“ORIX Commercial Mortgage Servicing is well-positioned to make a positive impact on the U.S. housing infrastructure through the subsidiaries of Boston Financial, Lancaster Pollard and RED,” says Garvey. “Further, we believe that having RED focus on its leading position in affordable and market rate multifamily housing and Lancaster Pollard focus on its leading position in seniors and healthcare housing will provide clients with the highest level of expertise and service and also ensure optimal coordination with the housing agencies and FHA. Together, this group of well-known, industry-leading brands will provide a comprehensive product offering, seasoned sector expertise, unparalleled client coverage and high levels of service.”

Advisors for ORIX USA on the transaction included Beekman Advisors Inc. and Houlihan Lokey Inc. for financial and Weil, Gotshal & Manges LLP for legal. For Lancaster Pollard, Credit Suisse Securities (USA) LLC served as financial advisor, and Kramer Levin Naftalis & Frankel LLP served as legal advisor.

DALLAS—ORIX USA has closed on its acquisition of seniors housing and healthcare lender Lancaster Pollard from Stone Point Capital. Deal terms were not disclosed; Commercial Mortgage Alert reported in August that the acquisition price was slightly more than $300 million.

The deal is seen as complementary to ORIX's previous acquisitions of RED Capital in 2010 and Boston Financial Investment Management in 2016. As with RED and Boston Financial, Lancaster Pollard will operate as a separate subsidiary of ORIX with its current management, including CEO Nick Gesue. Andrew Garvey, senior managing director and head of ORIX Commercial Mortgage Servicing, will have overall responsibility across the three businesses, with an eye toward the synergistic growth opportunities provided by the larger platform.

“The acquisition of Lancaster Pollard is a natural extension of ORIX's successful strategy of acquiring leaders in affordable, seniors and healthcare housing finance, as evidenced by our previous acquisitions of RED Capital Group and Boston Financial,” says Hideto Nishitani, ORIX USA's chairman, president and CEO. “Having these three companies under the ORIX umbrella extends our ability to improve the quality of life in our communities through investments in seniors housing and healthcare.”

The RED Capital investment brought Fannie Mae DUS, MAP- and Lean FHA and Freddie Mac small balance lending under the ORIX umbrella. Boston Financial added a distinguished track record in the Low-Income Housing Tax Credit industry to ORIX's toolbox, and Lancaster Pollard will expand the ORIX platform to include integrated investment banking, mortgage banking, balance sheet lending and private equity services focused on the spectrum of senior living and healthcare clients.

“ORIX Commercial Mortgage Servicing is well-positioned to make a positive impact on the U.S. housing infrastructure through the subsidiaries of Boston Financial, Lancaster Pollard and RED,” says Garvey. “Further, we believe that having RED focus on its leading position in affordable and market rate multifamily housing and Lancaster Pollard focus on its leading position in seniors and healthcare housing will provide clients with the highest level of expertise and service and also ensure optimal coordination with the housing agencies and FHA. Together, this group of well-known, industry-leading brands will provide a comprehensive product offering, seasoned sector expertise, unparalleled client coverage and high levels of service.”

Advisors for ORIX USA on the transaction included Beekman Advisors Inc. and Houlihan Lokey Inc. for financial and Weil, Gotshal & Manges LLP for legal. For Lancaster Pollard, Credit Suisse Securities (USA) LLC served as financial advisor, and Kramer Levin Naftalis & Frankel LLP served as legal advisor.