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Capital One Closes $65MM Recap for Two Senior Housing Facilities

June 21, 2018, 07:07 AM
Filed Under: Healthcare

Capital One announced that it provided a $65 million adjustable-rate loan to Holiday Retirement to recapitalize two senior housing facilities that it owns and operates. Located in Cincinnati, Ohio, and Austin, Texas, the properties comprise 412 units, of which 379 are independent living and 33 are assisted living.

“Capital One has a longstanding relationship with the Holiday team,” said Kristen Ahrens, Managing Director, Capital One Healthcare. “For this transaction, we created a flexible structure that gives Holiday the potential to fold additional assets in to the loan as needed.”

New England Club in Cincinnati is a 253-unit independent living community with a wing of 12 assisted living units operated by Superior Home Care. Built in 1989, Renaissance Austin has 159 independent and assisted living units.

“We appreciate the partnership we have with Capital One and their expertise in the senior housing industry,” said Tyler Nelson, Holiday Retirement’s CFO. “This transaction simplified the financing process, saving us time and money by giving us the option to add other assets to the loan in the future.”

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