A skilled nursing operator secured $318.8 million in financing across two transactions, including funding for the acquisition and sale-leaseback of 22 facilities and a working capital line of credit supporting a 40-facility portfolio. Meanwhile, a Florida-based skilled nursing facility operator received a $2 million asset-based revolving line of credit.
CFG closes $318.8M in financing for SNF
CFG closed two financing transactions totaling $318.8 million for a skilled nursing operator, including funding for the acquisition and sale-leaseback of 22 facilities and a working capital line of credit supporting a 40-facility portfolio.
The financing includes $288.8 million for the acquisition and sale-leaseback of 22 skilled nursing facilities with 1,884 beds in Missouri and Kansas, as well as a $30 million working capital line of credit supporting the operator’s 40-facility, 4,224-bed portfolio across Missouri, Kansas and Ohio.
The $288.8 million transaction was financed entirely by CFG through multiple financing vehicles. The financing was originated by Managing Director and Co-Head of Healthcare Business Development Andrew Jones and Senior Associate Catherine Mansel. The $30 million line of credit was originated by Managing Director of Accounts Receivable Finance Jeff Stein and Director Jim Ginty. Both transactions closed June 1.
“These transactions showcase our expertise to structure customized financing solutions that address multiple priorities at the same time,” said Tim Eberhardt, CFG Bank Executive Vice President of Bridge, HUD and Agency, said in a press release. “By structuring financing to support the acquisition and sale leaseback while also providing working capital for the operator’s full portfolio, we delivered a solution to strengthen current operations and future growth.”
Florida SNF receives $2M
SixCap Healthcare Finance closed a $2 million asset-based revolving line of credit for a Florida-based skilled nursing facility operator to provide working capital for ongoing operations and future growth.
The financing was completed alongside a real estate acquisition loan from a lending partner, creating a coordinated financing package that addressed both the operator’s real estate and working capital needs.
“Healthcare operators often require multiple capital solutions to successfully execute their growth strategies,” Ed Kauffman, co-founder and executive vice president of business development at SixCap Healthcare Finance, said in a statement. “Transactions like this highlight the value of collaboration among experienced healthcare finance providers and ensure operators have the capital they need to continue investing in their facilities, employees and residents.”
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