Chicago, IL June 15, 2010—Jay Beckhorn recently joined Heavenrich & Company as Northeast Regional Director. Jay has twenty years of experience in senior living and real estate finance, development, workouts, acquisitions and dispositions. He served as senior vice president in the capital group at Sunrise Senior Living, one of the largest publically traded senior housing companies. During his tenure there, Jay worked with lenders and institutional investors to arrange debt financing for 200 new Sunrise communities. At Sunrise, he secured $4 billion of loans provided by commercial banks, life insurance companies, Fannie Mae and Freddie Mac.

"Jay brings a wealth of experience to our team and will be working with clients on both divestitures, acquisitions and Capital Markets needs. He is a versatile and knowledgeable professional," said Adam Heavenrich, President. "Clients like Jay because he is a great listener. He spends a great deal of time understanding their situation and goals, and is innovative in finding solutions". He will be joining Tim Cobb in the Mid-Atlantic Region.

Chicago, IL October 16, 2009—Heavenrich Capital Markets arranged fixed rate financing totaling $17.5mm for Capital Lending and Mortgage Group, an affiliate of Capital Funding Group. The loan was secured by four skilled nursing facilities in Indiana totaling 396 beds with average census of 75%. A regional bank provided the financing at a 75% LTV and received assignment of collateral documents for the underlying facilities. The facilities will be bridged to HUD to allow for seasoning of these facilities. Heavenrich Capital Markets Senior Director Tim Cobb, along with Dmitry Minkovsky, Senior Analyst, worked on behalf of the borrower.

Chicago, IL October 12, 2009—Heavenrich & Company, Inc. is pleased to announce the sale of a 53-bed assisted living facility in Nevada. The transaction closed in September 2009. The acquirer is Milestone Retirement Community, LLC. Milestone has facilities in nine states in the West. The acquisition will strategically expand that operating platform. At a sales price of $108,000/unit, the deal closed at a highly competitive value despite turmoil in the overall market.

Heavenrich represented the Seller, who expressed satisfaction with the process and guidance of Heavenrich: "I can't tell you how nice it feels to know that Heavenrich handled all of this. It's so rare to come across persons that you can completely trust. Both their judgment as well as their intelligence! All I can offer in return is a very very large "Thank You?!"

Heavenrich also announced that a portfolio of skilled nursing facilities near Houston was placed under contract. Owned by a local operator seeking to exit the business, the Buyer is a large East Coast operator seeking to enter the Texas senior care market. The portfolio consists of four facilities strategically centered in one county, affording an exceptional barrier to entry. A fifth facility in Northwest Texas is being rolled into the acquisition, which will establish the buyer's Texas platform.

Chicago, Illinois July 17, 2009—Heavenrich & Company, Inc. is pleased to announce that a 53-bed assisted living facility in Nevada is under Contract. The transaction is scheduled to close August 2009. The acquirer has an established presence on the West Coast, and the acquisition will strategically expand that operating platform. At a sales price of $108,000/unit, the deal will close at a highly competitive value despite turmoil in the overall market.

As both parties near the closing table, the Owner expressed satisfaction with the process and guidance of Heavenrich: "I can't tell you how nice it feels to know that Heavenrich is handling all of this. It's so rare to come across a person that you can completely trust. Both their judgment as well as their intelligence! All I can offer in return is a very very large "Thank You?!"

Heavenrich also announced that a portfolio of skilled nursing facilities near Houston was placed under Letter of Intent, shortly after the initial offering. Owned by a local operator seeking to exit the business, the portfolio is under exclusive Letter of Intent for over $30,000/bed. The Buyer is a large East Coast operator seeking to enter the Texas senior care market. The portfolio consists of four facilities strategically centered in one county, affording an exceptional barrier to entry.

Chicago, Illinois January 27, 2009—Heavenrich & Company today announced engagements on the sale of two skilled nursing portfolios in Texas. The first portfolio includes four nursing homes located in central Texas, where the Owner is looking to retire from the industry. Heavenrich was engaged to value the portfolio and identify strategic buyers. "One of the most important things to our client on this transaction is certainty of execution," said Rod Fearon, Texas Regional Associate. "Regulations in Texas with regards to State notification of ownership transfer means that an operator could find themselves with a working capital shortfall. There is a period when Medicaid funds are shut off just prior to closing, which can result in a working capital shortfall in the millions. A misstep with a buyer or their financing source could be costly. We spend a lot of time screening not only buyers, but their debt and equity sources to provide the highest certainty of a closing." The transaction is under Letter of Intent and closing is expected in the 2nd quarter of 2009.

Additionally, Heavenrich was recently engaged on the sale of a portfolio being sold under a credit default. The seller was facing the prospect of returning the portfolio to the lender. The portfolio in Texas included 4 skilled nursing facilities and 462 beds. Heavenrich identified a well capitalized operator that allowed the seller to walk away with equity. The closing is scheduled at the end of January, just 60 days after Heavenrich had been engaged.

Heavenrich & Company also announced a new engagement for the sale of a 58 bed assisted living facility in northern Nevada. The facility represents a tremendous opportunity as is the sole healthcare provider to the community. For more information, contact Alec Schiffer at (303) 929-3031.

Chicago, Illinois January 5, 2009—Heavenrich & Company, Inc., a leading senior housing mergers and acquisition advisory company announced today the launch of a dedicated Capital Markets group. Heavenrich Capital Markets is focused on providing debt and equity financing solutions for healthcare real estate owners and operators.

Tim Cobb, formerly a vice president with KeyBank's Real Estate Healthcare Finance Division and investment officer for GE Capital's Healthcare Real Estate business will be leading the new division.

"With lenders and equity players requiring more rigorous standards and higher yields, there is an unprecedented need for creative structuring and packaging of senior housing transactions to assure crossing the finish line," said Tim. "Our goal is to analyze a client's existing portfolio and/or acquisition needs, recommend the best capital structure, and find them the best deal."

"This new platform enhances our ability to provide a greater variety of solutions for our clients," said Adam Heavenrich. Heavenrich & Company's advisors from both the finance and M&A disciplines allow senior housing owners and operators a fuller spectrum of options. These new services complement the existing 15+ year M&A and Investment Sales advisory services of Heavenrich & Company.

In addition to senior housing, Heavenrich Capital Markets will provide financing options for owners of medical office buildings, surgery centers, clinics and other healthcare real estate.

Based in Chicago with the new Capital Markets practice based in Chevy Chase, MD, Heavenrich & Company has offices in San Diego, Houston, Chicago, and Washington, DC. More information can be obtained at www.heavenrich.com or by calling Tim Cobb at (240) 396-6113.

Chicago, Illinois August 1, 2008—Heavenrich & Company today announced the closing of a portfolio of two Alzheimer's care facilities in the Birmingham, Alabama metropolitan area. The portfolio was owned and operated by a private partnership until being acquired by Senior Housing Properties Trust. Five Star Quality Care, Inc will be operating the facilities. The facilities are both licensed for Special Care Assisted Living (SCALF) and their combined total of 112 units provide the only intensive Alzheimer's care in the area. The facilities were built in 1998 and are located 3.5 miles apart in a very affluent area. They each have average occupancy rates of approximately 98%. Despite a lengthy HUD approval process that began before the current credit crisis, the transaction closed without an adjustment to the purchase price at $125,000/unit.

Heavenrich & Company also announced the successful sale of a distressed 48-bed skilled nursing facility in southern Texas. Premont Nursing Home was sold by a private investor to another private investor.

Finally, Heavenrich & Company today announces that its president, Adam Heavenrich, will have an article published in Assisted Living Executive's September 2008 issue. It is entitled "Credit Crunch, No Crisis" and describes the effect of the current credit situation on the senior living industry.

Chicago, Illinois February 27, 2008 - Heavenrich & Company announced that it has been engaged on an exclusive basis to serve as advisors on the sale of a multi-facility assisted living and independent living portfolio. The portfolio, located in the western United States, is expected to exceed a value of $180M.

In the first two months of 2008, Heavenrich has been engaged on assignments valued at approximately $300M comprised of four portfolio engagements. This represents a record first quarter for total engagements in estimated transaction amount. The first quarter of 2008 is proving to be the best quarter in Heavenrich & Company's 13-year history.

In addition, Heavenrich has been engaged with The Chartis Group to provide strategic vision and financial advisory services for the sale of a skilled nursing portfolio on behalf of an East Coast organization with a transaction value expected to exceed $50M. The Chartis Group provides strategic management consulting services to the healthcare sector, and has been engaged with industry leaders including: 10 of the top 17 Medical Centers in the US; 4 of the top 5 children's hospitals in the country; 12 of the top 20 heart hospitals nationwide. In partnering with The Chartis Group, Heavenrich is able to provide financial advisory services that address an organization's strategic vision as it moves through a sale process.

Heavenrich & Company announced the most recent addition to its analyst team, Dmitry Minkovsky of Reisterstown, Maryland. Dmitry earned a B.S. in Chemistry from the University of Chicago and is based in the Chicago office. He was hired through the Metcalf fellowship program at the University of Chicago, which provides affiliated employers with the best and brightest from the University. Heavenrich hires Metcalf participants for both summer internships and full-time positions. From Chicago, he leads the national analyst team and focuses on market research and facility operations. Dmitry also oversees the preparation of offering materials.

Chicago, Illinois October 26, 2007 - Heavenrich & Company announced that it has been engaged on an exclusive basis to serve as advisors on 17 separate advisory assignments to senior housing organizations. The total estimated transaction amount related to these assignments is approximately $174,000,000. This represents a record number of engagements.

Heavenrich & Company's singular focus remains to provide each client the advisory services customized to the client's goals, with a high level of attention and analysis dedicated to each engagement. We are seeing an unprecedented growth, as clients are responding to our unique team approach. The firm is organized so that each regional office provides extensive knowledge of the dynamics and players in their particular market, while our advisors cooperate by working as a team with a national presence for the benefit of each client, said Adam Heavenrich, president, Heavenrich & Company. With many of our transactions, we are advising owners who want to either sell the operations, the real estate associated with the operations, or both.

Heavenrich also noted a growing demand among buyers interested in acquiring multi-facility portfolios. In several situations, we are able to bundle separate transactions, which adds value for both buyers and sellers. In grouping the transactions, due diligence becomes significantly less expensive and a buyer can immediately establish a larger presence in a region by buying several of these offerings at once. This approach also provides owners with smaller offerings access to a broad range of buyers, including large regional and national firms seeking platform-launching, multi-facility acquisitions.

Heavenrich is currently engaged on transactions throughout the country, including, Georgia, Alabama, New Hampshire, Wisconsin, Iowa, Oklahoma, Nevada, Texas, and California. Engagements are fairly evenly distributed between assisted living, independent living, and skilled nursing. The activity in Texas, however, is primarily in skilled nursing, where Heavenrich is currently engaged to sell a total of 806 beds among nine skilled nursing facilities spread throughout the state. These skilled nursing facilities run the spectrum from highly profitable to distressed, offering opportunities to buyers who are interested in acquiring operationally stabilized facilities as well as those seeking turn-around potential.

Chicago, Illinois January 3, 2006 — Heavenrich & Company, Inc. today announced the closing of the sale of Riverpark Senior Residence, a landmark building in downtown Bradenton, Florida that had hosted presidents and crime kingpins after its 1926 grand opening. Most recently, it had been used for low to moderate income assisted and independent living.

The seven story structure was not well suited to today's standards of independent living as the typical room size was under 250 square feet. The small footprint and multiple stories of the 84,346 gross square foot building also made it difficult to serve the more acute residents for assisted living. As a result, Riverpark had never been profitable as a senior housing facility. At the time of sale, it had 105 residents in the 131 units. Bradenton, however is undergoing a boom in the housing market, which presented buyers a unique opportunity for a historic rehab and condominium conversion. Bradenton, Florida claimed the number one spot in metropolitan areas in the nation with the greatest home price appreciation in the first quarter of 2005.

The acquirer was a local developer, Kendar Corporation, with a strong reputation for historic rehabs in this market. The purchase price was $3,500,000. The renovation would preserve the historic exterior of the building. The interior would be converted to approximately 50 condominium units with a sales price of between $220,000 to $400,000.

Heavenrich served as advisors to the sellers, Illini Hotel Enterprises, a Chicago-based partnership. Jones, Lang LaSalle served as advisor to the Buyer.

In other news, Heavenrich has been engaged on four new senior housing assignments in which they are representing the sellers. The first is a Tennessee-based organization with four facilities in two states. The facilities include assisted living and Alzheimer care. Two of the facilities have extensive land for construction of townhomes or condos.

The second engagement is also a Tennessee-based organization that is selling an existing skilled nursing facility that is over 200 beds.

The third engagement is the sale of four skilled nursing homes in Oklahoma. The Owners are considering running the sale under an auction format. Qualified operators would be invited to Oklahoma for the auction.

Finally, the fourth engagement is representation on the sale of a campus in Virginia, which has two assisted living facilities, Alzheimer care and nearly 100 acres of developable land for townhomes or independent living.

Chicago, Illinois November 3, 2005 — Heavenrich & Company, Inc. today announced the sale of two skilled nursing homes in Texas. The first facility is a 120 - bed nursing home in Lumberton, Texas, known as the Lumberton Rehabilitation Center. The second facility is a 119 - bed nursing home in Hederson, Texas, known as Southwood Nursing Rehabilitation Center. Heavenrich had been retained by the Owners, which included an operating partnership and a real estate partnership. The total transaction amount was $7 million.

The Owners had a tight timeframe for completing their transaction. Heavenrich & Company was able to identify qualified buyers at the price the Owners wanted and close on the transaction in under 60 days. Adding to the challenge, Hurricane Rita went directly through Lumberton, Texas on September 7. Nonetheless, all due diligence was completed on schedule for the November 1 closing date. Omega Health acquired the real estate and will lease it to Nexion Health, Inc.

Heavenrich & Company is a financial advisory company serving independent, assisted living, Alzheimer and skilled nursing organizations. Since 1994, Heavenrich has advised public and privately held for-profit and non-profit healthcare organizations in facility sales, mergers, acquisitions and finance. Heavenrich has offices in Chicago, Houston, and Miami.

Heavenrich & Company is a financial advisory company serving independent, assisted living, Alzheimer and skilled nursing organizations. Since 1994, Heavenrich has advised public and privately held for-profit and non-profit healthcare organizations in mergers, acquisitions and finance.

Chicago, Illinois August 31, 2005 — Heavenrich & Company, Inc. today announced the 203-bed nursing home, Victorian Manor of LaGrange, Illinois was sold August 25, 2005. Heavenrich had been retained by The Inland Real Estate Group of Companies, Inc., which are headquartered in Oak Brook, Illinois, to sell the Chicago area skilled nursing facility that was owned by one of their public income funds. Inland employs more than 1,000 people in 21 states and has $13 billion of assets under management and more than 100 million square feet of commercial real estate in various portfolios. Inland ranks as one of the largest owners of specialty real estate in the United States.

According to Phil Menolascina, vice president of Inland Real Estate Investment Corporation, "We were very impressed with Heavenrich & Company's execution. They did their homework on a very complex transaction and added value through an innovative marketing approach. They brought in a base offer which unbundled the real estate from the operations. This established a threshold for the bidding, which was high. The bottom line was we had multiple letters of intent that exceeded our expectations. The buyer we selected gave us the unique terms that we were seeking."

In other news, Heavenrich announced that the 70-bed assisted living facility, in Winter Garden, Florida sold on August 30, 2005. Mr. Heavenrich added, "This was an unusual situation where the owner, out of loyalty, wanted the management company to stay on. We identified a financial buyer that was seeking management expertise and willing to pay a premium on the transaction as a result. The management company and the financial buyer had good chemistry from the start. It will be a platform acquisition for the financial buyer and the management company will have the opportunity for growth." The transaction price was $5.8 million on $526,000 in trailing EBITDA. While the cap was 9.07%, the facility had 100% occupancy with a waiting list. The 10- acre campus had room for a needed 18-unit expansion of assisted living, as well as room for additional expansion. Heavenrich represented the seller, James Development Firm, of Minnesota. The buyer was a privately held healthcare investment fund based in Maryland.

In May, 2005 Heavenrich closed on a transaction in which it served as advisors to SunBridge Healthcare, the inpatient subsidiary of the publicly traded Sun Healthcare Group. SunBridge provides skilled nursing care, long-term residential care and specialized healthcare services in 103 facilities across the United States. Heavenrich served as advisors to SunBridge on the valuation and acquisition of skilled licensed beds in Exeter, New Hampshire.

Heavenrich & Company is a financial advisory company serving independent, assisted living, Alzheimer and skilled nursing organizations. Since 1994, Heavenrich has advised public and privately held for-profit and non-profit healthcare organizations in facility sales, mergers, acquisitions and finance. Heavenrich has offices in Chicago, Houston, Miami and New Haven.