ORIX Corporation USA Completes $44.8 Million Bond Financing Funding for Metro-Minneapolis Senior Housing Communities

Rhea-AI Summary

ORIX Corporation USA has successfully completed $44.8 million in bond financing to acquire five senior housing communities in the Minneapolis area, totaling 153 assisted living and memory care units. This financing showcases ORIX's capability in providing flexible capital solutions for public and private transactions in the municipal and infrastructure sectors. Coventry Properties, a partner in this transaction, has a strong track record in senior care. ORIX USA manages $87 billion in assets, reinforcing its position in the financial services industry.

Positive

• Completed $44.8 million bond financing to acquire five senior housing communities.
• Demonstrates flexibility in providing debt and equity capital solutions.

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• None.

ORIX Corporation USA (ORIX USA), the Americas business of the international financial services group ORIX Corporation (ORIX), announced today that its Municipal and Infrastructure Finance business recently completed a $44.8 million tax-exempt and taxable bond financing to fund the acquisition of five senior housing communities that are part of the Coventry Properties of Minnesota. The communities are located within the greater Minneapolis area and total 153 assisted living and memory care units.

“This transaction demonstrates our flexible debt, mezzanine and equity capital solutions that can be deployed in a variety of public and private financial transactions in the municipal and infrastructure industries,” said Rob Wetzler, Managing Director and Head of ORIX USA’s Municipal and Infrastructure Finance business. “Coventry and these facilities have an excellent track record providing senior care across the Minneapolis metro area. We look forward to continuing our partnership with Coventry and assisting them with future acquisitions.”

Coventry is a fully integrated real estate development company that develops and operates a portfolio of high-acuity senior housing communities located throughout Minnesota. Coventry communities focus on providing care for high-acuity care residents who do not need skilled nursing care, but require more assistance than larger senior assisted living facilities may be able to provide.

“We are pleased to be working with a partner like ORIX USA that provides flexible capital solutions and we know we have benefitted from the team’s expertise,” said Tim Eppler, Chief Executive Officer of Coventry.

ORIX Corporation USA (ORIX USA)

Since 1981, ORIX USA has provided innovative capital solutions that clients need to propel their business to the next level. With a focus on merchant banking, commercial finance, and asset management, ORIX USA and its subsidiaries — Boston Financial Investment Management, Lument (the combined company of Hunt Real Estate Capital, Lancaster Pollard, and RED Capital), NXT Capital, RB Capital, Signal Peak Capital Management and ORIX Capital Partners—include a team of more than 1,300 employees spanning more than 50 offices across the US and Brazil.

A business unit of ORIX USA, the Municipal and Infrastructure Finance Group is an innovative and flexible investor with the ability to provide debt, mezzanine, and equity capital to a variety of public and private financings. The Municipal and Infrastructure strategy focuses on investing in both taxable and tax-exempt issuers and projects. The team’s investment portfolio includes transactions in a wide range of industries, including healthcare, senior housing, education, infrastructure, and land development.

ORIX USA and its family of companies have $87 billion of assets under management, administration, and servicing (including $10 billion held by the Company and its subsidiaries) as of December 2020. Its parent company, ORIX Corporation, is a publicly owned international financial services company with operations in 37 countries and regions worldwide. ORIX Corporation is listed on the Tokyo Stock Exchange (8591) and New York Stock Exchange (IX). For more information, visit orix.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210414005122/en/

FAQ

What is the recent bond financing amount completed by ORIX USA?

ORIX USA completed a bond financing of $44.8 million.

What is the purpose of the bond financing announced by ORIX USA?

The financing is to fund the acquisition of five senior housing communities in Minneapolis.

How many assisted living and memory care units are included in the acquisition?

The acquisition includes a total of 153 assisted living and memory care units.

What company partnered with ORIX USA for the senior housing acquisition?

Coventry Properties partnered with ORIX USA for the acquisition.

What does ORIX USA specialize in within the financial services sector?

ORIX USA specializes in providing innovative capital solutions in merchant banking, commercial finance, and asset management.

As of December 2020, what are the total assets managed by ORIX USA?

ORIX USA manages $87 billion in assets.

On which stock exchanges is ORIX Corporation listed?

ORIX Corporation is listed on the Tokyo Stock Exchange and the New York Stock Exchange (symbol: IX).