Financial Information

Actual Forecast
2013 2014 2015 2016 2017
Number of Acquisitions/Development (1) 1 1 3 2 2
Cumulative 22 23 26 28 30
Units Managed 2,620 2,660 2,900 3,060 3,220
Beds Managed 2,815 2,860 3,118 3,290 3,462
Managed/Owned Revenues $ 138,639,664 $ 146,629,965 $ 160,575,349 $ 173,034,859 $ 186,210,389
Managed/Owned Expenses $ 103,668,525 $ 109,643,314 $ 120,071,795 $ 129,387,710 $ 139,239,780
Margin Before Debt Service (2) 25.2% 25.2% 25.2% 25.2% 25.2%
Number of Corporate Associates 17 17 17 18 18
Market Asset Value $ 558,848,039 $ 465,500,000 $ 507,500,000 $ 535,500,000 $ 563,500,000

Note: Margins on communities managed by Trinity Lifestyles Management, a Solomon affiliate at approximately 34%.