ORIX Corporation USA (ORIX USA), the Americas business of the international financial services group ORIX Corporation (ORIX), announced today that its Municipal and Infrastructure Finance business completed a preferred equity investment for the construction and start-up costs of a 103-unit senior housing community in Aledo, TX. Civitas Senior Living and Journey Capital will develop the community.
Based in Fort Worth, TX, Civitas is a fully integrated developer, owner, and operator of senior housing communities across the southern United States. Civitas currently operates over 40 communities, with more than 4,500 independent living, assisted living, and memory care beds.
“ORIX USA has a long-term commitment to expanding affordable and senior housing and is pleased to partner with Civitas to provide additional senior housing in Texas,” said Rob Wetzler, Managing Director and Head of ORIX USA’s Municipal and Infrastructure Finance business.
Dallas-based Journey Capital is an asset manager focusing on senior housing development and acquisitions. The community in Aledo, one of the fastest-growing towns in the Dallas-Fort Worth Metroplex, will be Journey’s seventh senior housing investment and third development with Civitas.
“We are excited to partner with ORIX USA and Journey as we expand our vision of transforming the senior living industry in Texas and across the US,” said Jay Dempsey, Managing Partner and Co-Founder of Civitas. “ORIX USA has been a long-standing development partner providing innovative and flexible financing on several Civitas projects.”