Two months ago, VIUM Capital announced the hiring of four more experienced bankers, all of whom had worked at Lancaster Pollard (like VIUM’s founders Steve Kennedy and Kass Matt) at one point in time. But their latest addition will come from National Center for Assisted Living. NCAL Executive Director Scott Tittle announced he will leave the organization after six years and will join VIUM in September. He is joining as a Managing Director and the firm’s first Head of Government Relations and External Affairs.
As a licensed attorney, Mr. Tittle brings over 15 years of experience helping assisted living and skilled nursing operators with their regulatory, reimbursement and advocacy needs. His hire is intended to strengthen VIUM’s expertise on reimbursement and regulations as well as maintain relationships with key leaders from Washington, D.C. and the states. That is part of the plan to make VIUM one of the leading financiers in the long-term care industry.
While VIUM solidifies its team, the firm is also closing deals, nearing $1 billion in volume since its April 2020 founding. Its second-quarter volume also includes both HUD refinances and bridge loans, all totaling approximately $115 million.
The HUD haul includes an $11.8 million loan closed for an assisted living/memory care community in Ohio, a $7.5 million loan for an AL community in Illinois, two loans each valued around $7 million for two supportive living communities in Illinois, and a $17.8 million loan closed for a senior care facility in Indiana with skilled nursing, assisted living and memory care services.
For the bridge loans, three transactions supported skilled nursing facilities, the largest totaling $25 million arranged for a SNF in Texas. Another SNF in Texas received a $6.4 million bridge loan, while an Illinois SNF obtained a $19.1 million loan. Finally, two assisted living communities in the Great Lakes region received a $7.3 million loan (the Wisconsin community) and a $4.8 million loan (for a community in Michigan).
