Their energy is contagious.” – Laura Ledden, National Account Executive, Entegra. That seems to be the case for the owners of Holiday Retirement Corporation and its controlling shareholder, industry legend Bill Colson.

Watching the response from Chinese consumers was a ‘wow’ moment for Lilly. We heard that about a dozen potential bidders were contacted by Holiday’s representatives, Bank of America and Cohen & Steers, and that perhaps four to five were going to be invited to the now standard “second round” of bidding.

“We don’t want to just say it; we want to live and breathe it.”, But how does Holiday Retirement help older people to live better? Karen Sheean is chief people officer for Holiday Retirement.

It appears that one of the bidders really wanted to get the deal done, and in a hurry, and decided to accommodate the seller in structure and price, mostly, we hear, by agreeing to a quick closing and being the least demanding with regard to due diligence.
It will come as no surprise that the winning bidder, or so we hear, is none other than Fortress Investment Group, the controlling shareholder of Brookdale Senior Living (NYSE: BKD). If your loved one was injured inside a Holiday Retirement community, contact our experienced senior living injury attorneys. She is focused on her employees, and would much rather spend her time aiding their success, which in turn benefits the company. She’s sitting down with The CEO Magazine to discuss how Holiday Retirement is reinventing itself from innovative new programs to engage residents to creating a culture where employees have a voice in how to do things differently. A gentleman, an honorable man, a straight-shooter, a sage of the industry and obviously one of its smartest investors. That seems to be the case for the owners of Holiday Retirement Corporation and its controlling shareholder, industry legend Bill Colson. [])), +((!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![]+[])+(+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![])+(!+[]-(!![]))+(!+[]+(!![])+!![]+!![])+(!+[]+(!![])-[])+(!+[]+(!![])+!![]+!![])+(!+[]+(!![])+!![]))/+((!+[]+(!![])+!![]+!![]+!![]+!![]+[])+(!+[]+(!![])+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![])+(!+[]+(!![])-[])+(!+[]+(!![])+!![])+(!+[]+(!![])+!![])+(!+[]+(!![])+!![])+(+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![]+!! If it is going to help an older person live better on their terms, rather than always saying no, we ask ourselves ‘Why not?’ Why can’t we do it?

“I like to think of us as the next generation of operators in this industry where we want to be creative, smart, adaptable and not scared to take risks on behalf of our customers. After all, who would have thought that Brookdale would more than double in price within six months of its IPO? But we don’t want to underestimate the financial savvy of the Fortress people and their ability to structure transactions for the benefit of their investors. That means the current cash-on-cash return will be in the low single digits, and a spike in interest rates could really put the squeeze on. How do they achieve an IRR that could be double the cap rate? “We needed to shift from a real estate-based business to a services business where our customers come first. A CEO can’t make success happen by just shouting out, ‘We want to be a great place to work’. Our guess is no one. If I do that repeatedly, I believe I am changing the world in some small way and impacting someone’s life for the better.”. So on a stabilized basis this development activity could add about $20 million per year to EBITDA, and before you know it you have a pro forma cap rate moving closer to 6.5% in a few years. She also admits that it already has a great customer base, with a large number of retirees either living in, or flocking to, Florida. I’m definitely helping by fostering and trying to share the importance of it, but my people are the ones doing it.”, Lilly got her start on the finance side, but made her mark in the retirement industry when she was involved with Starcastle in 2011, the first privately owned continuum care retirement community in Shanghai, China. We reported last month that the rumored asking price was in the $6.0 billion to $7.0 billion range, and we subsequently heard that the effective cap rate would be between 5.50% and 6.0%.

This push to allow the staff within Holiday Retirement to act and make decisions by themselves has proven fruitful. It owns or leases the properties, builds the housing, and is responsible for renting them out. In any event, when you have been through the worst of times (four to five years ago), and you emerge into the best of times just a few years later, a prudent seller may not want to wait for the market to get even better. “That experience of helping build it from a blank piece of paper was my big learning moment, and where I found so much joy. There is the purely logistical challenge of being a retirement community. It was a joint venture between Fortress Investment Group, of which she was Managing Director, and Fosun Group. No matter how you look at the transaction, or what assumption is used for an exit strategy, the pricing is rich. With the rumors first circulating two months ago that the company was going to be put up for sale, it was apparent that only the largest players, with access to at least $1.0 billion to $2.0 billion of equity, would be invited to the dance.

We are no longer laughing.



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