Forbright Bank reported its activity for the first half of the year from its healthcare and HUD lending teams, announcing more than $500 million in loans closed for acquisitions, recapitalizations, working capital, and HUD financings for healthcare providers across the country. One of the largest transactions was a $60 million revolving loan to finance working capital for 49 skilled nursing facilities with over 5,000 beds in Texas.
Forbright also participated as a co-lender as part of a larger term loan totaling $45.5 million that supported the recapitalization of 16 seniors housing properties across multiple states. One borrower obtained a $17.9 million term loan from Forbright to acquire two senior care campuses in Kansas that feature both assisted living and skilled nursing services. The term loan was structured for a future HUD takeout to be facilitated by Forbright.
There was another acquisition featuring a seniors housing community in Florida that needed time for the incoming operator to continue filling and stabilizing the property. To finance the deal, Forbright provided a $35.9 million loan. Finally, Forbright’s team closed a $26.9 million HUD 232/223(f) loan for a skilled nursing facility in Georgia. There was an existing Forbright bridge loan on the property, and the transaction replaced that debt while covering all transaction costs associated with the refinance.
