Since the start of July, Capital One has closed a flurry of deals for seniors housing and care borrowers, and has crisscrossed the country doing so. The bank has so far provided a $27.2 million HUD refinance for three skilled nursing facilities in Tennessee, a $12 million HUD loan for a Portland, Oregon-area SNF, $77.7 million in financing for a portfolio of nine Pacifica Companies-owned seniors housing communities, and a $41.1 million first mortgage, plus a $5 million senior credit facility, on behalf of Oregon-based Prestige Care to both acquire four senior care properties and refinance three others in the Pacific Northwest.
The activity continued for Capital One, when it recently helped a large regional provider of post-acute care services in the Southeast refinance five of its facilities, including what is the only private ICF-MR (an intermediate care facility for the developmentally disabled) in Georgia. PruittHealth, based in The Peach State, is a family-owned organization that has built a network of 170 provider locations, with more than 90 post-acute, skilled nursing and assisted living facilities, throughout Florida, Georgia, North Carolina and South Carolina. It is refinancing five of its properties, four of them (including three skilled nursing facilities and the 130-bed ICF-MR) are located in Valdosta, while the fifth SNF is located in Durham, North Carolina. Capital One provided PruittHealth a $16.3 million loan.
