Name
Arch Corporation long-term care homes
Sector
Long-term Care
Location
Amherstburg, Lancaster, Prescott, and Tay Valley Township, Ontario
Participation
Senior loan of $132.7 million to fund construction costs across the four homes, subject to customary financial terms and conditions
Partners
Arch Corporation and Manulife Financial, in collaboration with the Ministry of Long-Term Care
The Building Ontario Fund has completed a transaction, together with Manulife, to finance four redeveloped and expanded Arch long-term care homes in small communities across the province.
A total of 576 beds, including 276 new and 300 redeveloped, will be created from this investment, providing more residents the opportunity to live in a supportive, modern environment close to their loved ones.
The four long-term care homes were assessed as a group to balance their overall risk and financial profile, enabling the smaller homes, in Lancaster and Prescott, to be feasible to develop. Based on this innovative bundling approach, the Building Ontario Fund was able to bring in respected institutional capital to finance high-priority infrastructure projects that would not otherwise proceed.
![Wellington House - Prescott[4703]](https://buildingonfund.ca/wp-content/uploads/Wellington-House-Prescott4703.jpg "Wellington House – Prescott[4703]")
across four communities
senior loan contributed by BOF as part of $265.5 million in debt financing
