- Additional Cash From Facility Operations (“CFFO”) of $3.6 million, or $0.13 per share.
- Incremental earnings of $2.0 million, or $0.08 per share.
- Increases annual revenue by approximately $20.4 million.
- Average occupancy above 95%.
- Average monthly rents are approximately $3,200.
“These acquisitions continue the successful execution of our strategic plan for accretive growth. We continue to enhance our geographic concentration by acquiring high-quality senior living communities in existing markets that generate meaningful increases in CFFO and earnings,” said Lawrence A. Cohen, Chief Executive Officer of the Company. “Our competitive strengths enable us to execute on attractive acquisitions and benefit from historically low interest rates. The exceptional returns generated by these acquisitions complement the positive results we are achieving in our operations with increases in occupancy and average monthly rents. These encouraging trends reflect the fundamental strength of our substantially all private-pay business as we benefit from need-driven demand and limited new supply.”ABOUT THE COMPANY Capital Senior Living Corporation is one of the nation’s largest operators of residential communities for senior adults. The Company’s operating philosophy emphasizes a continuum of care, which integrates independent living, assisted living and home care services, to provide residents the opportunity to age in place. The Company currently operates 99 senior living communities in geographically concentrated regions with an aggregate capacity of approximately 13,300 residents. The forward-looking statements in this release are subject to certain risks and uncertainties that could cause results to differ materially, including, but not without limitation to, the Company’s ability to find suitable acquisition properties at favorable terms, financing, licensing, business conditions, risks of downturns in economic conditions generally, satisfaction of closing conditions such as those pertaining to licensure, availability of insurance at commercially reasonable rates, and changes in accounting principles and interpretations among others, and other risks and factors identified from time to time in our reports filed with the Securities and Exchange Commission. This release contains certain financial information not derived in accordance with generally accepted accounting principles (GAAP), including adjusted CFFO, adjusted CFFO per share and other items. The Company believes this information is useful to investors and other interested parties. Such information should not be considered as a substitute for any measures derived in accordance with GAAP, and may not be comparable to other similarly titled measures of other companies. Contact Ralph A. Beattie, Chief Financial Officer, at 972-770-5600 for more information.