TRINITY TERRACE TO OPEN NEXT SPRING IN HOUSTON METROPOLITAN AREA
FRIENDSWOOD, Texas, June 24 /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 funding agreement with a national lender for the development of a new senior living facility in the Houston, Texas metropolitan area. Funding for Trinity Terrace, an 87-unit, $10 million senior living facility in Pearland, Texas, should be available under the agreement this summer, with completion of construction anticipated by spring 2010.
"Partnering with the financial strength and expertise of this national lender and its significant relationships with HUD/LEAN process will play a key role in allowing us to achieve our expansion goals for 2009," stated Donald W. Sapaugh, Chairman and Chief Executive Officer of TrinityCare Senior Living, Inc. "We are very pleased to be working with the multi-family financing division at this lender and have great confidence in their ability to provide the funding for our fourth senior living facility. We expect funding agreements for additional new facilities to be announced in the next several weeks."
"Trinity Terrace will represent our second senior living facility in Pearland, Texas, a city in the Houston metropolitan area that has experienced rapid population growth in recent years," continued Sapaugh. "Our highly successful initial facility in Pearland, Trinity Oaks, has a waiting list of prospective new residents and enjoys strong support from churches and other community organizations in the Pearland area."
About TrinityCare Senior Living, Inc.
TrinityCare Senior Living ("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. The Company 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 more 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".
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.
|SOURCE TrinityCare Senior Living, Inc.|
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