FOR IMMEDIATE RELEASE
Contact:
Martha B. Tate
Vice President of Marketing & Investor Relations
Servant Healthcare Investments, LLC
1000 Legion Place, Suite 1650
Orlando, Florida 32801
(407) 999-7679
SERVANT HEALTHCARE INVESTMENTS, LLC ANNOUNCES THE CLOSING OF AN ASSISTED LIVING DEVELOPMENT PROJECT NEAR ATLANTA
(ORLANDO, FL) August 24, 2008 –Servant Healthcare Investments, LLC provided the equity for the development of an eight acre, assisted living project in Cumming, Georgia near Atlanta. Upon completion, the project will contain 48 units with the capacity for 60 residents. Of the 48 units, 36 will be assisted living and 12 will be Alzheimer’s units. The project is being developed by Outer Marker Development, LLC. The manager of the project is Generations Management Group, a Georgia based provider of senior living services.
The founders of Outer Marker Properties have a combined 45 years of experience in real estate development and construction as well as 13 years of market-specific seniors housing experience. They have developed and managed over 650 units of independent and assisted living, seniors housing throughout the southeast. John Donaldson, Principal of Outer Marker Properties described the transaction this way, “This was our first transaction with the Servant team and I was very impressed with their ability to work through the obstacles that sometimes arise in a transaction and fully deliver on their commitments. In Servant, we have discovered an experienced and innovative capital provider and a trusted partner.”
Servant Healthcare is an Orlando based, real estate investment company created to invest in seniors housing and healthcare related real estate and operations. It is led by a team of industry veterans, with experience having previously built a portfolio consisting of over $3.5 billion in transactions encompassing approximately 275 assets. Servant’s core objective is to tailor a capital structure that complements the operating platform of developers and owner/ operators, recognizing that each is unique in its approach and service to the healthcare industry.
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