Question 1: How many communities do you have?

• Answer: Aquinas currently operates seven (7) senior living communities, with several more currently in the acquisition pipeline.

Question 2: Are you real estate people, or are you senior living people?

• Answer:[Answered by Len Poncia] Frankly, we are both.
  • Len Poncia has spent 44 years developing and designing commercial real estate projects, and 36 years as part of an organization dedicated to caring for the elderly.
  • Jim Burnham [not present on the webinar] has spent his entire career in senior living, and his parents were pioneers in the senior living industry.
  • The team combines these two deep fields of expertise to successfully acquire, rehabilitate, and operate these properties.

Question 3: What is your current occupancy and growth potential?

• Answer:[Answered by Steve Schmid / Michael Hines]
  • Because Aquinas opportunistically buys challenged properties that need to be turned around and repositioned, the portfolio-wide occupancy is currently approaching 80%.
  • The long-term goal is to exceed the industry-wide average, which currently sits at approximately 90%. This gap represents strong physical occupancy growth potential.
  • Additionally, Aquinas has implemented a tiered pricing plan across their communities, which is expected to drive top-line revenue growth as residents pick up additional services.

Question 4: Are you paying monthly distributions yet? If not, when do they start?

• Answer: Yes, monthly distributions have already commenced. They officially started in May, and payments are distributed regularly around the middle of each month (with a payment distributed on the day of the webinar recording).