Joint Venture Acquires Four Arizona Facilities Using $48.5M GE Capital Loan

by Jeff Shaw

BETHESDA, Md. — GE Capital’s Healthcare Financial Services (HFS) has provided $48.5 million in financing to a joint venture of LTC Properties Inc., Silverstone Healthcare Real Estate and Senior Lifestyle Corp.

The funds were used for the acquisition of four seniors housing facilities in Arizona owned by LSREF Sun Devil REIT Inc. The financing is in addition to $46 million of initial funding already provided by HFS.

Three of the buildings acquired are part of the Amethyst Campus in Peoria, Ariz., which consists of independent living, assisted living and memory care units. The other property is Emerald Springs, a 148-unit assisted living and memory care facility in Yuma, Ariz.

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