VIRGINIA – Capital One has closed a $285 million bridge loan to refinance Prime Care LLC's senior living portfolio.
The portfolio consists of 13 senior living communities comprising 1,081 assisted living units, 301 memory care units and 85 skilled nursing units, located across seven states. 11 of the facilities are managed by Sunrise Senior Living, while two facilities are managed by Harbor Retirement Associates.
Prime Care has served as owner of the facilities since the late 1990s, when they were built. Along with its affiliates, Prime Care has owned more than 50 senior living facilities, generating $250 million in revenue.
Capital One Healthcare is a financial services provider within the industry. The firm finances acquisitions, refinances existing debt, supports working capital needs and funds growth initiatives across healthcare sectors including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices.
Capital One Financial Corporation, headquartered in Virginia, is a financial holding company, with subsidiaries including Capital One NA and Capital One Bank NA.
➤➤ Join the GlobeSt.HEALTHCARE (formerly RealShare) conference December 3-4 in Scottsdale, AZ. The event will cover the industry's major issues as well as the prevailing and upcoming trends in regulations, space use, budgeting, and technology implementation. Through panel discussions and peer-to-peer networking opportunities, the attendees will gather expert insights on how these factors will affect the development, operation, investment and design of healthcare real estate. Also, be sure to get your nomination in for our healthcare influencer and senior housing influencer feature. Click here to register and view the agenda.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
