AvantGarde Senior Living received a $28 million senior loan from Oxford Finance LLC. The funds will be utilized to refinance existing debt on a Tarzana, California assisted living community.
AvantGarde, which was founded in 2008, owns and manages two high-quality assisted living communities in California, including the subject property, which was purchased as a 100-unit senior living hotel in 2010 and converted to a 138-bed licensed assisted living community. It provides AL, memory care and independent living services.
Oxford also recently backed the acquisition of four Texas SNFs with a senior credit facility totaling $27.5 million. With that debt, Cascades Healthcare was able to purchase the four facilities, which total 647 licensed beds.
