A key aspect of Edison Fifty-Five Premier’s approach is the development of their Active/Senior living brand of communities, in addition to acquiring properties in markets that exhibit high population growth and positive drivers. The goal is to create an environment where residents can engage in programming that aligns with their personal interests, allowing them to cultivate a culture of social interactions, wellness, and inspiring events. By emphasizing wellness and lifestyle, Edison Fifty-Five Premier aims to cater to the evolving needs of seniors who are seeking more than just traditional housing options.

55+ Active Adult Development

Target Unit Size

160-180+ patio homes

Average Deal Size

$50MM-$70MM

Cost/Unit

$200K-$400K

HOld Period

3-5 Years

Debt Strategy

60% LTC Construction Loan to mini-perm

Target Project IRR

20%-25% IRR

2023 Target Volume

$120MM (2 projects)

2023 Required Equity

$50MM

55+ Active Adult Acquisitions

Target Unit Size

150

Average Deal Size

$30MM-$50MM

Cost/Unit

$160K-$260K

HOld Period

3-5 Years

Debt Strategy

60% LTV Bridge and Agency

Target Project IRR

16%-17% IRR

2023 Target Volume

$50 MM (1 property)

2023 Required Equity

$20MM

Amenities

Edison Equity’s Active Living communities offer a range of amenities and services tailored to support the active lifestyles of residents. These amenities and services are designed to promote physical fitness, social engagement, and overall well-being.

Dining Experience in Select Communities

The Edison Equity dining program offers a comprehensive dining experience throughout the day, ranging from breakfast and lunch options to poolside casual dining, grab-and-go offerings, and evening dining with a formal menu. Additionally, there is a full-service bar available for those who wish to enjoy a variety of beverages.

Dedicated Areas for Social Gatherings and Events

Edison Equity creates community-focused spaces where residents can come together for socializing and events. These areas may include clubhouses, lounges, multipurpose rooms, and outdoor gathering spaces for programming such as parties, workshops, and networking events.

State-of-the-Art Fitness Centers

Equipped with modern exercise machines, free weights, and workout areas, these fitness centers provide residents with convenient access to a variety of equipment for cardio, strength training, and group fitness classes.

Resort-Style Swimming Pools

These pools are designed to provide a refreshing and enjoyable experience for residents. They may feature lounging areas, cabanas, and sundecks, creating a resort-like atmosphere for relaxation and socializing.

Outdoor Lounges

These elevated outdoor spaces offer panoramic views and comfortable seating areas where residents can unwind, socialize, and enjoy the fresh air.

Outdoor Recreational Spaces

Edison Equity Active Living properties may include amenities like walking trails, biking paths, pickleball and green spaces where residents can engage in outdoor activities and connect with nature.

Pet-Friendly Areas

Recognizing the importance of pets in residents’ lives, Edison Equity provides amenities such as dog parks, pet grooming stations, and pet-friendly walking paths to cater to the needs of pet owners.

In addition to these physical amenities, Edison Equity places a strong emphasis on exceptional resident services. This includes concierge and front desk services to assist residents with various needs, on-site property management for efficient operations, maintenance, and repair services to address any issues promptly, package delivery and handling to ensure convenience, and personalized assistance to cater to specific resident needs.
The Edison Fifty-Five Premier communities will showcase commitment to creating cutting-edge properties that will involve identifying superior locations and designs that are tailored to meet the needs of our discerning clientele. They will have The Edison Premier’s attention to detail and focus on delivering exceptional quality that offers the latest in modern design, technology, and elevated amenities.

Demographics & Demand

As the baby boomer generation continues to age, there is a growing need for alternative housing options that cater to healthy, active seniors. This demographic is expected to grow significantly, with a projected population increase of 30% from 2020 to 2030, compared to just 6.75% for the overall U.S. population. With the rising cost of living, the percentage of senior renters is expected to increase from 24% to nearly 43% in the coming decade. These trends highlight the need for innovative solutions to address the unique needs of this growing demographic.

Durable Income

Seniors, with their stable household income through social security and higher savings and assets than any other generation, are turning to Active/Senior Living as an alternative to traditional apartments. This market segment has a proven track record of the highest level of rent collections when compared to conventional apartments. This demographic supports low turnover resulting in minimal requirements for recurring maintenance and capital expenditures.

Lifestyle + Worry-Free

Offering these superior amenities, exceptional services, and a curated lifestyle, Edison Equity sets itself apart from competitors in the Active/Senior Living market. This differentiation strategy aims to attract discerning residents who are willing to pay a premium for a higher level of comfort, convenience, and community engagement.

Jason Engelhorn

EVP Development Operations

Jason Engelhorn boasts an impressive 28-year career in the Senior Living Industry. Initially an Activity Director, Jason quickly moved into the role of Executive Director where his community regularly achieved 100% occupancy and won numerous company-wide awards. After 11 successful years as an Executive Director, Jason stepped into Regional Operations roles. Starting as a Regional Director of Operations, he was promoted to a Vice President of Operations position before advancing to the position of Senior Vice President of Operations. Jason’s passion and specialty is New Development Operations having worked predominantly in this field for the past 8 years while successfully supporting and navigating numerous Senior Living Community new openings. Jason resides in Sonoma County, California, with his wife of over 25 years, and their two sons, both in their 20s. Jason holds a Bachelor of Science in Recreation Administration, which he obtained from California State University, Chico.

Allison L. Singler

EVP of Sales and Marketing

Over 25 years of experience in the senior living industry responsible for developing and executing sales and marketing strategies for Oakmont Senior Living and Integral Senior Living.

Allison has worked for industry leaders in senior living and has experience in owner operated companies and third-party management in both new development and stabilized portfolios. Prior to Edison, Allison worked with Oakmont Management Group out of California and primarily focused on their new development communities, with successful openings exceeding 65% pre-lease and driving her stabilized communities to exceed 95% occupancy.

Allison’s expertise is in sales activities including the leadership, team building and direction of field’s sales teams, development and implementation of sales strategies and tactics, training and development of team members, marketing strategy and planning and consistent tracking and performance of all sales results. A steadfast focus on daily sales and marketing management to drive occupancy and revenue growth.

Brett A. Magnuson

Chief Investment Officer

22 years of experience in the real estate industry. Brett joined Edison Equity Partners, LLC at its inception in 2016 and established its institutional quality investment platform. This disciplined approach has been applied to perform full due diligence on over $1B of potential acquisitions and closed on 6 communities with a portfolio value of ~$150MM.

Brett’s commercial real estate experience includes specializing in acquisitions, underwriting and closing deals, risk management, financial reporting, CMBS, and asset management. Brett was the GE Real Estate Global Valuations Process Leader for a $35B+ portfolio of assets where he managed the North American Quarterly Valuations and reporting process. He led the respective teams across Europe and Asia to drive consistency. Prior to his role as Global Valuations Process Leader, Brett was a Senior Underwriter for GE Real Estate’s North American Equity Platform and underwrote $600MM+ of new business acquisitions with a concentration on multi-family across the US. He also worked on the CMBS Team that successfully Securitized 10 North American Debt transactions totaling $6.4B (690 loans).

Naveen Bala

Chief Financial Officer

22 years of finance of experience that includes numerous leadership positions in high-profile companies Hunt Real Estate Capital (Lument), GE Capital Real Estate and IBM. He has an extensive background in corporate accounting, financial planning and analysis, real estate valuation, M&A analysis and system integrations. Before joining the Edison team, Naveen was Controller for Hunt Real Estate Capital (Lument), a specialty finance and investment management business.

Prior to Hunt, Naveen was with GE Capital Real Estate for over 11 years, beginning his GE career as an Accounting Manager on the JV accounting team, managing 140+ multifamily, office and retail JVs valued at over $2.5 billion. He eventually was promoted to Assistant Controller and Controller managing various equity portfolios across multiple property types valued at over $2+ billion. Prior to the sale of GE Real Estate in 2015, Naveen served as Finance Manager of GE’s $11+ billion U.S Lending portfolio, responsible for oversight and management of all core financial planning components. He began his accounting career at IBM in a variety of accounting roles.

Bruce Bardgett

EVP of Asset Management

Having 30 years of multifamily asset management experience including 25 years at GE Real Estate, Bruce brings a hands-on approach to asset management to protect our investments and maximize value, managing our debt portfolio and advising on acquisitions & dispositions.

As a commercial real estate industry veteran, Bruce’s background includes joint venture equity acquisitions/development, asset management, investment sales, RE underwriting, and RE loan workout/restructuring. Bruce led GE Real Estate’s Greystar and JPI multifamily JV relationships. Prior to his role at Edison Equity, Bruce was Head of Asset Management for Gables. Prior to his role at Gables, Bruce was with GE Capital Real Estate, where he held multiple positions including Director of Equity Investments, Senior Asset Manager, and Underwriting Specialist. As Director of Equity Investments, he acquired/developed over 190 properties with numerous joint venture partners generating approximately $2B of new equity volume. As an Asset Manager, he was responsible for a $1B portfolio of multifamily, retail and office assets.

Dawn M. Waye, CPM

Chief Operating Officer

30 years in multifamily and real estate with a heavy focus on operations. Dawn worked for some of the largest management companies, servicing Institutional clients and family office investors with market knowledge through-out the country. Growing in the industry afforded her a multi-faceted view of real estate, serving in different capacities such as Asset Manager, V P of Operations, President/Owner of a construction service company that included negotiating, bidding, and being awarded government contracts.

As a Founder, President, and Principal Broker of City Gate Property Group from 2014-2021 she managed 2.2 billion in assets (18,000+ units) for investors. As a partner she helped grow a successful company that sold to Asset Living. She holds broker licenses in multiple states as well as a CPM Designation. She provides peers, clients, vendors, and residents a voice at the local, state and national level through industry legislative advocacy as a volunteer to the various Apartment Associations. Dawn is relationship driven, entrepreneur minded, results oriented. She has the Owners perspective and able to solve systemic issues, addressing concerns and communicate transparently.

James Traylor

SVP of Property Management

New Over 20 years of experience in the multifamily housing industry managing high impact property management and sales operations for Portico, Mill Creek Residential, Bell Partners and Greystar. Focused on active adult since 2018.

James’ background has included oversight of new construction, conventional, senior, garden, mid-rise and high-rise assets of all classes including value-add renovations and repositioning projects. James began his career in 2004 in Irving, TX with Camden Property Trust as a part time leasing associate and quickly realized his passion for the industry. During his tenure with Camden, James was fast tracked to management and served as a mentor and field trainer for key operational positions.

Throughout his multifamily career, James has worked with both owner and fee managed firms. James is well versed in new construction, lease-ups (garden, mid-rise and high-rise), development and marketing. During his career, James has been successful in identifying obstacles and creating solutions to maximize asset value all while delivering exceptional levels of service to both his internal and external customers.

Mark Sepulveda

Principal/Chief Development Officer

34 years of experience in the real estate industry (including multifamily, office, retail and mixed use) with the last 25 spent in development. Mark brings experience in all phases of development including site selection, feasibility analysis, land acquisition, entitlements, financial pro forma, budgeting, design oversight, construction management, property management, leasing and debt and equity financing.

Over Mark’s 25-year career, he has developed $1.9B of real estate in Texas and Arizona. Mark’s primary focus over the last 5 years has been ground-up multifamily development. He created a start-up multi-family division for a regional developer in Houston, launching a unique brand and initiating development of over 1,500 units valued at over $500MM.

Mark’s broad-based experience across multiple asset classes brings a unique insight to the development team.

Carolyn S. White

Principal/Chief Executive Officer

Risk management focused leader with over 34 years of commercial real estate experience. Carolyn founded Edison Equity Partners, LLC in 2016, where she has assembled a cross-disciplinary team with extensive multi-family experience, developed a rigorous investment policy, and established strong relationships with debt and equity partners. Carolyn and her team have performed due diligence on over $1B of value-add multi-family assets, acquired 6 communities with a portfolio value of ~$150MM and are on track to realize a 20%+ increase in each property’s value 2-3 years from acquisition.

Previously, Carolyn spent 20 years at GE Real Estate in various roles including originations and risk management as an underwriter, deal leader, risk manager and risk leader managing the financial risk in GE’s $35B core real estate portfolio. For 5 of those years, she provided risk oversight on the valuation, underwriting and due diligence process for ~$6.1B in acquisitions including wholly owned real estate transactions, development deals, LP interests in joint ventures and fund investments. On GERE’s Large Transaction, Team Carolyn underwrote and/or led portfolio debt and equity deals across the US, Canada and Europe totaling ~$10B including distressed loan purchases, large loan portfolio originations and corporate acquisitions.

Carolyn leads by example with collaboration and engagement to ensure we are meeting and exceeding our goals as a company and delivering on our promises to residents and investors.