Oxford Finance announced the closing of a $124.7 million senior credit facility for the acquisition of four Autumn Lake Healthcare skilled nursing facilities. Located in Burtonsville, Sykesville, Rising Sun and Manchester, the four facilities comprise a total of 520 licensed beds and sold for a combined $142.5 million, or $276,200 per bed. Gideon Orion of Walker & Dunlop handled the sale. Autumn Lake Healthcare maintains a network of independently owned and operated nursing homes and rehabilitative care centers across Connecticut, New Jersey, Maryland, West Virginia, and Wisconsin.
The seller, Axis Health, sold two other facilities on the Eastern Shore of Maryland to Key Health Management. Those facilities totaled 222 beds and sold for $44.5 million, or $200,450 per bed. Key Health entered the state with the deal.
