Aspen Skilled Healthcare gets $25M, Lument Closes $35.6M Loan for PA SNF

White Oak Healthcare Finances $25 Million for Aspen Skilled Healthcare

White Oak Healthcare Finance LLC announced it funded a $25 million credit for Aspen Skilled Healthcare, Inc last week.

White Oak will reportedly act as the sole lender and administrative agent of the asset-based senior credit facility and with the funds being used to finance ongoing working capital.

Aspen’s independent affiliates operate skilled nursing facilities in Los Angeles and San Francisco metro areas.

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The lender provided a flexible solution for Aspen as the two companies are excited to grow together, according to a jointly-released statement. White Oak Healthcare Finances $25 Million for Aspen Skilled Healthcare

Walker & Dunlop Finances $55.6 Million For Three Skilled Nursing Facilities in Chicago

Walker & Dunlop announced it structured $55,680,000 in financing for three skilled nursing facilities in the Chicago area: Chalet Living & Rehab Center, The Grove of Evanston, and The Grove of La Grange Park.

The loans feature terms of approximately 27 years with attractive fixed rates.

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In a statement announcing the transaction, Walker & Dunlop said it was an excellent example of the company’s ability to provide new opportunities for skilled nursing facilities amid the pandemic.

Blueprint Announces Sale of Valley View in Boise

Blueprint announced that it facilitated a deal for a national senior housing owner-operator to take over Valley View Nursing and Rehabilitation in Boise Idaho, a four-star CMS rated 120-bed nursing facility on a campus that includes 51 units of independent living and 143 units of assisted living.

The partner was reportedly selected for their creative plan to turn around operations and their flexibility related to the lease structure.

Valley View, a regional hospital, consistently performed in the 70% occupancy range with a strong quality mix.

The turnaround began with the new operator stepping into a management role in Jan. 2019 and at the close of 2020 they had generated $12.3 million in revenue, outperforming the previous manager by 20% and 10%, respectively.

Lument Gets $35.6 Million Bridge Loan for Centre Care Rehabilitation

Lument announced it closed a $35.6 million U.S. Department of Agriculture Community Facilities loan to fund the construction of Centre Care Rehabilitation and Wellness Services.

The 240-bed skilled nursing facility, located in Bellefonte, Pennsylvania, will replace an existing facility that was deemed unsuitable for substantial renovations due to its age and location, according to the press release.

Complete Healthcare Resources Eastern helped with the deal, which included securing a $35.6 million bridge loan from First National Bank. It includes a low, fixed interest rate and 36-year term.

The new community features accommodations for 30 residents in memory support, 30 residents in a high-acuity wing, 60 residents in short-term rehabilitation and private suites, and 120 residents in traditional long-term care.

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