Investor Presentaiton
RESIDENTIAL PORTFOLIO - COMPARABLE CONTINUED (3)
(in thousands) (unaudited)
Operating margin
Owned (1)
Managed (2)
Subtotal
Depreciation
Q4 2020
(3)
Q1 2021
(3)
Q2 2021 (3)
Q3 2021
(3)
Q4 2021 (3)
(17.5)%
11.1 %
(17.4)%
(17.7)%
(5.1)%
(25.2)%
8.8 %
10.1 %
7.1 %
3.5%
8.9 %
6.8 %
7.9 %
6.1 %
1.1 %
Owned (1)
1,968
1,987
2,024
2,053
2,166
Managed (2)
2,622
3,256
3,678
4,408
5,276
Subtotal
4,590
5,243
5,702
6,461
7,442
Management Fee
Managed (2)
9,643
9,281
8,449
7,941
7,805
EBITDA
Owned (1)
Managed (2)
Subtotal
EBITDA margin
Owned (1)
Managed (2)
Total
(849)
(671)
(602)
1,298
(1,560)
14,458
10,340
12,260
7,753
2,992
13,609 $ 9,669
$
11,658 $
9,051 $
1,432
(5.3)%
(4.4)%
(4.1)%
8.8 %
7.5 %
5.6 %
7.3 %
4.9 %
(10.5)%
1.9%
6.5 %
4.8 %
6.4 %
5.2 %
0.8%
(1) Financial results for senior living communities that we have continuously owned since October 1, 2020, and excludes four communities leased from PEAK with approximately 200 living units where the leases
were terminated on September 30, 2021.
(2) Financial results are community level and are not included in ALR's consolidated results of operations. ALR earns 5% management fee on revenues recognized by community based on U.S. GAAP. Financial
results for senior living communities continuously managed since October 1, 2020, and excludes (i) 107 senior living communities previously managed for DHC that were transitioned to new operators in 2021
and one senior living community managed for DHC that was closed in February 2022 and (ii) 1,532 SNF units in 27 CCRCs that were closed during the year ended December 31, 2021 and are in the process of
being repositioned that we will continue to manage for DHC.
(3) Exclusive of the Provider Relief Funds under the CARES Act, and other government grants recognized as other income. In addition, exclusive of restructuring expenses of $10.2 million, $0.2 million and
$0.3 million for Q2, Q3 and Q4, respectively, for the retained managed portfolio.
Appendix
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