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Formation Development Group - Company and Project Overview - March 2015


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Formation Development Group - Company and Project Overview - March 2015

  2. 2. Formation Development Group provides comprehensive acquisition and development services for a variety of senior living communities across the United States, including:  Senior Apartments  Independent living  Assisted Living  Alzheimer’s care  Skilled nursing  Retirement campuses The company works with experienced, third-party senior living operators through joint ventures, leaseback arrangements and/or fee management contracts. Formation Development Group is known for its distinctive and attractive buildings, its prime sites and its comprehensive services. The team is well recognized for its ability to deliver high-quality communities in highly desirable locations in strategic markets. Through creative design and rigorous value engineering, the Formation Development Group team delivers its highly marketable senior living product for a lower development cost than comparable competitors. Formation Development Group also implements comprehensive programs to execute the development strategies of experienced operators, landowners and investors --- combining the investment capital and development expertise of Formation Development Group with the operational resources of its senior living management partners. Whether working for its own account or on behalf of fee development clients, the company exhibits a strong focus on real estate fundamentals, senior living expertise and customer service. Formation Development Group’s services include all aspects of senior living acquisition, development and investment, from site selection through construction oversight. Formation Development Group maintains an active pipeline of senior living projects in operation, under construction and under development – for clients, for its own account and in ventures with other firms. The firm is half owned by Formation Capital investors and half by the founders: Mark Spiegel, Jay Robinson and Mark Maberry. A senior living company that combines the investment capabilities and capital resources of Formation Capital with the development expertise and senior living operations experience of the former principals of EdenCare Senior Living Services and Argos Realty Partners.
  3. 3. EXPERTISE The principals of Formation Development Group, Mark Spiegel, Jay Robinson and Mark Maberry, have extensive experience in the development, construction, acquisition, disposition, repositioning, operation, marketing, financing and asset management of a variety of senior living communities with an aggregate value of over $1 billion. Senior living development, acquisition and investment services provided by Formation Development Group include: Market research & feasibility  Demographic reviews and projections  Competitive analyses Site selection  Site identification & sourcing  Negotiations  Contracting Site investigations & due diligence  Environmental studies  Legal & title investigations  Engineering & feasibility studies Project finance  Pro forma analysis & budgeting  Securing capital: equity, debt and mezzanine  Loan restructuring/workouts  Asset management Zoning approvals & other entitlements  Local approvals  Regional & state approvals  Federal approvals  Certificates of Need Project Management  Oversight of 3rd party consultants  Scheduling and tracking Architectural design & civil engineering  Site planning  Project programming  Schematic design  Construction documents  Value engineering Interior design & furnishings  Design  Procurement  Installation Owner construction representation  Bidding and negotiating  Permitting  Contract administration  Site visits Start-up Operations  Marketing office set-up  Hiring & training  Procurement of equipment & supplies Asset Management  Sales & marketing  Budgeting & financial monitoring  Facilities management Product Development & Programming  Strategic positioning  Repositioning & reprogramming  Expansions & renovations  Exit strategies & dispositions
  4. 4. PRINCIPALS James C. Robinson Executive Vice President Jay was an Executive Vice President with Argos Realty Partners and was formerly Vice President of Development with EdenCare Senior Living Services, with oversight of development, construction and facilities management. He has also held positions with Medcath, Inc, a developer and operator of specialty heart hospitals, and with Henningson, Durham & Richardson (HDR) in Dallas, a national planning and architecture firm. Jay is a graduate of Texas Tech. Mark P. Maberry Executive Vice President Mark was an Executive Vice President with Argos Realty Partners and was previously an Executive Vice President with EdenCare Senior Living Services, where he headed up real estate development as well as corporate sales & marketing. He previously held positions as Vice President of Development with Sunrise Senior Living in McLean, Virginia, and with Deerfield Healthcare Corporation in Baltimore, a developer and operator of adult day care centers. He is a graduate of Virginia Tech. Mark T. Spiegel President Mark was the President of Argos Realty Partners, a senior living fee development consulting company, from 2004 – 2007. Previously, Mark was one of the co- founders of EdenCare Senior Living Services and served as its Chief Executive Officer and Chief Investment Officer. He has also held positions with Trammell Crow Realty Advisors in Dallas, the advisory arm of the Trammell Crow Company, and with Greystar Capital partners in Houston (now based in Charleston, SC), an investor, operator and developer of apartments and other real estate. Mark graduated from Harvard University. Mark Maberry, Mark Spiegel, Jay Robinson
  5. 5. For information please contact Mark Spiegel, President at (770) 777-9898 or Formation Development Group, LLC 3820 Mansell Road, Suite 275 Alpharetta, Georgia 30022 (770) 777-9898 Fax (678) 317-2200
  6. 6. Projects
  7. 7. Current Projects Formation Development Group Projects IL AL MC Total Project Market Status Opening Units Units Units Units 1 Renaissance on Peachtree Atlanta Open Acquired March 2012. Renovated. 165 63 228 2 The Solana Vintage Park II (Expansion) Houston Under construction To Open Early 2016 117 117 3 The Sheridan at Cooper City Ft Lauderdale Under construction To Open Summer 2016 72 39 111 Total 282 135 39 456 Project 1 is managed by Arbor. Project 2 is managed by Brookdale. Project 3 is managed by Senior Lifestyle. 62% 30% 9% Formation Shelbourne Senior Living Projects IL AL MC Total Project Market Status Opening Units Units Units Units 4 The Solana Olney, MD Washington, DC Open Opened November 2012 49 30 79 5 The Solana Germantown, TN Memphis Open Opened February 2013 130 33 19 182 6 The Solana Horsham, PA Philadelphia Open Opened March 2013 49 27 76 7 The Solana Roseland, NJ New York Open Opened July 2013 59 26 85 8 The Solana Willistown, PA Philadelphia Open Opened October 2013 59 27 86 9 The Solana Doylestown, PA Philadelphia Open Opened November 2014 70 28 98 10 The Solana Marlboro, NJ New York Under construction To Open Summer 2015 55 24 79 11 The Solana Deer Park, IL Chicago Under construction To Open Early 2016 96 60 24 180 Total 226 434 205 865 26% 50% 24% Combined Total IL AL MC Total Units Units Units Units 508 569 244 1,321 38% 43% 18% Projects 4, 5 and 7 are managed by Brookdale. Project 6 is managed by Arbor. Projects 8, 9, and 11 are managed by Atria. Project 10 is managed by Chelsea. Other project photos included: The Solana at Cinco Ranch (Katy, Texas), The Solana West County (Ballwin, Missouri), The Solana Vintage Park (Houston, Texas)
  8. 8. The Solana at Cinco Ranch The Solana West County The Solana Willistown
  9. 9. The Solana Germantown The Solana West County The Solana Doylestown The Solana Olney
  10. 10. The Solana West County The Solana Roseland The Solana Vintage Park Renaissance on Peachtree
  11. 11. Living Room The Solana at Cinco Ranch Gallery Dining Room Restaurant Wine Bar & Library
  12. 12. The Solana at Cinco Ranch Gallery Club Room and Sports Bar Pool Courtyard Bocce Court & Putting Green
  13. 13. Lobby and Café Renaissance on Peachtree Restaurant Bar and Lounge Library Lobby
  14. 14. Renaissance on Peachtree Activity Room Salon and Spa Exercise Room
  15. 15. The Solana West County Theater Lobby Courtyard Courtyard
  16. 16. Restaurant The Solana West County Seating Area Memory Care “Keeping Room” Memory Care Kitchen and DiningCafé
  17. 17. The Solana Doylestown Lobby Library Conservatory Living Room
  18. 18. The Solana Doylestown Sports Bar Theater
  19. 19. The Solana Doylestown Restaurant Restaurant Restaurant Memory Care Dining Room Cafe
  20. 20. The Solana Germantown
  21. 21. Library/Business Center Main Lobby The Solana Germantown Main Lobby Library
  22. 22. Wine Bar Sports Bar/Club Room Café/All-Day Dining Theater/Multi-Purpose Room The Solana Germantown
  23. 23. Restaurants The Solana Germantown
  24. 24. Indoor Salt Water Pool Fitness Center Physical Therapy/Rehab Gym The Solana Germantown Salon and Spa
  25. 25. The Solana Germantown Courtyard
  26. 26. The Solana Vintage Park
  27. 27. Living Room Café Main Lobby Library The Solana Vintage Park
  28. 28. Restaurant The Solana Vintage Park Grand Staircase Living Room Private Dining
  29. 29. Salon Spa Assisted Living Apartment The Solana Vintage Park
  30. 30. The Solana Roseland
  31. 31. Reception Main Lobby Living Room The Solana Roseland Grand Stair
  32. 32. Dining Room Dining Room Library Café Salon The Solana Roseland
  33. 33. Main Lobby Café The Solana Willistown Fire Pit
  34. 34. Theater Living Room Art Studio The Solana Willistown
  35. 35. The Solana OlneyLobby Café
  36. 36. The Solana Marlboro Marlboro, New Jersey Under Construction – Opening Spring 2015
  37. 37. The Solana Deer Park Deer Park. Illinois Under Construction – Opening Early 2016
  38. 38. The Solana Vintage Park (II) Houston, Texas Under Construction – Opening Early 2016
  39. 39. The Sheridan at Cooper City Cooper City, Florida Under Construction – Opening Summer 2016