First Care Management Group

The need for well-managed retirement housing continues to grow at an unprecedented rate. Census studies reveal that people over age 65 are the fastest growing segment of our population. Despite these strong demographics, the senior housing industry is littered with well-documented cases of failed investments, over-building, and poor operators. Potential residents, their families and the investors choosing this arena for quality living or returns on investment all deserve a management company that is uniquely positioned to serve their respective needs.

About UsManagement

ABOUT US

The Principals of FCMG have studied, owned and operated affordable to luxurious senior living communities across the country. Our collective experience and expertise is singularly focused on providing the highest level of quality and care to our residents, and exceptional financial results for the owners of those communities.

Our executive staff has documented long term success in both the independent and assisted living arenas, as well as distressed asset experience. The principals have been actively engaged in the acquisition and asset management of independent and assisted living facilities since the late 1980s and the management of assisted living facilities since 1997. The management team has been engaged in the acquisition of multi-family projects for a publicly traded REIT and the acquisition of distressed commercial and multi-family real estate for private investment partnerships. All principals have extensive and wide-ranging business and financial management experience and valuable industry contacts.

Given the collective experience of First Care Management Group’s team, FCMG is thoroughly qualified to provide the following activities necessary to ensure success in the acquisition and management of Senior Living Centers:

  • Seek out and identify acquisitions that meet specified investment criteria
  • Complete necessary due diligence
  • Properly structure acquisitions to meet required investment returns
  • Provide asset and property management functions
  • Provide accurate and timely investor reporting

MANAGEMENT

MANAGEMENT

The principals of First Care Management Group (FCMG) have a diverse collection of experiences in both ownership and management within the senior housing industry.

PROPERTY MANAGEMENT

FCMG recognizes the difference in perspective between ownership and management. As owners, we held high but reasonable expectations of our management companies. Simply stated, we demanded financial performance tied to our predetermined investment objectives. To assist this effort, we desired excellent communication, timely and accurate financial data, and summarized monthly reports from each property.

We found no shortage of property management companies who agreed with these principles, but remarkably none that were able to carry out the mission. Accordingly, we have learned the hard way about prolonged operating losses and excessive capital calls to fund those losses. We lived through periods of poor communication and even no communication! We know how helpless ownership can feel. Ultimately, in 1996 we set out to create a management company worthy of our own high standards. We utilize “census-based” budgeting and manage for net operating income stability versus maintaining occupancy at any cost. To us, this is simply fiscal responsibility that maximizes property value.

ASSET MANAGEMENT PROFICIENCY

First Care Management Group is well versed in asset management. Having experienced ownership, we understand what it takes to make a senior housing investment successful. For us, that success begins with understanding the investor’s expectations and then collaborating to create the corresponding acquisition criteria to meet those expectations. Our reputation and contacts gives us a decided edge in locating potential acquisitions that meet an investor’s criteria. We have successfully worked with capital partners of all sizes to design and implement acquisition strategies. Once a property is acquired, we create a comprehensive plan designed to maximize value. First Care Management Group provides asset management services that encompass:

  • Acquisition strategy and investment criteria development
  • Due diligence and valuation analyses
  • Disposition analyses
  • On-site property management oversight
  • Operating budget development oversight
  • Capital budget development oversight

DIVISIONS

PHYSICIAN’S CHOICE HOME HEALTH CARE

At Physicians Choice Home Health Care, we provide a seamless continuum of health care, education, and advocacy for our clients and their families because we recognize that the choice of a home health care agency is one that is ultimately made by the patient. Physicians Choice Home Health Care is not only the choice for patients, but also the home health choice for hundreds of physicians.

http://www.pchhc.com

PARSON’S HOUSE ON EAGLE RUN

The thoughtful design and decor of Parsons House on Eagle Run creates a warm and inviting atmosphere that feels like home. Our social focus emphasizes activities and programs that encourage independence, socialization, and contribute to each resident’s sense of well-being. Our comprehensive menu of assisted living and memory care services is tailored to meet the individualized needs of each resident.

http://www.parsonshouseoneaglerun.com/

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