Red Capital Partners LLC said Monday it provided a $36.5 million loan to Investment360 for its buy of James Square Health and Rehabilitation Centre. Syracuse, New York-based James Square is a 440-bed skilled nursing facility. Red Capital is a subsidiary of ORIX USA.
Columbus, OH (PRWEB) July 20, 2015
Red Capital Partners, LLC, the proprietary debt and equity banking arm of comprehensive capital provider RED CAPITAL GROUP, LLC, recently completed a $36.5 million balance sheet acquisition loan to Investment360 for the acquisition of James Square Health and Rehabilitation Centre in Syracuse, NY. Red Capital Partners provided a high-leverage bridge loan to an FHA refinance in this unique transaction.
James Square is a 440-bed skilled nursing facility located in Syracuse, NY. Excelerate Healthcare, will operate the facility, as part of a long-term lease agreement with Investment360. Investment360 gained control of the facility several years ago and brought in Excelerate Healthcare to improve census and quality mix prior to taking ownership. As a result, RED was able to provide substantial loan proceeds at a very competitive spread.
Under new ownership, the facility is poised to become a market leader. The facility will undergo important changes that will not only enhance patient care, but allow it to address the community’s critical need for facilities servicing a higher acuity population.
Mr. Friedman, of Investment360, has shared, “Certainty of execution was critically important to me on this transaction, and RED delivered exceptional execution at an attractive rate.”
Kathryn Burton Gray, Senior Managing Director for RED said, “We are thrilled to be working with Investment360 on this important transaction. RED looks forward to building on its relationship and to financing their continued growth over the coming years.”
James Scribner, Managing Director for RED said, “Investment360 and Excelerate will bring needed changes to what has historically been a challenged facility in the Syracuse community. They have already improved the facility’s reputation and care. RED is honored to be financing this project.”
About RED CAPITAL GROUP, LLC
Recognized for its industry expertise, innovative and comprehensive structures, and consistently high rankings, RED CAPITAL GROUP, LLC has provided over $57.5 billion of integrated debt and equity capital since 1990 to the seniors housing and health care, multifamily, affordable, and student housing industries through three operating companies.
RED Mortgage Capital, LLC is a leading Fannie Mae DUS® and MAP- and Lean-approved FHA lender with a mortgage servicing portfolio exceeding $16 billion. RED Capital Markets, LLC (MEMBER FINRA/SIPC) is a leader in the distribution of Fannie Mae and Ginnie Mae Project MBS, and provides structuring, underwriting, placement, and advisory services for tax-exempt and taxable housing and health care bonds.
RED Capital Partners, LLC provides proprietary debt and equity solutions, and asset management in a range of forms, including subordinated gap and bridge loans. RED CAPITAL GROUP, LLC is a subsidiary of ORIX USA Corporation. For more information on RED CAPITAL GROUP, LLC, visit http://www.redcapitalgroup.com.
About ORIX USA Corporation
ORIX USA Corporation is a diversified financial company with approximately $6 billion of assets in sectors spanning commercial finance, venture finance, commercial real estate and public finance, as well as $25 billion of assets managed for others. Operating subsidiaries include Houlihan Lokey, RED CAPITAL GROUP and Mariner Investment Group. Headquartered in Dallas, Texas, ORIX USA and its subsidiaries have more than 1,400 employees and offices in major cities including New York, Los Angeles, London and Tokyo.
ORIX USA is a wholly-owned subsidiary of ORIX Corporation, a Tokyo-based, publicly owned international financial services company with operations in 35 countries worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). For more information on ORIX USA, visit http://www.orix.com.
DUS® is a registered trademark of Fannie Mae