The Atrium Health & Senior Living post-acute care facility in Livingston — Courtesy: Investors Bank
By Joshua Burd
Investors Bank is celebrating the completion of a new 100,000-square-foot post-acute care facility in Livingston, for which it provided $30 million in financing.
The bank said it served as the lead lender for the project by Atrium Health & Senior Living, a three-floor building that includes 124 suites for rehabilitation services. The financing from the Investors Bank Healthcare Lending Group included a construction loan, term debt and working capital for the facility at 348 East Cedar St.
“We are proud to have partnered with the Atrium team that developed this brand new, state-of-the art center that was just presented to the local community,” said Ron Krauskopf Investors Bank’s senior vice president and team leader of health care lending. “Atrium is a revered owner-operator of post-acute care centers in Michigan, New Jersey and Wisconsin, and we are excited to see the team offer their brand of care at this location.
“In today’s world of health care, such a leading-edge center is critical to the long-term success of a patient’s recovery and the rapid return to his or her home.”
The new center features state-of-the-art physical care therapy equipment, Investors said, including a HydroWorx 1200 Aquatic Therapy Pool and advanced systems that give patients a head start in the process of rehabilitation. Amenities include a movie theater, outdoor fireplace with sitting area, library, barber and salon, along with rooms designed for ease of movement and relaxation.
“We have opened the most exceptional post-acute care rehabilitation center in New Jersey and probably across the nation,” said Atrium’s Samantha Newman Webster, the Livingston campus executive director. “Our center is a masterpiece that was thoughtfully designed and constructed with meticulous attention to detail. We have succeeded in creating a center that delivers exceptional patient care for faster and more thorough recovery.”
Investors added that its health care group is also the lead lender in originating a $25 million loan, which Atrium is using to build an assisted-living community facility on a nearby parcel. The building and the facility is scheduled to open later this year.
“We are fortunate that Investors Bank CEO Kevin Cummings and the Healthcare Lending Team shared our vision and they supplied part of the financing,” said Kevin P. Breslin, Atrium’s managing member. “The result is an incredible building that is a joint effort by many brilliant people and on this special night, we are recognizing their efforts and achievements.”
