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Capital One Provides Bridge Loan for Seniors Housing Portfolio

February 19, 2019, 10:02 AM
Related: Capital One

Capital One announced that it provided a bridge loan to Bridge Investment Group Partners for the acquisition of an eight-asset, 1,359-unit seniors housing portfolio from Somerby Senior Living. Somerby, an affiliate of Dominion Partners, is a leading operator of senior housing communities. The properties are located in Alabama, Florida, Georgia, South Carolina and Tennessee, and Somerby will continue to manage them.

“This financing transaction underscores Capital One’s ability to provide well-executed, timely, borrower-friendly capital solutions to complex funding situations,” said Robb Chapin, CEO of Bridge
Seniors Housing and Medical Properties.

“We demonstrated to Bridge that we had the expertise to meet its deadlines and provide a flexible structure that would support its business plan,” said Kristen Ahrens, Managing Director of Capital One Healthcare.

Capital One Healthcare is a leading provider of financial services to the industry. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth expertise, our team of professionals creates solutions tailored to meet the needs of our customers.

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