Harbor Heights Case Study

lkassetadvisors.com | 615.622.8900 ©2022 LK Asset Advisors 78,000 SQ.FT. 423.17% $3.84MILLION FULLY REN OVATED IN A 10-MONTH PERIOD NET REVENUE INCREASE JUNE 2020 TO OCTOBER 2022 TOTAL CAPITAL IMPROVEMENTS Heights to expand the Memory Care Unit to capitalize on growing demand in that sector. Today, Harbor Heights is the largest Memory Care unit in the area. Results • Projected stabilization period: 30 mos. • Average annual revenue per AL Waiver Room: $114,980.00 • Cost to renovate resident room: $8,037.00 (7% of average annual room revenue) • Occupancy increase June 2020-November 2022 86.44% • 2020 Average Daily Rate per resident $37.00 • 2022 Average Daily Rate per resident $157.00 • Net operating cash flow increase 2020-2021 161.42% • Net operating cash flow increase 2021-2022 73%