Omega Communities

Omega Communities develops new Senior Living Communities (SLC) in affinity relationships with sponsoring churches. While the church doesn't manage the SLC, or have an equity position or ownership of interest within the specific project LLC, the church is allocated a percentage (between 10%-25%) of the next distributable cash flow of the project upon stabilization. Due to the unique characteristics and dynamics of each local development and the attendant church relationship, as well as tax credits and other incentives that may be available to a particular development, each project is structured within a single asset LLC that is owned and controlled by Omega Communities. Omega is focused on the development of new facilities with a stated mission and the opportunistic acquisition of existing facilities that present unique initial and long-term value. Omega has focused primarily on acquisition opportunities in the southeast or within a direct flight from Birmingham, Alabama - the headquarters of Omega. Omega has entered into an agreement to acquire a project in Lake Charles, Louisiana, and is currently pursuing two other projects in Alabama. These facilities are not readily available on the public market, but Omega and its operating partner, LCS/CRSA Management have determined that they are both a strategic and cultural fit - as well as a significant value play for the overall Omega enterprise. Omega's current list of selected opportunities includes over $1 billion of possible projects. Investment returns in senior housing have exceeded commercial real estate returns during the current economic downturn according to a recently published study by the National Investment Center, experts in senior living. Omega has already broken ground on one project - the Springs at South Biscayne, in North Port, Florida, and will be breaking ground July of 2014 for the Fountains of Hope project in Sarasota, Florida. Omega also plans to commence development of 25 communities over the next five to seven years and acquire ten to fifteen existing or completed facilities during the same period. The Omega Team provides the development, financing and operational functions of the senior living community and accomplishes this through a dedicated network of knowledgeable, experienced, and skilled professionals who share our values and goals.