ORIX Corporation USA Completes $44.8 Million Bond Financing Funding for Metro-Minneapolis Senior Housing Communities
14 Abril 2021 - 8:00AM
Business Wire
ORIX Corporation USA (ORIX USA), the Americas business of the
international financial services group ORIX Corporation (ORIX),
announced today that its Municipal and Infrastructure Finance
business recently completed a $44.8 million tax-exempt and taxable
bond financing to fund the acquisition of five senior 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.
“This transaction demonstrates our flexible debt, mezzanine and
equity capital solutions that can be deployed in a variety of
public and private financial transactions in the municipal and
infrastructure industries,” said Rob Wetzler, Managing Director and
Head of ORIX USA’s Municipal and Infrastructure Finance business.
“Coventry and these facilities have an excellent track record
providing senior care across the Minneapolis metro area. We look
forward to continuing our partnership with Coventry and assisting
them with future acquisitions.”
Coventry is a fully integrated real estate development company
that develops and operates a portfolio of high-acuity senior
housing communities located throughout Minnesota. Coventry
communities focus on providing care for high-acuity care residents
who do not need skilled nursing care, but require more assistance
than larger senior assisted living facilities may be able to
provide.
“We are pleased to be working with a partner like ORIX USA that
provides flexible capital solutions and we know we have benefitted
from the team’s expertise,” said Tim Eppler, Chief Executive
Officer of Coventry.
ORIX Corporation USA (ORIX USA)
Since 1981, ORIX USA has provided innovative capital solutions
that clients need to propel their business to the next level. With
a focus on merchant banking, commercial finance, and asset
management, ORIX USA and its subsidiaries — Boston Financial
Investment Management, Lument (the combined company of Hunt Real
Estate Capital, Lancaster Pollard, and RED Capital), NXT Capital,
RB Capital, Signal Peak Capital Management and ORIX Capital
Partners—include a team of more than 1,300 employees spanning more
than 50 offices across the US and Brazil.
A business unit of ORIX USA, the Municipal and Infrastructure
Finance Group is an innovative and flexible investor with the
ability to provide debt, mezzanine, and equity capital to a variety
of public and private financings. The Municipal and Infrastructure
strategy focuses on investing in both taxable and tax-exempt
issuers and projects. The team’s investment portfolio includes
transactions in a wide range of industries, including healthcare,
senior housing, education, infrastructure, and land
development.
ORIX USA and its family of companies have $87 billion of assets
under management, administration, and servicing (including $10
billion held by the Company and its subsidiaries) as of December
2020. Its parent company, ORIX Corporation, is a publicly owned
international financial services company with operations in 37
countries and regions worldwide. ORIX Corporation is listed on the
Tokyo Stock Exchange (8591) and New York Stock Exchange (IX). For
more information, visit orix.com.
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ORIX Corporation USA Rohini Pragasam Rohini.Pragasam@orix.com
646.319.3680
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