By many measures Five Star makes a strong case as a solid investment opportunity. With the national platform of senior living communities, as of year end we operated 245 properties in 30 states with 27,000 living units.
We generate annual revenues in excess of $1.3 billion and we employee over 25,000 people. Our communities are predominantly private pay. Our properties are not dependent upon government sources, Medicaid and Medicare and that’s been a hallmark to Five Star to coming public decade ago.
Demographics are clearly in our favor, demand is really strong and new supply will be extremely limited over the next several years. Five Star is a great operator, we are the only company among the four largest public senior living operators has been profitable over the last eight quarters. We’ve achieved this by pushing rate and maintaining very tight expense controls, Paul will detail that in a little bit.
And last, but certainly not least, Five Star is a consolidator in this market. We closed on several deals last year that made 2011 a pretty exciting year for us on the acquisition front. We took on about 40 communities, almost 5000 units that are almost all private pay.Five Star offers an [excellent] solution for seniors. At year end we operated 207 independent and assisted living communities. We also operated 38 skilled nursing facilities. Our communities range from large to small and from high-end to moderate. The average number of community units per community is 107 and our average monthly rent is $4,500.The chart on the right shows our breakdown of units by type, we’re about 30% independent living, 50% assisted living and 20% skilled nursing. About 2000 of our AL units offer Alzheimer or dimension care also above 35% of our skilled nursing units, I mean, continuing care retirement communities or CCRCs. CCRC is a campus like setting, that is independent living, assisted living and skilled nursing, all in one property.
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