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Chicago & Midwest   /   April 15, 2021

Paul Bubny
By: Paul Bubny

ORIX USA Provides Funding for Twin Cities Seniors Housing Acquisition

The municipal and infrastructure finance business of ORIX Corporation USA  recently completed a $44.8-million tax-exempt and taxable bond financing to fund the acquisition of five seniors housing communities by Coventry Properties of Minnesota. The communities are located within the greater Minneapolis area and total 153 assisted living and memory care units.

“Coventry and these facilities have an excellent track record providing senior care across the Minneapolis metro area,” said Rob Wetzler, managing director and head of ORIX USA’s municipal and infrastructure finance business. 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. These communities are geared toward residents who don’t need skilled nursing care, but require more assistance than larger assisted living facilities may be able to provide.

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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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