Skilled Nursing Dealbook: $67 million in Financing for Wisconsin Nursing Homes; $22M in Financing for Southeast Facilities

CIBC Bank USA provided a $67 million term loan to finance the acquisition of five skilled nursing facilities and refinance 21 skilled nursing and assisted living facilities in Wisconsin. Meanwhile, a skilled nursing portfolio of 29 facilities in the Southeast received $22 million in funding from MONTICELLOAM.

CIBC Bank USA provided a $67 million for facilities in Wisconsin

CIBC Bank USA provided a $67 million term loan to finance the acquisition of five skilled nursing facilities and the refinance of 21 skilled nursing/assisted living facilities located throughout Wisconsin.

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CIBC Bank USA also provided an aggregate $21 million of working capital via multiple revolving lines of credit to 53 skilled nursing/assisted living facilities primarily located in Wisconsin.

The borrowing group had recently received substantial reimbursement support from the State of Wisconsin to better align with the state’s desire to improve quality of care and better outcomes for the residents.

Peter Kane and Michael Velazquez managed the transaction for CIBC Bank USA.

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MONTICELLOAM provides $22M in financing for SNF Portfolio

MONTICELLOAM closed a $22 million senior secured working capital facility, complementing the firm’s recent $400 million bridge financing for 29 Southeastern skilled nursing facilities.

The working capital facility has a three-year initial term and will cover the day-to-day operating expenses of over 2,900 skilled nursing beds across Kentucky and Tennessee.

“We are thrilled to provide this financing solution to a returning client and exceptional sponsorship group. This $22 million transaction contributed to a record year for the firm in 2024, with the highest volume of asset-based loan originations in our firm’s history. We look forward to continuing to deliver the exceptional service our clients have come to expect throughout 2025,” Kim Gordon, head of the MonticelloAM Working Capital group, said in a press release.

PruittHealth acquires family-owned skilled nursing centers

PruittHealth, a family-owned and Georgia-based provider of post-acute care, announced the purchase of two new health care centers from industry leader Debbie Meade and her Georgia-based organization Health Management. PruittHealth took over the operations of Eastview Nursing Center in Macon and Southern Pines Nursing Center in Warner Robins on December 31. The locations were rebranded as PruittHealth – Lakeside and PruittHealth – Warner Robins.

“We recognize and deeply respect the rich heritage of this family-owned organization, built over many years by Debbie Meade and her devoted team,” Neil L. Pruitt, Jr., chairman and CEO of PruittHealth, said in a press release. We believe family makes us stronger, and we are fully committed to preserving this legacy while shaping a bright future for the patients in these locations we now have the privilege of serving.”

PruittHealth has a robust transition plan and has been working closely with on-site teams at both locations for several weeks to ensure the continuity of high-quality care.

“I have known and worked on industry initiatives with Neil Pruitt for decades, and I can say without hesitation that his commitment to providing our state with high-quality care options and innovation in post-acute care is second to none,” said Debbie Meade, CEO of Health Management. “I have full confidence that under his leadership, our patients will continue to receive the highest level of care and attention they deserve.”

PruittHealth – Lakeside on Jeffersonville Road in Macon is a 92-bed long-term care facility with full-time onsite rehabilitation services. PruittHealth – Warner Robins on Elberta Road in Warner Robins is a 66-bed long-term care facility that also offers comprehensive care for patients recovering from hospital stays such as stroke, heart attack, infection, or accidental injury.

With the acquisition of the new centers, PruittHealth now owns and operates 64 skilled nursing facilities in Georgia and 102 across the Southeast. PruittHealth offers patients a seamless continuum of care, including home health, therapy, pharmacy, personal care services, assisted living, hospice, and palliative care. For more information, visit PruittHealth.com.

Greystone arranges $33.7M debt placement to refinance four facilities

Greystone arranged a $33.7 million debt placement to refinance a portfolio of seniors communities in the Pacific Northwest for four properties across two states.

The transaction was sourced by David Young, a Managing Director at Greystone on behalf of a regional owner of affordable-focused senior housing communities.

Each community has a specific Medicaid contract with the state serving assisted living and memory care residents. The financing was provided by a debt fund meeting the borrower’s expectations on proceeds.

“With recent Medicaid rate increases and capital expenditures completed on the communities, we were seeking to maximize proceeds for this debt request. We sourced a fitting lender after an extensive process working with banks, credit unions and unlevered, A/B tranched, and back-levered debt funds,” Young said in a press release.

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