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TrinityCare Senior Living Announces Further Expansion in Houston Area
Date:8/5/2009

FRIENDSWOOD, Texas, Aug. 5 /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 Woods, an 82-unit, $10 million senior living facility in Katy, Texas, should be available under the agreement this fall, with completion of construction anticipated in 2010.

"The financial strength of this lender, which has extensive experience with HUD 232 lending in the senior living industry, coupled with a very experienced land developer as our equity partner, should allow us to expedite processing of the loan for this project," stated Donald W. Sapaugh, Chairman and Chief Executive Officer of TrinityCare Senior Living, Inc. "The multi-family division of this lender has been very supportive in meeting the needs of our Company."

"Trinity Woods will represent our third senior living facility in the Houston metropolitan area," continued Sapaugh. "Katy, Texas has experienced rapid population growth in recent years and the demographics surrounding this project reflect a great need for the type of facility we are building."

"We welcome the opportunity to partner with TrinityCare in this project," noted Alan Atkinson, Managing Director of AVA Limited, which will contribute land in exchange for equity in the Trinity Woods development. "TrinityCare is gaining recognition throughout the southeastern U.S. for its development and operation of high-quality, faith-based senior living facilities that meet the lifestyle and healthcare needs of seniors, and we are proud to play a role as an equity partner in the Katy project."

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SOURCE TrinityCare Senior Living, Inc.
Copyright©2009 PR Newswire.
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