Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of construction and term financing of $27.24 million for Henley Place Ltd, a 192-bed Long Term Care facility in London, Ontario. The financing for the project was provided by The Great West Life Assurance Company and The Stonebridge Infrastructure Debt Fund 1 L.P.
The construction of the project started in September 2012 and occupancy is targeted to commence in November 2013.
Partner & Co-CEO of Stonebridge, Bob Colliver, stated: “This is the third Long Term Care transaction we have arranged for the Ram-land Group of Companies and we appreciate the continued confidence they have shown in our ability to deliver high quality and competitive financing solutions. Since 1998 Stonebridge has been a leader in Long Term Care financing in Ontario and we are proud to be part of the Henley Place project, bringing quality care to seniors and their families in the London area.
Matthew Melchior, President of Primacare Living Solutions Inc. stated: “We are very pleased to have Stonebridge as our financial partner for the Henley Place project – a 192 bed Long Term Care residence that will provide premier quality seniors accommodation and care for residents of London and the surrounding community. Primacare’s management philosophy is people-focused quality care. Our long term care homes promote the dignity, independence and respect of our residents, while providing a safe, supportive and opportunity-rich environment for our staff.”
Primacare Living Solutions Inc. is a member of the Ram-land Group of Companies – a family owned enterprise participating in Seniors Housing options for Southern Ontario. Primacare’s mission is to provide residents and staff with an unparalleled long term care experience that is people-focused and adheres to the highest standards in quality care.
Stonebridge Financial Corporation is a specialized financial services company with a proven reputation and expertise in structuring financings for syndication in the Canadian institutional marketplace. Stonebridge prides itself on providing project and structured debt financing, with a focus in the energy, infrastructure, and healthcare sectors.