October 28, 2016
Exhibit 99.2
October 28, 2016
Xx. Xxxxx X. Xxxxxx, Xx.
Five Star Quality Care, Inc.
000 Xxxxxx Xxxxxx
Newton, MA 02458
Four Georgia AL/IL Properties
Dear Xxxxx:
The purpose of this letter is to confirm our understanding and agreement that Five Star Quality Care, Inc. (“FVE”) will take over operations of the four senior living communities described below:
Property | Street Address | City, State | IL Units | AL Units | MC Units | Total Units | ||||||
Dogwood Forest of Gainesville | 0000 Xxxxxxxx Xxxxxx Xx. | Gainesville, GA | 85 | 43 | 20 | 148 | ||||||
Dogwood Forest of Fayetteville | 0000 Xxx 00 Xxxx | Xxxxxxxxxxxx, XX | 0 | 44 | 18 | 62 | ||||||
Dogwood Forest of Alpharetta | 000 X. Xxxx Xx | Xxxxxxxxxx, XX | 0 | 56 | 20 | 76 | ||||||
Dogwood Forest of Eagles Landing | 000 Xxxxxxx Xxxx Xx. | Xxxxxxxxxxx, XX | 0 | 43 | 18 | 61 | ||||||
85 | 186 | 76 | 347 |
Five Star will manage these communities for SNH on substantially the same terms and conditions as are applicable to the property known as Chateau Vestavia in Birmingham, Alabama.
We expect Five Star’s management of these four Georgia communities to begin on November 23. The transition of management to Five Star is conditioned on our obtaining any required approvals, including lender approvals, and the effective termination of the current manager of these communities.
October 28, 2016
Page Two
Please confirm your agreement with the foregoing by signing below where indicated and returning a copy of this letter so signed to me.
Very truly yours,
/s/ Xxxxx X. Xxxxxxx
Xxxxx X. Xxxxxxx
President
AGREED:
FIVE STAR QUALITY CARE, INC.
By: /s/ Xxxxx X. Xxxxxx, Xx.
Xxxxx X. Xxxxxx, Xx.
President