Our People
Arnold Whitman
CEO and Co-Chairman
Over the past 25 years, Arnold Whitman has been actively involved with investing in senior housing and healthcare. His career started in 1985 as Director of Acquisitions for MediPlex (publicly traded specialty healthcare company) and evolved into his role as Vice President of Meditrust (publicly- traded REIT) in 1986. In 1993, he left Meditrust to form Health Care Capital Finance (HCCF 96-96), a private debt provider, where he developed a successful securitization program for Senior Housing and Care. HCCF eventually merged into PRN Mortgage Capital (a partnership with SouthTrust Bank and ContiFinancial services) where he acted as President and oversaw over $2 billion of debt investments into Senior Housing and Care. In 2000, Mr. Whitman created Formation Capital as an advisory and equity investment firm for Senior Housing and Healthcare.
In addition, Mr. Whitman is a founder in Prime Care Properties and a founding member and current executive board member of Care Institute, a not-for-profit owner of seniors housing and care properties. He is Chairman Emeritus of the National Investment Center for the Senior Housing and Care Industry (NIC). He has served as a speaker for the following organizations: Australian Senior Housing Summit, Retirement Villages Association of New Zealand, NIC, American Senior Housing Association (ASHA), Assisted Living Federation of America (ALFA), National Council on Senior Housing, American Health Care Association and LTC100. Mr. Whitman has written articles for many healthcare publications, including Contemporary Long Term Care, Assisted Living Today, Modern Healthcare and Real Estate Forum.
Steve Fishman
President and Co-Chairman
Steve Fishman has more than 30 years of experience in the financial services industry, including 22 years in the health care services industry. The structuring of these services include Government Financing (HUD232), Non-profits 501(c)(3), seller financing, taxable bonds and public offerings (SEC).
Mr. Fishman graduated with a Bachelor of Science in Accounting from Drexel University. He is involved in many health care trade associations including the Assisted Living Federation of America (ALFA), the Pennsylvania Assisted Living Association, the National Association for Senior Living Industry Executives, the Healthcare Financial Management Association, the New Jersey Association of Healthcare Facilities, and the Pennsylvania Health Care Association and serves on the Strategic Planning Committee of a large non-profit religious-affiliated health care center in Philadelphia.
Damian Dell'Anno
Chief Operating Officer & Senior EVP
Damian Dell'Anno joined Formation in April 2008. In his new role, he will be leading the day to day operations and direction of the organization. He brings with him 26+ years expertise in leading change, building shareholder value, and managing Board and investor expectations. He has a demonstrated track record of developing new businesses, driving mergers & acquisitions, and raising capital through leading and developing high quality, rapid growth teams and organizations.
Prior to joining Formation Capital he was co-founder of Next Step Healthcare in April 2007. Previously he was with Harborside Healthcare for 17 years where he served as Chief Operating Officer since 1994, President since 2001, and Chief Executive Officer and Chairman since 2005. He served as head of Harborside's specialty services group and was instrumental in the initial development of Theracor, Harborside's rehabilitation therapy company.
Prior to joining Harborside, Mr. Dell'Anno served as Director of Budget, Reimbursement, and Cash Management for the Mediplex Group, Inc. In addition, he has held several other positions in the senior housing and healthcares services sector. Mr. Dell'Anno is a past member of the Alliance for Quality Nursing Home Care, and the Massachusetts and Ohio Nursing Home Associations.
Mr. Dell'Anno is presently a member of the Board of Directors of the Connecticut Association for Healthcare Facilities and serves as Chairman of the Board of Directors, Millennium Pharmacy Systems, Inc. Mr. Dell'Anno holds a B.S.B.A degree in Accounting from Suffolk University.
Chris Sertich
Chief Financial Officer
Chris Sertich brings broad experience in health care consulting and financing to Formation Capital. Prior to assisting in the establishment of Formation Capital, Mr. Sertich was Chief Financial Officer and a Director of PRN Mortgage Capital, LLC. Through the use of secondary market sources such as loan securitization and direct loan placements, the entity closed more than $1.5 billion of loan volume over a three-year period. Mr. Sertich also has worked in the public finance arena, completing more than $750 million of tax-exempt bond offerings in both feasibility consultant and advisory capacities. Prior to entering mortgage banking, Mr. Sertich was in the healthcare consulting practice of Coopers & Lybrand with responsibilities for project management and client development within the healthcare industry. Areas of professional competence included financial feasibility, analysis and support of acquisitions and strategic and financial planning for acute-care hospitals, long-term care facilities and related entities.
Mr. Sertich has been active in many of the senior housing and long-term care trade associations, including the National Investment Center for the Senior Housing and Long-Term Care Industries (NIC), Assisted Living Federation of America and the American Health Care Association, among others. He has a Master of Business Administration from the University of South Carolina and is a Certified Public Accountant.
Michael T. Jones
Senior Vice President
Mike Jones joined Formation Capital in May 2002 and is actively involved in all aspects of the company’s acquisition and asset management activities. Primary responsibilities include management of the company’s investment analysis, due diligence processes, legal documentation and capital structuring. Mr. Jones also oversees a team of three Asset Managers and has developed strong relationships with the company’s lenders and operating partners.
Mr. Jones has thirteen years of progressive business experience including nine years of real estate investment work. He has participated in the acquisition of more than 250 real estate assets and ancillary operating companies valued in excess of $2.2 billion. Prior experience includes Director/Vice President of LinksCorp, LLC and Client Manager for John Hancock’s Group Benefits division.
Mr. Jones received an MBA from Wake Forest University with a concentration in finance and a Bachelor’s degree from Michigan State University.
Scott E. Brown
Vice President, Asset Management
Scott E. Brown joined Formation Capital in June 2007 as Vice President of Asset Management. In this position, Mr. Brown is responsible for investment portfolio performance and compliance.
Mr. Brown has more than 15 years of progressive experience in corporate finance, strategy development, operational turnarounds, and portfolio management. Most recently, Mr. Brown served as a corporate finance executive at DS Waters, a highly-leveraged, private-equity backed water delivery company. In this position, he built a centralized shared-services organization and consolidated finance operations for 7 acquisitions comprising nearly 150 branch locations. Before DS Waters, Mr. Brown reorganized the Massachusetts Office of Business Development under the Romney administration. As the Executive Director, he fostered economic development and real estate investment by administering state and local tax incentives, launching a tax-increment financing program, and commercializing surplus government property. Prior, as a corporate executive at CMGI, Inc., Mr. Brown managed an internet technology investment portfolio and served as strategic advisor to each portfolio company’s board of directors. Earlier in his career, as a consultant at Bain & Company, Mr. Brown developed growth strategies and financial plans for private-equity investors as well as Fortune 500 clients. Mr. Brown began his career at Procter & Gamble, where he managed manufacturing operations and new product launch initiatives.
Mr. Brown earned a mechanical engineering degree with high distinction from Worcester Polytechnic Institute and an MBA from Harvard.
Christina K. Firth
Vice President
Christina Firth joined Formation Capital in 2005 as Vice President. She is responsible for investment analysis, underwriting, deal negotiation, structured finance transactions, litigation management, and corporate governance.
Prior to joining Formation Capital, Ms. Firth was Litigation Manager for Mariner Health Care Management Company, an Atlanta based company. While at Mariner, she participated in the successful merger of National Senior Care and Mariner Health Care, Inc., an acquisition totaling $1,055,000,000 in real estate assets and managed over 400 general liability/professional liability lawsuits nationally.
Ms. Firth holds a Master of Business Administration from the University of Phoenix, with a concentration in healthcare management and a Bachelor of Arts from Agnes Scott College. Ms. Firth is also a member of the Turnaround Management Association and is currently working towards her CTP certification.
Martin D. Brew
Vice President Finance
Marty Brew joined Formation Capital as a consultant in February 2007 and began serving as our Vice President Finance in January 2008.
Primary responsibilities include development of strategic planning initiatives, along with oversight of portfolio-level financial audits and tax compliance.
Mr. Brew has over twenty years of financial management experience with both public and private companies operating in the real estate and hospitality industries. He began his professional career as an auditor with KPMG, one of the Big 4 public accounting firms.
Mr. Brew earned a Bachelor of Science degree in Business from Indiana University and is a Certified Public Accountant.
Diane S. Bullens
Director of Human Resources
Diane Bullens brings experience in both real estate and the healthcare industry. Prior to joining Formation Capital in 2001, she was with the Hitchcock Clinic and Cheshire Medical Center, a regional health care system based in New Hampshire. From 1986 until 1991 she was involved in real estate sales and development in Boca Raton, Florida.
Her responsibilities at Formation Capital include providing a broad base of office and personnel management functions. She also assists Formation Capital Asset Management as the Investor Relations Representative.
Ms. Bullens holds a Master of Business Administration from Franklin Pierce College in Rindge, New Hampshire and a Bachelor of Science from Westbrook College in Portland, Maine. She has attended the Executive Development Program at the Johns Hopkins University / NIC Seniors Housing and Care Program.
Ed Hart, CPA
Controller
Ed Hart, CPA, joined Formation Capital in August 2005 as the Controller. He is responsible for the accounting and treasury functions of Formation Capital and its related entities. He also provides support for the acquisition and asset management activities.
A graduate of Boston College, Mr. Hart began his accounting career in the New York office of Arthur Andersen & Co. He has both public and private accounting experience, as well as experience in real estate management, development and acquisition.
Prior to joining Formation Capital, Mr. Hart was a member of the team responsible for the filing of the restated and amended SEC filings of HealthSouth Corporation
Dejernette Beaty
Senior Asset Manager
Dee Dee Beaty joined Formation Capital, LLC in September 2004 as an Asset Management Director. She is responsible for the overall asset management of two skilled nursing portfolios with a combined total of 117 licensed facilities.
Mrs. Beaty has held several accounting and administration positions in the government, private, and non-profit sectors. Prior to joining Formation Capital, LLC, Mrs. Beaty worked as a real estate accountant for Apartment Investment Management Company (AIMCO). At AIMCO she was responsible for processing, reporting, and analyzing accounting data for sixteen apartment complexes nationwide.
Mrs. Beaty holds a Master of Business Administration from Webster University and a Bachelor of Science in Accounting from South Carolina State University.
Gregory Carr
Asset Manager
Gregory Carr joined Formation Capital in May 2006 as an Asset Manager. He oversees three portfolios, where his primary duties include document compliance, operations analysis, and quarterly investor reporting.
From 2001 to 2006, Gregory worked as a financial analyst for Colonial Properties Trust; a $5.6 billion diversified REIT included in the S&P SmallCap 600 Index and listed on the New York Stock Exchange. While at Colonial, he prepared financial analyses on approximately $635 million of successful office building developments, acquisitions, and dispositions. In 1999 until mid-year 2001, he worked as an analyst at Tri-Mont Real Estate Advisors, a commercial real estate financial services provider for a prominent Wall Street investment bank.
In 1999, Gregory received a Bachelor of Business Administration degree with a major in Real Estate/Asset Management from The University of Georgia.
Sally Yost
Asset Manager
Sally Yost, CPA, joined Formation Capital, LLC in December 2006 as an Asset Manager. She is responsible for the overall asset management of a skilled nursing portfolio with a combined total of 71 facilities and several ancillary businesses.
From 2004 to 2006, Mrs. Yost worked in different accounting capacities in the real estate and medical billing industry for Urbana Holdings, Home Depot and Per-Se Technologies. From 2001 to 2004, Mrs. Yost worked as an accounting manager with Hines, a commercial real estate developer and property manager, responsible for the oversight of the South America regional development and management accounting as well as 3 office buildings in the Atlanta area. Prior to Hines, Mrs. Yost spent 9 years with Lend Lease Real Estate Investments, formally Equitable Real Estate, working with the Equitable portfolio as well as a privately held U.S. REIT that was publicly traded in Australia.
Mrs. Yost earned her Bachelor of Science in Accounting from Kennesaw State University and is a Georgia Licensed CPA.
Stacy Davis
Asset Manager
Stacy Davis joined Formation Capital in May 2007 as an Asset Manager. She oversees three portfolios, where her primary duties include document compliance, operations analysis, and quarterly investor reporting.
From 2002 to 2007, Stacy was a Real Estate Manager for CB Richard Ellis and Cousins Properties. She managed several Class “A” buildings in the Atlanta market, including several buildings at Concourse Corporate Center. Prior to her involvement in real estate services, Stacy spent ten years in Information Technology, in both government and private sectors, as a database programmer, software trainer, technical support analyst, and technical writer.
Stacy earned a Bachelor of Science degree from the University of Maryland in 1996, with a major in Management and a minor in Physics.
Stephen Leake
Director, Asset Management
Stephen T. Leake joined Formation Capital in September 2007 as Director, Asset Management. In this position, Mr. Leake is responsible for post–closing transaction oversight, portfolio performance, and compliance.
Mr. Leake has more than 13 years of progressive experience in corporate finance, private equity, operations, and portfolio management. Most recently Mr. Leake was a principal at Incentive Capital Management, where he managed public and private equity investments, transactions, and financing. In this capacity, he also evaluated deals and lead operations.
Prior to Incentive Capital, Mr. Leake was hired by the Department of the Army to run the $468 million US reconstruction program for Anbar Province, an area the size of Illinois comprising the western third of Iraq. In this capacity, Mr. Leake served 15 months traveling around the Sunni Triangle where he provided strategic direction and leadership for a program of 200+ complex, multi–million dollar infrastructure projects covering all major phases of public infrastructure including power, water, healthcare, education, waste water, roads, and public safety. As Regional Director for the Iraq Project and Contracting Office, he was permanently embedded with the U.S. Marines in Ramadi, Najaf, and Fallujah and held the civil service rank equivalent of a colonel.
With a SECRET security clearance, Mr. Leake coordinated at the regimental commander and general officer levels with the U.S. Marines, U.S. Army, U.S. State Department, U.S. Navy Seabees, and Iraqi government. He was awarded the Joint Meritorious Unit Citation for mission success and more than a year of continuous service in a combat environment.
Before working for the US government in Iraq, Mr. Leake was Director of Research at private equity firm EndPoint Capital in Atlanta where he was responsible for the equity research function and due diligence efforts on post–venture restricted shares. Prior to EndPoint he was a senior investment analyst for Trusco Capital Management and SunTrust from 1995 to 2000.
Mr. Leake has a BA in Economics from Dartmouth College and an MBA from Emory University. He is a Level III candidate in the CFA Program.
Paul O'Sullivan
Manager, Financial Reporting and Analysis
Paul joined Formation Capital in January 2008. He is responsible for streamlining Formation’s financial reporting. Prior to joining Formation, Paul worked as a Financial Analyst for Aelera Resources. At Aelera, Paul was responsible for financial modeling, budgeting, and forecasting. Prior to Aelera, Paul worked as a Financial Analyst for Jameson Inns. At Jameson Inns, Paul was responsible for the accounting and management of $250 million of mortgage debt.
Paul holds a Masters of Business Administration in Finance from Georgia State University and a Bachelor of Business Administration in Accounting from The University of Georgia. Paul is a reservist in the United States Marine Corps and is a Level II CFA candidate.
Katy E. Warren
Executive Assistant and Marketing Coordinator
Katy Warren joined Formation Capital in October 2005 as the Executive Assistant to Arnold Whitman. In addition to her assistant duties, she is responsible for all marketing and design projects, including the newly re-designed website.
Before joining Formation Capital, Ms. Warren served as the Executive Assistant and Marketing Coordinator for the Corporate Investigations division of Smith & Carson, a legal services firm headquartered in Atlanta. Ms. Warren supported the CEO, EVP and a team of forensic accountants and investigators, while also being an integral component of the Marketing department. She designed several marketing pieces and collaborated with the Director of Marketing on the firm's national branding and marketing campaign.
Lizbeth Grall
Executive Assistant
Bio coming soon.
