OVATION GROUP

Creating Communityfor Good

EXECUTIVE SUMMARY

Ovation Group is a seasoned investor, award-winning developer, and experienced owner of senior living communities dedicated to creating vibrant, high-quality environments that enhance the lives of aging adults and optimize investor returns. With a team that brings decades of expertise in all facets of the industry, Ovation has a strong track record of working with top institutional and private capital partners, utilizing a range of investment structures to optimize outcomes.

From 2011 to 2025, Ovation served as the exclusive investment and development affiliate of MorningStar Senior Living. During this period, the MorningStar brand expanded from a small local operator to become one of the most prominent owner/operator/developers in the Western US. Its portfolio grew to include over 40 communities across 12 states, representing a total portfolio value of approximately $3 billion.

Ovation is differentiated by its deep operational knowledge. Significant hands-on operational experience uniquely positions Ovation to optimize community performance, enhance resident experiences, and maximize investment returns.

At the heart of Ovation’s mission is its guiding principle:

“creating community for good”. This reflects a dual commitment—creating spaces where seniors can connect and thrive while also leveraging the company’s resources to drive meaningful social impact. With its deep industry expertise, operational acumen, and purpose-driven mission, Ovation is ideally positioned to deliver exceptional value in the senior living sector while making a lasting difference in the communities it serves.

CASE STUDIES | ACQUISITIONS

Pasadena, CA

225 units; IL / AL / MC
Completed: 9/2022
Scope: $6.9M CapEx to existing AL, convert AL units to MC units, and add 76 units of IL ($63.5M). Comprehensive renovation of an aging asset, including full refresh of common areas (lighting, finishes, FF&E, layout reconfigurations), unit upgrades, and construction of 76 new IL units. Converted an AL wing into a dedicated Memory Care eighborhood, expanding care continuum.
Everett, WA

148 units; IL & AL
Completed: 5/2022
Scope: $1.5M CapEx to renovate common areas and improve overall aesthetics of the building; full rebranding. Cosmetic and branding-focused value-add: refreshed finishes in common areas and a full rebranding to improve curb appeal and operational performance.
Lakewood, CO

107 units; AL / MC
Completed: 5/2024
Scope: $2.0M CapEx to existing building, upgrading common areas as part of operator transition and rebranding. Targeted enhancements to high-impact common areas with updated finishes and replacement of outdated FF&E. Focused scope aligned with operator transition and brand repositioning.
Hayward, CA

227 units; IL / AL / MC
Completed: 3/2023
Scope: $30.0M renovation to redesign and upgrade the common areas, units, and corridors. Full rebranding, enhanced overall aesthetics and added 35 secure MC units to create a full continuum product. Full renovation of an occupied community. Exterior, interior, and unit refresh including MEP systems, complex waterproofing/mold remediation, common area redesign, and aesthetic overhaul. Delivered a secure MC product and full continuum of care.