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Formation Development Group 
is a senior living development and investment company
that combines the
investment capabilities and capital resources of
Formation Capital
with the development expertise and senior living experience
of the former principals of
Argos Realty Partners
and
EdenCare Senior Living Services
Formation Development Group develops and invests in a
variety of senior living communities across the United States, including:
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 innovative services. The team is well recognized for the ability to deliver high-quality communities in highly visible locations in strategic markets. Through creative design and rigorous value engineering, the Formation Development Group team delivers its highly desirable 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.
Services include all aspects of senior living development and investment, from site selection through construction management, as well as securing debt financing and providing portfolio asset management of the completed projects. For more information on our services, please visit the "Our Services" page of this web site.
Formation Development Group was founded by the owners of Argos Realty Partners, who are, in turn, former executives with EdenCare Senior Living Services of Alpharetta (Atlanta), Georgia:
Mark Spiegel, President (right)
Jay Robinson, Executive Vice President (left)
Mark Maberry, Executive Vice President (center)
EdenCare was one of the most highly-regarded senior living companies in the US. The company was co-founded by Mark Spiegel in 1996 with the financial sponsorship and investment of (Trammell) Crow Holdings, Inc. and JMI/Greystar (a venture between JMI Realty and Greystar Capital Partners). EdenCare grew via acquisitions and new development to own and/or operate 38 independent living, assisted living and Alzheimer's care communities across seven states and earned a reputation as one of the premier regional providers of senior living services. The company had approximately 1,500 employees and was recognized three consecutive years as one of Atlanta's 50 fastest growing private companies.
EdenCare ultimately sold nearly all of its owned portfolio to affiliates of CNL Retirement Properties, Inc. of Orlando, a real estate investment trust which was aligned with Sunrise Senior Living to manage the EdenCare portfolio as part of the transaction. CNL Retirement was subsequently acquired by Health Care Property Investors (HCPI).
 The principals of Formation Development Group control the intellectual property of EdenCare, including: building designs & specifications; operating manuals; training materials; sales & marketing practices; and operational policies & procedures. These materials can help clients and partners gain a significant competitive advantage by avoiding the need for lengthy and costly product development and documentation.
Argos Realty Partners was a fee development consulting company from 2004 to 2007. During this time, Argos primarily provided development fee services to Sunrise Development, Inc., the development subsidiary of Sunrise Senior Living.
Formation Development Group continued the successful working relationship between its affiliate, Argos Realty Partners, and Sunrise Development, Inc. From 2004 – 2008, Formation (formerly Argos) assisted Sunrise with the development of new senior living communities in select markets in the Southeast and Texas. Formation provided assistance with feasibility studies, zoning, entitlements, programming, design, and pre-construction services. This outsourcing relationship allowed Sunrise to tap Formation's capabilities in development to bring its senior living expertise and services to new markets. Formation was involved with 21 Sunrise projects representing over 2,000 units in multiple states. The projects included a wide range of senior living product types, from stand-alone assisted living and Alzheimer’s care communities, to independent and assisted living campuses, and high-rise, luxury senior condominiums.
Formation Development Group was formed to combine the investment capabilities of Formation Capital with the development expertise of the former principals of Argos Realty Partners and EdenCare Senior Living Services to develop and own senior living communities. In addition to its principal activities, Formation Development also has provided fee development services to major senior living clients such as Sunrise Senior Living and Emeritus Corp. Formation Capital is one of the leading equity investment and asset management companies in the senior housing and healthcare industry. Over the past 5 years, Formation Capital has invested over $3 billion in senior housing transactions and has successfully developed a strategy of "alignment of interests" with both capital and operational partners in a unique and dynamic approach to investing. www.formationcapital.com
For general inquiries, please visit the "Contact Us" page of this site.
For information on development opportunities, or to present a potential site, please visit our "Submit a Site" page or contact:
Mark Spiegel, President
Formation Development Group, LLC
1075-A Powers Place
Alpharetta, Georgia 30009
(Our zip changed from 30004 to 30009 as of 7/1/08)
(770) 777-9898
(678) 317-2200 Fax
mspiegel@formationdev.com
Thank you for your interest in Formation Development Group!
Pictured at right: EdenBrook of Charleston, SC
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