A Popular transaction

Popular Community Bank, a subsidiary of Popular, Inc. (NASDAQ: BPOP), provided financing to assist Centers Health Care in acquiring a formerly struggling 405-bed skilled nursing facility in Bronx, New York. Centers had been operating the facility under receivership since 2013, when it was losing money under not-for-profit ownership. Now the facility is profitable, and Centers […]

Three more Popular closings

Popular Community Bank, a subsidiary of Popular, Inc. (NASDAQ: BPOP), was busy this month, closing a couple of term loans along with five separate credit facilities. Ken Mitchell, who leads the National Healthcare Financing Division of Popular, closed both an $18 million loan and a $13 million loan for Grand Healthcare System to exercise purchase […]

A Popular deal

Popular Community Bank, a subsidiary of Popular, Inc., closed a three-for-one financing for a Staten Island skilled nursing facility. The 372-bed facility includes a fully occupied 72-bed neuro-behavioral unit that is one of two in downstate New York. The operator, Centers Healthcare, acquired the then-300-bed facility in 2012 for $34 million, or $113,333 per bed, […]