Tampa Senior Living Operator sues Truist: TBBJ

Validus Senior Living's co-founder, Mario Garcia Jr., has filed a lawsuit against Truist, alleging the bank pressured an appraiser to devalue a Validus facility, resulting in defaulting on a lending agreement. Truist, declining to comment on the matter, is accused of attempting to sever ties with Validus to appease Wall Street analysts, pushing for loan repayment despite modifications during the pandemic. Garcia asserts Truist's actions stem from disinterest in the senior living sector, prompting litigation seeking relief to maintain operations and refinance with a new banking partner. Attorney John Anthony represents Garcia and Validus in the ongoing legal battle.