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White Oak Healthcare Finance Supports $81MM Refi of 14-Asset Skilled Nursing Portfolio

August 07, 2019, 08:50 AM
Filed Under: Nursing Facilities

White Oak Healthcare Finance, LLC announced it acted as sole lender and administrative agent on the funding of a $66.0 million senior credit facility for GMF Capital, LLC (GMF).  The funds were used to refinance a portfolio of 14 skilled nursing facilities concentrated in Ohio and Kentucky. As part of the transaction, White Oak also provided a $15.0 million line of credit to the operating company.

“GMF is a well-respected investor in the healthcare real estate sector with deep domain expertise,” said Ross Eldridge, Managing Director at White Oak.  “We were able to offer a competitive structure to help GMF execute their business plan, and we are excited to grow this strategic partnership as we continue to be an active lender in the healthcare industry.”

GMF is an investment management platform engaged in private equity and alternative investments across real estate, healthcare, and structured credit. GMF’s investment strategy is to create programmatic partnerships with sophisticated operators of real estate properties who are focused on specific asset classes, geographies, and investment strategies. The healthcare platform consists of 125+ properties with $600 million of assets under management across 10+ states, including skilled nursing, independent living, assisted living, memory care, behavioral health, and dialysis facilities.

“White Oak continues to be one of our preferred lending partners that demonstrates their flexible capital with their ability to cater to customers’ unique business needs.” said Dan O’Keefe, Managing Director and Head of Healthcare at GMF. “White Oak’s Real Estate team makes the deal process seamless and always provides certainty of execution.”

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