Firm has refinanced 1,048 units for $170 million in new debt this year, strengthening its financial position and reaffirming its commitment to the senior living sector
Caddis recently recapitalized six Heartis senior living communities, including the 108-unit Heartis Village Peoria in Illinois (top) and the 95-unit Heartis Waco in Texas (bottom). This is the company’s second Heartis recapitalization of the year. (Photos courtesy of Caddis)
You are viewing: Who Owns Heartis Senior Living
DALLAS, Nov. 8, 2017 – Caddis, a national healthcare real estate firm headquartered in Dallas, announced that it recently refinanced a six-property Heartis® senior living portfolio of 642 assisted living and memory care units for a total of $108 million in debt originated by Key Bank.
This is Caddis’ second Heartis community portfolio recapitalization this year. The two refinancings represent a grand total of 1,048 units and $170 million in new debt. All of the properties are in Texas, except for the 108-unit Heartis Peoria in Illinois, and all feature assisted living and memory care apartments, except for Heartis Clear Lake which also offers independent living apartments and Conroe which offers only memory care units.
Caddis CEO Jason L. Signor said the recapitalizations provide many benefits. “These transactions showcase Caddis’ dedication and commitment to the senior living sector. They also tie into our long-term plans to continue expanding our senior living ownership and development activities throughout the country,” says Mr. Signor.
Jud Jacobs, Caddis Executive Vice President of Development and Partner, notes, “From a practical standpoint, these recapitalizations reduce Caddis’ debt, outstanding obligations and risk exposure. They also allow us to pay off current lenders and obtain additional loans so we can actively pursue more development projects. This ensures that we can grow our Heartis senior living network now and into the future.”
The recent recapitalization includes the following Heartis communities:
Name No. of Units Square Footage Date Completed
Heartis Arlington 89 66,532 Fall 2016
Read more : Who Lives On Lake Minnetonka
Heartis Clear Lake 167 157,512 Winter 2017
Heartis Longview 74 51,000 Acquired summer 2015
Heartis Peoria 108 97,471 Winter 2017
Heartis San Antonio 109 86,666 Winter 2017
Heartis Waco 95 70,750 Summer 2016
Earlier in the year, Caddis recapitalized the following communities:
Name No. of Units Square Footage Date Completed
Heartis Amarillo 89 63,671 Winter 2015
Heartis Cleburne 89 61,125 Fall 2015
Read more : Who Makes Misty Harbor Boats
Heartis Conroe 50 32,557 Fall 2013
Heartis Cypress 89 63,094 Spring 2016
Heartis Eagle Mountain 89 61,125 Summer 2016
Heartis communities offer spacious apartments and a wide variety of amenities, including beautifully landscaped grounds and gardens; courtyards; large dining rooms serving delicious, chef-prepared meals; relaxing common areas; activity rooms; regularly scheduled social and recreational activities; and Class A finishes. Special services include nurse-supervised staff; 24-hour emergency call system; housekeeping and laundry services; and assistance with the activities of daily living.
Grant Saunders and Jay Jordan of KeyBank’s Healthcare Group arranged the financing for both trasactions.
About Heartis
Caddis, a national healthcare real estate firm based in Dallas, launched the Heartis® senior living brand in early 2013 to reflect its mission of helping seniors live life to the fullest. Caddis has opened or is currently constructing Heartis communities in Suwanee and Fayetteville, Ga., Orland Park and Peoria, Ill., Milwaukee and Brookfield, Wis. and in the Texas cities of Arlington, Bedford, Conroe, Fort Worth, Cleburne, Clear Lake, Cypress, Longview, Amarillo, San Antonio and Waco. Heartis communities provide high-quality, high-value services, programming and amenities; on-site personalized support; and inviting, caring home-like environments. For more information, please visit www.Heartis.com.
About Caddis
Caddis™ Partners, LLC is a national real estate development, management and investment firm focused exclusively on healthcare real estate. The firm is comprised of experienced real estate professionals across various disciplines that provide clients with expertise in development, acquisition, financing, construction management, leasing, tenant representation, property management and accounting. Since its inception, Caddis has developed or acquired over three million square feet of medical assets valued in excess of $1 billion. In its annual Construction and Design Survey, Modern Healthcare magazine recognized Caddis as the 9th largest healthcare development company in the United States. For more information about Caddis, please visit www.Caddis.com.
Source: https://t-tees.com
Category: WHO
