Preston Hollow Capital Finances Renovation of Assisted Living Community in Birmingham, Alabama Suburb
DALLAS–(BUSINESS WIRE)–Preston
Hollow Capital, an independent specialty finance company, announced
today that it has completed a $14 million bond financing with the
Medical Clinic Board of the City of Hoover, Alabama to facilitate Omega
Communities’ purchase and renovation of the Riverchase Village
Senior Living Community located in Hoover, Alabama, a suburb of
Birmingham. The project, to be known as River Highlands, will result in
a 120-unit facility comprising approximately 90,000 square feet.
Birmingham-based principals with Greenbrier Senior Management will
manage the project.
“River Highlands marks our third community that will operate under an
affinity agreement with a large and dynamic community impacting church,
and we believe this relationship will be a true benefit to the
community’s residents,” said Pat Trammell, Jr., Chairman and CEO of Omega
Communities. “Preston Hollow Capital was a great financial partner
for us in this deal. Their experienced team understands senior living
communities, and they’re enthusiastic about and believe in our business
model, which is based upon partnerships with large, local faith-based
organizations.”
“We’re pleased to partner with Omega Communities on this exciting
project that is right in Omega’s backyard,” 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. “We expect continued
growth in the senior living sector as the U.S. population continues to
age. Preston Hollow Capital is well-positioned to serve 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.
Contacts
Preston Hollow Capital
Greg May, 214-389-0835
gmay@phcllc.com
