DALLAS–(BUSINESS WIRE)–Preston Hollow Capital, an independent specialty finance company, announced today that it has completed a $14 million bond financing with the Medical Clinic Board of the City of Hoover, Alabama to facilitate Omega Communities’ purchase and renovation of the Riverchase Village Senior Living Community located in Hoover, Alabama, a suburb of Birmingham. 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.
“We expect continued growth in the senior living sector as the U.S. population continues to age. Preston Hollow Capital is well-positioned to serve as a long-term capital partner to senior living developers.”
“River Highlands marks our third community that will operate under an affinity agreement with a large and dynamic community impacting church, and we believe this relationship will be a true benefit to the community’s residents,” said Pat Trammell, Jr., Chairman and CEO of Omega Communities. “Preston Hollow Capital was a great financial partner for us in this deal. Their experienced team understands senior living communities, and they’re enthusiastic about and believe in our business model, which is based upon partnerships with large, local faith-based organizations.”
“We’re pleased to partner with Omega Communities on this exciting project that is right in Omega’s backyard,” said Ramiro Albarran, managing director of Preston Hollow Capital. Launched in January 2014 by former leaders of ORIX USA Corporation, Preston Hollow Capital is an independent specialty finance company that serves as a solution provider in municipal finance. “We expect continued growth in the senior living sector as the U.S. population continues to age. Preston Hollow Capital is well-positioned to serve as a long-term capital partner to senior living developers.”
About Preston Hollow Capital
Preston Hollow Capital is an independent specialty finance company launched in January 2014 by Jim Thompson, the former longtime President and Chief Executive Officer of ORIX USA Corporation. PHC is a solution provider in municipal finance, and seeks to produce superior risk-adjusted returns across a broad spectrum of investment strategies. PHC differentiates itself with its ability to deliver capital with speed, certainty and flexibility.
Preston Hollow Capital
Greg May, 214-389-0835