Formation Development Group - Company and Project Overview - March 2015

An Affiliate of

SENIOR LIVING DEVELOPMENT l ACQUISITIONS l INVESTMENT l ADVISORY SERVICES

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.

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

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.

[email protected]

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.

[email protected]

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.

[email protected]

Mark Maberry, Mark Spiegel, Jay Robinson

For information please contact Mark Spiegel, President

at (770) 777-9898 or [email protected]

Formation Development Group, LLC

3820 Mansell Road, Suite 275

Alpharetta, Georgia 30022

(770) 777-9898

Fax (678) 317-2200

www.formationdevelopment.com

Projects

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)

The Solana at Cinco Ranch

The Solana West County The Solana Willistown

The Solana Germantown

The Solana West County

The Solana Doylestown

The Solana Olney


The Solana Roseland

The Solana Vintage Park

Renaissance on Peachtree

Living Room


Gallery

Dining Room

RestaurantWine Bar & Library


Gallery

Club Room and Sports Bar

Pool Courtyard

Bocce Court & Putting Green

Lobby and Café


RestaurantBar and Lounge

LibraryLobby


Activity Room

Salon and Spa

Exercise Room


Theater

Lobby

Courtyard

Courtyard

Restaurant


Seating Area

Memory Care “Keeping Room”

Memory Care Kitchen and DiningCafé


Lobby

Library

Conservatory

Living Room


Sports Bar

Theater


Restaurant

Restaurant

Restaurant Memory Care Dining Room

Cafe

Library/Business Center

Main Lobby


Main Lobby

Library

Wine Bar

Sports Bar/Club RoomCafé/All-Day Dining

Theater/Multi-Purpose Room


Restaurants


Indoor Salt Water Pool

Fitness Center

Physical Therapy/Rehab Gym


Salon and Spa


Courtyard

Living RoomCafé

Main Lobby

Library


Restaurant


Grand Staircase

Living Room

Private Dining

Salon Spa

Assisted Living Apartment


The Solana Roseland

Reception

Main LobbyLiving Room

The Solana Roseland

Grand Stair

Dining RoomDining Room

Library

Café

Salon

The Solana Roseland

Main Lobby

Café

The Solana Willistown

Fire Pit

Theater Living Room

Art StudioThe Solana Willistown

The Solana OlneyLobby

Café

The Solana MarlboroMarlboro, New Jersey

Under Construction – Opening Spring 2015

The Solana Deer ParkDeer Park. Illinois

Under Construction – Opening Early 2016

The Solana Vintage Park (II)Houston, Texas

Under Construction – Opening Early 2016

The Sheridan at Cooper CityCooper City, Florida

Under Construction – Opening Summer 2016

Formation Development Group - Company and Project Overview - March 2015

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Transcript of Formation Development Group - Company and Project Overview - March 2015