Navigation Links
TrinityCare Senior Living Announces Extension of Financing for Trinity Shores Facility in Port Lavaca, Texas
Date:7/22/2009

FRIENDSWOOD, Texas, July 22 /PRNewswire-FirstCall/ -- TrinityCare Senior Living, Inc. (OTC Bulletin Board: TCSR), which develops, manages and owns faith-based senior living facilities, today announced the execution of a six-month extension of its construction/mini-perm loan with Trustmark National Bank. As the construction lender for the Trinity Shores senior living facility in Port Lavaca, Texas, Trustmark National Bank initially provided a mini-perm loan that expires in July 2009. With this extension, TrinityCare believes it can achieve the occupancy and debt coverage ratios necessary to refinance after three years under the HUD 232 loan program.

"Trustmark has been an excellent lender, and we are pleased with our relationship and our ability to satisfy the requirements for an extension of the loan's maturity, as we await the time requirement to apply for the HUD loan guarantee," stated Donald W. Sapaugh, Chairman and Chief Executive Officer of TrinityCare Senior Living, Inc. "We have worked with Trustmark on two of our facilities and have been delighted with our joint ability to create satisfactory outcomes for all parties involved. In the current financial climate where many borrowers have adversarial relationships with their lenders, we can report a very favorable one."

"Trinity Shores, the smallest facility in the TrinityCare system, represents the Company's first entry into a tertiary market. Resident occupancy levels continue to improve, and we are pleased with the facility, our staff and the very positive response of the regional community along the Texas Gulf Coast," continued Sapaugh.

"We have had a very positive relationship with TrinityCare, and we believe their philosophy towards senior care in quality facilities provides a wonderful opportunity for those living in the Port Lavaca area," stated Spence Bridges, Senior Vice President and Commercial Real Estate Manager for Trustmark National Bank in Houston.

About Trustmark National Bank

Trustmark National Bank is a wholly-owned subsidiary of Trustmark Corporation (Nasdaq: TRMK), a financial services company with $9.8 billion in assets that provides banking and financial solutions through over 150 offices and 2,600 associates in Florida, Mississippi, Tennessee and Texas.

About TrinityCare Senior Living, Inc.

TrinityCare Senior Living, Inc. ("TrinityCare") develops, owns, and manages quality senior living facilities that focus on enriching the faith of the residents and providing state-of-the-art independent living, assisted living, memory care and adult day care services in a single location. TrinityCare partners with local churches and developers for each facility and offers a wide range of both community and personal services to residents. TrinityCare is a rapidly growing company with three successful facilities currently operating in Texas and Tennessee. Near-term expansion plans target the Southeastern part of the United States. For additional information, please visit www.trinitycare.com.

TrinityCare is headquartered in Friendswood, Texas (Houston metropolitan area), and its common stock trades on the OTC Bulletin Board under the symbol "TCSR."

Forward-Looking Statements

The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements related to the future financial performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful execution of growth strategies, product development and acceptance, the impact of competitive services and pricing, general economic conditions and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.

                  For Additional Information, Please Contact:
                   Donald W. Sapaugh, CEO, at (281) 482-9700
                                     or
              RJ Falkner & Company, Inc., Investor Relations Counsel,
               at (830) 693-4400 or via email at info@rjfalkner.com


'/>"/>
SOURCE TrinityCare Senior Living, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. TrinityCare Senior Living, Inc. Changes Fiscal Year End to December 31st
2. TrinityCare Senior Living Trading Under New Symbol TCSR
3. TrinityCare Appoints Decorated Christian Artist Al Denson to Board of Directors
4. TrinityCare Appoints Kirk B. Shulke, M.D. to Board of Directors
5. TrinityCare Senior Living, Inc. Retains RJ Falkner & Company, Inc. as Investor Relations Counsel
6. TrinityCare Senior Living to Present at Southwest Investment Association Conference on April 25, 2009
7. National Radio Program to Expand Awareness of TrinityCares Unique Approach to Senior Adult Care
8. TrinityCare Senior Living, Inc. Announces First Quarter Operating Results
9. TrinityCare Senior Living Announces Funding Agreement for Fourth Senior Living Facility
10. TrinityCare Senior Living, Inc. Information to be Available Through Standard & Poors Market Access Program
11. Oral Health a Matter of Life and Death for Seniors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/2/2016)... ... May 02, 2016 , ... ... event, will be held at the Bellagio Hotel in Las Vegas, NV from ... Work (NASW) will be co-hosting the event. , This year’s conference will offer ...
(Date:5/2/2016)... ... May 02, 2016 , ... ... recently completed two groundbreaking studies that determined that the adjustability and adaptability of ... in the prevention of pressure injuries, which are now referred to as “pressure ...
(Date:5/2/2016)... ... May 02, 2016 , ... Dr. Jonathan Kulbersh of Carolina Facial Plastics isn’t surprised that ... on the list of “ 5 US Cities with the Highest Plastic Rates .” ... Miami. The results were calculated using a survey by RealSelf and combining ...
(Date:5/2/2016)... ... 02, 2016 , ... MedaCheck, a leading medication and disease ... announced its partnership with GrandView Health Services. , With decades of experience, Grandview ... prescription drug pharmacy services to thousands of residents. Serving Indiana, Ohio, Michigan, Tennessee ...
(Date:5/2/2016)... ... , ... The Evolve Paddle Board Company- which specializes in the production and ... their partnership with Yoloha Yoga- producers of high quality cork yoga mats. Together they ... seen a dramatic rise in popularity throughout the last few years. The makers of ...
Breaking Medicine News(10 mins):
(Date:4/28/2016)...  While Abbott,s announced purchase of St. Jude ... and stent business, healthcare research firm Kalorama Information ... into patient monitoring.  Kalorama said that patient monitoring ... with double-digit growth expected the next 5 years, ... Patient Monitoring . Abbott Laboratories agreed to ...
(Date:4/28/2016)... April 28, 2016  The blood testing market in ... according to Kalorama Information and The Freedonia Group in ... nucleic acid testing.  The healthcare research firm said that ... developing blood collection stations and in improving testing at ... Information,s report, Blood Testing Market in China ...
(Date:4/28/2016)... Oramed Pharmaceuticals Inc. (NASDAQ: ORMP ) ( ... of oral drug delivery systems, announced today that the Company ... Joseph Gunnar & Co. LLC, taking place on ... Nadav Kidron , CEO of Oramed, will present a ...   PIONEERS 2016, presented by Joseph Gunnar ...
Breaking Medicine Technology: