Formation-Shelbourne Senior Living Services
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Our Team

Formation-Shelbourne Senior Living Services is comprised of team members from 
Formation Development Group and Shelbourne Healthare Development Group
Please see individual biographies below. 
You may email any team member from the links below.


Shelbourne Healthcare Development Group Team

Joseph L. Fox

Joe Fox is a Co-Founding Partner of Shelbourne Healthcare. Formerly a Partner and Global Head of Real Estate at Claret Capital, Joe formed Claret’s Global Real Estate Group in February 2008. Joe, with over 23 years of real estate experience, managed all real-estate related activity within Claret Capital, to include acquisitions and asset management. He has an extensive real estate owner/operator background, having built the operating partner platform at Pitcairn Properties with institutional partners including GE Capital, SEB ($4 billion German open-ended real estate fund), Capmark, Citigroup, and Lexington Corporate Properties Trust.

Before Claret, Joe was Executive Vice President at Pitcairn Properties. He joined Pitcairn in 2003, and was responsible for all acquisition activity within the company to include equity, finance, and joint venture partnerships. At Pitcairn, Joe grew the portfolio from $300 million to over $2 billion of assets under management.

Prior to joining Pitcairn Properties, Joe spent 17 years with CB Richard Ellis (CBRE) in its Philadelphia office, specializing in value-added real estate transactions. At CBRE, he acquired extensive national REO (real estate owned by banks after foreclosures) workout experience from servicing his institutional clients.

Joe is a graduate of St. Joseph’s University in Philadelphia.

James W. Kane III

Jim is a Co-Founding Partner of Shelbourne Healthcare. He was formerly a Managing Director of Claret Capital, and was responsible for all capital origination in the U.S. for both real estate and private equity investments. Jim has over 23 years of experience in the financial services industry.

Prior to joining Claret, Jim worked for Lehman Brothers, Credit Suisse, and Dillon Read. At Lehman, Jim oversaw the mid-Atlantic region for the Wealth Management Group. At Credit Suisse, he headed the Middle Market Equity Sales team in Philadelphia. Over the course of his career, he has developed an extensive client base of high net worth individuals and small- to mid-sized institutions. His primary focus was equities and structured products. Jim has raised capital for companies in both the public and private markets through initial public offerings, secondary issuances and private placements. He also has experience with sourcing capital for fund managers and "funds of funds." Jim began his investment banking career in 1984 with Smith Barney.

Jim is a founder and former board member of Maverick Network Solutions. He is also a former trustee of St. Joseph’s Preparatory School in Philadelphia.

Jim received a BA in Economics from Fairfield University and an MBA from the Pennsylvania State University.

Shelbourne Capital
595 E Lancaster Ave
Suite 300
Radnor, Pennsylvania 19087


Formation Development Group Team

Mark T. Spiegel

Mark Spiegel is Co-Founder and President of Formation Development Group, a senior living development, consulting and investment company that is an affiliate of Formation Capital.

Previously Mark was the President of Argos Realty Partners, a senior living fee development consulting company, from 2004-2007. Argos developed over 20 senior living projects for Sunrise Senior Living.

Previously, Mark was one of the Co-Founders of EdenCare Senior Living Services in 1996 and served as its Chief Executive Officer and Chief Investment Officer. In 2003, Mark oversaw the sale of EdenCare to CNL Retirement, a REIT that was aligned with Sunrise Senior Living.

He has also held positions with Trammell Crow Realty Advisors in Dallas, the advisory arm of the Trammell Crow Company, and with Greystar Capital Partners in Houston (now based in Charleston, SC), an investor and developer of apartments and other real estate.

Mark graduated from Harvard University.

Jay Robinson

James (Jay) Robinson is Co-Founder and Executive Vice President of Formation Development Group.

Jay was Executive Vice President of Argos Realty Partners, a senior living fee development consulting company, from 2004 -2007, where he directed development, construction and facilities management.

From 1998 to 2004, Jay was Vice President of Development with EdenCare Senior Living Services, with oversight of development, construction and facilities management.

He was previously with Medcath, Inc, a developer and operator of specialty heart hospitals, and with Henningson, Durham & Richardson (HDR) in Dallas, a national planning and architecture firm.

Jay is a graduate of Texas Tech University.

Mark P. Maberry

Mark Maberry is Co-Founder and Executive Vice President of Formation Development Group.

Mark was an Executive Vice President with Argos Realty Partners from 2004-2007. He was previously an Executive Vice President with EdenCare Senior Living Services from 1997-2004, where he headed up real estate development as well as corporate sales & marketing.

He previously held positions as Vice President of Development with Sunrise Senior Living in McLean, Virginia, the nation’s leading senior living company, and with Deerfield Healthcare Corporation in Baltimore, a developer and operator of adult day care centers.

He is a graduate of Virginia Tech.

 Formation Development Group, LLC
178 South Main Street
Suite 375
Alpharetta, Georgia 30009