Formation Development Group © 2014
Formation Development Group Celebrates 10 Years as Part of the Formation Capital Family, 2007-2017
Formation Development Group is actively searching for high quality senior living development sites in major markets throughout the United States. We prefer established suburban or inner-suburban locations with impressive demographics. We are not pursuing investments in smaller markets, small towns, rural locations or resort areas. We are also pursuing the acquisition of existing senior living communities. We will consider the purchase of independent living, assisted living and Alzheimer's care communities. FDG has had success stepping into projects that are underway where the developer has run into financial or operational challenges. Our experience in development, finance, marketing and operations makes us well-suited to bring value to struggling projects.
We appreciate your assistance in making us aware of quality development, acquisition and joint venture opportunities.
FDG develops two main project types:
Freestanding Assisted Living and Memory Care
Project size of 80 - 100 units
Building size of 65,000 - 85,000 SF
2 - 4 stories
Land area of 3 - 4 acres usable (larger sites will be considered)
Independent Living, Assisted Living and Memory Care Campus
Project size of 150 - 200 units
Building size of 170,000 - 250,000 SF
3 - 4 stories (may go higher in certain areas)
Typically a single building with separate entrances
Land area of 6 - 8 acres
(Larger sites will be considered and smaller sites may work if higher density is allowed and/or if structured parking is feasible.)
FDG will consider the acquisition of other types of senior living projects that do not fit neatly within the above categories.
Senior Living Site Criteria
The typical senior living decision-maker is a well-educated, middle- to upper middle-income "adult child" (age 45 - 64) who is making or strongly influencing a decision on behalf of an elderly parent. The residents themselves will often move to the project from outside of the market area to be closer to their grown children. The adult child demographics are key to our site selection, but potential markets must also contain sufficient numbers of income-qualified seniors (age 75+).
Sites must appeal to the adult child as well as to the senior. Sites must be conveniently located near quality retail, office, dining, entertainment, schools, synagogues and churches. Sites need to be located in an area with significant amounts of executive housing.
Sites must be prominently located with good visibility in an area with quality neighboring uses. Sites must be in desirable areas with no adjoining negative uses (including truck yards, auto body shops, adult entertainment, funeral homes or cemeteries).
Contrary to what some may think, we are not interested in quiet or secluded sites. Our residents and their family members like sites that are "close to the action." Additionally, good site visibility is important to our marketing efforts.
The most important site criterion is the hardest to define: the site must be a place you would want your own mother to live (assuming you love your mother).
Site or Project Information
The following information is required for FDG to begin its review of any sites that may meet the above requirements:
Address (or closest cross streets)
Zoning (including mention of any unusual restrictions such as setbacks, height, etc)
Topographic survey or a description of the site (flat, hilly, etc)
Availability of utilities
Description of neighboring uses
Photos (limit to 2 or 3 photos; a recent aerial photo is very helpful)
For acquisitions, please also include current financial statements and a rent roll
We do not need demographic information since we run our own analyses.
Information may be sent via email or regular mail. Email is preferred. Please let us know if you are the owner, broker or other party. We will execute confidentiality and non-disclosure agreements as required.
Please submit info to:
Formation Development Group, LLC
178 South Main Street, Suite 375
Alpharetta, Georgia 30009
Or use the "Contact Us" form on our website.