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SLTC and Sabal raise $50M to upgrade two senior living communities
The financing splits by project, with Protective Life providing debt for one community and Berkadia funding the other, and SLTC and Sabal plan capital expenditures including technology and operations improvements.
Senior Living Transformation Company, SLTC, and Sabal Investment Holdings secured $50 million to acquire and improve two senior living communities focused on assisted living and memory care, according to Commercial Observer.
The companies will pursue upgrades at Daylesford Crossing in Paoli, Pennsylvania, which has 78 units, and the Villages of Windcrest in Fredericksburg, Texas, which has 81 units. Protective Life provided debt for the Villages of Windcrest deal, while Berkadia financed the Daylesford Crossing transaction.
SLTC and Sabal said they plan multiple capital expenditures across the two assets, including efforts to improve delivery of technology and operations. They also plan to work with Juniper Communities, which will manage both facilities.
In remarks shared with the news outlet, SLTC founder Arnie Whitman characterized the acquisitions as solutions for challenged sellers in a real estate segment. Sabal managing director Tal Seder pointed to demographic tailwinds tied to the baby boomer cohort reaching age 80 in 2026 and said limited new construction has pushed the industry toward an inflection point.