Alterra reports $230M in new financing.Brookfield, Wisconsin-based Alterra Healthcare Corporation has arranged $230 million of financing to fund its continuing development and acquisition of assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. residences. Alterra received commitments from a syndicate Syndicate organized crime unit throughout major cities of the United States. [Am. Hist.: NCE, 2018] See : Gangsterism of banks led by Houston-based Bank United for an $80 million revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. . Firstar Bank of Milwaukee NA and AmSouth Bank joined Bank United in the syndication See syndication format. . GuarantyBank, a subsidiary of Temple-Inland Inc., is providing Alterra a $50 million development facility to finance new construction projects and recently completed residences. Alterra also entered into a letter of intent with National Health Investors Inc., a real estate investment trust, which is considering up to $100 million of sale/leaseback transactions on developed or acquired ALFs. Initial closings of about $31.6 million under the letter of intent occurred in December 1998. |
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