SunTrust Provides $29.5M Acquisition Financing for 10-Property Portfolio in Southeast

MEMPHIS, Tenn. — SunTrust Banks Inc. (NYSE: STI) has provided $29.5 million in financing to support Hickory Senior Living’s acquisition of The Cottages, a 10-facility seniors housing portfolio. 

The transaction will more than double Hickory’s owned and managed portfolio, adding eight facilities in Alabama, one in Tennessee and one in Mississippi.

Designed to resemble single-family homes, The Cottages features assisted living, memory care and independent living tailored to meet the individual needs of each resident.

Headquartered in Memphis, Hickory Senior Living owns and operates several personal care homes and assisted living facilities in the Southeast.