[November 07, 2016]

Prescient Innovation Continues with Completion of Two Senior Living Projects

Prescient, a fully integrated, proprietary and patented design, engineering, manufacturing and installation solution for the construction industry, announced today the completion of two senior housing projects located in Stuart, Fla., and Lonetree, Colo.

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MorningStar in Lonetree, Colo. (Photo: Business Wire)

This marks Prescient's entry into the senior living category, increasing the company's presence across the multi-unit housing spectrum in five categories, including: market-rate apartments, student dorms, hotels and armed forces housing.

The company's most recent senior living project, Providence Living at Stuart, owned by Providence One Partners LLC and located in Stuart, Fla., is a 108,000-square-foot, two-story structure that includes 68 assisted living units and 32 memory care suites. The project was designed by Baker Barrios and constructed with F.M. Harvey Construction.

The company's first senior living project, MorningStar at Ridgegate, owned by MorningStar Senior Living, features one-story, three-story and five-story interconnected wings built using Prescient's proprietary software and framing system. The 250,000-square-foot project consists of 124 independent living units, 71 assisted living units and 29 memory care suites. The project was designed by Lantz Boggio Architects, built by Haselden Construction and developed in conjunction with Jirsa Hedrick Structural Engineers.

"Our system is ideal for senior living projects," said Satyen Patel, chairman and CEO of Prescient. "The Prescient platform is significantly more cost-efficient compared to concrete or wood, and our ability to accommodate different types of units allows us to trim months off typical construction schedules, which means minimized neighborhood disruption and an expedited track to earnings, return on investment and project internal rate of return for developers."

Prescient structures consist of a combination of pre-assembled steel posts, trusses and panels that are custom-manufactured using Prescient's proprietary design software. The system is a viable option for senior housing projects because it is a non-combustible solution that minimizes disruption in the areas surrounding the construction zone and reduces the need for rework, helping owners meet timelines and budgets.

Prescient, which recently expanded its Arvada headquarters and manufacturing facility and broke ground on an East Coast manufacturing plant in Mebane, N.C., is on track to complete nearly 2 million square feet of projects during 2016 in market-rate apartments, hotels, armed forces housing, student housing and senior living segments in Colorado, Florida, Georgia, Illinois, Missouri, Nebraska, North Carolina, Oklahoma and Texas.

About Prescient

Prescient is a software design, engineering, manufacturing and installation company that provides an innovative design platform made of light gauge structural steel that offers a faster, greener and more cost-effective alternative to conventional building structures. Prescient provides multi-unit housing up to 16 stories high, including apartments, student housing, senior living, hotels and armed forces housing.

The Prescient platform is:

• Durable: it will not rot, warp, shrink, split, crack or creep and is resistant to moisture and insect infestation.

• Lightweight: it is easy to handle and is straight, uniform and consistent in quality.

• Strong: cold formed steel has the highest strength-to-weight ratio of any building material, so Prescient meets the highest seismic and wind load specifications with allowable stress values ranging from 21,000 to 33,000 pounds per square inch.

• Fire Resistant: the Prescient system is non-combustible, does not burn or contribute fuel to the spread of a fire and may help secure lower insurance rates.

The company is backed by Kanusul Investments Pte. Ltd., a private equity fund based in Singapore. For more information, visit the company website, Twitter feed or Facebook page.

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