Rollins-Nelson, an owner/operator of skilled nursing facilities, assisted living communities and acute-care hospitals in California, sought out Capital One Commercial Bank to refinance two of its facilities: a 342-bed SNF in Glendora and a 361-bed (262 of which are assisted living) facility in Long Beach. Shane Passarelli of Capital One led the way in providing both a $30 million senior secured term loan and a $4 million revolving line of credit, which will give Rollins-Nelson the flexibility to refinance existing debt and fund ongoing operations. The company will have access to additional liquidity during the term based on certain performance objectives.
