White Oak Healthcare Finance helped arrange a $185 million senior credit facility for 14 skilled nursing facilities in the southeast.
White Oak acted as the administrative agent in the deal, according to an announcement of the deal on Wednesday. The overall portfolio comprises more than 1,400 beds.
“Though the current operating environment in the skilled nursing industry remains challenging, White Oak remains committed to the sector and recognizes its importance in the post-acute continuum of care, Ross Eldridge, White Oak executive vice president and chief originations officer, said in the press release.
“White Oak continues to be extremely active across all sectors and product types within the healthcare continuum,” Eldridge added. “Our flexible capital, certainty of execution and experienced team allow us to grow with investors and operators in the space.”
White Oak declined to comment further on the deal.
White Oak Healthcare Finance LLC, an affiliate of White Oak Global Advisors LLC, is a lender to all subsectors in the healthcare industry, including skilled nursing facilities. The lender offers a variety of options for providers including cash flow term loans, asset based loans, real estate financings and other types of investments.
Jason Dopoulos, former senior managing director at Lancaster Pollard, was recently brought in as the new managing principal of White Oak Healthcare Partners, a subset of White Oak Healthcare Finance.
In a recent conversation with Skilled Nursing News, Dopoulos said he plans to expand the investment firm’s assets in the skilled nursing space.
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