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Formation Development Group - Company and Project Overview - March 2015
1. An Affiliate of
SENIOR LIVING DEVELOPMENT l ACQUISITIONS l INVESTMENT l ADVISORY SERVICES
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.
4. 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
5. 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.
jrobinson@formationdevelopment.com
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.
mmaberry@formationdevelopment.com
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.
mspiegel@formationdevelopment.com
Mark Maberry, Mark Spiegel, Jay Robinson
6. For information please contact Mark Spiegel, President
at (770) 777-9898 or mspiegel@formationdevelopment.com
Formation Development Group, LLC
3820 Mansell Road, Suite 275
Alpharetta, Georgia 30022
(770) 777-9898
Fax (678) 317-2200
www.formationdevelopment.com
10. 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)
11. The Solana at Cinco Ranch
The Solana West County The Solana Willistown
