A number of senior living facilities built in the late 2000’s have struggled financially due to the hangover from the economic pressures of the Great Recession. One such organization, a well-regarded not-for-profit senior living provider in the Southeast, engaged Hamlin Capital Advisors to provide a thoughtful and careful assessment of the true debt capacity of one of its communities versus the actual amount of its outstanding debt.
Approximately 120 days after contacting the bank lender, this senior living provider closed on a refinancing with a new 30-year tax-exempt bond. The restructuring resulted in a reduction of debt obligations of approximately 35%, along with funding for a significant capital expenditure reserve for future needs, and a new cottage construction program to jumpstart the IL marketing program. The ownership, governance, and management of the organization were unchanged, and the residents and mission were protected for the future.
Restructuring Advisory Services
“Our organization and its current and future residents look forward to a bright future with a long-term capital partner committed to our success.”*
CEO
*Testimonials provided may not be representative of the experience of other clients. Such testimonials are no guarantee of future success or performance.
