Background History of Affiliated Predecessor Entities

In 1982, the original predecessor management entity, American Senior Inns (“ASI”), was founded by Mr. Haffner who served as the Chairman and CEO. ASI was formed to manage the first seven American Senior Inns in Santa Monica, Torrance, Irvine, Thousand Oaks, Valencia, Anaheim Hills, and Van Nuys.

In 1992, Mr. Haffner formed American Senior Living Inc. to reflect the change in product platform from “Inns” to a more upscale senior living community such as The Carlyle, a CCRC senior community that his company developed in San Francisco and Rossmoor Regency, Laguna Hills, California.

American Senior Care Inc. was formed in 1998 to manage the AEW portfolio, commonly known as Pacific Gardens, in Santa Monica, Tarzana, and Chino, California. Subsequently, in 2008, ASL Monarch Living Inc. was formed to reflect the new “Monarch” brand platform that was first developed in Tarzana, California. Finally in 2014, Monarch Senior Living LLC was formed as a Haffner family entity as a result of estate planning and to manage the new Monarch Cottage, memory care communities, and the updated Monarch Village IL, AL, and MC communities being developed.

A significant number of key employees have remained with the company throughout its 35 year history. At the center of this successful company are core values and principles that Mr. Haffner and his team have refined over the years. In addition, the systems, policies, and procedures that Mr. Haffner and his team created in the 1980’s, and refined in later years, remain the benchmark for the entire industry.