Preston Hollow Capital Finances Assisted Living Community in Kenner, Louisiana

DALLAS–(BUSINESS WIRE)–Preston
Hollow Capital
, an independent specialty finance company, announced
today that it has completed a $29.2 million senior bond financing with
the Louisiana Public Facilities Authority to fund a loan to Covington
Senior Care Services. Proceeds of the loan will fund the construction of
a new 127-unit assisted living and memory care community in Kenner,
Louisiana, a suburb of New Orleans. The project, to be known as Inspired
Living at Kenner, will be a three-story facility comprising
approximately 105,000 square feet. Project amenities are scheduled to
include a swimming pool, spa and bathing rooms, mini golf area, gazebo,
tiki hut, fire pit, reflection ponds and walking paths. Construction is
underway and is scheduled to be completed in March 2017. Validus
Senior Living
will manage the property.

“Inspired Living at Kenner will be the premier senior housing community
in its market, and we’re proud to be the main source of financing for
the project. This distinctive community is one of several being
constructed by the Inspired Living Group in collaboration with the National
Football League Alumni Association
to provide assisted living and
memory care services for former NFL players and other persons in need,”
said Ramiro Albarran, managing director of Preston Hollow Capital.
Launched in January 2014 by former leaders of ORIX
USA Corporation
Preston
Hollow Capital
 is an independent specialty finance company that
serves as a solution provider in municipal finance. “Preston Hollow has
significant expertise in senior living projects, and we expect continued
growth in this sector as the U.S. population continues to age. We can be
very creative to meet borrower financing needs and plan to be involved
as a long-term capital partner to senior living developers.”

About Preston Hollow Capital

Preston
Hollow Capital
is an independent specialty finance company launched
in January 2014 by Jim Thompson, the former longtime President and Chief
Executive Officer of ORIX
USA Corporation
. PHC is a solution provider in municipal finance,
and seeks to produce superior risk-adjusted returns across a broad
spectrum of investment strategies. PHC differentiates itself with its
ability to deliver capital with speed, certainty and flexibility.

www.phcllc.com

Contacts

Preston Hollow Capital
Greg May, 214-389-0835
gmay@phcllc.com