BlueMountain Capital Management has been steadily working to close its large acquisition of 96 skilled nursing facilities from Kindred Healthcare (a deal valued at approximately $700 million). For its latest tranche of closings, the firm received $128 million in acquisition financing originated by Grant Saunders and Peter Trazzera of KeyBank Real Estate Capital’s Healthcare Mortgage Group.
The term loan funded the purchase of 13 facilities including nine in California, three in Massachusetts (that are nearing approval) and one in Nashua, New Hampshire. Of the California facilities, five are located in San Francisco, plus one each in Salinas, Stockton, Walnut Creek and Livermore. This marks the fourth transaction between KeyBank and BlueMountain.
