Working together, RED Capital Partners, LLC, the
proprietary debt and equity banking arm of comprehensive capital
provider RED Capital Group, LLC, and Sentio Healthcare Properties
Inc. (Sentio) collaborated on a $41.9M loan to finance the
development of a Class A senior living community in Georgetown,
Texas, an affluent suburb approximately 30 miles north of Austin.
RED provided a $20M balance sheet loan financing, with the
balance being funded by Sentio. The project was developed and is
owned by affiliates of Life Care Services, LLC (LCS).
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Rendering of The Delaney at Georgetown
Village in Texas (Graphic: Business Wire)
Construction was nearly complete on The Delaney at Georgetown
Village, a 211-unit senior living facility consisting of 120
independent living units, 55 assisted living units and 36 memory
care units, when RED closed on the loan. The project is
beautiful and has three connected one-story and three-story
buildings with expansive common and outdoor space.
“We are encouraged by the development progress at the property,”
said Spencer Smith, SVP of Sentio Investments. “The RED team
was able to understand our goals and successfully helped structure
a loan financing that worked well for RED, Sentio, and
LCS.”
“We are very happy to be working with John Mark Ramsey and his
team at Sentio,” said Kathryn Burton Gray, Senior Managing Director
for RED. “This is the type of creative financing that allows
relationship partners to leverage off RED for the entire
capital stack— from bridge loans to permanent lending.“
“RED is very excited to have the privilege of working
with Sentio for the first time and assist with its growth, as well
as expand our relationship with LCS,” stated James Scribner,
Managing Director for RED. “We look forward to working with
both firms in the future.”
“We’ve been looking for the right situation to work with
RED, and Georgetown provided just that opportunity,” said
David Laffey, Senior Vice President/Director of LCS Real Estate.
“We greatly appreciate RED’s support of LCS’s proprietary
development strategy.”
Sentio is a public, non-listed real estate investment trust that
invests exclusively in healthcare related real estate. Sentio is
committed to growing a portfolio of properties representing a mix
of asset classes and providing geographic diversity. The current
Sentio Healthcare portfolio features 34 properties, located in 16
different states.
Based in Des Moines, Iowa, and established in 1971, LCS is a
leading provider of high-quality senior lifestyle products and
services. The LCS Family of Companies focus on strategic planning,
development, operations management, and marketing and sales
management for continuing care retirement communities and senior
living communities, home health care and companion services, senior
living community ownership, insurance, and national purchasing
consulting services. LCS is ranked as the 3rd largest senior
housing operator in the United States (ASHA 2015 Top 50 Operators),
and currently serves over 33,000 seniors in 31 states in over 130
communities.
About RED CAPITAL GROUP, LLC
Recognized for its industry expertise, innovative and
comprehensive structures, and consistently high rankings,
RED Capital Group, LLC has provided over $73 billion of
integrated debt and equity capital since 1990 to the seniors
housing and health care, multifamily, affordable, and student
housing industries through three operating companies.
RED Mortgage Capital, LLC is a leading Fannie Mae DUS®
and MAP- and Lean-approved FHA lender with a mortgage servicing
portfolio exceeding $16 billion. RED Capital Markets, LLC
(MEMBER FINRA/SIPC) is a leader in the distribution of Fannie Mae
and Ginnie Mae Project MBS, and provides structuring, underwriting,
placement, and advisory services for tax-exempt and taxable housing
and health care bonds.
RED Capital Partners, LLC provides proprietary debt and
equity solutions, and asset management in a range of forms,
including subordinated gap and bridge loans. RED Capital
Group, LLC is a subsidiary of ORIX USA Corporation. For more
information on RED Capital Group, LLC, visit
www.redcapitalgroup.com.
About ORIX USA Corporation
ORIX USA provides innovative capital solutions that clients need
to propel their business to the next level. Based in Dallas, ORIX
USA has a team of more than 600 employees spanning nearly 20
offices across the U.S. and Brazil. ORIX USA and its family of
companies offer investment capital and asset management services to
clients in the corporate, real estate, municipal and energy
sectors, while holding $6 billion of assets and managing an
additional $29 billion, approximately. Its parent company, ORIX
Corporation, is a Tokyo-based, publicly owned international
financial services company with operations in 37 countries and
regions worldwide. ORIX Corporation is listed on the Tokyo (8591)
and New York Stock Exchanges (IX). For more information on ORIX
USA, visit www.orix.com.
DUS® is a registered trademark of Fannie
Mae
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version on businesswire.com: http://www.businesswire.com/news/home/20161108005984/en/
RED Capital Group, LLCLisalynne Quinn,
+1-469-385-1434Director of Marketingllquinn@redcapitalgroup.com
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