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Development Planning

Defining a strategy for development of a senior living community begins with the completion of a new campus Business and Development Plan (the “Plan”). The time spent planning for a new community is invaluable and will save considerable time and money in the long run by completing careful planning. The Plan is a comprehensive document that includes a market analysis, definition of a resident pricing and programs, financial analysis, construction and development analysis, marketing plan, regulatory overview, pre-construction budget, financing plan and understanding of key risks and risk mitigation strategies. The Plan is not completed in a vacuum and significant input is obtained from the client, capital markets, state regulatory authorities, planning and zoning departments, area competitors, and others. The Plan identifies the resources required to make a new project a success and serves as your guide to project implementation.

Development and Construction Management

McFarlin Group has the ability to coordinate the implementation of a Business and Development Plan (defined above) by providing development consulting and project coordination services. We have experience solving development problems. Development services includes the following:

• Site identification, rezoning and entitlement coordination and due diligence processing
• Coordination of the project team (marketing staff, architect, contractor, engineers and financing team)
  Identify, interview and coordinate selection of development team members
• Interface with the design team to ensure architectural goals are met and the project maintains within scope and budget parameters
• Securing regulatory approvals including certificate of need
• Coordinate the marketing function
• Secure project equity and debt financing
• Construction contract negotiation
• Monitor and manage all construction activities
• Monitor project and construction budgets with variances
• Be a catalyst for consistent and frequent team communication
• Incorporate green and LEED elements as frequently as possible while maintaining to budget and project schedule
• Market Analysis (Market Feasibility Studies)

Whether you are developing a new senior living community or trying to analyze your existing pricing relative to your competition, conducting a market analysis is the first step in determining if there is a need for additional units and how senior’s needs are currently being served in your market area. Market analyses include:

• Defining the geographic region from which the elderly will originate to fill a Community (a primary market area or “PMA”) which is determined by understanding natural and manmade barriers such as rivers, freeways, railroads, major arteries, or a marked difference in the socioeconomic makeup of a neighborhood or area
• Estimating the current senior population and households and projected growth within the defined PMA
• Evaluating the economic characteristics of elderly households within the defined PMA including an analysis of real estate sales data in the PMA
  Preparing and evaluating a dot density map indicating the concentrations of financially qualified households within the PMA
• Assessing the existing and proposed competitive communities in and around the PMA
• Assessing market demand to absorb current and/or future units through market penetration analysis

McFarlin Group has the experience and knowledge base to analyze market opportunities including senior population size, growth, and economic characteristics. To insure a community’s success, a project must be sized and priced to meet the needs of area seniors; this means a project must be market-driven.

Financial Analysis (Financial Feasibility Analysis)

Financial analysis is key to understanding the viability of a new campus, campus expansion or long-term campus strategic plan. Financial analysis includes estimating project budget costs, operating budget, projected cash flow, financing plan and key financial indicators. Our people have the experience and knowledge base to analyze and quickly refine the economic parameters of a project based on achievable financing costs and various ownership structures.

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Management Philosophy

To fulfill the mission established by Orchard Park which includes:

• The primary mission of Orchard Park is to provide a comfortable and secure residential lifestyle to residents within a caring environment which offers an attractive array of personal services.
• Orchard Park will occupy a leadership position as an Assisted Living community with a commitment to provide a holistic service approach which provides for the physical, spiritual, intellectual and social needs of our residents.
• The ongoing fulfillment of our mission will be based upon earning the respect, trust, and friendship of our residents on a daily basis.

2) To reach the target market group with the marketing message as cost-effectively as possible.

3) To achieve the monthly occupancy goals established for Orchard Park.

4) Do what it takes to get the job done. Employs the “can do” attitude on every Management engagement and will do everything we can to make the project successful and meet the needs of the residents.

Operations Overview

McFarlin Group is an owner within the seniors housing industry. Senior housing is all we do. We raise capital and actively manage funds for the acquisition, improvement, and management of senior living properties. We invest and manage with both a commitment to investors and to the elderly residents we serve.

Our team of experienced senior living and real estate professionals have complementary skill sets required to originate, analyze, underwrite, structure, manage, and ultimately exit a diverse portfolio of senior living properties. We combine detailed market analysis and research with local, on-the-ground expertise. By acquiring and intelligently managing real estate assets, McFarlin seeks to generate attractive returns for investors while minimizing risk. We seek to enhance profitability and ensure long-term sustainability by improving poorly positioned or deeply discounted assets that provide an opportunity for enhancement.

Prior to the acquisition, each property is thoroughly analyzed from a variety of perspectives to determine if it meets investment strategy criteria, which includes assessing for improvement or renovation opportunities and occupancy growth. The leadership team uses conservative financing while seeking to provide attractive returns to investors. The leadership team values transparency and commits to keeping investors fully informed of financial practices and policies through frequent communication and quarterly reports.

The McFarlin Group people have worked together for over ten years and have senior living experience that includes over $1.7 billion in total project costs over the last 19 years.

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