Seniors Housing Business

MAY-JUN 2018

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

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www.seniorshousingbusiness.com 35 May-June 2018 n Seniors Housing Business © 2018 BOK Financial Corporation. Services provided by BOKF, NA. Member FDIC. BOKF, NA is a subsidiary of BOK Financial Corporation. *Transaction included $1.1 million of junior debt financing from BOK Financial Capital Corporation, a subsidiary of BOK Financial Corporation. Banking Services Designed For Healthcare From A Partner With Experience You Can Trust. BOK Financial has experienced professionals who can help you balance growth and expansion while providing capital support. Multi-facility Senior Housing Operator Acquisition of a portfolio of properties $135 million loan syndication Maryland Skilled Nursing Facility Term loan & revolving line of credit for acquisition $23.6 million New York Multi-facility Senior Housing Operator Acquisition, finance & bridge loan for seven properties $20.5 million Colorado Real Estate Investment Firm Portfolio refinance for three senior living facilities $7.7 million Ohio Assisted Living Facility Owner/ Operator Refinance two senior living facilities $23 million Colorado & Oklahoma Skilled Nursing Facility Owner/Operator Acquisition of Senior Housing Campus $6.8 million* Missouri Recent Healthcare Client Credit Solutions 918.588.6405 | www.bokfinancial.com join us at the NIC conference. We said we hired a consultant and were going to test it on them. We walked them down to Build- A-Bear Workshop and made them build a bear that reflected their personalities. Then we walked them to the bar across the street, where the bartender said, "I'm your consultant" and analyzed each bear. Now we have all the bears displayed on the wall at the home office. Doing well vs. doing good SHB: You both do some non- profit work unrelated to seniors housing. Tell me a bit about what each of you does. Coughlin: I've gotten very involved in being the vice chair of an organization called Caritas Communities that develops and operates housing for those coming out of homeless shelters. It's the first step back into society. It lever- ages my real estate background and the social services aspect of our business. The second thing I spend time on is a board position at Beth Israel Needham, a local hospital. There's so much change in the hospital space. It's a very dynamic management team. I've found it to be very informative and a win-win for lessons learned to bring back to Northbridge. Nowokunski: As a company, we're very philanthropic. We are such believers in the idea that if we're doing well, we also want to do good. We want to give back. The Cure Alzheimer's Fund is a group of people in the Boston area who have pulled together some of the greatest minds and research on Alzheimer's disease. They're fund- ing research to find a cure. Over the past couple years, we've done fundraisers for them. Last year was quite an undertak- ing. Jim and I rode our bikes from each one of our communities. We had a little party/fundraiser at each community as we arrived. It gave us really sore legs, but it gave an opportunity for all the com- munities to participate — fami- lies, residents and associates — in something bigger than themselves. We rode 385 miles over six days from Brunswick, Maine, to Plym- outh, Massachusetts. It was inspi- rational. We need to do something because Alzheimer's disease is becoming such an epidemic by just the sheer number of people aging. Coughlin: It was supposed to be 350 miles, but we got lost. Nowokunski: The other thing I'm very passionate about is the One Angel Foundation in honor of my niece who was killed in a skiing accident at 22. She had touched so many lives with mis- sion work, particularly children. The foundation built two schools in Honduras, some housing for families with fresh water and a playroom at an orphanage in South Africa. It also offers scholar- ships for underprivileged children in the Unites States. SHB: What would people in the industry be surprised to learn about both of you? Coughlin: We're both artists. I don't think anybody knows that. That's been the genesis of our art- ist-in-residence program, which involves having trained artists teach first-time artists at our com- munities. It's been amazing to see what folks accomplish. Nowokunski: My dad lives at one of our communities, and he was an engineer his whole life, so his left brain was overtaxed. Painting has really opened his right brain. It's just extraordinary what he's been able to do with art through this program. He has Parkinson's disease and we have a tool that he uses to help him paint. The improvement in his painting — he's 88 now — is amazing. The life it brings to resi- dents is incredible. Coughlin: When we first started the company, we couldn't afford office furniture and artwork. So one weekend I spent the entire weekend painting all of our corpo- rate art. SHB: Is the art still there? Coughlin: One [piece] is in Wen- dy's office. Some of them didn't make the cut. n As a team-building exercise, Northbridge employees each designed a stuffed animal that is now on display at the company's home office.

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