Seniors Housing Business

AUG-SEP 2015

Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.

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www.seniorshousingbusiness.com 53 August-September 2015 n Seniors Housing Business Which is why it pays to think big. Our big ideas led to more than $14 billion in seniors housing f nancing and capital markets transactions in 2014. With Key you get a powerful, national platform and the keen market insights that come from being a leader in seniors housing f nance. In the f rst six months of 2015, we: • Raised $2.5 billion in Equity • Placed $750 million in Debt • Sold $2.1 billion in Syndications • Originated $408 million on Balance Sheet • Closed $962 million Fannie Mae, Freddie Mac, FHA & Life Company loans Ideas are the new currency. To learn more, contact: Healthcare Finance Michael Lugli at 216-689-0851 or michael_v_lugli@keybank.com Healthcare Mortgage Banking Carolyn Nazdin at 202-452-4912 or carolyn_c_nazdin@keybank.com Visit key.com/healthrec Banking products and services are offered by KeyBank National Association. All credit, loan and leasing products subject to credit approval. Key.com is a federally registered service mark of KeyCorp. ©2015 KeyCorp. KeyBank is Member FDIC. ADL8154 150824-9546 "it's a beautiful lifestyle at (the name of the community)." What's more, the company never uses stock images in market- ing materials, displaying only real photos of employees and residents as well as testimonials. These branding techniques stretch across the company's 170 communities, but not everything transfers from location to location. Each community keeps its own look and culture so that it can best match the region and clientele of the area. Keeping communities unique is a strategy GlynnDevins supports. Although there are economies of scale to be found by using a single brand, McClure notes that a com- munity can end up with a brand that doesn't match reality. "Forcing an outside brand onto an acquired or new community can dilute the brand," says McClure. "Incorporating an outside brand involves understanding what the communities have in common and whether or not they are able to con- sistently deliver on the brand ben- efts that matter in each market." However, not all companies subscribe to this theory. Brookdale Senior Living, the country's largest seniors housing owner, last year acquired Emeritus Senior Living, the eighth largest owner at the time. The combined company, headquar- tered in Brentwood, Tenn., is still developing its rebranding cam- paign to bring all properties under the Brookdale name. Although Brentwood has described the process of rebrand- their families. As time went on, the community decided to open to all military veterans and eventually the general public. Seniors housing marketing frm GlynnDevins helped the com- munity rebrand as Blue Skies of Texas, keeping a close relationship with its roots while still opening its doors to all seniors. "It was a delicate balance to not only maintain their strong history and still have a high number of veterans, but also open themselves up and make sure both existing residents and new were comfort- able with that," says Molly White, director of strategic planning for GlynnDevins. "It wasn't just an identity change. It was a culture change for the community. We were able to dig deep, talking with residents and staff on what underlying values of military service would appeal to the broader audience," adds White. Seniors housing marketing frm Love & Company has rebranded several faith-based communities. In Baltimore, it rebranded Augs- burg Lutheran Home & Village, a nonproft CCRC, to simply Augs- burg Village. The idea, according to a case study from Love & Company, was to "create a clear but not overpow- ering connection to the Lutheran sponsorship of the community." The company created a brand that, instead of "for Lutherans," was "by Lutherans for all." In the frst year of the new brand, Augsburg Village's new leads nearly doubled from 268 to 478. Occupancy rose from 82 percent to 90 percent in that time period. "Some have found that 50 years ago the religious affliation in their name had a strong operational reality, but it now has much less of a denominational infuence," says White of GlynnDevins. "You have to fnd the underlying values of the religious affliation and broaden from there." — Jef Shaw

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