FDG Sells 3 Assets
FDG and its joint venture partner, Shelbourne, recently sold 3 assets in New Jersey and Philadelphia to institutional buyers. The Solana Willistown, PA and The Solana Roseland, NY sold in 1 transaction. For information please click here.
The Solana Horsham, PA sold to a different buyer in a separate transaction. For information please click here.
The Solana West County (Ballwin, Missouri) won a silver award from the National Association of Home Builders’ 2014 50+ Housing Awards in the Assisted Living/Special Needs Community category. This building has been very well-received by residents and families for both its attractive design and its great service. Credit goes to our interior designer, Faulkner Design Group, of Dallas, Texas, as well as to our architect, PRDG, also of Dallas.
FDG and its partner Shelbourne opened The Solana Marlboro, New Jersey. This 2-story, 79-unit assisted living and memory care community features inviting amenity spaces and a variety of apartment sizes and styles. The community is operated by Chelsea Senior Living. The building was designed by PRDG Architects with interior design by Faulkner Design Group. The contractor was Wohlsen Construction.
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Formation Development Group Celebrates 10 Years as Part of the Formation Capital Family, 2007-2017
Formation Development Group celebrated its 10th anniversary on January 1, 2017. The company was formed in 2007 as a venture between its investors and the principals of FDG: Mark Spiegel, Jay Robinson and Mark Maberry. The principals have been together 19 years with two previous successful ventures before joining the Formation Capital family: EdenCare Senior Living Services and Argos Realty Partners.
FDG and its partner Shelbourne opened The Solana Deer Park, in a suburb of Chicago. This 4-story, 180-unit independent living, assisted living and memory care community features multiple dining venues, an indoor pool, a rooftop amenity deck and a variety of apartment sizes and styles. The community is operated by Atria Senior Living.
FDG Sells High Rise Senior Living Community in Atlanta
FDG and its joint venture partner, a major US private equity fund, announce the sale of Renaissance on Peachtree, their 229-unit high rise senior living asset in the Buckhead section of Atlanta. The buyer was American Realty Capital Healthcare Trust II, LLC (“ARC”). The Arbor Company will continue to operate the community on behalf of the new owner.
For information please click here.
FDG and its partner, Senior Lifestyle Corporation, broke ground on The Sheridan at Cooper City, a new assisted living and memory care community in Broward County, Florida. The Sheridan will feature 111 units. The community will be operated by Senior Lifestyle.
Please read an article from the Fort Lauderdale Sun Sentinel here.
Formation Development Group has opened The Solana Preserve Vintage Park, a 117-unit full-service independent living community in Houston, Texas. The project is an expansion of an existing 87 unit assisted living and memory care community nearby, The Solana Vintage Park. Brookdale is the operator of both assets.
The Solana Preserve is a 4-story building featuring a variety of amenity spaces including a restaurant, café, club room, theater, fitness center, salon, physical therapy center, and salt water pool. Apartments are a mix of one bedroom, one bedroom den and two bedroom, some with private garages.
The project is located in Vintage Park, a large open-air lifestyle center at Louetta Road and Highway 249 in northwest Houston. Residents have easy walking access to HEB Central Market grocery store, Alamo Drafthouse Cinema, and a variety of restaurants and retailers. The assisted living and memory care is located 3 blocks away on the other side of the lifestyle center. Other neighbors include St. Luke’s Hospital, Healthsouth Rehabilitation Hospital, and Lone Star College.
The Solana Preserve was designed by PRDG Architects of Dallas, with interior design by StudioSIX5 of Austin. The general contractor was Spring Valley Construction. Construction financing was provided by Texas Capital Bank.