A Place Called Home

Paris

A luxury community providing care and accommodations from leisure retirement to full nursing assistance.

Investor Presentation 2026

The Investment Thesis

NIC (National Investment Center for Seniors Housing & Care) data reflects senior housing occupancy recovering toward pre-pandemic highs while new supply pipelines remain constrained — creating a rare development window at below-replacement-cost land pricing. Central California is structurally undersupplied at the Class A end of the continuum.

A Place Called Home delivers a purpose-built, RCFE-licensed campus offering the full continuum of care — pairing best-in-class resident outcomes with a proven operator-driven model targeting 40–50% EBITDAR margins at stabilization.

11,200+
Americans turning 65 daily through 2030 (U.S. Census)
$475B
U.S. senior housing market (NIC 2024)
< 2%
Class A senior supply in Central CA vs. national inventory
Zero
Licensed Class A RCFE operators in the Clovis 93619 submarket

The Opportunity

Why
Clovis, CA

The most affluent zip code in the Central Valley — with a rapidly aging population, high LTC insurance saturation, and zero Class A RCFE-licensed operators in the submarket.

56% of people reaching 65

will need long-term care — and Clovis residents have the wealth and insurance to pay for the best.

Regulatory Moat

California RCFE licensing through CDSS is among the most rigorous in the nation — a meaningful barrier to entry that limits competitive supply once we are operational.

17,200+
Seniors 65+ in Clovis
$138K
Median HH Income (93619)
$579K
Median Home Value (93619)
$410K
Median Senior Net Worth (65–74)
80%
Projected Growth — 85+ Pop. (Central Valley)

LTC Insurance Saturation — Clovis vs. National

National Average (Adults 50+)3–4%
California Average~7%
Clovis 93619 (est. based on $138K median income)22–25%

Sources: AALTCI 2024; Urban Institute; HHS; NIC 2024 Q3. Households earning $100K+ carry LTC insurance at ~5–6× the national rate. Central Valley senior housing occupancy below stabilized 90% threshold, signaling undersupply.

The Site

NE Corner — Temperance Ave & Owens Mountain Pkwy

13.94
Acres
R-T
Zoning
$10M
Asking Price

Hospital Access

Clovis Community Medical Center

The region's premier hospital sits directly across Temperance Ave — immediate specialist and emergency access for every resident.

Highway Access

CA-168 Direct On/Off Ramp

Direct connectivity to northeast Fresno and the greater Central Valley — easy access for families, staff, and visiting physicians.

Growth Corridor

Clovis Research & Technology Park

Surrounded by medical, professional, retail, and restaurant amenities in northeast Clovis's most active development zone.

Clovis Tech Park site aerial map

The APCH Difference

A Better Model

Purpose-built to outperform institutional senior housing on margin, care quality, and occupancy stability — at every stage of the asset lifecycle.

14

Private Beds Per Home

10 identical residential-scale homes — small enough for personal attention, large enough for operational leverage. Staffing ratios and care quality consistently exceed institutional benchmarks.

40–50%

EBITDAR Margin at Stabilization

Shared infrastructure — theater, pharmacy, dining, wellness — amortized across both phases drives margins nearly double the 20–25% industry average for standalone facilities.

3-in-1

Full Continuum of Care, One Campus

Memory care, assisted living, and independent living under one license. Residents age in place — eliminating costly move-outs and sustaining census stability that single-product operators cannot match.

RCFE

California CDSS Licensed — Regulatory Moat

RCFE licensing through CDSS requires years of compliance expertise, staffing credentials, and operational track record. This barrier materially limits new competitive supply — protecting occupancy and pricing power once operational.

Phase 1

Assisted Living Community

Phase 1 Assisted Living Rendering
$56M

Total Development Cost

  • 14 private bedrooms, each with ADA bathroom
  • 2 premium suites with sitting areas & upgraded finishes
  • 7,500 sqft per home — 10 identical homes
  • Residential kitchen and dining room
  • Two living rooms: great room & quiet lounge
  • Library, outdoor patios, and gardens
  • Central clubhouse: recreation, theater, kitchen, pharmacy
Annual Revenue
$18.54M
→
40% NOI
$7.416M/yr
Cap Rate: 6.5%
$114M
Implied Value
Value Creation
$58M

Phase 2

Independent Living Community

Phase 2 Independent Living Rendering
$33M

Total Development Cost

  • 80 luxury apartments
  • 5-story structure, 90,000 sqft
  • Restaurants, fitness center, spa, salon
  • IL leverages AL infrastructure to reduce overhead
Annual Revenue
$6.2M
→
50% NOI
$3.1M/yr
Cap Rate: 6%
$52M
Implied Value
Value Creation
$19M

Management & Operations

A Place Called Home is not a concept — it is a proven operating platform with a decade of RCFE experience behind it. Paris is the flagship expression of a model already validated at scale.

Co-Founder — Operations & Care

David Murchison, RN

Registered Nurse | 10+ years pre-APCH

Oversees all clinical operations, staffing protocols, resident care standards, and CDSS regulatory compliance across all 10 facilities

RN background provides rare clinical credibility that elevates care delivery and directly supports premium pricing — a structural margin advantage

Co-Founder — Finance & Strategy

Colin Murchison

Business Management | 10+ years pre-APCH

Leads capital structure, investor relations, financial modeling, and long-term growth strategy for the APCH platform

Licensed RCFE Administrator — 14 years of direct CDSS compliance, census management, and multi-facility oversight alongside David

Proven Platform — Not a First-Time Developer

14
Years RCFE Ops
10
Facilities
2
Paris Prototypes

Paris is not a concept — it is the scaled expression of a residential-care model already validated at occupancy across two operating prototype facilities. The Murchison brothers bring 24 years of combined domain expertise across nursing, business management, and RCFE operations to every aspect of this project.

Combined Financial Overview

Two synergistic phases delivering a high-margin, recession-resistant revenue stream.

$24.74M
Combined Revenue / yr
$10.52M
Combined NOI / yr
$166M
Combined Implied Value
$89M
Total Development Cost
$77M
Unrealized Value Creation
1.87×
Stabilized Value / Cost Multiple
~14%
Projected Investor IRR (7-yr hold)
2.18×
Projected Investor MOIC (7-yr hold)
9.5%
Preferred Cash Yield (Pre-ROC)

IRR and MOIC projections assume 7-year hold, stabilized NOI, and a sale at the 6% blended cap rate implied by NIC comparable transactions. Projected returns are estimates and are not guaranteed.

Return on Investment

Non-voting participating preferred equity — structured for institutional-quality current income, full Return of Capital, and permanent participation in the APCH national platform. Offered under Reg D Rule 506(c) to Accredited Investors only.

Tranche 1 — Pre-ROC Preferred Distribution

80%
of net operating profit
Operating entity retains 20%
Est. Annual Return
~$8.4M/yr
Yield on Capital
9.5%

Tranche 2 — Post-ROC Waterfall, Years 1–3

50%
of net operating profit
Operating entity retains 50%
Est. Annual Return
~$5.3M/yr
Yield on Capital
5.9%

Tranche 3 — Post-ROC Waterfall, Year 4 Onward

35%
of net operating profit
Operating entity retains 65%
Est. Annual Return
~$3.7M/yr
Yield on Capital
4.1%

Offering Terms

  • Security: Non-voting participating preferred equity units
  • Offering Type: Reg D Rule 506(c) — Accredited Investors Only
  • Unit Price: $250,000 per unit | 356 units total
  • Minimum: 1 unit ($250,000)
  • Distributions: Paid quarterly from net operating income
  • Projected IRR: ~14% on 7-year hold (MOIC: ~2.18×)
  • Documentation: Private Placement Memorandum + Operating Agreement

🌎 National Platform Participation

7%

Permanent profit share in every future A Place Called Home community — nationwide, forever.

No reinvestment required. Your Paris investment makes you a founding partner in the APCH platform. As we expand across the country, your participation travels with us — automatically.

Investor Protections

Your capital is secured by a multi-layered structure with clear protections across both regular operations and any liquidity event.

Preferred Equity Position

Investors hold non-voting participating preferred shares that rank senior to all common equity in any distribution waterfall — both in regular operations and upon any liquidity event. Your interests are protected by structure, not promises.

Operational Profit Priority

During regular operations, 80% of net profits flow to preferred investors until full Return of Capital is achieved. The operating entity receives 20% during this period. Post-ROC, investors receive 50% for the first 3 years, then 35% of ongoing net profits in perpetuity.

Liquidity Event Protection

In any sale, refinance, or dissolution, no distributions may be made to the operating entity or common equity holders until preferred investors have received 100% Return of Capital. Thereafter, investors receive 60% of all remaining proceeds above the capital basis — regardless of when the event occurs.

Permanent Platform Rights

Investors receive an automatic 7% profit share in all future A Place Called Home communities nationwide — no additional investment required. These rights vest upon closing and are entirely separate from this investment's capital basis, Return of Capital, and any liquidity event proceeds. All platform rights are memorialized in the Operating Agreement.

Key Covenant (Liquidity Events — Paris Investment Only): In the event of a sale, refinance, or dissolution of the Paris property, no proceeds shall be distributed to the operating entity, its affiliates, or common equity holders until all preferred investors have received 100% Return of Capital on their Paris investment. Investors then receive 60% of all remaining proceeds above their capital basis, regardless of when the event occurs. This covenant applies solely to the Paris investment and does not extend to future APCH communities, in which investors participate only through their separate 7% profit share — a benefit that is independent of their capital basis, Return of Capital, or any liquidity event associated with this investment. This covenant does not restrict normal operational distributions, which continue at their allocated share throughout the life of the investment. All terms will be memorialized in the Operating Agreement and enforced through independent legal counsel.

Development Timeline

A phased approach that generates cash distributions early, manages regulatory pathway risk through concurrent RCFE licensing, and scales into a fully stabilized campus.

Capital Raise & Site Acquisition
Close Reg D 506(c) offering; secure accredited investor commitments; execute purchase agreement on 13.94-acre Clovis Tech Park site
Entitlements & RCFE Pre-Licensing
Obtain land use entitlements and building permits; initiate CDSS pre-licensing process for RCFE certification concurrent with construction
Phase 1 Construction
Construct 10 residential homes, central clubhouse, and shared amenity infrastructure; target Certificate of Occupancy for CDSS inspection
RCFE License Issued — Phase 1 Operations
Receive California RCFE license; begin resident admissions; ramp to stabilized occupancy; generate $18.5M+ annual revenue
Phase 2 Build & Full Campus
Construct 80-unit independent living tower leveraging existing infrastructure; full continuum of care at $24.7M+ combined annual revenue

The Investment

Reg D Rule 506(c) private placement — accredited investors only. 356 preferred equity units at $250,000 per unit.

$56M
Phase 1 — Assisted Living
$33M
Phase 2 — Independent Living
$89M
Total Capital Required
9.5%
Preferred Cash Yield (Pre-ROC)
~14%
Projected Investor IRR (7-yr hold)
2.18×
Projected Investor MOIC (7-yr hold)
$166M
Stabilized Portfolio Value (6% cap rate)

This offering is made exclusively to Accredited Investors as defined under SEC Rule 501(a). A Private Placement Memorandum and Operating Agreement will be provided to qualified investors upon request. Projected returns are estimates; past performance is not indicative of future results.

APCH Crest

Let's Build Together

Join us in creating a new standard for luxury senior living — where residents thrive and investors prosper.

Get in Touch

colin@apchcare.com

A Place Called Home – Paris

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