MINNEAPOLIS — ORIX Corp. USA has completed a $44.8 million tax-exempt and taxable bond financing to fund the acquisition of five seniors housing communities that are part of the Coventry Properties of Minnesota. The communities are located within the greater Minneapolis area and total 153 assisted living and memory care units.
Coventry develops and operates a portfolio of high-acuity seniors housing communities located throughout Minnesota. Coventry communities focus on providing care for residents who do not need skilled nursing care, but require more assistance than larger assisted living facilities may be able to provide.
Further details on the transaction were not disclosed.