Capital One Bank has served as purchaser and placement agent of a $24 million private taxable revenue bond to affiliates of Revera Inc.
The revenue bonds are secured by mortgages on seven assisted living facilities and one independent living campus in Oregon. Proceeds will be used to refinance outstanding bonds, fund new capital improvements, repay capital improvement loans and fund a debt service reserve.
Revera operates more than 500 retirement communities, long-term care homes, skilled nursing facilities, and home health branches in the United States and Canada.
