Capital One provided a bridge loan to Bridge Investment Group Partners for the acquisition of an eight-asset, 1,359-unit seniors housing portfolio from Somerby Senior Living.
Somerby, an affiliate of Dominion Partners, operates senior housing communities in Alabama, Florida, Georgia, South Carolina and Tennessee. Somerby will continue to manage them after the acquisition.
“This financing transaction underscores Capital One’s ability to provide well-executed, timely, borrower-friendly capital solutions to complex funding situations,” said Robb Chapin, CEO of Bridge Seniors Housing and Medical Properties.
“We demonstrated to Bridge that we had the expertise to meet its deadlines and provide a flexible structure that would support its business plan,” said Kristen Ahrens, managing director of Capital One Healthcare.
Bridge Seniors Housing Fund Manager invests in seniors housing and medical property assets across its family of funds, including seeking and investing in joint ventures and separately managed accounts.
