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December 22, 2023

Sencap Closes Belleville LTC Project Financing

Sencap Closes Neighbourhood Better Living’s $56.9M Project Financing for Its Belleville Long-Term Care Home Development

A rendering of Belleville Inc. LTC home

Toronto, Ont. – Sencap Partners Inc. (Sencap) is pleased to have acted as exclusive financial advisor and debt arranger for the $56.9-million senior-secured private placement project financing of Neighbourhood Better Living’s (NBL) Belleville long-term care (LTC) home. Supported by the Ontario Ministry of Long-Term Care, this project involves the development and construction of a 160-bed LTC home facility in Belleville, Ont.

Admission to LTC homes in the Eastern region of Ontario has an average wait time of 252 days for individuals transitioning from the community.1 NBL’s first LTC home development in Ontario will contribute to the reduction of LTC bed waitlist times for seniors in the Belleville community and surrounding area. Sencap is honoured to have been part of this significant project for both NBL and the City of Belleville.

About Neighbourhood Better Living

NBL is a newly incorporated company formed to provide quality housing and support services for seniors, including personal care, nursing and medical assistance. NBL is part of the Clearway Group — a well-established and experienced group of civil, infrastructure and residential construction firms with over five decades of development experience.

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[1] Data source: from Health Quality Ontario, provided by the Ministry of Health.

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About Sencap Partners, Inc. With offices in Toronto, Oakville and Vancouver, Sencap is a privately owned and independent financial services provider, offering customized debt financing solutions to the Canadian infrastructure and seniors housing sectors. Sencap acts as an advisor, arranger and administrative agent — providing its clients with end-to-end project financing solutions for development and construction, acquisitions, redevelopments and refinancings. With over 40 years of banking and capital markets experience, Sencap’s principals have structured and arranged over $20 billion in complex project financings, advised on over 50 public-private partnership (P3) infrastructure projects, and financed over 6,000 long-term care beds across Canada.

To learn more about Sencap Partners Inc., connect with us on LinkedIn and X.

Visit our website: www.sencappartners.ca

© Sencap Partners Inc., an affiliated entity of Sigma Capital Partners Inc.

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Sencap Partners Inc.
55 York Street, Suite 900
Toronto, Ontario M5J 1R7
647.498.4549

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