Preston Hollow Provides $14M in Bond Financing for Acquisition, Renovation of Community in Alabama

by Jeff Shaw

HOOVER, Ala. — Preston Hollow Capital, a specialty finance company, has provided $14 million in bond financing for the acquisition and renovation of the Riverchase Village Senior Living Community in Hoover, a suburb of Birmingham.

Omega Communities, a developer based in nearby Homewood, is the borrower.

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.

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