Validus Senior Living Closes Five-year, $117.5 Million Revolving Credit Facility with SunTrust to Finance Ongoing Acquisitions

Business Wire

TAMPA, Fla.--(BUSINESS WIRE)-- Validus Senior Living, a leading Tampa-based long-term care company, today announced the closing of a $117.5 million syndicated revolving line of credit with SunTrust Robinson Humphrey. The funds are supporting the acquisitions of two new Inspired Living communities - Inspired Living at Ocoee in Florida and Inspired Living at Kenner in Louisiana - that offer both assisted living and memory care. A third community, Inspired Living at Alpharetta, in Alpharetta, Ga. is expected to close in the coming weeks. SunTrust Robinson Humphrey served as the lead arranger and bookrunner for this deal, while SunTrust Bank acted as the Lead Participant and Administrative Agent.

The two initial acquisitions will add more than 250 units to Validus’ existing portfolio in Florida and Louisiana, with further growth expected in Atlanta, Houston, and Lewisville, TX.

Through these acquisitions, the company expects to add more than 200 associates. Each future acquisition will employ an additional 100 associates.

“At Validus Senior Living, taking care of Mom and Dad is at the core of all we do,” said Steve Benjamin, CEO. “This deal furthers our growth strategy by expanding our Southeast footprint through state-of-the-art assisted living and memory care communities. It’s also validation that our hard work and clear focus is paying off,” continued Benjamin, “as evidenced by our portfolio growth, resident absorption and overall satisfaction of our residents and families.”

The notable syndication process was led by SunTrust Robinson Humphrey, in close coordination with Validus Senior Living. The five-year deal is renewable and will greatly add to the rapidly growing value of the entire Validus company, which currently includes 11 communities and four new communities in development. SunTrust also provided strategic insight to help Validus expand its portfolio through acquisition.

“SunTrust is pleased to work with Validus Senior Living to finance these new acquisitions and future expansions,” said Evelyn Lee, senior vice president of SunTrust’s Aging Services practice. “Validus shows a committed vision, offering the highest levels of care and accommodations for each resident they serve.”

SunTrust’s Aging Services practice group offers industry expertise across a wide range of sectors, including skilled nursing, assisted living, memory care and continuity of care in retirement. SunTrust currently has over $2.5 billion in credit commitments for senior care facilities as it continues to support the growth of the aging services community.

About Validus Senior Living

Validus Senior Living, a rapidly growing senior lifestyle company based in Tampa, Florida, owns and operates a continuum of leading-edge senior living communities, including independent living, assisted living and memory care. Validus merges visionary practices, state-of-the-art real estate, and progressive, personalized care plans for seniors. Validus Senior Living is an affiliate of Validus Group Partners, a private investment management firm based in Tampa. For information, call 813-330-2660 or visit http://inspiredliving.care/.

About Validus Group Partners

Validus Group Partners is a private investment firm based in Tampa, Florida. The firm and its related companies employ over 1,250 people, and focus on direct investment and growth across several industry sectors including medical devices, senior living communities, commercial real estate, financial services, and alternative investments. Affiliates of Validus Group include Carter/Validus REIT Investment Management Company, LLC, Carter Validus REIT Management Company II, LLC, Validus Senior Living, and SC Distributors. Since its inception in 2004, Validus Group and its affiliates have formed, acquired, or managed companies with assets that have grown to more than $4 billion. The company, through its subsidiary, Validus Group Properties, currently owns a portfolio of over 620,000 square-feet of flex, office, and retail space across the Southeast. They are actively seeking investment opportunities in the $5-$15 million range. CEO and Managing Partner, Mario Garcia, Jr., was born and raised in Tampa and founded Validus Group in 2004. He is also the Chairman and Founder of EMSI, a national medical device company, which he established in 1995 as a start-up business.

About SunTrust Banks, Inc.

SunTrust Banks, Inc. is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. Headquartered in Atlanta, the Company has two business segments: Consumer and Wholesale. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of September 30, 2017, SunTrust had total assets of $208 billion and total deposits of $163 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Join the movement at onUp.com.