GE Healthcare Financial Services Finalizes

GE Healthcare Financial Services continues to show its commitment to the senior housing industry with a $207 million first mortgage for the Atria Senior Living Group. Louisville-based Atria – the eighth largest provider of retirement and assisted-living services in the United States – owns and operates 124 communities in 27 states.

Leveraging its senior housing expertise, GE Healthcare Financial Services tailored a flexible financing agreement to meet Atria's current and future financing needs as well as meet structure needs for the portfolio. The structure works well for the stabilized properties in the portfolio, as well as those with upside potential, and includes both 10-year fixed rate and a 5-year floating rate pools. The floating rate pool also allows Atria to make $32 million in capital improvements to the properties in that pool.

“We brought GE an extremely complex situation and they gave us a very smart solution. GE has become much more than a lender to us. They have become a valued financing partner,” said John Moore of Atria Senior Living Group. “GE listened to our needs and delivered a financing solution that complements our strategy. They have certainly become our first call when we have an important financing need.”

GE Healthcare Financial Services, a leader in senior housing lending, works with seven of the 10 largest assisted living providers, as ranked by the April 2007 edition of Assisted Living Executive magazine, including Sunrise, Brookdale, Emeritus, Sunwest, and Atria.

“Atria is a long-term customer who has demonstrated a very real commitment to overall quality. We see this in how they manage their financing relationships and in how they operate their business and care for their residents. GE Healthcare Financial Services is committed to providing customers like Atria with financial solutions that help them achieve their business objectives,” said Kristen Ahrens, senior vice president of sales in real estate for GE Healthcare Financial Services. “We take a creative, client-focused approach in our work with each customer that’s backed by financial strength and a commitment to the senior housing market.”

About GE Healthcare Financial Services

GE Healthcare Financial Services is a provider of capital, financial solutions, and related services for the global healthcare market. With over $16 billion of capital committed to the healthcare industry, GE Healthcare Financial Services offers a full range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physicians’ practices and life sciences, GE Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit http://www.gehealthcarefinance.com.