Newsroom

Toronto, Ont. – Sencap Partners Inc. (Sencap) is pleased to announce the closing of a $105.2-million senior-secured credit facility for Shalom Manor Long Term Care Home’s (Shalom Manor) Hamilton Campus of Care. This project, supported by the Ontario Ministry of Long-Term Care, involves the development and construction of a 260-bed long-term care (LTC) home in Hamilton, Ont.

“This project fulfills one of the mandates from our founding in expanding services for elders to multiple campuses in Hamilton and Niagara. The success of this project would not have been possible without the Sencap team. Their relationships in the lending market helped us find financing that was the right fit for our project and organization. Throughout the process, we were appreciative of their ability to help us meet tight deadlines and the responsiveness in adjusting models that ensured the best outcomes for lending,” said Jonathan Zwier, director of finance and administration at Shalom Manor.

The Central region of Ontario has an average wait time of 225 days for admission to LTC homes for individuals transitioning from the community and 97 days for those transitioning from the hospital.¹ Shalom Manor’s Hamilton Campus of Care development will help reduce these wait times and address the shortage of LTC beds in the Hamilton area. Sencap is honoured to have served as the exclusive financial advisor and debt arranger to Shalom Manor.

About Shalom Manor Long Term Care Home

Shalom Manor is an experienced not-for-profit operator of LTC and retirement beds. It has been serving elders in the Grimsby area for over 45 years, and its leadership and supporting community are looking forward to expanding its services for Dutch Christian elders in Hamilton as envisioned by those who founded its organization.

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