Four skilled nursing facilities owned by a Formation Capital-led investment group successfully refinanced with the help of Leslie Beck and Adam Panos of CIBC. All located in the greater Philadelphia market, these facilities have been operated by Saber Healthcare for the past three years. CIBC had also provided working capital to them since Saber took over operations.
The current loan totals $30 million and comes with a term of three years. There is also an extension option for a fourth year.