The Cottages - Assisted Living and Memory Care at its Best. We own and operate over two facilities in three states and have a strong track record in developing and operating successful AL and MC facilities. The Cottages facilities provide home-like and individualized care.

1. The Cottages
Assisted Living and Memory Care facilities operator
in Idaho, Texas, MO and IL
General presentation

2. The Cottages llc
Assisted Living and
Memory Care at its Best!
o
The Cottages is a developer, acquirer and operator of Assisted Living and Memory
Care senior housing and care facilities in Idaho, Texas, Missouri and Illinois.
o
We are a 15 year leader in the industry, with 17 existing properties and over 40 years
of experience. We have 180 beds in Idaho, 32 beds in Texas,
30 beds in Missouri and 60 beds in Illinois.
o
The Cottages business is clearly differentiated – campus style, home-like and private
pay. Our facilities offer competitive advantages and focus on suburban, exurban and
rural areas.
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We have consistently provided a positive yield on combined real estate and senior
care facility operations.
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10+ year performance, regular paid dividends and positive fundamentals
o
Proven operational expertise, team and existing regional management
thecottages.biz - ID facilities
newhavenassistedliving.com – TX facilities
Justin Yarmark - 801-694-1967 – justin@thecottages.biz

3. Management Bios for The Cottages
Garold Maxfield. Mr. Maxfield is the CEO for all assisted living and memory care operations in Idaho and Texas. He
has 20+ years of experience in the assisted living business as a developer and operator, particularly in financial
management, construction management and company oversight. He has successfully developed and is now
operating 13 properties in the Boise, Idaho region and 5+ new properties. Similar projects are in various stages of
development and construction in the San Antonio and Austin region of Texas, as well as other states.
Mark Maxfield. Mr. Maxfield is the President and COO for all of the Idaho operations. He has been in the assisted
living business for 11 years. Mark has had experience in managing similar operations for a variety of different
segment of population. His expertise is in team building, human asset management and companywide oversight.
He is currently on the executive board for the Idaho Health Care Association where he has served for 8 years, and a
5 year member of the Community Care Advisory Council.
Justin Yarmark. Mr. Yarmark is Chief Strategy Officer (CSO) and a managing partner. He is a passionate health-tech
entrepreneur and is engaged in the expansion and acquisition of the Cottages’ ALF and MCF properties. Justin
currently focuses on growth, technology and business development. Justin spends time in Idaho, Northern
California and Texas.
Richard Nicholls. Mr. Nicholls has been involved with the development & ownership of similar projects in multiple
states for the last 15 years. He has also served as a consultant & regional director for similar developments. He is
the President for the San Antonio / Austin region of Texas projects, and resides in that area.
Jocelyn Hughes. Ms. Hughes, CPA has been the CFO for all of the Idaho operations for the last 3 years. She has a
strong background of public accounting dealing with a wide range of clientele in multiple industries.
Staci Wright. Ms. Wright, CPA has been the CFO for the Texas developments for the past 2 years. Prior to that
position she was the CFO for 6 years for the Idaho operations.
Jolynn Hunt. Mrs. Hunt is the CMO for all of the Idaho operations. She has spent her entire career has been in
sales & marketing. She is experienced in offline and online marketing, branding and community outreach. Jolynn
previously owned and managed a PR and Marketing Firm in Boise, ID.
Ken Sangha. Mr. Sangha is the Vice President of Darsons Group. He owns and manages a diversified portfolio of
businesses including Hospitality, Health Care, Assisted Living facilities in Idaho, California and Missouri. Currently
he is focused in identifying and acquiring business opportunities backed by discounted real estate to be converted
into viable Assisted Living projects.

4. OPERATOR RESUME
Garold Maxfield, CEO
Garold has been happily married for 46 years and is the proud father of 7 children and 24 grandchildren.
He is actively involved in his church and has served in several leadership positions. He enjoys running,
playing basket ball, riding ATVs and he is an avid Broncos fan!
Garold is the owner, founder and operator of 13 projects at The Cottages Assisted Living in Idaho; 4
projects at New Haven Assisted Living in Texas; 2 projects at TrueCare Assisted Living in Illinois and
Missouri – and a few other companies not related directly to the senior industry.
He is engaged in creating growth and expansion into new assisted living markets across the United
States. While he leaves immediate supervision in the very capable hands of the Executives, they still
report directly to Garold so he has oversight over all departments of the company. It is his vision and
unique company culture that guide the Executives, Administrators and all staff in making The Cottages
the best home for residents and the best company for employees to work for!
Prior Work
Company President for BeeHive Development, an Assisted Living company headquartered in Idaho with
diverse operations in many states from 1994 to 2001.
Company President for a residential and commercial building supply company from 1989 to 1994.
Corporate Controller from 1979 to 1989. Executive position for mid-size food processing plant with 500
employees. Reported directly to Board of Directors. Responsible for all financial activities and reporting
for very profitable operations.
Plant Controller from 1975 to 1979 for manufacturing company.
Accounting staff for manufacturing company from 1967 to 1969. Cost accountant for the same
company from 1969 to 1971. Plant Controller for the same company from 1971 to 1975.
Education: BA in Business Administration and Accounting from Boise State University in 1974.

5. The Cottages llc
Assisted Living and Memory Care at its Best!
Acquisition vs New Construction
New Construction
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Known building and operating model – 16 bed, multi-building campuses
Competitive advantage – new, updated features, unique floor plan
Expensive and slower – new construction costs $125k per bed and takes an 8-10
month build out and before opening for clients
Ability to leverage raw land assets
Acquisition:
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Discount prices on distressed properties – makes for a low breakeven point
and pricing power to capture the market
Fast-turnaround on transaction, remodel and opening
Bigger facilities, more beds, need more market share and may need to
expand services or take some portion of medicaid if insufficient demand.

6. The Cottages llc
Assisted Living and Memory Care at its Best!
Regional Portfolio
The Cottages AL/MC facility locations – mixture of new construction and acquisitions.
o Idaho
o Texas
o Missouri
o Oklahoma
o Illinois
o Ohio

7. The Cottages llc
Assisted Living and Memory Care at its Best!
Current Property Name/Address
Cottages Inv. III - Boise I
6300 N. Roe St. Boise ID 83714
Cottages Inv. III - Boise 2
6300 N. Roe St. Boise ID 83714
Cottages Inv. III - McCall
700 N. Reedy Ln. McCall, ID 83668
Cottages Inv. III - Nampa
5023 Victory Rd. Nampa, ID 83687
Cottages Inv. II - Emmett 1
411 E. 12th St. Emmett, ID 83617
Cottages Inv. II - Emmett 2
411 E. 12th St. Emmett, ID 83617
Cottages Inv. II - Payette
1481 7th Ave. N. Payette, ID 83661
Cottages Inv. II - Weiser 1
1225 E. 6th St. Weiser, ID 83672
Cottages Inv. II - Weiser 2
1225 E. 6th St. Weiser, ID 83672
Cottages Inv. II - Meridian 1
3199 W. Belltower Dr. Meridian, ID 83646
Cottages Inv. II - Meridian 2
3199 W. Belltower Dr. Meridian, ID 83646
Cottages Inv. II - Middleton
760 W. Main St. Middleton, ID 83644
Cottages Inv. II - Mt. Home
735 S. 5th W. St, Mt. Home, ID 83647
Cottages Executive Offices
1079 Ancona Ave. Eagle, ID 83616
New Haven - Cibolo TX
2300 FM 3009, Schertz, TX 78154
New Haven - Kyle TX
107 Creekside Trail, Kyle, TX 78640
Development and Pipeline Ventures
Texas
Missouri
Kyle
Floresville
Bastrop
Waco
Beeville
Killeen
Copperas Cove
Ennis
Pasadena
Crowley
Wylie
Taylor
Alvin, TX
Garland
Shell Knob
Jefferson City
Idaho
Payette
Middleton
Homedale
Meridian--Falcon
Sun Valley (Hailey)
Twin Falls
Nampa
Illinois
Astoria
North Dakota
North Forks
Minot
Ohio
Massillon
Oklahoma
Bethany
Arizona
Surprise
Florence
Coolidge
Peoria
Wisconsin
Manitowoc

8. The Cottages llc
Assisted Living and Memory Care at its Best!
Summary
Observations
We are focused on expansion in Texas and are interested in working with local
stakeholders, raw land owners and cash investors. We are looking for growth from new
construction and acquisitions.
Key metrics for new acquisitions – target market and the cost per bed for each facility.
New construction averages $125,000 per new patient bed, but we can charge a premium
on rates and be differentiated in the market with a campus-style home-like environment.
Census, payroll and resident rates drives the overall performance at each facility.
Acquisitions and new construction with exit opportunities after 2-5 years or consistent ROI.

9. The Cottages llc
Assisted Living and Memory Care at its Best!
For more information see:
Justin Yarmark
Chief Strategy Officer
1079 S Ancona Ave, Ste 110
Eagle, ID 83616
Office: 208.258.3512
Cell: 801.694.1967
justin@thecottages.biz
We Treat People Right