White Oak Healthcare Finance is aggressively growing its presence in the senior care lender market and purchased a portfolio of 12 skilled nursing and seniors housing loans from Capital One and its participant banks. Financial terms were not disclosed, but the loans totaled approximately $700 million and helped Capital One reduce its skilled nursing exposure. So, it was a win-win for both parties. Capital One also provided debt financing for White Oak to fund the transaction.
This isn’t White Oak’s first big wave in the senior care lending market. Last month, the company served as administrative agent and lead lender on the funding of a $190 million senior credit facility of 17 skilled nursing facilities owned by BlueMountain Capital Management. Perhaps we’ll see an even busier 2019 for White Oak.
