Capital One Bank Closes $52M Refinance of Conn. CCRC

by Jeff Shaw

NORTH BRANFORD, Conn. — Capital One served as lead and administrative agent for a $52 million senior secured term loan to refinance Evergreen Woods, a continuing care retirement community in North Branford, Conn.

The facility is jointly owned by The Shelter Group, a privately held real estate development and property management company specializing in multifamily and senior living communities, and affiliates of Herbert J. Sims & Co., an investment bank focused primarily on the senior housing industry. First Niagara participated in the loan.

Located approximately nine miles from New Haven, Evergreen Woods consists of 227 independent living units, 22 assisted living units, and 50 skilled nursing beds. This facility is an entrance-fee-based community that offers residents a full continuum of care. Evergreen Woods is managed by Brightview Senior Living, an affiliate of The Shelter Group with 30 senior housing facilities throughout the Northeast and Mid-Atlantic.

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