White Oak Healthcare REIT Makes First Acquisition
Earlier this year, White Oak Healthcare Finance announced that it was forming a new REIT to invest up to $500 million in seniors housing and skilled nursing acquisitions. To do that, they hired a new team consisting of Jeff Erhardt, Paul Nevala, Mike Treiber and John Brussard, all of whom founded Capital Healthcare Investors, a wholly owned subsidiary of MTGE Investment Corp., a publicly traded hybrid REIT. Now, the REIT, appropriately named White Oak Healthcare REIT, is making its first acquisition, involving a four-property senior living portfolio. Located in Arkansas (2), Florida and Pennsylvania, the portfolio features a total of 104 independent living, 230 assisted living and 103... Read More »
White Oak Refinances GMF Capital SNF Portfolio
GMF Capital refinanced 14 of its skilled nursing facilities with an $81 million credit facility secured by White Oak Healthcare Finance. The financing is comprised of a $66 million senior credit facility to refinance the properties, which are located in Ohio and Kentucky, and a $15 million line of credit closed for the operating company. This isn’t GMF’s first experience with White Oak, as the lender arranged another senior credit facility for the investment management platform to acquire a couple of assisted living/skilled nursing properties in Rhode Island at the end of 2018. Meridian Senior Living was the operating partner in that deal. Read More »
White Oak Healthcare Finance Buys $700 Million In Senior Care Loans
White Oak Healthcare Finance is aggressively growing its presence in the senior care lender market and purchased a portfolio of 12 skilled nursing and seniors housing loans from Capital One and its participant banks. Financial terms were not disclosed, but the loans totaled approximately $700 million and helped Capital One reduce its skilled nursing exposure. So, it was a win-win for both parties. Capital One also provided debt financing for White Oak to fund the transaction. This isn’t White Oak’s first big wave in the senior care lending market. Last month, the company served as administrative agent and lead lender on the funding of a $190 million senior credit facility of 17 skilled... Read More »Schedule a demo
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