• Genesis HealthCare’s Legacy Liabilities Lead to Bankruptcy Filing

    Genesis HealthCare has filed for Chapter 11 bankruptcy protection, listing its 298 affiliated holding companies, ancillary businesses and insurance vehicles in its submission to the U.S. Bankruptcy Court for the Northern District of Texas Dallas Division. It is one of the largest skilled nursing operators in the country and operates 218... Read More »
  • Cindat Capital Management Invests in Colorado Community

    Cindat Capital Management, a middle-market real estate private equity platform focused on seniors housing and opportunistic investments, announced its first investment from its Senior Housing Credit Platform. It was a unitranche debt investment in The Pearl at Boulder Creak, a 116-unit, Class-A independent living and assisted living community... Read More »
  • MedCore Divests to Publicly Traded Healthcare REIT

    Ziegler announced its role as exclusive sell-side financial advisor to MedCore on the sale of Parkview on Hollybrook, a 189-unit rental CCRC in Longview, Texas. The property has been on a long road to stabilization. It was originally bought in a bankruptcy auction in 2016 for $20.7 million by Thrive FP when it was in the middle of development. 12... Read More »
  • Forbright Bank’s H1 Activity

    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... Read More »
  • Large SNF Portfolio Secures Financing

    MONTICELLOAM, LLC announced the closing of $218.3 million in combined bridge, mezzanine, and working capital financing for 18 skilled nursing facilities across Kentucky. The transaction includes a $179.3 million senior bridge loan and a $29 million mezzanine loan, which the sponsor plans to use to restructure and upsize the existing debt on the... Read More »

A Conversation on the Bridge Lending Market with Oxford Finance

The industry is emerging from the pandemic, but new issues are always arising, so how are lenders reacting and how do they distinguish pandemic problems from provider problems? Ben Swett sat down with Kevin Harbour and Tracy Maziek of Oxford Finance to discuss the state of the bridge lending market in a rising interest rate environment. Read More »
Oxford Announces New Hire From Wells Fargo Capital Finance

Oxford Announces New Hire From Wells Fargo Capital Finance

After more than 17 years at Wells Fargo Capital Finance, Kevin Harbour has joined Oxford Finance’s healthcare services real estate and asset-based financing unit.  Mr. Harbour’s responsibilities as Managing Director will include maintaining the firm’s real estate bridge lending products, developing new financial products for qualifying healthcare enterprises, expanding Oxford’s asset-based financing platform across all healthcare industries, and managing the firm’s underwriting and business development teams. Mr. Harbour comes to Oxford with 18 years of expertise in healthcare lending, most recently as Head of Healthcare Loan Originations at Wells Fargo Capital... Read More »
Oxford Finance Closes Senior Loan for California ALF

Oxford Finance Closes Senior Loan for California ALF

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... Read More »
Oxford Finance Backs Acquisition of Four Texas SNFs

Oxford Finance Backs Acquisition of Four Texas SNFs

Oxford Finance helped finance the acquisition of four skilled nursing facilities in Texas with a senior credit facility totaling $27.5 million. Cascades Healthcare, an owner/operator of 15 skilled nursing facilities in Utah and Idaho, is the borrower, branching out into the Lone Star State for the first time. The facilities total 647 licensed beds. We learned of the deal earlier this month when Alec Blanc of Monarch Advisors announced his structuring of the transaction. Making up the credit facility was a $21 million acquisition loan that came with a three-year term and interest-only payments for the first two years, a $3 million revolving line of credit for working capital, and a $3.5... Read More »
Oxford Finance Secures Senior Credit Facility

Oxford Finance Secures Senior Credit Facility

Oxford Finance closed a $24 million senior credit facility with Lantern Group, an owner/operator of both skilled nursing and assisted living facilities headquartered in northeast Ohio. The funds were used to acquire three assisted living/memory care communities in Ohio, in the towns of Chagrin, Madison and Saybrook.   Totaling 219 units, they had been operated by Lantern since their original construction. Lantern will continue to operate them, no surprise there. The buyout had been in the works for some time, but Oxford helped navigate some hiccups along the way that come with getting deals done these days.  Read More »