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White Oak Healthcare Finance Closes Subsequent SNF Portfolio Financing for Granite Investment Group

October 04, 2018, 07:10 AM
Filed Under: Healthcare

White Oak Healthcare Finance, LLC announced it acted as sole lender and administrative agent on the funding of a $28 million senior credit facility for Granite Investment Group (Granite).  Secured by three skilled nursing facilities in Texas, the funds refinanced existing debt and provided a dividend for investors.  White Oak recently announced it financed a separate portfolio of four skilled nursing facilities in Texas for Granite. 

“We are happy to have had another opportunity to work with Granite. This transaction materialized as an opportunity to provide a bridge-to-HUD financing for an under-levered portfolio. As an active lender in the space, we can optimize our offerings to meet each company’s unique business needs,” said Isaac Soleimani, Managing Director and Partner at White Oak.

Granite Investment Group is a privately held, real estate investment firm focused on multi-family, senior housing, and post-acute care.

“It was great to work with the team at White Oak again. In addition to providing us with a compelling financing package, they were able to accommodate an accelerated closing timeline, completing the transaction in 45 days. Their flexibility, certainty of execution and ability to scale to larger transaction sizes are a welcome new addition to the seniors housing lending market,” said Jason Price, SVP at Granite Investment Group.

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