NEW YORK CITY — Capital One Healthcare, a New York-based lender, has provided a $285 million bridge loan to refinance a portfolio of 13 senior living communities owned by Prime Care.
The properties total 1,081 assisted living, 301 memory care and 85 skilled nursing units located in seven states. Sunrise Senior Living manages 11 of the facilities while Harbor Retirement Associates manages two.
Prime Care has owned the facilities since they were built in the late 1990s. Prime Care and its affiliates have owned more than 50 senior living facilities generating approximately $250 million in revenue.
Specific names and locations of the properties involved in the financing were not disclosed.