Printer Friendly
The Free Library
23,396,934 articles and books


ARC gets $200M in new financing.

Nashville-based American Retirement Corporation, a provider of senior living and health care services, has arranged $200 million in financing to fund its growth. The first part of the financing package is a $75 million commitment for a 3-year revolving credit facility from Bank United as agent and SouthTrust Bank of Alabama as co-agent. Another $75 million is to be syndicated. The line of credit will fund development, acquisitions, or expansions of senior living communities.

Secondly, Health Care REIT Inc. has committed $50 million for developing and acquiring ALFs and CCRCs.

American Retirement currently operates 46 senior living communities in 16 states with capacity for about 12,900 residents. It is developing or constructing 29 communities and expanding 9 existing communities, for an aggregate additional capacity of about 3,500 residents.
COPYRIGHT 1999 Non Profit Times Publishing Group
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Author:ADLER, SAM
Publication:Contemporary Long Term Care
Article Type:Brief Article
Geographic Code:1USA
Date:Aug 1, 1999
Words:130
Previous Article:Derma Sciences buys Genetic Laboratories.
Next Article:Alterra reports $230M in new financing.
Topics:



Related Articles
Indonesia - The Geology.
KUWAIT - Financing.
QATAR - Qatar Steel Co.
ARAB-US RELATIONS - Apr. 27 - Aid Granted To Ease Water Problem.
A new program takes flight. (Managing Editors Desk).
Running wild. (Here Below).
$200M mortgage deal inked.
ARCS closes $15m finance deal.
ARCS' $32m apartment financing.
YEMEN - The Oil Refining Sector.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters