Validus buys Tampa community, plans more acquisitions
Validus Senior Living, based in Tampa, FL, has purchased the memory care community called Inspired Living at Tampa. Validus also is in the process of purchasing Inspired Living at Bonita Springs. That purchase should be completed by the first quarter of 2016.
The continued growth of Validus Senior Living is made possible through an additional source of capital valued up to $50 million with Hancock Bank. The five-year agreement is renewable and will be used to acquire or refinance senior living communities as part of the Validus Senior Living portfolio.
“It's our goal at Validus Senior Living to create vibrant communities with highly personalized care,” Validus Senior Living CEO Steve Benjamin said in a statement. “This new relationship with Hancock Bank allows us to accelerate our growth so we can better serve our senior population.”
In addition to acquiring the Tampa and Bonita Springs facilities, Validus also has refinanced Inspired Living at Sun City Center. All three are new developments specializing in memory care and are located in growth markets in Hillsborough and Lee counties.
Combined, the communities add an additional 190 memory care units to the Validus portfolio and will provide employment for more than 150 associates, both salaried and hourly, once the buildings are full, according to the company.