New York City-based health care lender and asset manager MONTICELLOAM, LLC announced that it provided a $70 million, five-year loan to refinance a seven skilled nursing facility portfolio.
That portfolio consists of 953 beds throughout Arkansas.
The sponsors of the transaction have a total portfolio of approximately 1,200 beds in Arkansas and have a proven track record with Monticello.
Dwight Capital Funds $56 Million for Skilled Nursing Portfolio
Dwight Capital landed a $56 million bridge loan for a 1,550 bed, eight skilled nursing facility portfolio located across 25 acres in Illinois.
The facilities include Lexington Health Center Bloomingdale, Lexington of Schaumburg, Lexington of Orland Park, Lexington of Lombard, Lexington of Chicago Ridge, Lexington of Elmhurst, Lexington of La Grange, and Lexington of Lake Zurich.
Cross River Bank served as co-lender and participant in the transaction.
Legacy Healthcare assumed operations from the sponsor, Lexington Health Network, under a new operating lease.
Dwight Capital’s Adam Offman, managing director of healthcare finance, originated the transaction.
New Ownership Takes Over New Lebanon
SKLD New Lebanon announced a change in ownership this month.
The new ownership team, a group of group skilled nursing facility managers and operators in Ohio and the Midwest, took over the 113-bed subacute and skilled nursing facility in New Lebanon, Ohio in May. The seller was Illuminate HC.
Renamed New Lebanon Rehabilitation & Healthcare Center, the new ownership team has overseen operations at similar-sized centers, in rural and suburban communities around the Midwest.
Ziegler Closes $48.95 Million Deal
Chicago-based specialty investment bank Ziegler announced it helped Symphony Care Network on a $48.95 million debt placement for two skilled nursing facilities located in the Lincoln Park and South Shore neighborhoods of Chicago.
Symphony reacquired the communities, which included 475 licensed skilled nursing beds, and was already operating them prior to the transaction.
The transaction represented a wider portfolio restructuring between the buyer and seller.
Ziegler closed the transaction in 52 days from initial engagement.
“This pivotal deal will allow Symphony to continue delivering the finest healthcare services to the surrounding communities,” David Hartman, CEO of Symphony Care Network, said in the press release.
Companies featured in this article:
Cross River Bank, Dwight Capital, Illuminate HC, Legacy Healthcare, Lexington Health Network, MONTICELLOAM, Symphony Care Network
