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DALLAS, Jan 06, 2015 (BUSINESS WIRE) — Preston Hollow Capital, a diversified merchant bank, announced today that it has completed a $24.9 million bond financing for the construction of a 120-unit assisted living and memory care community in Palm Bay, Florida. The project, to be known as Riverview Senior Resort, will be a seven-story structure totaling 136,000 square feet to be constructed on an approximately 3.24 acre parcel overlooking the Indian River. This announcement was made today by Jim Thompson, the Chairman and CEO of Preston Hollow Capital. Thompson launched Preston Hollow Capital in January 2014 after serving for many years as President and CEO of ORIX USA Corporation, a non-bank financial conglomerate and U.S. subsidiary of the Tokyo-based ORIX Corporation IX, -0.09%
“Riverview is an exciting project for the City of Palm Bay, with a superb waterfront location,” Thompson said. “Our origination team worked closely with the borrower and underwriter to craft a robust transaction structure.”
“Preston Hollow Capital is committed to serving as a capital source and financial solutions provider for assisted living communities throughout the country,” said Thompson. “We have other senior living projects in our pipeline, and we expect to deploy significant additional capital in this sector in 2015.”
The City of Palm Bay, Florida first mortgage revenue bonds were underwritten by HJ Sims.
About Preston Hollow Capital and Jim Thompson
Preston Hollow Capital (“PHC”) is a diversified merchant bank launched in January 2014 by Jim Thompson, the former President and Chief Executive Officer of ORIX USA. The PHC team, comprised of former ORIX USA senior executives and employees, seeks to produce superior risk-adjusted returns across a broad spectrum of investment strategies. Mr. Thompson, along with his wife Angela, supports Dallas-area non-profits through the Jim & Angela Thompson Foundation, and STEM education initiatives through the Blue Sky Educational Foundation. He is a board member of the Dallas Urban Debate Alliance, and is a former board member of Dallas CASA, Angel Flight South Central and the AOPA Foundation.
Contact Preston Hollow Capital at www.phcllc.com or 214-389-0800.
SOURCE: Preston Hollow Capital
C. Pharr & Company for PHC
Krystal Morris, 972-931-7576, ext. 355
Copyright Business Wire 2015