We wrote in the August issue of The SeniorCare Investor of Birchwood Health Care Properties’ acquisition of four skilled nursing facilities and a hospice care and home health company in Oklahoma, and that HJ Sims had financed a $5.25 million subordinate loan to fund the deal. Now, RED Capital Partners has just announced that it closed a $12.7 million balance sheet acquisition loan for Birchwood’s take-over of the 361-bed portfolio. The transaction was unique, in that the ancillary home health and hospice business provided credit support for the bridge-to-HUD loan.
A team effort
