Bank Leumi USA announced that it has booked and funded a $23.5 million refinance for Prestige Care, a third-generation family operator of 80 seniors housing and care properties across eight states in the West.
The transaction will refinance one of Prestige’s asset-based lending revolvers and a real estate term loan secured on a portfolio of four skilled nursing facilities in Oregon and Washington, plus one assisted living community in Arizona, all combining for 356 operating beds. The deal also gives New York-based Bank Leumi a significant treasury management relationship on the West Coast.
