Capital One Closes $65 Million Loan to Holiday Retirement to Recapitalize Two Senior Housing Facilities
Capital One announced today 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 into 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.”
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. Additional information can be found at capital.one/healthcare.
About Holiday Retirement
Holiday Retirement is in the business of helping older people live better. Holiday invented the concept of independent senior living in 1971, and is the largest provider in North America today with more than 260 retirement communities and over 30,000 residents throughout the U.S. For more information about Holiday Retirement, call 800-322-0999, visit www.holidaytouch.com or follow the brand on Facebook @HolidayRetirement.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $250.8 billion in deposits and $362.9 billion in total assets as of March 31, 2018. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.
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