FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Capital One Closes $162.5MM Credit Facility for Palm Garden Healthcare

October 25, 2016, 07:55 AM
Filed Under: Healthcare

Capital One announced it served as sole lead arranger and administrative agent for a $162.5 million senior secured credit facility consisting of a real estate term loan, a Capex line of credit and an asset-based revolver.

Palm Garden Healthcare, the borrower, owns 14 skilled nursing facilities and an assisted living facility in Florida with a total of 1,931 beds. The company is using the proceeds to refinance existing debt and provide capital to expand and improve its facilities. Led by an experienced management team, they also operate home care agencies and provide outpatient therapy and rehabilitation services at their facilities.

“As Palm Garden Healthcare has evolved, they’ve needed a variety of financial solutions to maintain and grow their business,” said Jim Seymour, managing director for Capital One Healthcare’s real estate team. “We were able to leverage expertise from across our healthcare business to structure a credit facility that enables the company to continue serving their residents.”

Capital One Healthcare is a leading provider of financial services to the industry with over $11 billion in total outstanding balances. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.