which analyzes the products, competitive environments and the effective resources in each facility’s geographic area. SLM Service's marketing programs are designed to create community awareness of the facility and its services, and to cultivate relationships with referral sources such as health care providers, physicians, clergy, area agencies on aging, home health agencies, social workers and case workers. Our continued success comes from these effective operational and marketing programs that is implemented by our dedicated professionals at each property.
