Acts Management Services (AMS) is the management company for Acts Retirement-Life Communities (Acts), which is the nation’s largest not-for-profit owner, operator, and developer of senior living continuing care retirement communities (CCRCs). Acts provides comprehensive life care services to seniors including independent living, assisted living, memory care, skilled nursing, and primary care services through a network of 26 campuses in nine states serving more than 10,000 residents.
Acts and Univest have a long-standing partnership and, even in the midst of the challenges presented by COVID-19, Acts is growing and Univest is proud to support its mission. Tom Cassidy, Vice President and Senior Relationship Manager on Univest’s commercial banking team, worked with AMS to secure financing for its new corporate services center in Fort Washington, PA. The loan proceeds allowed for AMS to both acquire the new corporate offices and complete renovations which led to the consolidation of two office buildings into one central location.
Susan Ahern, Senior Vice President and CFO of Acts, explained that proceeds of this transaction allow the members of Acts leadership team to all be in one building, which will facilitate continued collaboration and excellence in the senior living industry. “The ability of Univest to follow this transaction through to closure in spite of the obstacles of the pandemic was a credit to their commitment to the long-term relationship that we both value and the professionalism of their leadership,” said Ahern.
Thanks to a strong relationship between Univest and Acts there was a solid foundation. That, along with Acts’ disciplined approach to its business and industry excellence, made this financing a success despite the challenges presented by the pandemic.
Univest Bank and Trust Co. is Member FDIC, Equal Opportunity and SBA Preferred Lender.