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Alpine Capital Closes $5MM Senior Secured Facility for North Shore Healthcare

January 17, 2017, 07:00 AM
Filed Under: Healthcare

Alpine Capital, as servicer and agent, has closed a senior debt financing facility for North Shore Healthcare, a Wisconsin-based group of skilled nursing facilities.  The financing consisted of a $5 million senior secured asset-based revolving line of credit.  Proceeds from the financing will support working capital needs of the business.

“We had a relatively standard ABL financing need that was somewhat complicated due to a change of ownership and a short window to execute.  Their experience working with skilled nursing facilities was evident.  We were extremely impressed with Alpine’s ability to identify and address roadblocks early on which allowed us to meet our targeted closing date.  The Alpine Capital team did a great job and we look forward to the partnership.” said Troy Baumann, Principal at North Shore Healthcare.
“This deal was a lot of hard work and we appreciated Alpine’s focus and attention.  We look forward to a long and successful relationship with Alpine Capital.” said Jeff Hoehn, Principal at North Shore Healthcare.
“We are thrilled to add North Shore to our portfolio and excited to partner with Troy and Jeff, who have a strong reputation for managing facilities effectively.  We look forward to a long and prosperous relationship.” said Alan Regdos, CEO for Alpine Capital.

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