Complementary businesses are the foundation for building U.S. housing
DALLAS--(BUSINESS WIRE)--Sep. 13, 2017--
USA (ORIX), a division of leading international financial services
Corporation, announced today the acquisition of Lancaster Pollard
Holdings LLC (“Lancaster Pollard”). Based in Columbus, Ohio, Lancaster
Pollard is a provider of integrated investment banking, mortgage
banking, balance sheet lending and private equity services focused on
the full continuum of senior living and healthcare clients. Lancaster
Pollard is also a leading FHA/HUD Lean senior living lender. After
signing a definitive agreement to acquire Lancaster Pollard on June 9,
2017, ORIX completed the transaction on Sept. 12, 2017.
“As a continued commitment to building American infrastructure, ORIX has
made another investment in a high-value brand serving the senior living
and healthcare sectors,” said Hideto Nishitani, ORIX USA’s Chairman,
President and CEO. “The acquisition of Lancaster Pollard is a natural
extension of ORIX’s successful strategy of acquiring leaders in
affordable, seniors and healthcare housing finance, as evidenced by our
previous acquisitions of RED Capital Group and Boston Financial
Investment Management. Having these three companies under the ORIX
umbrella extends our ability to improve the quality of life in our
communities through investments in seniors housing and healthcare.”
Lancaster Pollard is a new separate subsidiary of ORIX alongside RED
Capital Group (“RED”) and Boston
Financial Investment Management (“Boston Financial”). All three ORIX
subsidiaries will continue to operate as separate companies with their
current management. Andrew Garvey, Senior Managing Director and Head of
ORIX Commercial Mortgage Servicing, will have overall responsibility
across the three businesses, managing the synergistic growth
opportunities provided by the larger platform.
“There is a great deal of synergy between Lancaster Pollard, RED and
Boston Financial, with all three companies focused on the vital sectors
of housing and healthcare for our most in-need populations,” said
Lancaster Pollard CEO Nick Gesue. “Our firm and ORIX share strong and
unique high-performance cultures. With its proven track record of
profitability and growth, ORIX holds the intellectual and financial
capital that will fuel and accelerate the growth of our company. We’re
thrilled with the confidence that one of the largest global financial
services companies has shown in our platform and employees, and together
we are positioned for a new chapter in our company’s history, focused on
innovation and growth.”
With a strategy of growing its multifamily, seniors and affordable
housing businesses, ORIX bought an 88 percent stake in RED in May 2010,
making it the foundation of ORIX Commercial Mortgage Servicing. Last
year, ORIX reaffirmed its commitment to RED by purchasing the remaining
12 percent interest in the company. RED is recognized for its 27 years
of industry expertise, innovative and comprehensive structures, and
consistently high rankings. The company has provided over $75 billion of
integrated debt and equity capital since 1990. RED is a Fannie Mae DUS®
lender, a MAP- and Lean FHA lender and a Freddie Mac small balance
lender with a combined mortgage servicing portfolio exceeding $16
In July 2016, ORIX acquired Boston Financial. The acquisition combined
the financial strength and innovative capital solutions of ORIX with
Boston Financial’s 48-year history and track record as one of the
largest syndicators in the Low-Income Housing Tax Credit (LIHTC)
industry. Since its inception, Boston Financial has raised over $11
billion of low-income housing and historic tax credit equity, and
acquired over 2,400 properties.
Moving forward under the ORIX Commercial Mortgage Servicing umbrella,
Lancaster Pollard will focus on the financial, capital and advisory
needs of senior living and healthcare clients, and RED will do the same
in the affordable and market rate multifamily sectors. Boston Financial
will continue to provide tax credit equity and related development
capital to all three housing sectors.
“ORIX Commercial Mortgage Servicing is well-positioned to make a
positive impact on the U.S. housing infrastructure through the
subsidiaries of Boston Financial, Lancaster Pollard and RED,” Garvey
said. “Further, we believe that having RED focus on its leading position
in affordable and market rate multifamily housing and Lancaster Pollard
focus on its leading position in seniors and healthcare housing will
provide clients with the highest level of expertise and service and also
ensure optimal coordination with the housing agencies and FHA. Together,
this group of well-known, industry-leading brands will provide a
comprehensive product offering, seasoned sector expertise, unparalleled
client coverage and high levels of service.”
Advisers for ORIX USA on the transaction included Beekman Advisors Inc.
and Houlihan Lokey Inc. for financial and Weil, Gotshal & Manges LLP for
legal. For Lancaster Pollard, Credit Suisse Securities (USA) LLC served
as financial adviser and Kramer Levin Naftalis & Frankel LLP as legal
For more information, visit www.orix.com/lancasterpollard.
ORIX USA Corporation
Since 1981, ORIX USA has provided innovative capital solutions that
clients need to propel their business to the next level. Based in
Dallas, ORIX USA has a team of more than 900 employees spanning more
than 30 offices across the U.S. and Brazil. ORIX USA and its family of
companies offer investment capital and asset management services to
clients in the corporate, real estate, municipal and energy sectors,
while holding $8 billion of assets and managing an additional $34
billion, approximately. Its parent company, ORIX Corporation, is a
Tokyo-based, publicly owned international financial services company
with operations in 36 countries and regions worldwide. ORIX Corporation
is listed on the Tokyo (8591) and New York Stock (IX) Exchanges. For
more information on ORIX USA, visit www.orix.com.
Lancaster Pollard helps healthcare and senior living providers expand
and improve their services by providing a full range of investment
banking, mortgage banking, private equity, balance sheet financing and
M&A advisory services. Lancaster Pollard & Co. LLC, a registered
broker/dealer, underwrites taxable and tax-exempt bonds, and provides
debt placement and syndication, as well as M&A advisory services.
Lancaster Pollard Mortgage Company originates, underwrites and services
mortgage loans insured or guaranteed by governmental agencies. Lancaster
Pollard Finance Co. LLC provides balance sheet financing. The Propero™
Seniors Housing Equity Fund LLC provides equity financing for the new
development and acquisition of seniors housing and care properties.
Lancaster Pollard has provided over $20 billion in debt and equity
capital since its inception and its mortgage servicing portfolio exceeds
$6 billion. The firm’s home office is in Columbus, Ohio, and it has
regional banking offices in Atlanta, Ga; Austin; Bozeman, Mont.;
Chicago, Ill.; Denver, Colo.; Kansas City, Kan.; Minneapolis, Minn.;
Newport Beach, Calif.; and Philadelphia, Pa. For more information, visit www.lancasterpollard.com.
Cautionary Language Concerning Forward-Looking Statements
This press release contains, and oral statements made from time to time
by our representatives may contain, forward-looking statements that are
based upon our current expectations and assumptions concerning future
events, which are subject to a number of risks and uncertainties that
could cause actual results to differ materially from those anticipated.
The words "expect," "anticipate," "estimate," "forecast," "initiative,"
"objective," "plan," "goal," "project," "outlook," "priorities,"
"target," "intend," "evaluate," "pursue," "commence," "seek," "may,"
"would," "could," "should," "believe," "potential," "continue" or the
negative of any of those words or similar expressions are intended to
identify forward-looking statements. All statements contained in this
press release, other than statements of historical fact, including,
without limitation, statements about the benefits of the transaction,
objectives, expectations and intentions, strategies, business
initiatives, prospects and the expected development of the industry in
which Lancaster Pollard, RED and Boston Financial operates, are
forward-looking statements that involve certain risks and uncertainties
outside of our control.
You should not place undue reliance on the forward-looking statements
contained in this press release. These forward-looking statements speak
only as of the date on which the statements were made.
Weundertake no obligation to update or revise any
forward-looking statements, except where expressly required by law.
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Source: ORIX USA Corporation
ORIX USA Corporation
Amanda Rider, 972-770-5083