Silverado Announces $45 Million Capital Commitment from Artemis Real Estate Partners

 6/13/2018

IRVINE, June 13, 2018--Silverado today announced it has received a $45 million investment commitment from Artemis Real Estate Partners. This new financing will fuel Silverado’s 5-year plan to develop memory care communities throughout top US metro areas, and support its hospice, palliative care and at home offerings. Adding Artemis as a trusted partner will enrich Silverado’s strategic resources, and further its long-standing relationships with RLH Equity Partners and Welltower.

Artemis has raised approximately $4 billion of investor capital across a core-plus healthcare real estate fund, three commingled value-add/opportunistic fund vehicles, and a series of emerging manager separate accounts. In connection with the investment, Kelly Sheehy, Principal & Managing Director of Artemis, will join Silverado’s Board of Directors.

“Our decision to seek a capital investment with Artemis is about more than just financing,” said Loren Shook, President, CEO and Chairman of Silverado. “It is about developing a long-term relationship with a partner that we can trust and that has the capabilities and innovation to fuel our growth and support our purpose of changing the world in the way that individuals with memory impairment are cared for, and to maximize the quality of life through the end of life.”

”We are excited to partner with Silverado to develop state of the art memory care communities for the next generation of seniors” said Kelly Sheehy, Principal & Managing Director of Artemis.  “The dementia population is projected to grow over 30% faster than general senior population growth in the near term, which creates a compelling investment opportunity to fill a market need for Class A real estate that will provide the highest quality of care and service for residents.”

“We welcome Artemis to the Silverado family and look forward to partnering together to help Silverado reach its full potential,” shares J. Christopher Lewis, Co-founder, Managing Director of RLH Equity Partners.

Coker Capital Advisors served as exclusive financial advisor to Silverado in connection with this transaction.

 

About Silverado

Nationally recognized as the leader in memory care, Silverado provides a continuum of care, ranging from home care to palliative and hospice care, operating in eight states. Its reputation is supported by excellent clinical outcomes and innovative programming. The Silverado care model has influenced seniors housing providers nationwide since the company's founding in 1996, and the company continues to be at the forefront of innovation. Silverado has earned numerous industry awards and commendations, including Top Places to Work in Orange County (Orange County Register 2009-2017) and Texas Assisted Living Association’s Legislative Organization of the Year Hero Award (2017).

Silverado partners with leading academic institutions to advance clinical research in memory care, including the University of California San Diego, the University of California Los Angeles, the University of Southern California, Northwestern University, and Baylor College of Medicine. Additionally, each memory care community has care oversight by a physician medical director, many of whom are renowned leaders in the field of neurology and gerontology.

With 54 locations across Arizona, California, Illinois, Texas, Utah, Virginia, Washington and Wisconsin – the company strives to deliver world-class care and unmatched service. To learn more call (866) 522-8125.

About Artemis Real Estate Partners

Artemis Real Estate Partners is a real estate investment management firm that invests with best-in-class local operating partners, both established and emerging, in multifamily, office, industrial, retail, hospitality and seniors housing. Artemis has raised approximately $4 billion of investor equity in two primary business lines: approximately $2.7 billion in a commingled fund series (core plus, value add and opportunistic) and over $1.2 billion in separate accounts focused on emerging managers. To learn more, visit artemisrep.com.

About RLH

Riordan, Lewis & Haden is a leading private equity firm which partners with entrepreneurs to help them build distinctive high-growth businesses and realize their aspirations.  RLH provides experienced strategic guidance to its portfolio companies while embracing the entrepreneurial spirit of those companies’ founders.  The RLH investment team, which averages over 15 years of private equity experience, has developed proven processes to enhance organic growth and drive enterprise value.  With a 35+ year history of successful investing, RLH is uniquely able to help fast growing, profitable enterprises with $25-150 million revenue in the business services, healthcare, and government services sectors achieve their goals.  The firm currently manages over $1 billion of assets and is actively seeking new portfolio company investments. rlhequity.com.

About Welltower

Welltower Inc., an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. Welltower®, a real estate investment trust ("REIT"), owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities and outpatient medical properties. More information is available at welltower.com.

About Coker Capital

Coker Capital Advisors is a healthcare-focused mergers and acquisitions advisory firm. With offices in Atlanta, Charlotte, and New York, we provide mergers and acquisitions advisory services to middle market healthcare companies. Our team combines investment banking, private equity, legal, and management consulting experience within the healthcare industry. Our senior professionals average more than a decade of healthcare transaction experience and have completed over 225 transactions across a wide range of healthcare subsectors with an aggregate transaction value in excess of $65 billion. cokercapital.com.

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