Advisor | Developer | Operator
Flatiron Development Group (FDG) is a seasoned team of trusted senior housing professionals with an "operator-owner" mentality providing real estate services including project development, asset management, operational programming, CapEx implementation as well as financial underwriting. The principals of FDG have managed over a billion dollars of senior housing development. FDG also specializes in servicing clients with distressed portfolios. Discover how FDG can partner with you to address your senior housing real estate expansion needs.
FEATURED DEVELOPMENT PROJECTS
Advisor | Developer | Operator
ANTHEM MEMORY CARE PORTFOLIO
Development and Acquisition value in excess of $175M
Managed All Acquisition & Development Phases
Multistate Jurisdictional Coordination: California, Colorado, Illinois, Kansas
Research of Over 1,000 Submarkets Throughout the Western United States
ALMOND HEIGHTS ASSISTED LIVING AND MEMORY CARE
Spearheaded Acquisition, Development & Design on 128 unit AL/ MC Community on 1.8 Acres, Urban Development
Effectively Navigated Challenging California Permitting Process
100% Lease-Up in 9 Months (15 Months Ahead of Pro Forma)
Exceeding Pro Forma Revenue by + $150 Per Unit, Per Month
ROOD INVESTMENTS PORTFOLIO
• 72-Unit Addition to The Quarry, Vancouver, WA
• 24-Unit Addition, Kitchen Renovation and Sky Gym to The Glenwood, Vancouver, WA
• Re-positioned The Flagstone Senior Living to Achieve 100% Occupancy
• Directed Rehabilitation and Renovation Efforts for the 12-Property Portfolio (OR, WA, CA)
SILVERADO THOUSAND OAKS
Financial Partner: Welltower REIT
Operator: Silverado Senior Living
Expected Completion: October 2020
• Flatiron's principals identified this off-market property, negotiated the purchase, received unanimous City Council approval for our entitlement for a Senior Housing Community and are the lead Development Partners and Owners Representative during construction.
• The new Community will serve as a home for 82 Memory Impaired Residents in 20 Private and 31 Semi-private units.
• The Community is two stories high and 37,019 total square feet on a 2.08 Acre hillside site. The overall site development and construction costs are $12.5 Million.
Discovery. Development. Delivery.
Identify target markets, site selection, negotiate purchase and sale agreement, create project budget, conduct internal and external market analysis.
Lead due diligence and feasibility process, manage development approvals, site studies, building design and engineering, bidding process, general contractor selection, construction management, project accounting.
Obtain Certificate of Occupancy, coordinate project close out and as-built drawings, report regularly with project ownership.
Site Selection and Analysis
Financial Analysis and Underwriting
Entitlement and Permitting
Project Design and Budgeting
Development and Construction Management
ABOUT THE TEAM
Isaac Scott has been the Development Principal with Anthem Memory Care since 2007. Over the past 10 years, Mr. Scott has developed and/or acquired over $200M in real estate including stand-alone memory care, assisted living, independent living additions and senior living renovations in Oregon, Washington, California, Colorado, Kansas, and Illinois. Isaac earned a BA from the University of Oregon and a master's certificate in real estate development from Portland State University.
Paul has developed senior housing projects valued at over $600 million. He has acquired and developed over 3500 residential beds in over 35 assisted living, memory care and skilled nursing properties. He currently has several communities under development throughout the United States. Paul’s development efforts led to one of the industry’s 1st RIDEA partnerships in 2011 resulting in a $298M joint venture. In 2018, Paul's team supported the establishment of a $45M private equity partnership. Paul led the newly formed real estate subsidiary sourcing several new opportunities for the partnership's investment. Paul’s experience covers complex “turnaround” transactions, ground-up development, stabilized core assets and JV partnerships with development and financial firms. His success can be attributed to his ability to identify, build and manage relationships with seniors housing operators, health systems, real estate developers and financial institutions that contribute to the growth of our health care real estate portfolio. Paul received his B.A. in Political Science from UC Santa Barbara and his MBA focused on Real Estate Finance from the USC Marshall School of Business, where he was the President of his Class. Paul is an active member of several not for profit and community service organizations including ARGENTUM’s Workforce Development Committee, National Investment Center for Senior Housing Future Leaders Council and University of Wisconsin CHAASE Board.
Director of Analytics
Liem manages all market research related functions, including real estate/site selection analysis and project feasibility. Liem identifies and evaluates markets and sites for new developments and potential acquisition opportunities, manages the budget model, pro forma and oversees project life cycle from site identification to construction. Liem possesses 20 years experiences in project management, construction cost management, financial/data analysis, and real estate; and held multiple roles in commercial building, heavy civil, heavy industrial construction projects and corporate operations. Liem received his B.A. in Architecture, with a concentration on Architectural Project Management from Portland State University.
Scott is a seasoned finance and business operations leader, including consulting roles with Anthem Memory Care and Eclipse Senior Living. Prior, Scott served as an associate with the National Housing Group at A.G. Edwards. He has lead organizations at Intel, Kinder Care Education, and Nestle/Starbucks Coffee Alliance. Scott earned a B.A. from Colby College and a MBA in Finance at Washington University of St. Louis.
5335 Meadows Road, Suite 140, Lake Oswego, Oregon 97035